Series I Preferred Stock. The Certificate of Designation of Series I Preferred Stock shall be on substantially the same terms as the Company's Series G Preferred Stock, except that: (a) the conversion price of the Series I Preferred Stock shall be $4.00 per share; (b) if the Company consummates an equity financing of at least $1,000,000 with any third party (a "Qualified Equity Financing") at any time on or before December 31, 1999, and the securities issued by the Company in connection therewith are convertible into voting common stock at a conversion price of less than $4.00 per share, the conversion price of the Series I Preferred Stock shall be reset to such lower conversion price; (c) if the Company does not consummate a Qualified Equity Financing at any time on or before December 31, 1999, the $4.00 conversion price shall automatically be reset to not less than the greater of $1.00 or one-half of the average closing bid price of the Company's common stock on the Nasdaq SmallCap Market during the last twenty (20) consecutive trading days of 1999; and (d) the Company shall have the right to cause a mandatory conversion of the Series I preferred Stock into shares of the Company's voting common stock if the closing bid price of the Company's common stock on the Nasdaq SmallCap Market is at least $10.00 per share for a period of at least ninety (90) consecutive trading days.
Series I Preferred Stock. (i) The shares of Series I Preferred Stock purchased by the Purchaser hereunder will have the terms and provisions set forth in the Certificate of Designations.
Series I Preferred Stock. The Series I Preferred Stock shall be convertible into a number of Underlying Shares equal to 0.503% of the Fastcom Value.
Series I Preferred Stock. “Series I Preferred Stock” shall mean the Company’s Series I Preferred Stock, $0.001 par value per share, which has the rights, preferences and privileges set forth in the Certificate.
Series I Preferred Stock. The Company granted registration rights to the Breckenridge Fund, LLC ("Breckenridge"), in connection with the resale of shares of the Company's common stock issuable upon conversion of the Company's Series I 8% Convertible Preferred Stock. Also included in the transaction were an aggregate of 2,414,596 additional shares granted to Breckenridge or its designees, and warrants to purchase up to 965,839 shares of the Company's common stock. The Company filed a registration statement (SEC File No. 333-113290) on March 4, 2004, which was declared effective by the Commission on November 12, 2004. That registration statement registered the resale of up to 23,500,000 shares by Breckenridge. The Company filed another registration statement on May 19, 2005. That registration statement registered the resale of up to 30,000,000 shares by Breckenridge.
Series I Preferred Stock. The Company and Xx. Xxxxx hereby agree that the Company shall issue 1,958,670 shares of its common stock upon the conversion of the Series I Preferred Stock and accrued dividends. Simultaneous with the foregoing conversion, the Series I Preferred Stock, accrued dividends and other amounts due pursuant to instruments governing the rights of the holders of Series I Preferred Stock, if any, will be deemed satisfied in full, terminated and the Company shall have no further obligations to Xx. Xxxxx thereunder. In connection with any existing default or breach, enforceable against the Company by Xx. Xxxxx, that relates directly or indirectly to the Series I Preferred Stock, Xx. Xxxxx waives his right to enforce his rights in connection therewith.
Series I Preferred Stock. The Company has designated 500,000,000 shares of preferred stock as Series I Preferred Stock (“Series I”), with a par value of $0.001 per share, of which 193,894,167 shares were issued and outstanding as of Closing Date. Series I is awarded “Voting Right” at the ratio of 5 votes per share owned. Each one share of Series I converts to 2 shares of Common Stock.
Series I Preferred Stock. (i) As of the Effective Time, by virtue of the Smith's Merger and without any action on the part of the holder of xxx xxxres of capital stock of the corporations involved: each share of Series I Preferred Stock, par value $.01 per share, of Smith's ("Series I Preferred Stock") issued and outstanding immediaxxxx xxior to the Effective Time (other than shares of Series I Preferred Stock owned by the Fred Meyer Companies or held in the treasury of Smith's or owned by xxx Xxxxx's Company ("Smith's Preferred Treasurx Xxxxxs")) will, by virxxx xx the Mergers xxx xxthout any action on the part of the holder thereof, be converted into the right to receive in cash the amount of thirty-three and one-third cents ($.33 1/3) per share, without the payment of any interest thereon (the "Preferred Consideration"). Shares of Series I Preferred Stock other than those owned by the Fred Meyer Companies and other than the Smith's Preferred Treasury Xxxxex xxx referred to herein as the "Sexxxx X Preferred Shares." Notwithstanding the foregoing provisions of this Section 2.1(c)(i), no Series I Preferred Shares which constitute Dissenting Shares will be deemed to be converted into and to represent the right to receive the cash payment described above and holders of Dissenting Shares, if any, will be entitled to payment, solely from Smith's of the appraised value of such Dissenting Shares to the extxxx xxxmitted by and in accordance with Section 262 of the DGCL.
Series I Preferred Stock. (i) As long as any Series I Preferred Stock is outstanding, no shares of any Parity Securities may be purchased, redeemed or otherwise acquired by the Company or any of its subsidiaries (except with shares of, or warrants, rights or options exercisable for or convertible into shares of, Junior Securities and cash in lieu of fractional shares of such Junior Securities in connection therewith) unless the Series I Preferred Stock and such Parity Securities are purchased, redeemed or otherwise acquired pro rata so that the Fair Market Value of the consideration applied to the purchase, redemption or other acquisition of each share of Series I Preferred Stock and each other share of such Parity Securities will in all cases bear to each other the same ratio that the then effective Liquidation Preference per share of outstanding Series I Preferred Stock and the liquidation preference per share of such other outstanding shares of Parity Securities bear to each other.
Series I Preferred Stock. (i) increase the number of shares of authorized Series I Preferred Stock or Series H Preferred Stock or issue any additional shares of Series I Preferred Stock or Series H Preferred Stock, other than as contemplated by the terms of the Series I Preferred Stock or the Series H Preferred Stock;
