Delaware Certificate of designation, preferences and rights of Series A junior cumulative preference stock of Oryx Energy Company

• Category: Corporations - Public - Changes Affecting Capital Stock
• State: Multi-State
• Control #: US-CC-3-132
• Format: Word; Rich Text

Description

This sample form, a detailed Certificate of Designation, Preferences and Rights of Series a Junior Cumulative Preference Stock document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats. The Delaware Certificate of Designation, Preferences, and Rights of Series A Junior Cumulative Preference Stock of Onyx Energy Company (hereinafter referred to as "Certificate") is a legal document that outlines the specific terms and conditions associated with a specific class of preferred stock offered by Onyx Energy Company — the Series A Junior Cumulative Preference Stock. The Certificate is filed with the state of Delaware and governs the rights, preferences, limitations, and other vital provisions related to the Series A Junior Cumulative Preference Stock. It creates a distinct class of shares within Onyx Energy's capital structure and establishes the unique features and benefits associated with the stock. Some essential elements covered by the Certificate may include: 1. Designation: The Certificate designates the series of preferred stock as Series A Junior Cumulative Preference Stock, distinguishing it from other classes or series of stock issued by the company. 2. Preference Rights: The Certificate outlines the preferential treatment afforded to the holders of the Series A Junior Cumulative Preference Stock. This could include priority in receiving dividends or liquidation proceeds over holders of common stock. 3. Cumulative Dividends: It may specify that the holders of Series A Junior Cumulative Preference Stock are entitled to receive dividends prior to any dividends being paid to holders of common stock. Additionally, if dividends were not paid in a particular period, they may accumulate and become payable in future periods. 4. Junior Ranking: The Certificate may clarify the junior ranking of the Series A Junior Cumulative Preference Stock relative to other preferred stock issued by the company. This means that in the case of liquidation or bankruptcy, the Series A stock may rank below other series of preferred stock but above common stock in terms of priority. 5. Conversion Rights: The Certificate might stipulate any conversion rights associated with the Series A Junior Cumulative Preference Stock, allowing the holders to convert their preferred stock into a specified number of common shares based on predetermined conversion terms. 6. Redemption Provisions: It may outline any provisions related to the redemption of the Series A Junior Cumulative Preference Stock, such as the company's ability to redeem the shares at a specified price or within a specific timeframe. 7. Voting Rights: The Certificate could determine the voting rights, if any, associated with the Series A Junior Cumulative Preference Stock. Preferred stockholders typically have limited or no voting rights, unlike common stockholders. It is worth noting that the Onyx Energy Company may issue various series of preferred stock, each with its own unique Certificate of Designation. While this description specifically focuses on the Series A Junior Cumulative Preference Stock, the company may issue other series with different preferences, rights, and characteristics, such as Series B Preferred Stock or Series C Preferred Stock. In conclusion, the Delaware Certificate of Designation, Preferences, and Rights of Series A Junior Cumulative Preference Stock of Onyx Energy Company is a crucial legal document that defines the specific rights, preferences, and limitations associated with this class of preferred stock. It ensures clarity and transparency between the company and its shareholders, providing protection and outlining the benefits of holding Series A Junior Cumulative Preference Stock.

The Delaware Certificate of Designation, Preferences, and Rights of Series A Junior Cumulative Preference Stock of Onyx Energy Company (hereinafter referred to as "Certificate") is a legal document that outlines the specific terms and conditions associated with a specific class of preferred stock offered by Onyx Energy Company — the Series A Junior Cumulative Preference Stock. The Certificate is filed with the state of Delaware and governs the rights, preferences, limitations, and other vital provisions related to the Series A Junior Cumulative Preference Stock. It creates a distinct class of shares within Onyx Energy's capital structure and establishes the unique features and benefits associated with the stock. Some essential elements covered by the Certificate may include: 1. Designation: The Certificate designates the series of preferred stock as Series A Junior Cumulative Preference Stock, distinguishing it from other classes or series of stock issued by the company. 2. Preference Rights: The Certificate outlines the preferential treatment afforded to the holders of the Series A Junior Cumulative Preference Stock. This could include priority in receiving dividends or liquidation proceeds over holders of common stock. 3. Cumulative Dividends: It may specify that the holders of Series A Junior Cumulative Preference Stock are entitled to receive dividends prior to any dividends being paid to holders of common stock. Additionally, if dividends were not paid in a particular period, they may accumulate and become payable in future periods. 4. Junior Ranking: The Certificate may clarify the junior ranking of the Series A Junior Cumulative Preference Stock relative to other preferred stock issued by the company. This means that in the case of liquidation or bankruptcy, the Series A stock may rank below other series of preferred stock but above common stock in terms of priority. 5. Conversion Rights: The Certificate might stipulate any conversion rights associated with the Series A Junior Cumulative Preference Stock, allowing the holders to convert their preferred stock into a specified number of common shares based on predetermined conversion terms. 6. Redemption Provisions: It may outline any provisions related to the redemption of the Series A Junior Cumulative Preference Stock, such as the company's ability to redeem the shares at a specified price or within a specific timeframe. 7. Voting Rights: The Certificate could determine the voting rights, if any, associated with the Series A Junior Cumulative Preference Stock. Preferred stockholders typically have limited or no voting rights, unlike common stockholders. It is worth noting that the Onyx Energy Company may issue various series of preferred stock, each with its own unique Certificate of Designation. While this description specifically focuses on the Series A Junior Cumulative Preference Stock, the company may issue other series with different preferences, rights, and characteristics, such as Series B Preferred Stock or Series C Preferred Stock. In conclusion, the Delaware Certificate of Designation, Preferences, and Rights of Series A Junior Cumulative Preference Stock of Onyx Energy Company is a crucial legal document that defines the specific rights, preferences, and limitations associated with this class of preferred stock. It ensures clarity and transparency between the company and its shareholders, providing protection and outlining the benefits of holding Series A Junior Cumulative Preference Stock.