Common use of Liquidation Preferences Clause in Contracts

Liquidation Preferences. (a) In the event of any liquidation, dissolution or winding up of the affairs of the Corporation, whether voluntary or involuntary, the holders of Class A Preferred Stock shall be entitled to receive out of the assets of the Corporation available for distribution to stockholders an amount equal to $400.00 per share plus an amount equal to any accrued and unpaid dividends thereon to and including the date of such distribution, and no more, before any distribution shall be made to the holders of Common Stock or any other class of stock of the Corporation ranking junior to the Class A Preferred Stock as to the distribution of assets. After payment of such liquidating distributions, the holders of shares of Class A Preferred Stock will not be entitled to any further participation in any distribution of assets by the Corporation. (b) In the event the assets of the Corporation available for distribution to stockholders upon any liquidation, dissolution or winding up of the affairs of the Corporation, whether voluntary or involuntary, shall be insufficient to pay in full the amounts payable with respect to the Class A Preferred Stock and any other shares of Preferred Stock ranking on a parity with the Class A Preferred Stock as to the distribution of assets, the holders of Class A Preferred Stock and the holders of such other Preferred Stock shall share ratably in any distribution of assets of the Corporation in proportion to the full respective preferential amounts to which they are entitled. (c) The merger or consolidation of the Corporation into or with any other corporation, the merger or consolidation of any other corporation into or with the Corporation or the sale of the assets of the Corporation substantially as an entirety shall not be deemed a liquidation, dissolution or winding up of the affairs of the Corporation within the meaning of this Section 3.

Liquidation Preferences. (a) In Subject to the preferences of the holders of the Senior Stock, if any, in the event of any liquidation, dissolution or winding up of the affairs of the Corporation, whether voluntary or involuntary, the holders of Class the shares of this Series A Preferred Stock shall be entitled to receive out of the assets of the Corporation available for distribution to stockholders an amount equal to $400.00 per share the Stated Value plus an amount equal to any Dividends accrued and unpaid dividends through the most recent Payment Date and accumulated thereon since the most recent Payment Date in preference to and including the date of such distributionholders of, and no more, before any distribution is made on, any Junior Stock. (b) Neither the sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all the property and assets of the Corporation nor the merger or consolidation of the Corporation with any other corporation into or with the Corporation, shall be made deemed to be a liquidation, dissolution or winding up, voluntary or involuntary for the purposes of this subparagraph (b) of this Section 9. (c) After the payment to the holders of Common Stock or any other class the shares of stock this Series A of the Corporation ranking junior to the Class A Preferred Stock as to the distribution of assets. After payment of such liquidating distributionsfull preferential amounts provided for in this Section 9, the holders of shares of Class this Series A Preferred Stock will not be entitled as such shall have no right or claim to any further participation in any distribution of the remaining assets by of the Corporation. (bd) In the event the assets of the Corporation available for distribution to stockholders the holders of shares of this Series A upon any liquidation, dissolution or winding up of the affairs of the Corporation, whether voluntary or involuntary, shall be insufficient to pay in full the amounts payable with respect to the Class A Preferred Stock and any other shares of Preferred Stock ranking on a parity with the Class A Preferred Stock as to the distribution of assets, the holders of Class A Preferred Stock and the holders of such other Preferred Stock shall share ratably in any distribution of assets of the Corporation in proportion to the full respective preferential all amounts to which they such holders are entitled. entitled pursuant to subparagraph (ca) The merger or consolidation of the Corporation into or with any other corporationthis Section 9, the merger or consolidation no such distribution shall be made on account of any other corporation into or with the Corporation or the sale shares of the assets of the Corporation substantially as an entirety shall not be deemed a any Parity Stock upon such liquidation, dissolution or winding up unless proportionate distributable amounts shall be paid on account of the affairs of the Corporation within the meaning shares of this Section 3Series A, ratably, in proportion to the full distributable amounts for which holders of all this Series A and Parity Stock are entitled upon such liquidation, dissolution or winding up.

Liquidation Preferences. (a) In the event of any liquidation, dissolution or winding up of the affairs of the Corporation, whether voluntary or involuntary, the holders of Class A Preferred Stock shall be entitled to receive out of the assets of the Corporation available for distribution to stockholders an amount equal to $400.00 per share plus an amount equal to any accrued and unpaid dividends thereon to and including the date of such distribution, and no more, before any distribution shall be made to the holders of Common Stock or any other class of stock of the Corporation ranking junior to the Class A Preferred Stock as to the distribution of assets. After payment of such liquidating distributions, the holders of shares of Class A Preferred Stock will not be entitled to any further participation in any distribution of assets by the Corporation. (b) In the event the assets of the Corporation available for distribution to stockholders upon any liquidation, dissolution or winding up of the affairs of the Corporation, whether voluntary or involuntary, shall be insufficient to pay in full the amounts payable with respect to the Class A Preferred Stock and any other shares of Preferred Stock ranking on a parity with the Class A Preferred Stock as to the distribution of assets, the holders of Class A Preferred Stock and the holders of such other Preferred Stock shall share ratably in any distribution of assets of the Corporation in proportion to the full respective preferential amounts to which they are entitled.other (c) The merger or consolidation of the Corporation into or with any other corporation, the merger or consolidation of any other corporation into or with the Corporation or the sale of the assets of the Corporation substantially as an entirety shall not be deemed a liquidation, dissolution or winding up of the affairs of the Corporation within the meaning of this Section 3.