Salt Lake Utah 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: Salt Lake
• 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 Salt Lake Utah 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, preferences, and rights associated with the Series B Junior Cumulative Convertible Preference Stock issued by Onyx Energy Company in Salt Lake City, Utah. This certificate ensures clarity and transparency in the rights and entitlements of the stockholders. The Series B Junior Cumulative Convertible Preference Stock is a specific class of preferred shares offered by Onyx Energy Company. It comes with certain unique features and benefits that differentiate it from other types of stock. The certificate of designation is a vital resource for both the company and its shareholders, as it outlines the provisions and protections relevant to this particular stock class. Some key features and preferences of the Series B Junior Cumulative Convertible Preference Stock may include: 1. Convertibility: The stockholders of the Series B Junior Cumulative Convertible Preference Stock has the option to convert their shares into a predetermined number of common shares of Onyx Energy Company. This conversion is typically based on a predetermined conversion ratio. 2. Cumulative Dividends: The Series B stockholders are entitled to receive cumulative dividends on a regular basis. These dividends accrue over time if not paid, meaning that they must be paid in full before any dividends can be distributed to common stockholders. 3. Junior Ranking: The Series B stock is considered junior in terms of ranking compared to other classes of preferred stock. In the event of liquidation or dissolution of the company, Series B stockholders will have a lower priority in receiving payments compared to senior classes of preferred stock. 4. Preference in Liquidation: Despite being junior in ranking, Series B stockholders may still have certain preferences in the event of liquidation or dissolution. The certificate of designation will outline the specific details regarding the priority and amount of payments to be made to the Series B stockholders in such scenarios. 5. Protective Provisions: The certificate of designation may also specify certain protective provisions for the Series B stockholders. These provisions could include voting rights and veto powers on certain corporate actions, such as mergers, acquisitions, or amendments to the company's articles of incorporation. It is important to note that the specific terms, preferences, and rights of the Series B Junior Cumulative Convertible Preference Stock may vary based on the individual certificate of designation issued by Onyx Energy Company. Different series of preferred stock, such as Series C, D, and so on, may also have their own unique certificates of designation that outline their specific features and rights. By referring to the Salt Lake Utah Certificate of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company, potential and existing shareholders can gain a comprehensive understanding of the entitlements and benefits associated with holding this particular class of stock.

The Salt Lake Utah 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, preferences, and rights associated with the Series B Junior Cumulative Convertible Preference Stock issued by Onyx Energy Company in Salt Lake City, Utah. This certificate ensures clarity and transparency in the rights and entitlements of the stockholders. The Series B Junior Cumulative Convertible Preference Stock is a specific class of preferred shares offered by Onyx Energy Company. It comes with certain unique features and benefits that differentiate it from other types of stock. The certificate of designation is a vital resource for both the company and its shareholders, as it outlines the provisions and protections relevant to this particular stock class. Some key features and preferences of the Series B Junior Cumulative Convertible Preference Stock may include: 1. Convertibility: The stockholders of the Series B Junior Cumulative Convertible Preference Stock has the option to convert their shares into a predetermined number of common shares of Onyx Energy Company. This conversion is typically based on a predetermined conversion ratio. 2. Cumulative Dividends: The Series B stockholders are entitled to receive cumulative dividends on a regular basis. These dividends accrue over time if not paid, meaning that they must be paid in full before any dividends can be distributed to common stockholders. 3. Junior Ranking: The Series B stock is considered junior in terms of ranking compared to other classes of preferred stock. In the event of liquidation or dissolution of the company, Series B stockholders will have a lower priority in receiving payments compared to senior classes of preferred stock. 4. Preference in Liquidation: Despite being junior in ranking, Series B stockholders may still have certain preferences in the event of liquidation or dissolution. The certificate of designation will outline the specific details regarding the priority and amount of payments to be made to the Series B stockholders in such scenarios. 5. Protective Provisions: The certificate of designation may also specify certain protective provisions for the Series B stockholders. These provisions could include voting rights and veto powers on certain corporate actions, such as mergers, acquisitions, or amendments to the company's articles of incorporation. It is important to note that the specific terms, preferences, and rights of the Series B Junior Cumulative Convertible Preference Stock may vary based on the individual certificate of designation issued by Onyx Energy Company. Different series of preferred stock, such as Series C, D, and so on, may also have their own unique certificates of designation that outline their specific features and rights. By referring to the Salt Lake Utah Certificate of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company, potential and existing shareholders can gain a comprehensive understanding of the entitlements and benefits associated with holding this particular class of stock.