Cook Illinois 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
• County: Cook
• 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 Cook Illinois 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 terms and conditions associated with this particular class of preferred stock. The Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company, also known as the Cook Illinois Certificate of Designation, offers several distinctive features and rights to its holders. These preferences and rights are designed to provide certain advantages and protections to the investors who hold this class of stock. 1. Cumulative Dividends: Holders of the Series B Junior Cumulative Convertible Preference Stock are entitled to receive dividends before any dividends are distributed to holders of common stock. These dividends accrue and are cumulative, meaning that if dividends are not paid in a particular period, they will accumulate and must be paid in the future before any dividends are distributed to other classes of stock. 2. Junior Status: The Series B Junior Cumulative Convertible Preference Stock is subordinate to any senior classes of preferred stock that may exist. In the event of liquidation, the Series B stockholders will have a lower priority in receiving any remaining assets. 3. Convertibility: The holders of the Series B stock have the option to convert their shares into common stock of Onyx Energy Company. The conversion ratio, as specified in the Cook Illinois Certificate of Designation, will determine the number of common shares received for each preferred share converted. 4. Preference over Common Stock: In the event of a liquidation or dissolution of Onyx Energy Company, the Series B stockholders will have a preference over holders of common stock in terms of receiving any remaining assets. 5. Redemption Rights: Onyx Energy Company has the right to redeem the Series B Junior Cumulative Convertible Preference Stock at a specified redemption price detailed in the Cook Illinois Certificate of Designation. This redemption right allows the company to repurchase the preferred shares at a predetermined price and retire them. It's important to note that the named "Cook Illinois Certificate of Designation, Preferences and Rights of Series B Junior Cumulative Convertible Preference Stock" is specifically associated with Onyx Energy Company. This implies that there may be different types of Cook Illinois Certificates of Designation, Preferences, and Rights associated with other companies or different series of preferred stock within Onyx Energy Company itself. However, without specific information, it's not possible to name them.

The Cook Illinois 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 terms and conditions associated with this particular class of preferred stock. The Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company, also known as the Cook Illinois Certificate of Designation, offers several distinctive features and rights to its holders. These preferences and rights are designed to provide certain advantages and protections to the investors who hold this class of stock. 1. Cumulative Dividends: Holders of the Series B Junior Cumulative Convertible Preference Stock are entitled to receive dividends before any dividends are distributed to holders of common stock. These dividends accrue and are cumulative, meaning that if dividends are not paid in a particular period, they will accumulate and must be paid in the future before any dividends are distributed to other classes of stock. 2. Junior Status: The Series B Junior Cumulative Convertible Preference Stock is subordinate to any senior classes of preferred stock that may exist. In the event of liquidation, the Series B stockholders will have a lower priority in receiving any remaining assets. 3. Convertibility: The holders of the Series B stock have the option to convert their shares into common stock of Onyx Energy Company. The conversion ratio, as specified in the Cook Illinois Certificate of Designation, will determine the number of common shares received for each preferred share converted. 4. Preference over Common Stock: In the event of a liquidation or dissolution of Onyx Energy Company, the Series B stockholders will have a preference over holders of common stock in terms of receiving any remaining assets. 5. Redemption Rights: Onyx Energy Company has the right to redeem the Series B Junior Cumulative Convertible Preference Stock at a specified redemption price detailed in the Cook Illinois Certificate of Designation. This redemption right allows the company to repurchase the preferred shares at a predetermined price and retire them. It's important to note that the named "Cook Illinois Certificate of Designation, Preferences and Rights of Series B Junior Cumulative Convertible Preference Stock" is specifically associated with Onyx Energy Company. This implies that there may be different types of Cook Illinois Certificates of Designation, Preferences, and Rights associated with other companies or different series of preferred stock within Onyx Energy Company itself. However, without specific information, it's not possible to name them.