Excess Stock definition

Excess Stock means any Class A Stock or Class B Stock owned by a Member that the Member is not required to hold either as a condition of retaining its membership in its FHLBank or as a condition of obtaining advances or transacting other business with its FHLBank.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Excess Stock means Excess Stock as defined in Section 7.4 of the Company's Amended and Restated Articles of Incorporation.

Excess Stock means shares of Common Stock and shares of Preferred Stock that have been automatically converted to Excess Stock pursuant to the provisions of Item (iii) of this Subsection (d) of this Section 2 of this Article III, and which are subject to the provisions of Subsection (e) of this Section 2 of this Article III.

Examples of Excess Stock in a sentence

• As provided in the Articles of Incorporation or Articles Supplementary, upon the happening of certain events, shares of Stock shall be deemed to automatically constitute Excess Stock.

• In addition, if the Ownership Limit Waiver is not effective as a result of the operation of any clause(s) of the preceding sentence, the Equity Stock of the Company that otherwise would be Excess Stock shall be deemed to have been transferred to the Company in accordance with subparagraph (b)(1) of Article IX of the Declaration.

• As of the date hereof, no shares of Company Excess Stock or Company Preferred Stock are issued and outstanding.

• The authorized capital stock of the Company consists of 2,500,000 shares of Common Stock, 1,500,000 shares of "excess stock", par value $0.01 per share ("Company Excess Stock"), and 500,000 shares of preferred stock, par value $0.01 per share ("Company Preferred Stock").

• In addition, if the Ownership Limit Waiver ceases to be effective as a result of the operation of the preceding sentence, the shares of Equity Stock of the Company that would otherwise be Excess Stock shall be deemed to have been transferred to the Company in accordance with subparagraph (b)(1) of Article IX of the Declaration.

More Definitions of Excess Stock

Excess Stock has the meaning set forth in Section 3.5(a).

Excess Stock means any shares of Capital Stock held by a member (or its successor) in excess of the member's Stock Requirement.

Excess Stock means those shares of Series S Preferred Stock Constructively Owned by a Person in excess of the Ownership Limit.

Excess Stock means Excess Stock as defined in Section 7.4 of the Company’s Amended and Restated Articles of Incorporation.

Excess Stock of a Member or Former Member means the amount of Capital Stock held by the Member or Former Member that exceeds the amount of Capital Stock that the Member or Former Member is required to own in accordance with the provisions of the Capital Plan.

Excess Stock means the Stock held by a Holder that is in excess of that Holder's current Total Stock Purchase Requirement.

Excess Stock shall have the meaning set forth in Article VI of the Articles of Incorporation.