Examples of Series C Designation in a sentence
Subject to the waiver by Golden Post Rail, LLC of its pre-emptive rights under the Series C Designation, upon payment of the Purchase Price and issuance of the Shares, the Shares will be duly authorized, validly issued, fully paid, non-assessable and free of pre-emptive rights.
So long as any shares of Series D Preferred Stock are outstanding, if the Corporation pays a dividend in cash, securities or other property on the Common Stock (other than as described in the last sentence of Section 4(e) of the Series C Designation) then at the same time the Corporation shall declare and pay a dividend on each share of Series D Preferred Stock in an amount equal to the Series D Per Share Participation Amount.
The Company and JEDI II hereby agree that for purposes of clarifying the terms of the Series C Preferred Stock in connection with the Mandatory Conversion set forth in Section 9 and the conversion provisions set forth in Section 8 of the Series C Designation, the shares of Series C Preferred Stock shall be canceled on the Mandatory Conversion Date (as defined in Section 9 of the Series C Designation) if such date occurs on or prior to June 30, 2000 upon the payment of $1,000.
The Common Shares issuable upon conversion of Series C Preferred Shares issued pursuant to this Agreement have been duly and validly reserved for issuance and, upon issuance in accordance with the terms of this Agreement and the Series C Designation, will be duly and validly issued, fully paid, non-assessable and free and clear of all liens and encumbrances (other than restrictions on transfer under applicable federal and state securities laws).
The following provision is intended to clarify the basis of Section 8 of the Series C Designation, which is cross-referenced by Section 9 but contains no provision for conversion in the event of a Mandatory Conversion Date on or prior to June 30, 2000.