Examples of Class C Convertible Preferred Stock in a sentence
CLASS C CONVERTIBLE PREFERRED STOCK We have designated 10,000,000 shares of Class C Convertible Preferred Stock," par value $.001 per share (the "Class C Stock").
The holders of the Class C Convertible Preferred Stock shall be entitled to receive, out of funds legally available therefor, (i) when and if declared by at least four members of the Board of Directors, or (ii) upon any liquidation, dissolution or winding up of the Corporation, quarterly dividends at the rate per annum of $0.1008 per share (the "Class C Accruing Dividends").
It is in the best interests of the Corporation for the Board to create a new series from the Preferred Stock designated as the Series 3 Class C Convertible Preferred Stock, par value $.001.
Each certificate previously representing shares of Class A Junior Preferred Stock, Class B Senior Preferred Stock and Class C Convertible Preferred Stock, as applicable, outstanding immediately prior to the Conversion Time, shall represent from and after the Conversion Time the number of shares of Common Stock as determined in accordance with this Section 3 of ARTICLE FOUR, and such shares of Common Stock shall have the rights specified herein.
In lieu of fractional shares, the Corporation shall, at its option, (a) pay cash equal to such fractional amount multiplied by the IPO Price, or (b) issue the nearest whole number of shares of Common Stock, rounding up, issuable upon conversion of the Class A Junior Preferred Stock, Class B Senior Preferred Stock and Class C Convertible Preferred Stock, as applicable.
The shares of such series shall be designated as Class C Convertible Preferred Stock (the "Class C Preferred Stock") and the number of shares constituting such series shall be 600,000 and the stated value of the Class C Preferred Stock shall be $1.50 per share.
The applicant shall maintain good order and discipline during the activity.
So long as the outstanding Class C Convertible Preferred Stock represents at least 5% of the outstanding Common Stock of the Corporation (assuming the conversion of all outstanding Preferred Stock), the holders of the Class C Convertible Preferred Stock, acting as a separate class, shall be entitled to elect one director of the Corporation (the "Class C Director").
Class C Convertible Preferred Stock On January 7, 2015, the Company filed a Certificate of Designations for the creation of a class of Series C Preferred Stock with the Nevada Secretary of State.
No fractional shares of Common Stock will be issued upon the conversion of Class A Junior Preferred Stock, Class B Senior Preferred Stock and Class C Convertible Preferred Stock to Common Stock, as set forth in Section 3 of ARTICLE FOUR.