Utah Certificate of designation, preferences and rights of Series A junior cumulative preference stock of Oryx Energy Company

• Category: Corporations - Public - Changes Affecting Capital Stock
• State: Multi-State
• Control #: US-CC-3-132
• Format: Word; Rich Text

Description

This sample form, a detailed Certificate of Designation, Preferences and Rights of Series a Junior Cumulative 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 Utah Certificate of Designation is a legal document that outlines the specific preferences and rights associated with the Series A Junior Cumulative Preference Stock of Onyx Energy Company, a prominent energy company based in Utah. This certificate provides crucial information regarding the various provisions, privileges, and entitlements that shareholders of this particular stock have. 1. Series A Junior Cumulative Preference Stock: This specific class of stock is referred to as Series A and holds junior status, indicating its subordinate position compared to other classes of stock in terms of dividend payments and liquidation preferences. The term "cumulative" signifies that any unpaid dividends accumulate and must be paid before dividends are distributed to holders of common stock. 2. Dividend Preference: The Certificate of Designation grants the holders of Series A Junior Cumulative Preference Stock the right to receive dividends before any distribution is made to holders of common stock or any other junior class of stock. This ensures a higher priority in dividend payouts, ensuring stable income for shareholders. 3. Cumulative Dividends: The Series A Junior Cumulative Preference Stock enables shareholders to receive cumulative dividends, meaning that if Onyx Energy Company fails to pay dividends in any given year, the unpaid dividends will accumulate and must be paid in subsequent years before any dividends are distributed to other classes of stock. 4. Liquidation Preference: In the event of liquidation or dissolution of Onyx Energy Company, holders of Series A Junior Cumulative Preference Stock are entitled to a predetermined liquidation preference. This ensures that they are among the first to receive payments from the company's remaining assets after settling obligations to creditors and preferred stockholders. 5. Voting Rights: The Certificate of Designation may also specify the voting rights associated with the Series A Junior Cumulative Preference Stock. Owners of this stock may possess limited or no voting rights, granting them a passive role in decision-making processes within the company. It is important to note that the specific terms and provisions outlined in the Utah Certificate of Designation for the preferences and rights of Series A Junior Cumulative Preference Stock of Onyx Energy Company may vary, depending on the unique requirements and decisions made by the company's board of directors.

The Utah Certificate of Designation is a legal document that outlines the specific preferences and rights associated with the Series A Junior Cumulative Preference Stock of Onyx Energy Company, a prominent energy company based in Utah. This certificate provides crucial information regarding the various provisions, privileges, and entitlements that shareholders of this particular stock have. 1. Series A Junior Cumulative Preference Stock: This specific class of stock is referred to as Series A and holds junior status, indicating its subordinate position compared to other classes of stock in terms of dividend payments and liquidation preferences. The term "cumulative" signifies that any unpaid dividends accumulate and must be paid before dividends are distributed to holders of common stock. 2. Dividend Preference: The Certificate of Designation grants the holders of Series A Junior Cumulative Preference Stock the right to receive dividends before any distribution is made to holders of common stock or any other junior class of stock. This ensures a higher priority in dividend payouts, ensuring stable income for shareholders. 3. Cumulative Dividends: The Series A Junior Cumulative Preference Stock enables shareholders to receive cumulative dividends, meaning that if Onyx Energy Company fails to pay dividends in any given year, the unpaid dividends will accumulate and must be paid in subsequent years before any dividends are distributed to other classes of stock. 4. Liquidation Preference: In the event of liquidation or dissolution of Onyx Energy Company, holders of Series A Junior Cumulative Preference Stock are entitled to a predetermined liquidation preference. This ensures that they are among the first to receive payments from the company's remaining assets after settling obligations to creditors and preferred stockholders. 5. Voting Rights: The Certificate of Designation may also specify the voting rights associated with the Series A Junior Cumulative Preference Stock. Owners of this stock may possess limited or no voting rights, granting them a passive role in decision-making processes within the company. It is important to note that the specific terms and provisions outlined in the Utah Certificate of Designation for the preferences and rights of Series A Junior Cumulative Preference Stock of Onyx Energy Company may vary, depending on the unique requirements and decisions made by the company's board of directors.