Examples of Investor Preferred Stock in a sentence
Also note that this definition permits sales by Key Holders of any Preferred Stock owned by Key Holders and any Common Stock received upon conversion of any Preferred Stock owned by Key Holders, on the theory that those shares have been purchased and should be treated the same as shares of Investor Preferred Stock.
Any Preferred Director may be removed from office (A) with or without cause by holders of a majority of the shares of Common Stock issuable upon conversion of the then-outstanding shares of Investor Preferred Stock or (B) only for cause by the holders of a majority of the then-outstanding shares of Common Stock, provided that in such case the holders of Investor Preferred Stock shall not be entitled to vote on an as-converted basis with the Common Stock with respect to such removal for cause.
Upon the occurrence of a Non-Constituent Issuer Fundamental Change, the terms of office of all Preferred Directors shall immediately end, such persons shall cease to be directors, and the holders of shares of Investor Preferred Stock shall not have any right to elect or appoint Preferred Directors to replace the directors whose terms of office shall have ended.
If the holders of Investor Preferred Stock fail to elect a number of Preferred Directors sufficient to fill the Board Representation Entitlement, then any directorship not so filled shall remain vacant until such time as the holders of Investor Preferred Stock fill such directorship by vote or by written consent in lieu of a meeting; and no such directorship may be filled by stockholders of the Company other than the holders of Investor Preferred Stock.
From and after the Transition Time, the holders of shares of Investor Preferred Stock shall not have any right, voting as a separate class, to elect or appoint a Preferred Director to replace such director.