Common use of Conversion by Holders Clause in Contracts

Conversion by Holders. (a) The Series C Voting Preferred Stock will be convertible at any time into Wings common stock on the basis set forth below in this Section 3.1. Except to the extent otherwise provided in Section 3.1(b) or 3.8(c), each share of Series C Voting Preferred Stock will be convertible into 1.364 shares of common stock, which shares of common stock will initially consist of one share of Class A Voting Common Stock, par value $.01 per share, of Wings (“Class A Voting Common Stock”) and .364 of a share of Class B Non-Voting Common Stock, par value $.01 per share, of Wings (the “Class B Non-Voting Common Stock”), which fraction has been calculated to be in such an amount so that the ratio of the number of then outstanding shares of Wings voting common stock to the number of then outstanding shares of Wings non-voting common stock would not be altered by the conversion of such Series C Voting Preferred Stock.

Conversion by Holders. (a) The Series C Voting Preferred Stock will be convertible at any time into Wings common stock on the basis set forth below in this Section 3.1. Except to the extent otherwise provided in Section 3.1(b) or 3.8(c), each share of Series C Voting Preferred Stock will be convertible into 1.364 shares of common stock, which shares of common stock will initially consist of one share of Class A Voting Common Stock, par value $.01 per share, of Wings (“Class A Voting Common Stock”) and .364 ..364 of a share of Class B Non-Voting Common Stock, par value $.01 per share, of Wings (the “Class B Non-Voting Common Stock”), which fraction has been calculated to be in such an amount so that the ratio of the number of then outstanding shares of Wings voting common stock to the number of then outstanding shares of Wings non-voting common stock would not be altered by the conversion of such Series C Voting Preferred Stock.