Common use of Senior Securities Clause in Contracts

Senior Securities. The Board of Directors is authorized to fix or alter the rights, preferences, privileges, and restrictions granted to or imposed upon additional series of Preferred Stock, and the number of shares constituting any such series and the designation thereof, or of any of them. Subject to compliance with applicable protective voting rights which have been or may be granted to the Preferred Stock or any series thereof in Certificates of Designation (including Section 10 hereof), the Corporation's Restated Articles of Incorporation or the Nevada General Corporation Law ("Protective Provisions"), the rights, privileges, preferences, and restrictions of any such additional series of Preferred Stock may be subordinated to, PARI PASSU with, or senior in any respect to any of those of the Series B Preferred Stock or any future class or series of Preferred Stock. Such senior securities are referred to as "Senior Securities."