Examples of Series A Designation in a sentence
Except as expressly provided in Section 1, this Written Consent of Preferred Majority Holder does not, by implication or otherwise, nor shall it be deemed to operate to, alter, modify, waive, amend or in any way affect any of the rights, remedies, powers, privileges or covenants contained in the Series A Designation or in any Related Agreement.
Upon the occurrence of each adjustment or readjustment of the Series A Conversion Price pursuant to Section 4 of this Series A Designation, the Corporation, at its expense, shall promptly compute such adjustment or readjustment in accordance with the terms hereof and prepare and furnish to each holder of shares of Series A Preferred Stock a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based.
The consent set forth in Section 1 above will not be deemed to (a) be consent to any past, current or future amendment, waiver or modification of any other term or condition of the Series A Designation or any Related Agreement or (b) otherwise prejudice any right or remedy which Koch may now have or may have in the future under or in connection with the Series A Designation or any Related Agreement.
In exchange for good and valuable consideration, the receipt of which is acknowledged, Koch hereby consents to one distribution on or before June 30, 2018, not to exceed $50,000,000 (the “Permitted Distribution”), in accordance with Section 10 of the Series A Designation and accordingly the Permitted Distribution shall not result in, upon notice or passage of time or otherwise, in a default, breach or violation of the Series A Designation or any Related Agreement (as defined in the Series A Designation).
The Series A Preferred Shares shall have the rights, preferences, privileges and other terms and conditions set forth in the Series A Designation.