Series B Majority definition
Examples of Series B Majority in a sentence
Reorganized Xxxxxxx and its subsidiaries shall not be permitted to enter into any consensual restriction on the ability of reorganized Xxxxxxx to make required payments on the Series B Preferred Stock without the prior written consent of the Series B Majority (except for customary restrictions in any agreement governing indebtedness).
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The terms and provisions of this Agreement may not be modified or amended, or any of the provisions hereof waived, temporarily or permanently, except pursuant to a writing executed by a duly authorized representative of the Corporation and the Series B Majority Investors.
At any time prior to the QIPO, each of the Founder Parties shall not Transfer any Shares directly or indirectly owned by them without the prior written consent of the Series C-2 Majority, the Series C-1 Majority, the Series C Majority, the Series B Majority and the Series A Majority, other than any Transfer of Shares pursuant to the enforcement of the Founder Share Charge and the Holding Company Share Charge (each as defined in the Series C SSA).
In the event that (i) the Series B Majority shall have elected to convert all shares of Series B Stock or (ii) the Common Stock of the Corporation becomes listed for trading on a national securities exchange, then each share of Series B Stock shall be converted automatically into shares of Common Stock, at the then effective conversion rate.