Examples of Series B Consent in a sentence
The Series B Consent Agreement pursuant to which holders of the outstanding shares of National Media Series B Convertible Preferred Stock consent to the authorization, execution and delivery of this Agreement and each of the Transaction Documents and the consummation of the transactions contemplated hereunder and thereunder, is being entered into concurrently with the execution of this Agreement and a form is attached hereto as Exhibit L.
In the Liability Order, this court determined that Invenergy breached the Series B Consent Right.
The Series B Consent Right explicitly gave Invenergy only two options to consummate a Material Partial Sale: get Leaf’s consent or satisfy the exception by paying Leaf its Target Multiple.
Leaf’s remaining avenue for demonstrating actual damages, therefore, is showing it could have negotiated for consideration for waiving its consent given the opportunity.On the facts of this case, I find that Leaf would not have been able to extract any payment in return for its consent, meaning that Leaf did not suffer any damages from Invenergy bypassing its Series B Consent Right.
The interview materials described the Series B Consent Right in the same terms as the March 2014 board presentation and depicted the same exit valuations.67H.
He wrote that the Series B Consent Rightsays that we must get Leaf’s consent if we want to complete a Material Partial Sale if the proceeds of such transaction are less than the amount of the Target Multiple.
As the Liability Order held, the Series B Consent Right did not specify a remedy for breach.
This Agreement may not be amended, modified or supplemented in any manner, whether by course of conduct or otherwise, except by an instrument in writing specifically designated as an amendment hereto, signed by a duly authorized officer on behalf of each party (which in the case of the Company, with respect to the Debt Offers, will require the Requisite Series B Consent).
After describing how Leaf viewed the appropriate remedy, the Liability Order stated:The problem with this analysis is that the Series B Consent Right does not explicitly entitle Leaf to $126 million if its consent to a Material Partial Sale is not obtained.
This is the operative version of the Series B Consent Right for purposes of this litigation.