Examples of SLM BankCo Series B Preferred Stock in a sentence
In addition, each outstanding book-entry that, immediately prior to the Effective Time, evidenced outstanding Existing SLM Common Stock, Existing SLM Series A Preferred Stock or Existing SLM Series B Preferred Stock shall, from the Effective Time, be deemed and treated for all corporate purposes to evidence the ownership of the same number of shares of SLM BankCo Common Stock, SLM BankCo Series A Preferred Stock or SLM BankCo Series B Preferred Stock, respectively.
Each share of Existing SLM Series B Preferred Stock issued and outstanding immediately prior to the Effective Time shall be converted automatically into one validly issued, fully paid and nonassessable share of SLM BankCo Series B Preferred Stock having the same designations, rights, powers and preferences, and the qualifications, limitations and restrictions thereof as the shares of Existing SLM Series B Preferred Stock being so converted.
Accordingly, each outstanding certificate that, immediately prior to the Effective Time, evidenced outstanding Existing SLM Common Stock, Existing SLM Series A Preferred Stock or Existing SLM Series B Preferred Stock shall, from the Effective Time, be deemed and treated for all corporate purposes to evidence the ownership of the same number of shares of SLM BankCo Common Stock, SLM BankCo Series A Preferred Stock or SLM BankCo Series B Preferred Stock, respectively.
At the Effective Time, the designations, rights, powers and preferences, and qualifications, limitations and restrictions, of each of the SLM BankCo Common Stock, SLM BankCo Series A Preferred Stock and SLM BankCo Series B Preferred Stock will, in each case, be identical with those of Existing SLM Common Stock, Existing SLM Series A Preferred Stock and Existing SLM Series B Preferred Stock, respectively, immediately prior to the Effective Time.