Common use of Other Classes of Stock Clause in Contracts

Other Classes of Stock. If at any time the Company shall propose to issue or sell any shares of Class B common stock, Class C common stock, Class D common stock or serial preferred stock authorized by its certificate of incorporation or any other class of common stock hereafter authorized by the Company, then the Company shall notify Deltec thereof as promptly as practicable and shall offer to sell to Deltec, concurrently with the issuance of such shares such number of such shares as will enable Deltec to maintain ownership of 25% of such other class of stock.

Appears in 2 contracts

Sources: Stock Purchase Agreement (Argo Capital Trust Co), Stockholder Agreement (Deltec International Sa)