Preferred Holders definition
Examples of Preferred Holders in a sentence
Shares and Preferred Securities shall be deemed to be personal property giving Shareholders and Preferred Holders only the rights provided in the Declaration.
The Trustees shall have a lien on the assets belonging to the appropriate Series, or in the case of an expense allocable to more than one Series, on the assets of each such Series, prior to any rights or interests of the Shareholders and Preferred Holders thereto, for the reimbursement to them of such expenses, disbursements, losses and liabilities.
If there is a Dissolution Event before this instrument expires or terminates, the Company will pay (i) first to the Senior Preferred Holders any amounts due and payable to them in connection with a Dissolution Event under the Company’s certificate of incorporation (the “Senior Preferred Holders’ Payment”) and (ii) second an amount equal to the Purchase Amount, due and payable to the Investor immediately prior to, or concurrent with, the consummation of the Dissolution Event.
For the avoidance of doubt, as set forth in Article V, Section 7, the provisions of this Section 5 and the following Section 6 may be subject to provisions in one or more Securities Designations regarding the rights of Preferred Holders with respect to the nomination and election of Trustees.
In the absence of any notice from the Series A-1 Stockholders, MPM and the Specified Preferred Holders, the director(s) then serving and previously designated by the Series A-1 Stockholders, MPM and the Specified Preferred Holders, as applicable, shall be renominated.