Nevada 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. The Nevada Certificate of Designation outlines the specific preferences and rights associated with the Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company. This designation is crucial in providing investors with a clear understanding of their ownership and benefits within the company. Below, we will explore in detail the key features and different types of the Nevada Certificate of Designation for the Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company. The Nevada Certificate of Designation establishes the preferences and rights of the Series B Junior Cumulative Convertible Preference Stock, granting certain advantages to investors who hold this particular class of stock. The Series B stock carries specific characteristics, making it distinct from other classes of stock issued by Onyx Energy Company. Some relevant keywords related to the Nevada Certificate of Designation for the Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company may include: 1. Convertible Stock: The Series B stock is convertible, meaning that holders have the option to convert their shares into a different class of stock, usually common stock, at their discretion. 2. Junior Stock: Being classified as junior stock, the Series B stock ranks below senior securities, such as bonds, in terms of priority during liquidation or bankruptcy proceedings. Shareholders of junior stock usually have lower priority in receiving payments or assets during these scenarios compared to senior stockholders. 3. Cumulative Preference Stock: The Series B stock is cumulative, meaning that if dividend payments are skipped in a given year, they accumulate and must be paid out to shareholders in the future before any dividends can be distributed to holders of common stock. 4. Preference Rights: The Series B stockholders enjoy preference rights, which may include priority dividend payments over common stockholders and the right to receive a predetermined amount of assets in the event of liquidation. 5. Voting Rights: The Nevada Certificate of Designation also specifies the voting rights attached to the Series B stock. While preferences and rights are crucial, shareholders may also have voting power on certain corporate matters, such as the election of board members or significant company decisions. 6. Liquidation Preferences: The Nevada Certificate of Designation may outline the liquidation preferences of the Series B stock. In case of liquidation or dissolution of the company, Series B stockholders may have priority in receiving their investment back before other shareholders, based on the predetermined terms stated in the designation. It is important to note that the Series B Junior Cumulative Convertible Preference Stock may have different classes within itself. These classes could be differentiated based on various features, such as the conversion price, dividend rights, or voting rights. Each class would have its own Nevada Certificate of Designation, precisely outlining the specific preferences and rights associated with that particular class. In conclusion, the Nevada Certificate of Designation for the Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company encompasses crucial provisions related to the preferences and rights of shareholders holding this class of stock. By clearly defining their privileges, this designation provides transparency and clarity in understanding the benefits and obligations associated with investing in the Series B stock.

The Nevada Certificate of Designation outlines the specific preferences and rights associated with the Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company. This designation is crucial in providing investors with a clear understanding of their ownership and benefits within the company. Below, we will explore in detail the key features and different types of the Nevada Certificate of Designation for the Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company. The Nevada Certificate of Designation establishes the preferences and rights of the Series B Junior Cumulative Convertible Preference Stock, granting certain advantages to investors who hold this particular class of stock. The Series B stock carries specific characteristics, making it distinct from other classes of stock issued by Onyx Energy Company. Some relevant keywords related to the Nevada Certificate of Designation for the Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company may include: 1. Convertible Stock: The Series B stock is convertible, meaning that holders have the option to convert their shares into a different class of stock, usually common stock, at their discretion. 2. Junior Stock: Being classified as junior stock, the Series B stock ranks below senior securities, such as bonds, in terms of priority during liquidation or bankruptcy proceedings. Shareholders of junior stock usually have lower priority in receiving payments or assets during these scenarios compared to senior stockholders. 3. Cumulative Preference Stock: The Series B stock is cumulative, meaning that if dividend payments are skipped in a given year, they accumulate and must be paid out to shareholders in the future before any dividends can be distributed to holders of common stock. 4. Preference Rights: The Series B stockholders enjoy preference rights, which may include priority dividend payments over common stockholders and the right to receive a predetermined amount of assets in the event of liquidation. 5. Voting Rights: The Nevada Certificate of Designation also specifies the voting rights attached to the Series B stock. While preferences and rights are crucial, shareholders may also have voting power on certain corporate matters, such as the election of board members or significant company decisions. 6. Liquidation Preferences: The Nevada Certificate of Designation may outline the liquidation preferences of the Series B stock. In case of liquidation or dissolution of the company, Series B stockholders may have priority in receiving their investment back before other shareholders, based on the predetermined terms stated in the designation. It is important to note that the Series B Junior Cumulative Convertible Preference Stock may have different classes within itself. These classes could be differentiated based on various features, such as the conversion price, dividend rights, or voting rights. Each class would have its own Nevada Certificate of Designation, precisely outlining the specific preferences and rights associated with that particular class. In conclusion, the Nevada Certificate of Designation for the Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company encompasses crucial provisions related to the preferences and rights of shareholders holding this class of stock. By clearly defining their privileges, this designation provides transparency and clarity in understanding the benefits and obligations associated with investing in the Series B stock.