Series 2 Convertible Preferred Stock definition

Series 2 Convertible Preferred Stock means the Company's Series 2 Convertible Preferred Stock, par value $.01 per share, which will have the rights, powers and privileges on the Closing Date as more fully set forth in the Series 2 Certificate of Designations.

Examples of Series 2 Convertible Preferred Stock in a sentence

• The shares of the Company's Common Stock issuable upon conversion of the Series 1 Preferred and Series 2 Convertible Preferred Stock will be, when issued in accordance with the respective terms of the Series 1 Certificate of Designations and Series 2 Certificate of Designations, duly authorized, validly issued, fully paid and non-assessable.

• The Company shall maintain the senior status of the Series 2 Convertible Preferred Stock such that it shall rank senior in all respects, including the payment on limitation and redemption, to all other equity securities of the Company, except that the Series 1 Preferred shall rank pari passu with the Series 2 Convertible Preferred Stock.

• The Corporation has authorized the creation of a series of Class B Preferred Stock to be designated "Class B Series 2 Convertible Preferred Stock" (the "Class B Convertible Preferred Stock").

• The Company shall have taken all of the necessary actions, including the amendment of the appropriate existing agreements, so that, except as provided in this Section 10.3, the Series 2 Convertible Preferred Stock shall rank senior in all respects, including the payment on limitation and redemption, to all other equity securities of the Company, except that the Series 1 Preferred shall rank pari passu with the Series 2 Convertible Preferred Stock.

• The shares of Series 2 Convertible Preferred Stock being acquired under this Agreement and by the other Purchasers under the other Stock Purchase Agreements (as hereinafter defined) are collectively referred to herein as the "Shares", containing rights and privileges as more fully set forth in the Series 2 Certificate of Designations of the Company in the form attached hereto as Exhibit A (the "Series 2 Certificate of Designations").

• Each Unit consists of 100,000 shares of Series 2 Convertible Preferred Stock, par value $0.001 per share, of the Company (the "Series 2 Preferred Stock") at a purchase price of $1.00 per share.

• If any shares of Preferred Stock shall be converted or reacquired by the Corporation, such shares shall resume the status of authorized but unissued shares of preferred stock and shall no longer be designated as Series 2 Convertible Preferred Stock.

• The series of preferred stock shall be designated as its Series 2 Convertible Preferred Stock (the “Preferred Stock”) and the number of shares so designated shall be up to 787 (which shall not be subject to increase without the written consent of all of the holders of the Preferred Stock (each, a “Holder” and collectively, the “Holders”)).

• The series of preferred stock designated by this Certificate of Designation shall be designated as the Corporation’s Series 2 Convertible Preferred Stock (the “ Preferred Stock”) and the number of shares so designated shall be [●] ([●]) (which shall not be subject to increase without the written consent of the Required Holders).

• The Series 3 Shares shall rank junior to the Company's Convertible Exchangeable Preferred Stock, Series 1, and on a parity with the Company's Series 2 Convertible Preferred Stock, in respect of dividends and distributions and payments upon the liquidation, dissolution or winding up of the Company.