Common use of EQUAL RANK Clause in Contracts

EQUAL RANK. All shares of Series B Preferred Stock shall be identical in all respects, and all shares of Series A Preferred Stock shall be of equal rank with (i) shares of $2.85 Non-Voting Cumulative Preferred Stock, Series A, and (ii) $2.50 Convertible Preference Stock, Series C, in respect of the preference as to dividends and to payments upon the Liquidation of the Corporation." (d) Either a certificate of amendment or a certificate of restatement of such certificate, reflecting the amendments set forth in paragraphs (a) through (c), shall have been filed in the office of the Secretary of State of the State of New Jersey, pursuant to Section 14A:9-4(5) or Section 14A:9-5(5) of the New Jersey Business Corporation Act.

EQUAL RANK. All shares of Series B Preferred Stock shall be identical in all respects, and all shares of Series A B Preferred Stock shall be of equal rank with (i) shares of $2.85 Non-Voting Cumulative Preferred Stock, Series A, and (ii) $2.50 Convertible Preference Stock, Series C, in respect of the preference as to dividends and to payments upon the Liquidation of the Corporation." (d) Either a certificate of amendment or a certificate of restatement of such certificate, reflecting the amendments set forth in paragraphs (a) through (c), shall have been filed in the office of the Secretary of State of the State of New Jersey, pursuant to Section 14A:9-4(5) or Section 14A:9-5(5) of the New Jersey Business Corporation Act.