The New York Certificate of Designation, Preferences, and Rights of Series A Junior Cumulative Preference Stock of Onyx Energy Company is a legal document outlining the specific terms and conditions of a specific class of preferred stock issued by Onyx Energy Company. This type of preferred stock is typically referred to as "Series A Junior Cumulative Preference Stock." The Series A Junior Cumulative Preference Stock is a type of preferred stock that gives its holders certain privileges and rights over common stockholders. It is considered junior in terms of priority compared to other classes of preferred stock within the company's capital structure. The "cumulative" aspect implies that if dividends are not paid in a certain period, they will accumulate and become payable in the future. The New York Certificate of Designation for the Series A Junior Cumulative Preference Stock specifies various preferences and rights of the stockholders. These preferences and rights may include: 1. Dividend Priority: Holders of Series A Junior Cumulative Preference Stock has a priority over common stockholders in receiving dividends. They are entitled to receive a fixed dividend amount before any dividends are paid to holders of common stock. 2. Cumulative Dividends: If the company fails to pay dividends for a specific period, the unpaid dividends accumulate and become payable in the future. This ensures that holders of Series A Junior Cumulative Preference Stock will eventually receive their unpaid dividends. 3. Liquidation Preference: In the event of liquidation or winding up of the company, holders of Series A Junior Cumulative Preference Stock has a higher priority in receiving their investment back compared to common stockholders. They are entitled to receive a specific liquidation preference amount before any distributions are made to holders of common stock. 4. Voting Rights: While preferred stockholders generally do not have voting rights, the New York Certificate of Designation may grant specific voting rights to holders of Series A Junior Cumulative Preference Stock on certain matters affecting their rights and interests. It is worth noting that there might be different types of preferred stock issued by Onyx Energy Company, each having its own Certificate of Designation with unique preferences, rights, and characteristics. As for the Series A Junior Cumulative Preference Stock, it represents a specific class within the range of preferred stock offerings by the company.
New York Certificate of designation, preferences and rights of Series A junior cumulative preference stock of Oryx Energy Company
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Preferred Designation means the Certificate of Designation with respect to the Series D Preferred Stock, the Series E Preferred Stock, the Series F Preferred Stock, the Series G Preferred Stock, the Series H Preferred Stock and the Series I Preferred Stock adopted by the Board of Directors of the Company and duly filed ...
An account designation is the name given to an investment account where shares cannot be directly held by the beneficial owner (e.g. a minor) and instead, are registered in the name of a trustee (e.g. a parent).
Stock Designation with respect to a share of Company Common Stock means a designation by the holder of such share, provided by the Company to Parent no later than the Designation Deadline, to the effect that such share is designated to receive the Stock Designation Consideration.
Issuing preferred stock provides a company with a means of obtaining capital without increasing the company's overall level of outstanding debt. This helps keep the company's debt to equity (D/E) ratio, an important leverage measure for investors and analysts, at a lower, more attractive level.
A certificate which contains a copy of the board resolution setting out the powers, designations, preferences or rights of a class or series of a class of stock of a corporation (typically a series of preferred stock) if they are not already contained in the certificate of incorporation of the corporation.
A preferred stock certificate is a document that identifies the ownership share of an investor in a corporation.