Series C Preferred Stock definition
Examples of Series C Preferred Stock in a sentence
At each Closing, such Purchaser shall deliver to the Company, via wire transfer to an account designated by the Company, immediately available Dollars or by conversion or cancellation of indebtedness (including the Vendor Payables) equal to such Purchaser’s Subscription Amount, and the Company shall issue to such Purchaser its shares of Series C Preferred Stock in uncertificated form by reflecting such issuance on the Company’s books and records and a Warrant registered in the name of such Purchaser.
Without limiting the preceding sentences, no ink-original Notice of Conversion shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Conversion form be required in order to convert shares of Series C Preferred Stock.
The Company shall initially duly authorize and reserve 1,000 shares of Series C Preferred Stock and thereafter shall have a sufficient number of duly authorized shares of Series C Preferred Stock to be able to issue the Preferred Shares to the Purchaser.
Upon the terms and subject to the conditions set forth herein, the Company agrees to sell, and the Purchaser agrees, severally and not jointly, to purchase, at the Closing the number of shares of Series C Preferred Stock and Warrants applicable to such Purchaser as set forth on Schedule I.
If all or any portion of Series C Preferred Stock and Warrant, is at a time when there is an effective registration statement to cover the resale of the Conversion Shares and Warrant Shares, may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Conversion Shares and Warrant Shares, as applicable, shall be issued free of all legends.