No Further Action. In the case of an automatic conversion pursuant to this Section 7, the outstanding shares of Series B Preferred Stock shall be converted automatically without any further action by the holders of such shares and whether or not the certificates representing such shares are surrendered to the Corporation or its transfer agent.
Appears in 3 contracts
Sources: Merger Agreement (YTB International, Inc.), Merger Agreement (Rezconnect Technologies Inc), Merger Agreement (Rezconnect Technologies Inc)