Examples of Series G Convertible Preferred Stock in a sentence
The amount of the dividends payable per share of Series G Convertible Preferred Stock for each quarterly dividend period shall be computed by dividing the annual dividend amount by four.
This Promissory Note (“Note”), is issued by Borrower as partial consideration, along with concurrent payment of $1,250,000.00 (one fourth of $5,000,000.00) in cash by wire transfer of immediately available funds, for the issuance by Lender of 2,636 shares of Series G Convertible Preferred Stock (“Preferred Shares”) of Lender pursuant to that certain Stock Purchase Agreement (“Agreement”) dated December 30, 2021, which is incorporated herein by reference.
Shares of Common Stock issued in payment of dividends on Series G Convertible Preferred Stock pursuant to this Section shall be, and for all purposes shall be deemed to be, validly issued, fully paid and nonassessable shares of Common Stock of the Corporation; the issuance and delivery thereof is hereby authorized; and the dispatch thereof will be, and for all purposes shall be deemed to be, payment in full of the cumulative dividends to which holders are entitled on the applicable dividend payment date.
No full dividends shall be paid or declared and set apart for payment on the Series G Convertible Preferred Stock for any period unless all accrued but unpaid dividends have been, or contemporaneously are, paid or declared and set apart for payment on the Parity Dividend Stock for all dividend periods terminating on or prior to the date of payment of such full dividends.
After payment in full of the liquidation price of the shares of the Series G Convertible Preferred Stock and the Parity Liquidation Stock, the holders of such shares shall not be entitled to any further participation in any distribution of assets by the Corporation.
If any shares of Preferred Stock shall be converted, redeemed or reacquired by the Corporation, such shares shall resume the status of authorized but unissued shares of preferred stock and shall no longer be designated as Series G Convertible Preferred Stock.
Except as otherwise required by law or expressly provided herein, shares of Series G Convertible Preferred Stock shall not be entitled to vote on any matter.
The shares of such series shall be designated as "Series G Convertible Preferred Stock" (the "Series G Convertible Preferred Stock"), and the number of shares constituting such series shall be 10,000 and shall not be subject to increase.
No full dividends shall be paid or declared and set apart for payment on any class or series or the Corporation's capital stock ranking, as to dividends, on a parity with the Series G Convertible Preferred Stock (the "Parity Dividend Stock") for any period unless all accrued but unpaid dividends (and interest on dividends in arrears at the rate specified herein) have been, or contemporaneously are, paid or declared and set apart for such payment on the Series G Convertible Preferred Stock.
Dividends on the Series G Convertible Preferred Stock shall be paid in cash or, subject to the limitations in Section 4(b) hereof, shares of Common Stock or any combination of cash and shares of Common Stock, at the option of the Corporation as hereinafter provided.