Illinois Certificate of designation, preferences and rights of Series B junior cumulative convertible preference stock of Oryx Energy Company

• Category: Corporations - Public - Changes Affecting Capital Stock
• State: Multi-State
• Control #: US-CC-3-136
• Format: Word; Rich Text

Description

This sample form, a detailed Certificate of designation, preferences and rights of Series B junior cumulative convertible 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. Illinois Certificate of Designation for Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company The Illinois Certificate of Designation sets forth the specific details and provisions related to the Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company, a prominent energy corporation. This document outlines the preferences, rights, and designations attributed to this particular class of stock, fulfilling the regulatory requirements of the state of Illinois. The Series B Junior Cumulative Convertible Preference Stock is characterized by several distinguishing features that make it a unique investment option. It comes with specific preferences, rights, and cumulative provisions that offer additional advantages to the shareholders who hold this stock class. Here are some of the key aspects covered in the Illinois Certificate of Designation: 1. Conversion Rights: The Series B Junior Cumulative Convertible Preference Stock grants shareholders the right to convert their stock into a predetermined number of common shares. This conversion privilege provides flexibility to investors who may decide to benefit from the growth potential of the company's common stock in the future. 2. Cumulative Dividends: Holders of Series B Junior Cumulative Convertible Preference Stock are entitled to receive dividends at a fixed rate. These dividends accumulate over time and are payable before any dividends are distributed to shareholders of common stock. In the event that dividends are not paid in a particular period, they accrue and must be paid in full before any dividends can be paid to common shareholders. 3. Preferential Liquidation: In the case of liquidation, the holders of Series B Junior Cumulative Convertible Preference Stock has a preferential right to receive the initial liquidation proceeds before any distribution is made to common shareholders. This ensures that investors in this stock class have priority in recovering their investment in the event of a dissolution or winding up of the company. 4. Voting Rights: While Series B Junior Cumulative Convertible Preference Stockholders typically do not have voting rights, the Illinois Certificate of Designation may specify any exceptions or additional voting rights reserved for this stock class. Such provisions grant shareholders the opportunity to participate in certain critical corporate decisions if deemed necessary. It is essential to note that variations or modifications may exist in different versions of the Illinois Certificate of Designation for Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company. These changes might incorporate alterations to specific terms, conditions, or rights, depending on the unique circumstances or requirements at the time of issuance. Overall, the Illinois Certificate of Designation for Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company establishes a clear framework and sets forth the privileges, preferences, and rights associated with this exceptional stock class. Potential investors and current shareholders can refer to this document to gain a comprehensive understanding of the unique features and benefits that come with this particular investment opportunity.

Illinois Certificate of Designation for Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company The Illinois Certificate of Designation sets forth the specific details and provisions related to the Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company, a prominent energy corporation. This document outlines the preferences, rights, and designations attributed to this particular class of stock, fulfilling the regulatory requirements of the state of Illinois. The Series B Junior Cumulative Convertible Preference Stock is characterized by several distinguishing features that make it a unique investment option. It comes with specific preferences, rights, and cumulative provisions that offer additional advantages to the shareholders who hold this stock class. Here are some of the key aspects covered in the Illinois Certificate of Designation: 1. Conversion Rights: The Series B Junior Cumulative Convertible Preference Stock grants shareholders the right to convert their stock into a predetermined number of common shares. This conversion privilege provides flexibility to investors who may decide to benefit from the growth potential of the company's common stock in the future. 2. Cumulative Dividends: Holders of Series B Junior Cumulative Convertible Preference Stock are entitled to receive dividends at a fixed rate. These dividends accumulate over time and are payable before any dividends are distributed to shareholders of common stock. In the event that dividends are not paid in a particular period, they accrue and must be paid in full before any dividends can be paid to common shareholders. 3. Preferential Liquidation: In the case of liquidation, the holders of Series B Junior Cumulative Convertible Preference Stock has a preferential right to receive the initial liquidation proceeds before any distribution is made to common shareholders. This ensures that investors in this stock class have priority in recovering their investment in the event of a dissolution or winding up of the company. 4. Voting Rights: While Series B Junior Cumulative Convertible Preference Stockholders typically do not have voting rights, the Illinois Certificate of Designation may specify any exceptions or additional voting rights reserved for this stock class. Such provisions grant shareholders the opportunity to participate in certain critical corporate decisions if deemed necessary. It is essential to note that variations or modifications may exist in different versions of the Illinois Certificate of Designation for Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company. These changes might incorporate alterations to specific terms, conditions, or rights, depending on the unique circumstances or requirements at the time of issuance. Overall, the Illinois Certificate of Designation for Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company establishes a clear framework and sets forth the privileges, preferences, and rights associated with this exceptional stock class. Potential investors and current shareholders can refer to this document to gain a comprehensive understanding of the unique features and benefits that come with this particular investment opportunity.