Collin Texas 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
• County: Collin
• 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 Collin Texas Certificate of Designation, Preferences, and Rights of Series A Junior Cumulative Preference Stock of Onyx Energy Company is a legally binding document that outlines the specific terms, conditions, and rights associated with the Series A junior cumulative preference stock offered by Onyx Energy Company, a corporation headquartered in Collin County, Texas. The Series A junior cumulative preference stock represents a class of preferred stock issued by Onyx Energy Company. It is predominantly designed to cater to investors seeking a reliable and consistent dividend payment, along with certain priority rights over common stockholders in the event of liquidation or dissolution of the company. Key features and preferences of the Collin Texas Certificate of Designation, Preferences, and Rights of Series A Junior Cumulative Preference Stock include: 1. Dividends: Holders of Series A junior cumulative preference stock are entitled to receive dividends at a fixed rate, typically set as a percentage of the stock's par value. These dividends are paid out before any dividends are distributed to common stockholders. 2. Cumulative Nature: If the company fails to pay dividends in any given year, the unpaid dividends "accumulate" and must be paid out to Series A junior cumulative preference stockholders in subsequent years, before any dividends are distributed to common stockholders. 3. Priority Rights: In the event of the company's liquidation or dissolution, Series A junior cumulative preference stockholders have priority over common stockholders when it comes to the distribution of assets. They will be entitled to receive their investment back before common stockholders receive any proceeds. 4. Conversion Rights: The Collin Texas Certificate of Designation may also outline any conversion rights associated with Series A junior cumulative preference stock, allowing stockholders to convert their preferred shares into a predetermined number of common shares, subject to certain conditions and at a specified conversion price. It's important to note that there might be multiple types of Certificate of Designation, Preferences, and Rights of Series A Junior Cumulative Preference Stock issued by Onyx Energy Company, each representing different classes or series of preferred stock. The specific names of these different types may vary and would be outlined in the relevant Certificate of Designation.

The Collin Texas Certificate of Designation, Preferences, and Rights of Series A Junior Cumulative Preference Stock of Onyx Energy Company is a legally binding document that outlines the specific terms, conditions, and rights associated with the Series A junior cumulative preference stock offered by Onyx Energy Company, a corporation headquartered in Collin County, Texas. The Series A junior cumulative preference stock represents a class of preferred stock issued by Onyx Energy Company. It is predominantly designed to cater to investors seeking a reliable and consistent dividend payment, along with certain priority rights over common stockholders in the event of liquidation or dissolution of the company. Key features and preferences of the Collin Texas Certificate of Designation, Preferences, and Rights of Series A Junior Cumulative Preference Stock include: 1. Dividends: Holders of Series A junior cumulative preference stock are entitled to receive dividends at a fixed rate, typically set as a percentage of the stock's par value. These dividends are paid out before any dividends are distributed to common stockholders. 2. Cumulative Nature: If the company fails to pay dividends in any given year, the unpaid dividends "accumulate" and must be paid out to Series A junior cumulative preference stockholders in subsequent years, before any dividends are distributed to common stockholders. 3. Priority Rights: In the event of the company's liquidation or dissolution, Series A junior cumulative preference stockholders have priority over common stockholders when it comes to the distribution of assets. They will be entitled to receive their investment back before common stockholders receive any proceeds. 4. Conversion Rights: The Collin Texas Certificate of Designation may also outline any conversion rights associated with Series A junior cumulative preference stock, allowing stockholders to convert their preferred shares into a predetermined number of common shares, subject to certain conditions and at a specified conversion price. It's important to note that there might be multiple types of Certificate of Designation, Preferences, and Rights of Series A Junior Cumulative Preference Stock issued by Onyx Energy Company, each representing different classes or series of preferred stock. The specific names of these different types may vary and would be outlined in the relevant Certificate of Designation.