Common use of Junior Clause in Contracts

Junior. Junior to any issued and outstanding Class or Series of capital stock established after the Original Issue Date by the Board of Directors, the terms of which Class or Series expressly provide that it ranks senior to the Series H Preferred Shares as to dividend distributions and distributions upon any Liquidation Event (collectively referred to as “Senior Securities”). The Corporation may issue Junior Securities and, subject to Section 5(c)(2) of this Statement of Designation, Parity Securities from time to time in one or more Series without the consent of the holders of the Series H Preferred Shares. The Board of Directors has the authority to determine the preferences, powers, qualifications, limitations, restrictions and special or relative rights or privileges, if any, of any such Series before Table of Contents the issuance of any shares of that series. The Board of Directors shall also determine the number of shares constituting each Series of securities.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Seaspan CORP)

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Junior. Junior to any issued and outstanding Class class or Series series of capital stock established after the Original Issue Date by the Board of Directors, the terms of which Class class or Series series expressly provide that it ranks senior to the Series H I Preferred Shares as to dividend distributions and distributions upon any Liquidation Event (collectively referred to as “Senior Securities”). The Corporation may issue Junior Securities and, subject to Section 5(c)(2) of this Statement of Designation, Parity Securities from time to time in one or more Series series without the consent of the holders of the Series H I Preferred Shares. The Board of Directors has the authority to determine the preferences, powers, qualifications, limitations, restrictions and special or relative rights or privileges, if any, of any such Series series before Table of Contents the issuance of any shares of that series. The Board of Directors shall also determine the number of shares constituting each Series series of securities.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Seaspan CORP)

Junior. Junior to any issued and outstanding Class class or Series series of capital stock established after the Original Issue Date by the Board of Directors, the terms of which Class class or Series series expressly provide that it ranks senior to the Series H D Preferred Shares as to dividend distributions and distributions upon any Liquidation Event (collectively referred to as “Senior Securities”). The Corporation may issue Junior Securities and, subject to Section 5(c)(2) of this Statement of Designation, Parity Securities from time to time in one or more Series series without the consent of the holders of the Series H D Preferred Shares. The Board of Directors has the authority to determine the preferences, powers, qualifications, limitations, restrictions and special or relative rights or privileges, if any, of any such Series series before Table of Contents the issuance of any shares of that series. The Board of Directors shall also determine the number of shares constituting each Series series of securities.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Seaspan CORP)

Junior. Junior to any issued and outstanding Class or Series of capital stock established after the Original Issue Date by the Board of Directors, the terms of which Class or Series expressly provide that it ranks senior to the Series H G Preferred Shares as to dividend distributions and distributions upon any Liquidation Event (collectively referred to as “Senior Securities”). The Corporation may issue Junior Securities and, subject to Section 5(c)(2) of this Statement of Designation, Parity Securities from time to time in one or more Series without the consent of the holders of Table of Contents the Series H G Preferred Shares. The Board of Directors has the authority to determine the preferences, powers, qualifications, limitations, restrictions and special or relative rights or privileges, if any, of any such Series before Table of Contents the issuance of any shares of that series. The Board of Directors shall also determine the number of shares constituting each Series of securities.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Seaspan CORP)

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Junior. Junior to any issued and outstanding Class class or Series series of capital stock established after the Original Issue Date by the Board of Directors, the terms of which Class class or Series series expressly provide that it ranks senior to the Series H E Preferred Shares as to dividend distributions and distributions upon any Liquidation Event (collectively referred to as “Senior Securities”). The Corporation may issue Junior Securities and, subject to Section 5(c)(2) of this Statement of Designation, Parity Securities from time to time in one or more Series series without the consent of the holders of the Series H E Preferred Shares. The Board of Directors has the authority to determine the preferences, powers, qualifications, limitations, restrictions and special or relative rights or privileges, if any, of any such Series series before Table of Contents the issuance of any shares of that series. The Board of Directors shall also determine the number of shares constituting each Series series of securities.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Seaspan CORP)

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