Common use of Liquidation Payments Clause in Contracts

Liquidation Payments. (i) In the event of any liquidation, dissolution or winding up of the affairs of the Corporation, whether voluntary or involuntary (a “Liquidation Event”), before any distribution or payment shall be made to the holders of any other stock of the Corporation, (a) the holders of Series A Preferred Stock shall be entitled to be paid out of the assets of the Corporation available for distribution to holders of the Corporation’s capital stock an amount equal to $0.63 per share of Series A Preferred Stock (which amount shall be subject to equitable adjustment whenever there shall occur a stock dividend, stock split, combination of shares, reclassification or other similar event with respect to the Series A Preferred Stock; such price per share, the “Original Series A Per Share Price”), plus all dividends accrued or declared thereon but unpaid (if any), to and including the date full payment shall be tendered to the holders of the Series A Preferred Stock with respect to such liquidation, dissolution or winding up, and (b) the holders of Series B Preferred Stock shall be entitled to be paid out of the assets of the Corporation available for distribution to holders of the Corporation’s capital stock an amount equal to $1.43 per share of Series B Preferred Stock (which amount shall be subject to equitable adjustment whenever there shall occur a stock dividend, stock split, combination of shares, reclassification or other similar event with respect to the Series B Preferred Stock; such price per share, the “Original Series B Per Share Price”) plus all dividends accrued or declared thereon but unpaid (if any), to and including the date full payment shall be tendered to the holders of the Series B Preferred Stock with respect to such liquidation, dissolution or winding up. If the assets of the Corporation shall be insufficient to permit the payment in full to the holders of the Series A Preferred Stock and Series B Preferred Stock of all amounts distributable to them under this Subsection l(a)(i), then the entire assets of the Corporation available for such distribution shall be distributed ratably among the holders of the Series A Preferred Stock and Series B Preferred Stock in proportion to the full preferential amount each such holder is otherwise entitled to receive under this Subsection l(a)(i). No payment shall be made with respect to the Common Stock unless and until full payment has been made to the holders of the Preferred Stock of the amounts that they are entitled to receive under this Subsection l(a)(i).

Liquidation Payments. (i) In the event of any liquidation, dissolution or winding up of the affairs of the Corporation, whether voluntary or involuntary (a “Liquidation EventLiquidation”), before any distribution or payment shall be made to the holders of any other stock shares of the Corporation, (a) the holders of Series A B Preferred Stock shall be entitled to be paid paid, prior and in preference to any distribution of any of the assets of the Corporation to the holders of Series A Preferred Stock, Seed Preferred Stock or Common Stock by reason of their ownership thereof, out of the assets of the Corporation available for distribution to holders of the Corporation’s capital stock an amount equal to $0.63 per share of Series A Preferred Stock (which amount shall be subject to equitable adjustment whenever there shall occur a stock dividend, stock split, combination of shares, reclassification or other similar event with respect to the Series A Preferred Stock; such price per shareall classes, the “Original Series A Per Share Price”), plus all dividends accrued or declared thereon but unpaid (if any), to and including the date full payment shall be tendered to the holders amount of the Series A Preferred Stock with respect to such liquidation, dissolution or winding up, and (b) the holders of Series B Preferred Stock shall be entitled to be paid out of the assets of the Corporation available for distribution to holders of the Corporation’s capital stock an amount equal to $1.43 0.58 per share of Series B Preferred Stock (which amount shall be subject to equitable adjustment whenever there shall occur a stock dividend, stock split, combination of shares, reclassification or other similar event with respect to the Series B Preferred Stock; such price per share, the “Original Series B Per Share Price”) plus all dividends accrued or and/or declared thereon but unpaid (if any)unpaid, to and including the date full payment shall be tendered to the holders of the Series B Preferred Stock Stock, with respect to such liquidation, dissolution or winding upup (the aggregate amount payable to all holders of Series B Preferred Stock in respect of all shares of Series B Preferred Stock pursuant to this Subsection 1(a)(i) of this Article FOURTH, “Series B Liquidation Payment”). If the assets of the Corporation shall be insufficient to permit the payment in full to the holders of the Series A Preferred Stock and Series B Preferred Stock of all amounts so distributable to them under this Subsection l(a)(i)them, then the entire assets of the Corporation available for such distribution shall be distributed ratably among the holders of the Series A Preferred Stock and Series B Preferred Stock in proportion to the full preferential amount each such holder is otherwise entitled to receive under this Subsection l(a)(i)1(a)(i) of this Article FOURTH. No payment shall be made with respect to the Series A Preferred Stock, the Seed Preferred Stock or the Common Stock unless and until full payment has been made to the holders of the Series B Preferred Stock of the amounts that they are entitled to receive under this Subsection l(a)(i)1(a)(i) of this Article FOURTH.

