Tennessee 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 Tennessee Certificate of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company is an important legal document that outlines the unique characteristics, benefits, and terms associated with this particular class of stock issued by Onyx Energy Company in Tennessee. The Series B Junior Cumulative Convertible Preference Stock is a specific type of equity security that offers shareholders certain advantages and privileges. This designation allows investors to enjoy several key features, including: 1. Cumulative Dividends: Holders of Series B Junior Cumulative Convertible Preference Stock are entitled to receive dividends on a cumulative basis. This means that if dividends are not paid in a certain period or are in arrears, they will accumulate and must be paid before any dividends are distributed to holders of other classes of shares. 2. Junior Ranking: The Series B Junior Cumulative Convertible Preference Stock is classified as a junior security, meaning that it ranks lower in priority compared to other classes of preferred or common stock in terms of claiming assets and receiving payments in the event of liquidation or bankruptcy. 3. Convertibility: Shareholders of the Series B Junior Cumulative Convertible Preference Stock has the option to convert their shares into a specified number of common shares of Onyx Energy Company. This conversion can occur at the discretion of the shareholder at any time, subject to certain predetermined terms and conditions outlined in the certificate of designation. 4. Preference in Liquidation: In the event of a liquidation or winding-up of Onyx Energy Company, holders of the Series B Junior Cumulative Convertible Preference Stock have preferential rights over common shareholders. They are entitled to receive a specific liquidation preference amount per share before any distribution is made to holders of common stock. It is important to note that this description specifically pertains to the Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company in Tennessee. If there are other types of certificates of designation, preferences, and rights pertaining to different series or classes of stock offered by Onyx Energy Company in Tennessee, they would have their own distinct names and features.

The Tennessee Certificate of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company is an important legal document that outlines the unique characteristics, benefits, and terms associated with this particular class of stock issued by Onyx Energy Company in Tennessee. The Series B Junior Cumulative Convertible Preference Stock is a specific type of equity security that offers shareholders certain advantages and privileges. This designation allows investors to enjoy several key features, including: 1. Cumulative Dividends: Holders of Series B Junior Cumulative Convertible Preference Stock are entitled to receive dividends on a cumulative basis. This means that if dividends are not paid in a certain period or are in arrears, they will accumulate and must be paid before any dividends are distributed to holders of other classes of shares. 2. Junior Ranking: The Series B Junior Cumulative Convertible Preference Stock is classified as a junior security, meaning that it ranks lower in priority compared to other classes of preferred or common stock in terms of claiming assets and receiving payments in the event of liquidation or bankruptcy. 3. Convertibility: Shareholders of the Series B Junior Cumulative Convertible Preference Stock has the option to convert their shares into a specified number of common shares of Onyx Energy Company. This conversion can occur at the discretion of the shareholder at any time, subject to certain predetermined terms and conditions outlined in the certificate of designation. 4. Preference in Liquidation: In the event of a liquidation or winding-up of Onyx Energy Company, holders of the Series B Junior Cumulative Convertible Preference Stock have preferential rights over common shareholders. They are entitled to receive a specific liquidation preference amount per share before any distribution is made to holders of common stock. It is important to note that this description specifically pertains to the Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company in Tennessee. If there are other types of certificates of designation, preferences, and rights pertaining to different series or classes of stock offered by Onyx Energy Company in Tennessee, they would have their own distinct names and features.