Series 6 Preferred Stock definition
Examples of Series 6 Preferred Stock in a sentence
Consistent with Section 3.4(b) and (c), each time that a share of Series 6 Preferred Stock is converted into one or more shares of Class A Stock, an equal number of Series 6 Preferred Units shall automatically be cancelled in exchange for (without any further action of the Company or PubCo) the issuance to PubCo of a number of Common Units at the same conversion ratio as applied to the conversion of the Series 6 Preferred Stock into Class A Stock.
The Series 6 Preferred Units may not be redeemed except to the extent that the General Partner redeems its Series 6 Preferred Stock, in which case the Partnership shall redeem one Series 6 Preferred Unit for each share of Series 6 Preferred Stock that the General Partner redeems.
If the holders of the Series 6 Preferred Stock receive cash, securities or other property upon conversion of the Series 6 Preferred Stock, the Series 6 Preferred Units shall also convert into such cash, securities or other property.
For purposes hereof, the “Series 6 Closing” means the closing of the purchase and sale of shares of the Company’s Series 6 Preferred Stock and certain warrants to purchase shares of the Company’s Common Stock pursuant to the Securities Purchase Agreement of even date herewith by and among the Company and the purchasers of such securities.
The calculation of the amounts of the Series 1 Preferred Stock Consideration, the Series 2 Preferred Stock Consideration, the Series 3 Preferred Stock Liquidation Preference, the Series 4 Preferred Stock Liquidation Preference, the Series 5 Preferred Stock Consideration and the Series 6 Preferred Stock Consideration provided to Parent by the Company on the Closing Date shall be true and correct in all material respects.