Examples of Unconverted Preferred Stock in a sentence
In the event that the Company is thereafter able to convert the Unconverted Preferred Stock, it shall so notify the holder in writing, and such notice shall be deemed to be an Automatic Conversion Event for purposes of this Section 9.
In the event that the Company is thereafter able to convert the Unconverted Preferred Stock, it shall so notify the holder in writing, and such notice shall be deemed to be an Automatic Conversion Event for purposes of this Section 8.
If, at any time, the number of authorized but unissued shares of Common Stock shall not be sufficient to effect the conversion of all then Unconverted Preferred Stock, the Company will take undertake to obtain the appropriate approval of shareholders of the Company as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose.
If, at any time, the number of authorized but unissued shares of Common Stock shall not be sufficient to effect the conversion of all then Unconverted Preferred Stock, the Company will take such corporation action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose.
Thereupon there shall be issued to such Holder promptly at such office and in its name as shown on such surrendered certificate or certificates, a certificate or certificates for the number of shares of Common Stock in which such Unconverted Preferred Stock were convertible on the on which such automatic conversion occurred.
Pending such stockholder approval, the Unconverted Preferred Stock shall continue to be outstanding and entitled to all rights and privileges hereunder.
Upon the occurrence of such automatic conversion of Unconverted Preferred Stock, the Holders of such shares shall surrender the certificates representing such shares at the office of the Company or the Transfer Agent.
If such stockholder approval is not obtained, the Company shall redeem the Unconverted Preferred Stock at the Redemption Price; provided, however, that the Premium shall be calculated through the date of redemption using the accrual rate in effect on the Original Conversion Date.
The holder shall retain the Unconverted --------------------------- Preferred Stock until the next annual or special meeting of the stockholders of the Company at which the Company, subject to any rights it may have to redeem the Unconverted Preferred Stock in accordance with Section 7(b), shall submit a proposal for stockholder approval of the issuance of the Ineligible Common Stock.
The date of conversion (the "Conversion Date") shall be deemed to be the date on which the Holder faxes or otherwise delivers a Notice of Conversion to the Company, provided that, if the Notice of Conversion represents the conversion of all of the then Unconverted Preferred Stock of the Holder, the Holder must deliver to the Company the certificate or certificates representing all of the Holder's Designated Preferred Stock no later than five (5) Trading Days thereafter.