The Pennsylvania Certificate of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company is a legal document that outlines the specific characteristics, preferences, and rights associated with the Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company, as per the Pennsylvania state regulations. This certificate is crucial for understanding the financial and voting rights of the holders of this particular stock. The Series B Junior Cumulative Convertible Preference Stock is a type of preferred stock issued by Onyx Energy Company, a Pennsylvania-based energy corporation. This stock has a junior status, which means it has a lower priority than other classes of preferred stock or common stock in terms of dividend payments and liquidation proceeds. One of the significant distinguishing features of this stock is its cumulative nature. This means that if Onyx Energy Company fails to pay the dividends on this stock, the unpaid dividends accumulate and must be paid before any dividends can be allocated to other classes of stock. Furthermore, the Series B Junior Cumulative Convertible Preference Stock is convertible, which grants holders the right to convert their preferred shares into a predetermined number of common shares of Onyx Energy Company. This conversion option provides investors with the opportunity to benefit from potential future growth and value appreciation of the company's common stock. The Pennsylvania Certificate of Designation for the Series B Junior Cumulative Convertible Preference Stock may include several types, each with its own set of specific rights, preferences, and obligations. These types may be differentiated by factors such as conversion ratios, dividend rates, voting rights, redemption provisions, and other relevant terms. Some potential variations of the Pennsylvania Certificate of Designation for the Series B Junior Cumulative Convertible Preference Stock may include: 1. Series B-1 Junior Cumulative Convertible Preference Stock: This type may have different conversion ratios or dividend rates compared to the standard Series B stock, catering to specific investor requirements or negotiations. 2. Series B-2 Junior Cumulative Convertible Preference Stock: This type may include unique terms and conditions, such as special voting rights or priority in the case of liquidation, tailored to address specific investor concerns or market conditions. 3. Series B-3 Junior Cumulative Convertible Preference Stock: This variation might have distinct redemption provisions, allowing Onyx Energy Company the option to repurchase the stock at predetermined prices or during specified timeframes, based on certain events or conditions. It is essential to review the specific provisions outlined in the Pennsylvania Certificate of Designation for the Series B Junior Cumulative Convertible Preference Stock issued by Onyx Energy Company to have a comprehensive understanding of the rights, preferences, and potential distinctions associated with this class of preferred stock.
Pennsylvania Certificate of designation, preferences and rights of Series B junior cumulative convertible preference stock of Oryx Energy Company
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Designated Stock means the Class A Common Stock, the Class C Common Stock and any other stock of the Corporation that is designated as ?Designated Stock? from time to time pursuant to this Certificate of Incorporation or any Certificate of Designation.
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.
Professional certification, trade certification, or professional designation, often called simply certification or qualification, is a designation earned by a person to assure qualification to perform a job or task.
(b) ?Certificate of Designation? means this Certificate of Designation of the Series A Preferred Stock, as it may be amended from time to time. (such class or series of capital stock of the Corporation into which such stock is reclassified or reconstituted, ?Reclassified or Reconstituted Common Stock?).
Main definition A certificate of designation is signed by a corporate officer attesting to the board of directors' designation of the terms, rights, preferences, and limitations of a new series of preferred stock. Certificates of designation are usually associated with blank check preferred stock.