Examples of Class B Stock in a sentence
The AccommodationCo Share, if any, shall be converted into and become one share of Class B stock (“Class B Stock”) of the Surviving Corporation and shall constitute the only outstanding share of Class B Stock of the Surviving Corporation.
Except as otherwise required by applicable law, the holders of Class B Stock, exclusively and as a separate class, shall be entitled to elect all of the directors of the Company at each meeting or pursuant to each consent of the Company’s shareholders for the election of directors.
Any director may be removed during his or her term of office, either with or without cause, by, and only by, the affirmative vote of the holders of Class B Stock given either at a special meeting of such shareholders duly called for that purpose or pursuant to a written consent of the Company’s shareholders, and any vacancy thereby created may be filled by, and only by, the holders of Class B Stock represented at the meeting or pursuant to written consent.
The rights, powers, privileges, preferences and restrictions of the Class A Stock and Class B Stock are as follows.
In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, including in the event of a merger, Final Form consolidation, asset sale, or other transaction (each, a “Liquidation Event”), each holder of Class B Stock shall be entitled to a payment, in cash, of $[●] per share of Class B Stock held by such holder at the effective time of the Liquidation Event.