Series A+ Preferred Majority definition

Series A+ Preferred Majority means the holder(s) of more than fifty (50%) of the issued and outstanding Series A Preferred Shares.

Series A+ Preferred Majority means the holder(s) of at least fifty point zero zero percent (50.00%) of the voting power of the issued and outstanding Series A+ Preferred Shares (voting together as a single class and on an as-converted basis).

Series A+ Preferred Majority means the holder(s) of at least fifty point zero zero percent (50.00%) of the voting power of the issued and outstanding Series A Preferred Shares (voting together as a single class and on an as-converted basis).

Examples of Series A+ Preferred Majority in a sentence

• If such parties are unable to reach agreement within a reasonable period of time, the fair value of such consideration shall be determined by an independent appraiser experienced in valuing such type of consideration jointly selected by the Corporation and the Series A Preferred Majority Holders.

• Any vacancy created by the removal, death, resignation, retirement or disqualification of a Preferred Director shall be filled by the affirmative vote of the Series A Preferred Majority Holders.

• The fair value of any consideration or net assets other than cash and marketable securities shall be determined jointly by the Corporation and the Series A Preferred Majority Holders.

• Except as specifically provided herein, so long as any Series A Preferred Shares remain outstanding, without the prior written consent of the Series A Preferred Majority Holders, the Corporation shall not, nor shall it permit any Subsidiary to, redeem, purchase or otherwise acquire directly or indirectly any Junior Securities, nor shall the Corporation directly or indirectly declare or pay any dividend or make any distribution upon any Junior Securities.

• Not less than 30 days prior to the payment date stated therein (or such lesser period as may be agreed by the Series A Preferred Majority Holders), the Corporation shall deliver written notice of any Liquidation to each record holder of Series A Preferred, setting forth in reasonable detail the amount of proceeds to be paid with respect to each Series A Preferred Share and each Junior Security in connection with such Liquidation.

• Each Preferred Director appointed pursuant to this Section 10(b) shall continue to hold office until such Preferred Director is removed from office by the affirmative vote of the Series A Preferred Majority Holders or at such time as such Preferred Director’s death, resignation, retirement or disqualification.

• The fair value of any consideration or net assets other than cash and securities (and, if applicable, the portions thereof attributable to any such stock or securities) shall be determined jointly by the Corporation and the Series A Preferred Majority Holders.

• For example, should the items in dispute total in amount to $1,000 and the appraiser awards $600 in favor of the Corporation’s position, 60% of the costs of its review would be borne by Series A Preferred Majority Holders and 40% of the costs would be borne by the Corporation.

• Notwithstanding the foregoing, the Series A Preferred Majority Holders may, on behalf of all holders of Series A Preferred Shares, waive such redemption request upon written notice to the Corporation prior to the consummation of such redemption.

• The fees, costs and expenses of such appraiser shall be borne by the Corporation and Series A Preferred Majority Holders, on behalf of all holders of the Series A Preferred, based on the inverse of the percentage that the appraiser’s determination (before such allocation) bears to the total amount of the total items in dispute as originally submitted to the appraiser.

More Definitions of Series A+ Preferred Majority

Series A+ Preferred Majority means the holder(s) of more than fifty percent (50%) of the issued and outstanding Series A+ Preferred Shares.