Series A Preference Shares definition
Examples of Series A Preference Shares in a sentence
Dividends paid on the Series A Preference Shares in an amount less than the total amount of such dividends at the time accrued and payable on such shares shall be allocated pro rata on a share-by-share basis among all such shares at the time outstanding.
Concurrently, the Company has entered into a separate purchase agreement (the "MG Purchase Agreement") for the sale of an aggregate of 45,000 of the Company's Series A Cumulative Preference Shares (the "Series A Preference Shares") and 45,000 Warrants (the MG Warrants") to purchase and aggregate of 4,950,000 shares of Common Stock to ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Private Equity Limited (the "MG Purchaser").
Other than a conversion following a notice provided for under Section 6(d)(ii) hereof, the Notice of Conversion must specify at least a number of Series A Preference Shares to be converted equal to the lesser of: (x) 100 Ordinary Shares (such number subject to appropriate adjustment following the occurrence of an event specified in Section 6(a) hereof) and (y) the number of Series A Preference Shares then held by the Holder.
However, as long as any Series A Preference Shares are outstanding, the Company shall not, without the approval of the Holders of seventy-five percent (75%) of the then outstanding Series A Preference Shares, alter or change adversely the powers, preferences or rights attaching to the Series A Preference Shares or enter into any agreement with respect to the foregoing.
If, upon any such Liquidation Event, the assets of the Company shall be insufficient, after payment to any Senior Securities, to pay the holders of the Series A Preference Shares the amount required under the preceding sentence, then all remaining assets of the Company shall be distributed pro rata to holders of the Series A Preference Shares and Parity Securities.