Series 5 Preferred Stock definition
Examples of Series 5 Preferred Stock in a sentence
Rights and Limitations of Series 5 Preferred Stock (incorporated by reference to Exhibit 3.1 to the Registrant’s Current Report on Form 8-K, filed on May 27, 2010).
As long as any shares of Series 5 Preferred Stock remain outstanding, the holders of outstanding Series 5 Preferred Stock shall be entitled to elect one (1) director of this corporation at any election of directors (the “Series 5 Director”).
Shares of Series 4 Preferred Stock or Series 5 Preferred Stock, as the case may be, owned by or held for the account of the Company shall not be deemed outstanding for the purpose of any such computation.
Each committee of the this corporation’s Board of Directors shall include the directors elected by the holders of Series 4 Preferred Stock, Series 5 Preferred Stock, Series 6 Preferred Stock and Series 7 Preferred Stock.
If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holders shall be given the same choice as to the Alternate Consideration it receives upon any conversion of the Series 5 Preferred Stock following such Fundamental Transaction.
No adjustment in the number of shares of Common Stock into which the Class A Series 5 Preferred Stock are convertible shall be made, by adjustment in the applicable Conversion Price thereof or otherwise, if prior to such adjustment the Corporation receives written notice from the holders of at least 50.1% of the outstanding shares of Class A Series 5 Preferred Stock agreeing that no such adjustment shall be made.
Unless the Corporation elects to treat such Fundamental Transaction as a Liquidation, the terms of any agreement pursuant to which a Fundamental Transaction is effected shall include terms requiring any such successor or surviving entity to comply with the provisions of this Section 7(d) and insuring that the Series 5 Preferred Stock (or any such replacement security) will be similarly adjusted upon any subsequent transaction analogous to a Fundamental Transaction.
Notwithstanding anything herein to the contrary, the shares of Class A Series 5 Preferred Stock may only be converted hereunder after August 31, 1999.
Upon a conversion of the Series 5 Preferred Stock hereunder, the Corporation shall not be required to issue fractions of shares of Common Stock, but shall instead, if otherwise permitted, round the total number of Conversion Shares for such conversion up or down to the nearest whole number of shares of Common Stock.
The Company is preparing to issue as of the date of this Agreement shares of its Class A Series 5 Preferred Stock (the "SERIES 5 STOCK" and, collectively with the Series 1 Stock, the Series 2 Stock, the Series 3 Stock and the Series 4 Stock, the "PREFERRED STOCK") and to extend to the purchasers of such Series 5 Stock (the "ADDITIONAL STOCKHOLDERS") certain of the rights provided to the Existing Stockholders under the Prior Agreement.