Common use of Outstanding Series A Preferred Stock Clause in Contracts

Outstanding Series A Preferred Stock. Prior to Closing, Parent and the Company agree to reasonably cooperate with respect to the purchase by the Company in accordance with Section 5.21 of this Agreement (“Preferred Stock Purchase”) from the United States Department of the Treasury (the “Treasury Department”) all of the Series A Preferred Stock held by the Treasury Department, and following the Preferred Stock Purchase (which, for the avoidance of doubt, shall occur at or immediately prior to the Closing), all of the Series A Preferred Stock shall be cancelled, and no payment or distribution shall be made in consideration therefor.