Buyer Preferred Stock definition
Examples of Buyer Preferred Stock in a sentence
Each share of Buyer Preferred Stock shall have voting rights equivalent to the number of shares of Common Stock into which it is convertible.
All outstanding shares of Buyer Common Stock are, and all shares of Buyer Common Stock subject to issuance upon conversion of outstanding shares of Buyer Preferred Stock will be, upon issuance, duly authorized, validly issued, fully paid and nonassessable.
All of the issued and outstanding shares of Buyer Common Stock and Buyer Preferred Stock have been duly authorized and validly issued and are fully paid, nonassessable and free of preemptive rights, with no personal liability attaching to the ownership thereof.
Should any event described in SECTION 1.8(d) occur prior to conversion of Buyer Preferred Stock, an equitable adjustment to the conversion ratio of Buyer Preferred Stock into Buyer Common Stock shall be made.
No certificates or scrip representing fractional shares of Buyer Preferred Stock shall be issued upon the surrender for exchange of Certificates pursuant to this Article I; no dividend or other distribution by Buyer and no stock split, combination or reclassification shall relate to any such fractional share; and no such fractional share shall entitle the record or beneficial owner thereof to vote or to any other rights of a stockholder of Buyer.