Common use of Maturity Redemption Clause in Contracts

Maturity Redemption. The Series A Preferred Stock shall be perpetual, unless converted in accordance with these Articles of Amendment. The Series A Preferred Stock will not be redeemable at the option of the Corporation or any Holder at any time. Notwithstanding the foregoing, nothing contained herein shall prohibit the Corporation from repurchasing or otherwise acquiring shares of Series A Preferred Stock in voluntary transactions with the Holders. Any shares of Series A Preferred Stock repurchased or otherwise acquired may be cancelled by the Corporation and thereafter be reissued as shares of any series of preferred stock of the Corporation.

Appears in 4 contracts

Sources: Securities Purchase Agreement (Highlands Bankshares Inc /Va/), Securities Purchase Agreement (Highlands Bankshares Inc /Va/), Securities Purchase Agreement (Highlands Bankshares Inc /Va/)

Maturity Redemption. The Series A D Preferred Stock shall be perpetual, perpetual unless converted in accordance with these Articles this Certificate of AmendmentDesignation. The Series A D Preferred Stock will not be redeemable at the option of the Corporation or any Holder holder of Series D Preferred Stock at any time. Notwithstanding the foregoing, nothing contained herein shall prohibit the Corporation from repurchasing or otherwise acquiring shares of Series A D Preferred Stock in voluntary transactions with the Holdersholders thereof. Any shares of Series A D Preferred Stock repurchased or otherwise acquired may be cancelled by the Corporation and thereafter be reissued as shares of any series of preferred stock of the Corporation.

Appears in 2 contracts

Sources: Securities Purchase Agreement (Origin Bancorp, Inc.), Securities Purchase Agreement (Origin Bancorp, Inc.)

Maturity Redemption. The Series A Preferred Stock shall be perpetual, perpetual unless converted in accordance with these Articles this Certificate of AmendmentDesignation. The Series A Preferred Stock will not be redeemable at the option of the Corporation or any Holder holder of Series A Preferred Stock at any time. Notwithstanding the foregoing, nothing contained herein shall prohibit the Corporation from repurchasing or otherwise acquiring shares of Series A Preferred Stock in voluntary transactions with the Holdersholders thereof. Any shares of Series A Preferred Stock repurchased or otherwise acquired may be cancelled by the Corporation and thereafter be reissued as shares of any series of preferred stock of the Corporation.

Appears in 1 contract

Sources: Reorganization Agreement and Plan of Share Exchange (TGR Financial, Inc.)