Examples of Class O Common Stock in a sentence
Any shares of Class V Common Stock or Class O Common Stock surrendered in a Redemption or Direct Exchange shall automatically be deemed cancelled without any action on the part of any Person, including PubCo. Any such cancelled shares of Class V Common Stock or Class O Common Stock shall no longer be outstanding, and all rights with respect to such shares shall automatically cease and terminate.
The Class O Common Stock shares shall not be subject to front-end sales loads or contingent deferred sales charges.
SECOND: The Charter of the Corporation, as heretofore amended, is further amended by redesignating all of the issued and unissued shares of the Corporation's Class A Common Stock, Class C Common Stock and Common Stock that has not been further designated, respectively, as Class A Common Stock, Class C Common Stock and Class O Common Stock, respectively, of the Comstock Partners Strategy Fund series of the Corporation.
FIFTH: Each share of Common Stock, $1.00 par value per share, of the Corporation outstanding immediately prior to the effective time of these Articles of Amendment and Restatement shall be reclassified into one share of Class O Common Stock, $.001 par value per share, of the Corporation at the effective time.
The Board of Directors of the Corporation, without shareholder action, may amend these Articles of Incorporation to establish additional terms of the Class O Common Stock (or any series of the Class O Common Stock) pursuant to and in accordance with Section 16-10a-602 of the URBCA.
Dividends shall not be declared or paid on shares of Class B Common, Class E Common Stock, Class O Common Stock or Class V Common Stock.
The Corporation is authorized to issue Fifty Thousand (50,000) shares designated as "Class O Common Stock," each having no par value (the "Class O Common Stock").
The holders of shares of Class B Common Stock, Class E Common Stock, Class O Common Stock and/or shares of Class V Common Stock, as such, shall not be entitled to receive any assets of the Corporation in the event of any voluntary or involuntary liquidation, dissolution, or winding up of the affairs of the Corporation.
Any Transfer of Units to a Permitted Transferee of such Member by a Member which also holds (x) Class V Common Stock must be accompanied by the transfer of a corresponding number of shares of Class V Common Stock (determined based upon the Exchange Rate then in effect) to such Permitted Transferee and (y) Class O Common Stock must be accompanied by the transfer of a corresponding number of shares of Class O Common Stock (determined based upon the Exchange Rate then in effect) to such Permitted Transferee.
Each holder of Class O Common Stock shall be entitled to one (1) vote for each share of Class O Common Stock held of record by such holder.