San Antonio 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: San Antonio
• 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 San Antonio 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 company's Series B junior cumulative convertible preference stock. This certificate plays a crucial role in providing investors with a comprehensive understanding of the terms and conditions related to this particular type of stock offering. The Series B junior cumulative convertible preference stock of Onyx Energy Company is a unique class of stock that holds certain advantages and entitlements compared to other types of stock issued by the company. It is important to note that there might be other series or classes of preference stock offered by Onyx Energy Company, each with its own designation, preferences, and rights. However, for the purpose of this description, we will focus specifically on the Series B junior cumulative convertible preference stock. The "junior" designation indicates that this class of preference stock holds a subordinate position to other classes of stock issued by Onyx Energy Company. In the event of liquidation or bankruptcy, holders of the Series B junior cumulative convertible preference stock would receive their claims after senior class stockholders have been satisfied. This implies that the Series B stockholders possess a lower priority when it comes to the distribution of assets. The "cumulative" aspect of the stock refers to the dividend payments. If Onyx Energy Company fails to distribute dividends in any given year, the unpaid dividends accumulate and carry over to subsequent years. Once the company resumes dividend payments, the accumulated unpaid dividends must be settled before dividends can be disbursed to holders of common stock or other series of preference stock. This cumulative feature ensures that stockholders of the Series B junior cumulative convertible preference stock are entitled to receive their missed dividends before any other distributions are made. The "convertible" nature of the stock provides the holders with an option to convert their Series B preference shares into a predetermined number of common shares of Onyx Energy Company at a specified conversion ratio. This conversion privilege allows for potential capital appreciation if the market price of the common stock exceeds the conversion price. Given these specific features, the San Antonio Texas Certificate of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company serves as a crucial legal document that clearly defines the rights, privileges, and limitations associated with this class of stock. It ensures transparency and provides investors with a comprehensive understanding of the characteristics and expectations of holding the Series B junior cumulative convertible preference stock. It is worth noting that Onyx Energy Company might have additional series or classes of preference stock, each with its own unique certificate of designation, preferences, and rights. Therefore, it is essential to consult the relevant certificates to understand the nuances and distinctions between the various offerings.

The San Antonio 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 company's Series B junior cumulative convertible preference stock. This certificate plays a crucial role in providing investors with a comprehensive understanding of the terms and conditions related to this particular type of stock offering. The Series B junior cumulative convertible preference stock of Onyx Energy Company is a unique class of stock that holds certain advantages and entitlements compared to other types of stock issued by the company. It is important to note that there might be other series or classes of preference stock offered by Onyx Energy Company, each with its own designation, preferences, and rights. However, for the purpose of this description, we will focus specifically on the Series B junior cumulative convertible preference stock. The "junior" designation indicates that this class of preference stock holds a subordinate position to other classes of stock issued by Onyx Energy Company. In the event of liquidation or bankruptcy, holders of the Series B junior cumulative convertible preference stock would receive their claims after senior class stockholders have been satisfied. This implies that the Series B stockholders possess a lower priority when it comes to the distribution of assets. The "cumulative" aspect of the stock refers to the dividend payments. If Onyx Energy Company fails to distribute dividends in any given year, the unpaid dividends accumulate and carry over to subsequent years. Once the company resumes dividend payments, the accumulated unpaid dividends must be settled before dividends can be disbursed to holders of common stock or other series of preference stock. This cumulative feature ensures that stockholders of the Series B junior cumulative convertible preference stock are entitled to receive their missed dividends before any other distributions are made. The "convertible" nature of the stock provides the holders with an option to convert their Series B preference shares into a predetermined number of common shares of Onyx Energy Company at a specified conversion ratio. This conversion privilege allows for potential capital appreciation if the market price of the common stock exceeds the conversion price. Given these specific features, the San Antonio Texas Certificate of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock of Onyx Energy Company serves as a crucial legal document that clearly defines the rights, privileges, and limitations associated with this class of stock. It ensures transparency and provides investors with a comprehensive understanding of the characteristics and expectations of holding the Series B junior cumulative convertible preference stock. It is worth noting that Onyx Energy Company might have additional series or classes of preference stock, each with its own unique certificate of designation, preferences, and rights. Therefore, it is essential to consult the relevant certificates to understand the nuances and distinctions between the various offerings.