Wayne Michigan 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: Wayne
• 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 Wayne Michigan 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 and features associated with this particular class of stock issued by the company. It serves as a guide for shareholders and potential investors, providing a comprehensive understanding of the rights and privileges granted to holders of this stock. The Series B Junior Cumulative Convertible Preference Stock offers several preferences and rights to its holders. These preferences and rights include: 1. Preference in Dividends: Holders of Series B stock are entitled to receive dividends before holders of common stock. In case the company declares dividends, Series B stockholders will be paid their dividends in priority over other classes of stock. 2. Cumulative Dividends: If the company is unable to pay dividends for a particular period, the unpaid dividends accumulate and become cumulative. These accumulated dividends must be paid to Series B stockholders before any dividends are distributed to other classes of stock. 3. Conversion Option: Series B stockholders have the right to convert their shares into a predetermined number of common shares at their discretion. This conversion allows stockholders to participate in any potential increase in the value of the company's common stock. 4. Junior Ranking: The Series B stock ranks junior to any senior securities issued by the company. In the event of liquidation or bankruptcy, Series B stockholders will have a lower priority in receiving payments. 5. Convertible at the Option of the Company: Onyx Energy Company has the right to convert the Series B stock into common shares at its discretion, at a predetermined conversion ratio. This allows the company to adjust its capital structure based on its financial needs or strategic objectives. It's important to note that there may be multiple types of Wayne Michigan Certification of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock, depending on the specific terms and conditions outlined in each designation. These different types may have variations in terms of dividend rates, conversion ratios, or other specific rights granted to holders. Therefore, it is crucial to refer to the specific Certificate of Designation for the exact details of each series or designation of Series B Junior Cumulative Convertible Preference Stock for Onyx Energy Company.

The Wayne Michigan 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 and features associated with this particular class of stock issued by the company. It serves as a guide for shareholders and potential investors, providing a comprehensive understanding of the rights and privileges granted to holders of this stock. The Series B Junior Cumulative Convertible Preference Stock offers several preferences and rights to its holders. These preferences and rights include: 1. Preference in Dividends: Holders of Series B stock are entitled to receive dividends before holders of common stock. In case the company declares dividends, Series B stockholders will be paid their dividends in priority over other classes of stock. 2. Cumulative Dividends: If the company is unable to pay dividends for a particular period, the unpaid dividends accumulate and become cumulative. These accumulated dividends must be paid to Series B stockholders before any dividends are distributed to other classes of stock. 3. Conversion Option: Series B stockholders have the right to convert their shares into a predetermined number of common shares at their discretion. This conversion allows stockholders to participate in any potential increase in the value of the company's common stock. 4. Junior Ranking: The Series B stock ranks junior to any senior securities issued by the company. In the event of liquidation or bankruptcy, Series B stockholders will have a lower priority in receiving payments. 5. Convertible at the Option of the Company: Onyx Energy Company has the right to convert the Series B stock into common shares at its discretion, at a predetermined conversion ratio. This allows the company to adjust its capital structure based on its financial needs or strategic objectives. It's important to note that there may be multiple types of Wayne Michigan Certification of Designation, Preferences, and Rights of Series B Junior Cumulative Convertible Preference Stock, depending on the specific terms and conditions outlined in each designation. These different types may have variations in terms of dividend rates, conversion ratios, or other specific rights granted to holders. Therefore, it is crucial to refer to the specific Certificate of Designation for the exact details of each series or designation of Series B Junior Cumulative Convertible Preference Stock for Onyx Energy Company.