Liquidation Payments. (i) In the event of any liquidation, dissolution or winding up of the affairs of the Corporation, whether voluntary or involuntary (a “Liquidation EventLiquidation”), before any distribution or payment shall be made to the holders of any other stock shares of the Corporation, (a) Series C Preferred Stock and the holders of Series A B Preferred Stock shall be entitled to be paid paid, prior and in preference to any distribution of any of the assets of the Corporation to the holders of Series A Preferred Stock, Seed Preferred Stock or Common Stock by reason of their ownership thereof, out of the assets of the Corporation available for distribution to holders of the Corporation’s capital stock an of all classes, the amount equal to of $0.63 0.58 per share of Series A C Preferred Stock and $0.58 per share of Series B Preferred Stock (in each case, which amount amounts shall be subject to equitable adjustment whenever there shall occur a stock dividend, stock split, combination of shares, reclassification or other similar event with respect to the Series A C Preferred Stock or the Series B Preferred Stock; such price per share, the “Original Series A Per Share Price”), as applicable) plus all dividends accrued or and/or declared thereon but unpaid (if any)unpaid, to and including the date full payment shall be tendered to the holders of the Series A C Preferred Stock and the Series B Preferred Stock, with respect to such liquidation, dissolution or winding upup (the aggregate amount payable to all holders of Series C Preferred Stock in respect of all shares of Series C Preferred Stock pursuant to this Section 1(a)(i) of this Article FOURTH, the “Series C Liquidation Payment” and (b) the aggregate amount payable to all holders of Series B Preferred Stock shall be entitled to be paid out in respect of the assets of the Corporation available for distribution to holders of the Corporation’s capital stock an amount equal to $1.43 per share all shares of Series B Preferred Stock (which amount shall be subject pursuant to equitable adjustment whenever there shall occur a stock dividend, stock split, combination this Section 1(a)(i) of shares, reclassification or other similar event with respect to the Series B Preferred Stock; such price per sharethis Article FOURTH, the “Original Series B Per Share PriceLiquidation Payment”) plus all dividends accrued or declared thereon but unpaid (if any), to and including the date full payment shall be tendered to the holders of the Series B Preferred Stock with respect to such liquidation, dissolution or winding up. If the assets of the Corporation shall be insufficient to permit the payment in full to the holders of the Series A C Preferred Stock and the Series B Preferred Stock of all amounts so distributable to them under this Subsection l(a)(i)them, then the entire assets of the Corporation available for such distribution shall be distributed ratably among the holders of the Series A C Preferred Stock and the Series B Preferred Stock on a pari passu basis in proportion to the full preferential amount each such holder is otherwise entitled to receive under this Subsection l(a)(i)Section 1(a)(i) of this Article FOURTH. No payment shall be made with respect to the Series A Preferred Stock, the Seed Preferred Stock or the Common Stock unless and until full payment has been made to the holders of the Series C Preferred Stock and the Series B Preferred Stock of the amounts that they are entitled to receive under this Subsection l(a)(i)Section 1(a)(i) of this Article FOURTH.