Examples of Series B Preferred in a sentence
The authorized capital stock of the Company consists of: (i) 47,000,000 shares of Company Common Stock; and (ii) 3,000,000 shares of preferred stock, par value $0.01, 2,000,000 of which are designated as Series B Preferred Stock, par value of $0.01 per share, of the Company (collectively, the “Company Preferred Stock”).
As of the Effective Date, the authorized capital of the Company consists of 2,010,000,000 shares of capital stock, of which 2,000,000,000 shares are Common Stock, and 10,000,000 shares are preferred stock, of which 45,000 shares are designated Series B Preferred Stock, 25,000 shares will be designated Series C Preferred Stock and, after filing of the Certificate of Designation, 9,930,000 shares will be undesignated Preferred Stock.
For the avoidance of doubt, no Series C Preferred Shareholder, Series B Preferred Shareholder, Series A+ Preferred Shareholder nor Series A Preferred Shareholder shall be deemed to be an Affiliate of the Company.
For the avoidance of doubt and except as otherwise stated herein, if any Preferred Shareholders enjoys any other privileges and rights in the Company not provided in the Series B Transaction Documents or the Series B Share Purchase Agreement (as defined in the Fifth Restated Articles), the Series B Preferred Shareholders shall also be, automatically and without any consent or approval from any person, entitled to such privileges and rights.
Within ten (10) business days after the receipt of the Second Transfer Notice (the “Series B First Refusal Period”), the Series B Preferred Shareholders shall have the right to purchase all or any part of the Series B Remaining Offered Shares on the terms and conditions set forth in the First Transfer Notice.