Flash Preferred definition
Examples of Flash Preferred in a sentence
Each holder of Flash Preferred shall be entitled to the number of votes equal to the number of shares of Common Stock into which the shares of Flash Preferred held by such holder could be converted as of the record date.
Holders of Flash Preferred shall be entitled to notice of any stockholders’ meeting in accordance with the Bylaws of the Corporation.
The Corporation shall, upon the written request at any time of any holder of Flash Preferred, furnish or cause to be furnished to such holder a like certificate setting forth (i) such adjustments and readjustments, (ii) the Conversion Price at the time in effect and (iii) the number of shares of Common Stock and the amount, if any, of other property which at the time would be received upon the conversion of Flash Preferred.
Upon the occurrence of each adjustment or readjustment of the Conversion Price pursuant to this Section 4, the Corporation at its expense shall promptly compute such adjustment or readjustment in accordance with the terms hereof and furnish to each holder of Flash Preferred a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based.
The number of shares of Common Stock into which each share of Flash Preferred may be converted is hereinafter referred to as the “Conversion Rate” for such series.
Upon any decrease or increase in the Conversion Price for the Flash Preferred, as described in this Section 4, the Conversion Rate shall be appropriately increased or decreased.
No fractional shares of Common Stock shall be issued upon conversion of Flash Preferred.
For such purpose, all shares of Flash Preferred held by each holder of Flash Preferred shall be aggregated, and any resulting fractional share of Common Stock shall be paid in cash.
The holders of shares of Flash Preferred shall be entitled to vote on all matters on which the Common Stock shall be entitled to vote.
Fractional votes shall not, however, be permitted and any fractional voting rights resulting from the above formula (after aggregating all shares into which shares of Flash Preferred held by each holder could be converted), shall be disregarded.