Series BB Preferred Shares definition

Series BB Preferred Shares means Series BB-1 Preferred Shares, Series BB-2 Preferred Shares and Series BB-3 Preferred Shares.

Series BB Preferred Shares means shares of Series BB Preferred Stock, no par value, of the Company having the terms set forth in the Articles of Amendment to the Articles of Incorporation of Malibu Entertainment Worldwide, Inc. filed with the Secretary of State of the State of Georgia on July ____, 1999.

Examples of Series BB Preferred Shares in a sentence

• The Corporation shall at all times reserve and keep available out of its authorized Common Shares, solely for the purpose of issuance upon conversion of Series BB Preferred Shares as herein provided, such number of Common Shares as shall then be issuable upon the conversion of all outstanding Series BB Preferred Shares.

• In the event that the Distribution Assets are not sufficient for distribution to the holders of the Series BB Preferred Shares pursuant to this subarticle (b), such Distribution Assets as are available for distribution, shall be distributed among the holders of the Series BB Preferred Shares pro-rata in proportion to the preferential amount each such holder is otherwise entitled to receive.

• Commencing upon issuance and terminating ten (10) years thereafter, the Series BB Preferred Shares may be converted, upon written notice to the Corporation, into Common Shares of the Corporation at the rate of six (6) Common Shares for each Series BB Preferred Share.

• On presentation and surrender to the Corporation at its offices of the certificate representing the Series BB Preferred Shares to be converted, the holder thereof shall be entitled to receive in exchange therefor certificates for the fully paid and non-assessable Common Shares of the Corporation at the rate aforesaid, all under suitable regulations to be prescribed by the board of directors of the Corporation.

• Fractional Common Shares shall not be issued upon conversion of Series BB Preferred Shares, nor shall cash adjustments be made for fractional shares upon such conversion.

• Conversion of Series BB Preferred Shares in the manner aforesaid shall not affect the right of the converting holder thereof to receive dividends accrued but unpaid thereon as of the dividend payment date immediately prior to conversion.