Houston Texas 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
• City: Houston
• 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 Houston Texas 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 issued by Onyx Energy Company in Houston, Texas. The Series B stock is a unique class of securities offered by Onyx Energy Company, granting certain exclusive privileges to its holders. These certificates of designation are designed to provide clear guidelines and specifications regarding the terms and conditions of this particular type of stock. Key features and rights associated with the Houston Texas Certificate of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock may include: 1. Cumulative Dividends: Holders of Series B stock are entitled to receive dividends on a cumulative basis, meaning that if any dividends have been skipped or unpaid in prior periods, they will accrue and be paid later before any dividends are distributed to holders of common stock. 2. Junior Status: The Series B stock is considered junior to any existing and future debt obligations and other preferred stock of Onyx Energy Company, which means that in the event of liquidation or bankruptcy, holders of Series B stock would rank behind those with senior claims. 3. Conversion Privilege: The Series B stock may be converted into a predetermined number of common shares of Onyx Energy Company, providing the holders with an opportunity to participate in any potential appreciation of the common stock. 4. Convertible Preference: The Series B stock has the option to be converted into common shares, offering the benefit of a higher preference to participate in the company's growth compared to holders of common stock. It is important to note that the Houston Texas Certificate of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company may have different variations or modifications depending on the specific terms agreed upon by the company and its investors. These variations may include additional rights, limitations, or different conversion terms, which would be clearly specified in separate certificates of designation if applicable.

The Houston Texas 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 issued by Onyx Energy Company in Houston, Texas. The Series B stock is a unique class of securities offered by Onyx Energy Company, granting certain exclusive privileges to its holders. These certificates of designation are designed to provide clear guidelines and specifications regarding the terms and conditions of this particular type of stock. Key features and rights associated with the Houston Texas Certificate of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock may include: 1. Cumulative Dividends: Holders of Series B stock are entitled to receive dividends on a cumulative basis, meaning that if any dividends have been skipped or unpaid in prior periods, they will accrue and be paid later before any dividends are distributed to holders of common stock. 2. Junior Status: The Series B stock is considered junior to any existing and future debt obligations and other preferred stock of Onyx Energy Company, which means that in the event of liquidation or bankruptcy, holders of Series B stock would rank behind those with senior claims. 3. Conversion Privilege: The Series B stock may be converted into a predetermined number of common shares of Onyx Energy Company, providing the holders with an opportunity to participate in any potential appreciation of the common stock. 4. Convertible Preference: The Series B stock has the option to be converted into common shares, offering the benefit of a higher preference to participate in the company's growth compared to holders of common stock. It is important to note that the Houston Texas Certificate of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company may have different variations or modifications depending on the specific terms agreed upon by the company and its investors. These variations may include additional rights, limitations, or different conversion terms, which would be clearly specified in separate certificates of designation if applicable.