Protective Provisions Clause Example with 4 Variations from Business Contracts

This page contains Protective Provisions clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Protective Provisions. So long as any shares of Series B Preferred Stock are outstanding, the Corporation shall not, nor shall it permit any of its subsidiaries to, take any of the following corporate actions without first obtaining the affirmative vote, at a meeting duly called for such purpose (or written consent without a meeting in accordance with the DGCL), of the holders of a majority of the outstanding shares of Series B Preferred Stock, voting separately as a single class: 14.1. Adversely alter or change the r...ights, preferences or privileges of the Series B Preferred Stock, or increase the authorized number of shares of Series B Preferred Stock; 14.2. issue any shares of Series B Preferred Stock, other than the Original Series B Preferred Stock and the Series B Preferred Dividend Stock; or 14.3. except in connection with a Private Placement Financings, issue any shares of Preferred Stock that rank senior to the Series B Preferred Stock. Notwithstanding the foregoing, no change pursuant to this Section 12 shall be effective to the extent that, by its terms, it applies to less than all of the holders of shares of Series B Preferred Stock then outstanding. View More
Found in Boxlight Corp contract

Variations of a "Protective Provisions" Clause from Business Contracts

Protective Provisions. So long as any shares of Series B C Preferred Stock are outstanding, the Corporation shall not, nor shall it permit any of its subsidiaries Subsidiaries to, take any of the following corporate actions (whether by merger, consolidation or otherwise) without first obtaining the affirmative vote, at a meeting duly called for such purpose (or approval (by vote or written consent without a meeting in accordance with the DGCL), consent) of the holders Holders of a majority of the issued and outstandin...g shares of Series B C Preferred Stock, voting separately as a single class: 14.1. Adversely Stock (the "Series C Majority Holders"): (a) alter or change the rights, preferences or privileges of the Series B C Preferred Stock, or increase the authorized number of shares of Series B C Preferred Stock; 14.2. or (b) issue any additional shares of Series B Preferred Stock, other than the Original Series B Preferred Stock and the Series B Preferred Dividend Stock; or 14.3. except in connection with a Private Placement Financings, issue any shares of Preferred Stock that rank senior to the Series B C Preferred Stock. Notwithstanding the foregoing, no change pursuant to this Section 12 15 shall be effective to the extent that, by its terms, it applies to less than all of the holders Holders of shares of Series B C Preferred Stock then outstanding. View More
Found in Boxlight Corp contract
Protective Provisions. So long as any shares of Series B A Preferred Stock are outstanding, the Corporation shall not, nor shall it permit any of its subsidiaries to, take any of the following corporate actions without first obtaining the affirmative vote, at a meeting duly called for such purpose (or written consent without a meeting in accordance with the DGCL), of the holders of a majority of the outstanding shares of Series B A Preferred Stock, voting separately as a single class: 14.1. 11.1. Adversely alter or ch...ange the rights, preferences or privileges of the Series B A Preferred Stock, or increase the authorized number of shares of Series B A Preferred Stock; 14.2. 11.2. issue any shares of Series B A Preferred Stock, other than the Original Series B A Preferred Stock and the Series B A Preferred Dividend Stock; or 14.3. 11.3. except in connection with a Private Placement Financings, issue any shares of Preferred Stock that rank senior to the Series B A Preferred Stock. Notwithstanding the foregoing, no change pursuant to this Section 12 shall be effective to the extent that, by its terms, it applies to less than all of the holders of shares of Series B A Preferred Stock then outstanding. View More
Found in Boxlight Corp contract
Protective Provisions. So long as any shares of Series B Preferred Stock are outstanding, the Corporation shall not, nor shall it permit any of its subsidiaries Subsidiaries to, take any of the following corporate actions (whether by merger, consolidation or otherwise) without first obtaining the affirmative vote, at a meeting duly called for such purpose (or approval (by vote or written consent without a meeting in accordance with the DGCL), consent) of the holders Holders of a majority of the issued and outstanding ...shares of Series B Preferred Stock, voting separately as a single class: 14.1. Adversely Stock (the "Series B Majority Holders"): (a) alter or change the rights, preferences or privileges of the Series B Preferred Stock, or increase the authorized number of shares of Series B Preferred Stock; 14.2. or (b) issue any additional shares of Series B Preferred Stock, other than the Original Series B Preferred Stock and the Series B Preferred Dividend Stock; or 14.3. except in connection with a Private Placement Financings, issue any shares of Preferred Stock that rank senior to the Series B Preferred Stock. Notwithstanding the foregoing, no change pursuant to this Section 12 14 shall be effective to the extent that, by its terms, it applies to less than all of the holders Holders of shares of Series B Preferred Stock then outstanding. 5 15. Cancellation of Series B Preferred Stock If any shares of Series B Preferred Stock are converted pursuant to this Certificate of Designations, the shares so converted or redeemed shall be canceled, shall return to the status of authorized, but unissued Series B Preferred Stock of no designated series, and shall not be issuable by the Corporation as Series B Preferred Stock. View More
Found in Solaris Power Cells, Inc. contract
Protective Provisions. So long as any shares of Series B Preferred Stock are outstanding, the Corporation shall not, nor shall it permit any of its subsidiaries Subsidiaries to, take any of the following corporate actions (whether by merger, consolidation or otherwise) without first obtaining the affirmative vote, at a meeting duly called for such purpose (or approval (by vote or written consent without a meeting in accordance with the DGCL), consent) of the holders Holders of a majority of the issued and outstanding ...shares of Series B Preferred Stock, voting separately as a single class: 14.1. Adversely Stock (the "Series B Majority Holders"): (a) alter or change the rights, preferences or privileges of the Series B Preferred Stock, or increase the authorized number of shares of Series B Preferred Stock; 14.2. or (b) issue any additional shares of Series B Preferred Stock, other than the Original Series B Preferred Stock and the Series B Preferred Dividend Stock; or 14.3. except in connection with a Private Placement Financings, issue any shares of Preferred Stock that rank senior to the Series B Preferred Stock. Notwithstanding the foregoing, no change pursuant to this Section 12 15 shall be effective to the extent that, by its terms, it applies to less than all of the holders Holders of shares of Series B Preferred Stock then outstanding. View More
Found in Boxlight Corp contract