Examples of Series E-2 Convertible Preferred in a sentence
A financial sector is part of the entire financial system and at the core it offers and provides financial services to other sectors, e.g. the primary, secondary or tertiary sector of the economy (Schmidt and Tyrell, 2004).
The Series E-2 Convertible Preferred shall be converted by the holder thereof by surrendering the certificate or certificates representing the shares of Series E-2 Convertible Preferred to be converted, appropriately completed, to the transfer agent for the Common Stock.
If the assets of the Corporation are not sufficient to pay in full the liquidation payments payable to the Holders and to any holders of all other Parity Securities, then such assets shall be distributed among the Holders and any holders of such other Parity Securities ratably in accordance with the respective amounts that would be payable on such shares of Series E-2 Convertible Preferred and any such shares of other Parity Securities if all amounts payable thereon were paid in full.
Each share of the Series E-2 Convertible Preferred is convertible at the option of the Holder thereof, at any time and from time to time, into (A) a number of Conversion Shares equal to the Issue Price of the shares of Series E-2 Convertible Preferred surrendered for conversion, divided by (B) the Conversion Price then in effect, except that if shares of Series E-2 Convertible Preferred are called for redemption the conversion right will terminate at the close of business on the Redemption Date.
The number of shares constituting such series shall be 21,000 and are referred to as the “Series E-2 Convertible Preferred.” The liquidation preference of the Series E-2 Convertible Preferred shall be $10,000.00 per share (the “Liquidation Preference”).
The Corporation shall redeem, in the manner provided for in paragraph (e)(ii) hereof, and out of funds legally available therefor all of the outstanding shares of Series E-2 Convertible Preferred for cash on August 31, 2013 (the “Redemption Date”), at a price per share equal to the Redemption Price.
The transfer agent will deliver to such Holder a new certificate representing the shares of Series E-2 Convertible Preferred in excess of those being surrendered for conversion.
Except as provided in the preceding sentence, Holders of Series E-2 Convertible Preferred shall not be entitled to any distribution in the event of any liquidation, dissolution or winding up of the affairs of the Corporation.
Because each share of Series E-2 Convertible Preferred Stock has an accruing dividend, and because the holders of Series E-2 Convertible Preferred Stock purchased shares of Series E-2 Convertible Preferred Stock at different times, the merger consideration to be received per share of Series E-2 Convertible Preferred Stock will vary as a result of the dividend accrued.
Such escrowed funds, in the absence of claims, will be released to the holders of the Series E-2 Convertible Preferred Stock in $500,000 increments upon the twelve month, eighteen month and twenty-four month anniversaries of the closing of the Merger.