Series B Participating Preferred Stock definition

Series B Participating Preferred Stock means the Series B Convertible Participating Preferred Stock, par value $.01 per share, of BlackRock and any securities issued in respect thereof, or in substitution therefor, or in substitution therefor in connection with any stock split, dividend or combination, or any reclassification, recapitalization, merger, consolidation, exchange or other similar reorganization.

Series B Participating Preferred Stock has the meaning specified in Section 1.

Series B Participating Preferred Stock means the 6.00% Series B Participating Preferred Stock of the Parent with the preferences, conversion and other rights, voting powers, restrictions, limitations, qualifications and terms and conditions of redemption as described in the Series B Articles Supplementary.

Examples of Series B Participating Preferred Stock in a sentence

• If such Stock Issuance was a public offering and resulted in PNC's Ownership Percentage being diluted to 35%, then PNC would not be entitled to acquire additional Voting Securities or shares of Series B Participating Preferred Stock in connection with that Stock Issuance.

• If, however, a subsequent Stock Issuance diluted PNC's Ownership Percentage to, e.g., 30%, PNC would be entitled to acquire additional Voting Securities or shares of Series B Participating Preferred Stock which, after taking into account all of Xxxxxxx Xxxxx'x purchases pursuant to the comparable provision of its Second Amended and Restated Stockholder Agreement with BlackRock, dated the date hereof, would be sufficient to give PNC an Ownership Percentage of 90% of its initial Ownership Cap.