Proportionate Voting Preferred Stock definition
Examples of Proportionate Voting Preferred Stock in a sentence
The Advisor shall not cast any votes with respect to the share of Proportionate Voting Preferred Stock unless it receives LP Direction Votes with respect thereto.
The Advisor shall cast all votes with respect to the share of Proportionate Voting Preferred Stock in proportion to the votes (the “LP Direction Votes”) that the Advisor receives from the holders of Partnership Units (other than POP) that are issued pursuant to the Master Agreement or pursuant to any option delivered pursuant thereto or in connection with the consummation of the transactions contemplated thereby.
In order to give effect to the provisions of Section 4.1, the Advisor agrees to promptly deliver definitive proxy materials or other approved solicitation documents received from the Company as to any matter as to which votes or consents are sought by POP from the holders of Proportionate Voting Preferred Stock.
The Seller owns the sole and outstanding share of Proportionate Voting Preferred Stock (the “PVPS”) of the Buyer.
In order to give effect to the provisions of Section 4.1, the Advisor agrees to promptly deliver definitive proxy materials or other approved solicitation documents received from the Company as to any matter as to which votes or consents are sought by POP from the holder of Proportionate Voting Preferred Stock.
As Common Units and Preferred Units are exchanged by the Surviving Corporation at the option of a POP Member for Surviving Corporation Common Stock, the number of votes attaching to the Proportionate Voting Preferred Stock will decrease by a proportionate amount.
Notwithstanding anything herein to the contrary, at the Effective Time, the Company’s one outstanding share of Proportionate Voting Preferred Stock, par value $0.0001 per share (the “PVPS”), shall be cancelled and extinguished, and no consideration will be delivered in exchange therefor.
The Advisor shall cast all votes with respect to the share of Proportionate Voting Preferred Stock in proportion to the votes (the “LP Direction Votes”) that the Advisor receives from the holders of Partnership Units (other than POP) entitled to vote with respect to the share of Proportionate Voting Preferred Stock.
The Proportionate Voting Preferred Stock shall have voting rights, voting together as a single class with Surviving Corporation Common Stock, equal to the total number of shares of Surviving Corporation Common Stock issuable upon exchange of the Common Units and Preferred Units issued to the POP Members pursuant to the Transactions.
The Seller owns the sole issued and outstanding share of Proportionate Voting Preferred Stock, par value $0.0001 per share (the “PVPS”), of the Issuer.