Examples of Senior Common Stock in a sentence
In the absence of an established market for the Class A Senior Common Stock, the Fair Market Value thereof shall be determined in good faith by the Administrator.
The Shares may be authorized but unissued or reacquired shares of Class A Senior Common Stock.
All accumulated and unpaid distributions on the Senior Common Stock shall be paid to the holder through the date of conversion.
For purposes of the foregoing “Related Securities” shall mean any options or warrants or other rights to acquire Common Stock or any securities exchangeable or exercisable for or convertible into Common Stock, or to acquire other securities or rights ultimately exchangeable or exercisable for, or convertible into, Common Stock; provided, however, that the term “Related Securities” shall not include the Company’s Senior Common Stock, which is convertible into Common Stock.
If less than all of the outstanding Senior Common Stock is to be redeemed, shares of Senior Common Stock shall be selected pro rata for redemption or by any other equitable method determined by the Company.
The Senior Common Stock has no stated maturity and will not be subject to any sinking fund or mandatory redemption.
If the outstanding Common Stock is increased or decreased or changed into or exchanged for a different number or kind of shares or other securities of the Company or of any other company by reason of any reclassification, recapitalization, share split up, combination of shares, or share distribution, appropriate adjustment will be made to the number of shares and relative terms of the Senior Common Stock.
Holders of the Senior Common Stock will not have any voting rights, except as set forth below or as otherwise from time to time required by law.
Our Senior Common Stock may be exchanged, at the option of the holder, for shares of our Listed Common Stock after the fifth anniversary of the issuance of such shares of Senior Common Stock.
Holders of Senior Common Stock that are redeemed shall surrender such Senior Common Stock at the place designated in such notice and upon such surrender shall be entitled to the redemption price and any accumulated and unpaid distributions payable upon such redemption.