Series C Preferred definition
Examples of Series C Preferred in a sentence
Additionally, for the three (3) trading days following the trading day that the Common Stock initially is equal to or less than the Floor Price no holder may sell in the public market any shares of Common Stock received upon conversion of the Series C Preferred Stock.
Each holder and former holder of Series C Preferred Stock shall, in accordance with this provision, be entitled to sell up to their pro rata share of the Daily Limit on any trading day.
The available pro rata share of the Daily Limit for each such holder and former holder shall be calculated by dividing the number of shares of Series C Preferred Stock originally issued to such holder by the total number of shares of Series C Preferred Stock originally issued to all holders.
In furtherance thereof, ExxonMobil Renewables shall take all necessary steps to cause each of its Preferred Directors and Preferred Committee Observers (each as defined in the Certificate of Designation of Series C Preferred Stock) to resign from the Company’s board of directors (and each committee thereof), effective as of the Effective Date.
The First Closing shall be for $1,000,000 of the Purchase Price for the issuance of one million (1,000,000) shares of Series C Preferred Stock, which are convertible into less than or equal to 5% of the issued and outstanding shares of Common Stock of the Company immediately prior to the First Closing (the “First Closing Shares”).