Examples of Series D-3 Preferred Shares in a sentence
For the purposes of voting rights hereunder, the Series D-1 Preferred Shares, the Series D-2 Preferred Shares and Series D-3 Preferred Shares shall be considered a single class, and shall vote together as a single class on all Preferred D Votes and/or any Class Meetings of the Series D Preferred Shares.
Five million US Dollars (US$5,000,000) of the Principal Amount shall be converted into Series D-3 Preferred Shares of the Company at a conversion price reflecting the blended pre-money valuation of the Company of not more than eight hundred million US Dollars (US$800,000,000) (the “D-3 Conversion Price”) on a fully diluted and as converted basis (the “Series D-3 Conversion”).
The “Series D-3 Conversion Price” shall initially be the Series D-3 Issue Price (as appropriately adjusted for share splits, share dividends, combinations, recapitalizations and similar events with respect to the Series D-3 Preferred Shares), resulting in an initial conversion ratio for the Series D-3 Preferred Shares of 1:1, and shall be subject to adjustment and readjustment from time to time as hereinafter provided.
Each of the other holders of Series D-3 Preferred Shares may also elect to require the Company to redeem all or a portion of their Series D-3 Preferred Shares by delivering a separate redemption notice to the Company within fifteen (15) days of the receipt of such written notice from the Company (the “Series D-3 Redemption Election Period”).
If the assets and funds thus distributed among the holders of the Series D-3 Preferred Shares shall be insufficient to permit the payment to such holders of the full Series D-3 Preference Amount, then the entire assets and funds of the Company legally available for distribution shall be distributed ratably among the holders of the Series D-3 Preferred Shares in proportion to the aggregate Series D-3 Preference Amount each such holder is otherwise entitled to receive pursuant to this subparagraph (2).
No interest shall accrue for the benefit of the holder of Series D-3 Preferred Shares to be redeemed on any cash so set aside by the Trust.
For purposes of the foregoing provisions of this Section 9, each Series D-3 Preferred Share shall have one (1) vote per share, except that when any other series of Preferred Stock shall have the right to vote with the Series D-3 Preferred Shares as a single class on any matter, then the Series D-3 Preferred Shares and such other series shall have with respect to such matters one (1) vote per $50.00 of stated liquidation preference.
The Series D-3 Preferred Shares are not convertible into or exchangeable for any other property or securities of the Trust at the option of any holder of Series D-3 Preferred Shares.
The Series D-3 Preferred Shares constitute -13- 14 Preferred Stock, and Preferred Stock constitutes Equity Stock of the Trust.
Holders of Series D-3 Preferred Shares shall not be entitled to any dividends, whether payable in cash, property or stock, in excess of cumulative dividends, as herein provided, on the Series D-3 Preferred Shares.