Common use of Liquidating Event Clause in Contracts

Liquidating Event. Any of the following shall be considered a "LIQUIDATING EVENT" and shall entitle the holders of the Preferred Stock and the Common Stock to receive promptly, in cash, securities or other property, those amounts specified in Section 3(a) of this Certificate and valued as provided in Section 3(b) of this Certificate: (i) any liquidation, dissolution or winding up of the Corporation; or (ii) any sale, lease, exchange or other disposition of all or substantially all the Corporation's assets.

Appears in 2 contracts

Sources: Agreement and Plan of Reorganization (Pro Squared Inc), Agreement and Plan of Reorganization (Global Boulevard International Inc)

Liquidating Event. Any of the following shall be considered a "LIQUIDATING EVENT" and shall entitle the holders of the Preferred Class C Stock and the Common Stock to receive promptlypromptly after the Corporation's realization thereof, in cash, securities or other property, those amounts specified in Section 3(a) of this Certificate and valued as provided in Section 3(b) of this Certificate: (i) any liquidation, dissolution or winding up of the Corporation; or (ii) any sale, lease, exchange or other disposition of all or substantially all the Corporation's assets.

Appears in 1 contract

Sources: Secured Loan Agreement (Diomed Holdings Inc)