Examples of Series A Convertible Preferred Stock in a sentence
In the event that the Mandatory Conversion Right is exercised with respect to shares of Series A Convertible Preferred Stock representing less than all the shares of Series A Convertible Preferred Stock outstanding at such time, the shares to be converted shall be converted by the Corporation or the Transfer Agent on a pro rata basis based on the then-outstanding shares of Series A Convertible Preferred Stock or, if applicable, in accordance with the applicable procedures of DTC.
The rights, preferences, powers, restrictions and limitations of the Series A Convertible Preferred Stock shall be as set forth herein.
The Corporation shall not issue any fractional shares of Common Stock upon conversion of Series A Convertible Preferred Stock and in the event that any conversion of the shares of Series A Convertible Preferred Stock would result in the issuance of a fractional share, the number of shares of Common Stock issued or issuable to such Holder shall be rounded up to the nearest whole share of Common Stock.
For the avoidance of doubt, the adjustments provided in this Section 7.7 may not result in the Holders exceeding the Beneficial Ownership Limitation or, until such time as the Requisite Stockholder Approval has been obtained, the Conversion Share Cap per share of Series A Convertible Preferred Stock.
Subject to the final sentence of Section 7.4(a), any purported conversion (and delivery of shares of Common Stock upon conversion of the Series A Convertible Preferred Stock) will be void and have no effect to the extent, but only to the extent, that such conversion and delivery would result in any Holder becoming the Beneficial Owner of shares of Common Stock outstanding at such time in excess of the Beneficial Ownership Limitation.