Series AA-5 Preferred Stock definition

Series AA-5 Preferred Stock means, unless otherwise stated herein, five hundred fifty (550) shares of Series AA-5 Preferred Stock, which were authorized pursuant to a Certificate of Designation of Preferences, Rights and Limitations which was filed with the Delaware Secretary of State on May 26, 2023.
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Examples of Series AA-5 Preferred Stock in a sentence

  • No fractional shares or scrip representing fractional shares shall be issued upon the conversion of or as dividends on the Series AA-5 Preferred Stock.

  • For purposes hereof, references to Series AA-3 Preferred Stock in this Section 5 shall include the Series A Preferred, Series AA Preferred Stock, Series AA-2 Preferred Stock and all sub-series designated Series AA-4 Preferred Stock, Series AA-5 Preferred Stock and so on that may be authorized following the date hereof.

  • The “Beneficial Ownership Limitation” shall be 4.99% (or, at the written election of any Holder delivered to the Company pursuant to the terms of Section 9 prior to the issuance of any shares of Series AA-5 Preferred Stock, 9.99% but no in event higher than 9.99%) of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon conversion of Series AA-5 Preferred Stock held by the applicable Holder.

  • Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver the Conversion Shares upon conversion of the shares of Series AA-5 Preferred Stock as required pursuant to the terms hereof .

  • Except as expressly provided herein, no provision of this Certificate of Designations shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay accrued dividends, as applicable, on the shares of Series AA-5 Preferred Stock at the time, place, and rate, and in the coin or currency, herein prescribed.

  • The limitations contained in this paragraph shall apply to a successor holder of the Series AA-5 Preferred Stock.

  • Provided however, the Company shall not issue any shares of common stock below the Conversion Price Floor without the consent of the Holders of a majority of the outstanding Series AA-5 Preferred Stock voting as a separate class.

  • For example, if a Holder purchases shares of Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted conversion of shares of Series AA-5 Preferred Stock with respect to which the actual sale price of the Conversion Shares (including any brokerage commissions) giving rise to such purchase obligation was a total of $10,000 under clause (A) of the immediately preceding sentence, the Company shall be required to pay such Holder $1,000.

  • The aggregate number of Conversion Shares which the Company shall issue upon conversion of the Series AA-5 Preferred Stock (whether pursuant to Section 6(a) or 6(b)) will be equal to the number of shares of Series AA-5 Preferred Stock to be converted, multiplied by the Stated Value, divided by the Conversion Price in effect at the time of the conversion.

  • To effect conversions of shares of Series AA-5 Preferred Stock, a Holder shall not be required to surrender any Certificated Series AA-5 Preferred Stock to the Company unless all of the shares of Series AA-5 Preferred Stock represented by any such certificate are so converted, in which case such Holder shall deliver the Certificated Series AA-5 Preferred Stock promptly following the Optional Conversion Date.

Related to Series AA-5 Preferred Stock

  • Series A Preferred Stock means shares of the Company’s Series A Preferred Stock, par value $0.0001 per share.

  • Series A-2 Preferred Stock means shares of the Company’s Series A-2 Preferred Stock, par value $0.001 per share.

  • Series A Preferred means the Series A Convertible Preferred Stock of the Company, par value $0.01 per share.

  • Preferred Stock as applied to the Capital Stock of any corporation, means Capital Stock of any class or classes (however designated) which is preferred as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such corporation, over shares of Capital Stock of any other class of such corporation.