Examples of Newco Preferred Shares in a sentence
Each certificate representing Company Preferred Shares shall thereafter represent the right to receive Newco Preferred Shares.
The Newco Common Shares to be issued in the Recapitalization and the Merger or upon exercise of the Grace Options after the Recapitalization and the Newco Preferred Shares to be issued in the Recapitalization will, upon such issuance, be duly authorized, fully paid, validly issued and nonassessable.
Each share of 7-1/2% Cumulative Convertible Preferred Stock, $0.05 par value per share, of the Company ("Company Preferred Shares") issued and outstanding immediately prior to the Effective Time shall be converted into the right to receive one (1) validly issued, fully paid and non-assessable share of 7-1/2% Cumulative Convertible Preferred Stock, $0.05 par value per share, of Newco ("Newco Preferred Shares').
Xxxxxxx agrees that the certificates representing the Newco Preferred Shares may bear a legend referring to the transfer restrictions of this Section 4.19.
Upon consummation of the Xxxxxxx Contribution, Xxxxxxx will acquire title to the Newco Preferred Shares, free and clear of all Liens, other than those arising solely from the actions or status of Xxxxxxx.