Examples of Capital Interests in a sentence
The execution, delivery and performance by the Credit Union of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized by all necessary action on the part of the Credit Union and its Members and other non-Member holders of Capital Interests (collectively, “Interest Holders”), and no further approval or authorization is required on the part of the Credit Union.
The outstanding Capital Interests in the Credit Union have been duly authorized and are validly issued and outstanding, fully paid and nonassessable.
The Credit Union’s ability to declare and pay dividends and purchase or acquire Capital Interests or other equity securities of any kind of any Credit Union Subsidiary or any Senior Subordinated Security is limited by the terms of the Agreement.
The Company’s common shares are quoted on the “Pink Sheets” quotation market under the symbol “KYNC”.In March 2015, the Board of Directors of the Company approved to issue 260,000 control shares of Convertible Series A Preferred Stock to KYN Capital Interests, Inc., for its services in connection with reorganization of the Company and as consideration for the acquisition of the KYN Capital Group, Inc.
Such issuance gave KYN Capital Interests, Inc a majority of the then issued and outstanding voting power, or 58.13%, of the Company, resulting in a change in control of the Company.