Common use of Status of Converted Stock Clause in Contracts

Status of Converted Stock. In the event any shares of Series A Preferred Stock shall be converted or otherwise acquired by the Company, the shares so converted shall be canceled and shall resume the status of authorized shares of preferred stock without differentiation as to series. All such shares may be reissued as part of a new series of preferred stock subject to the conditions and restrictions on issuance set forth in the Articles of Incorporation or in any certificate of designation creating a series of preferred stock or any similar stock or as otherwise required by law.

Status of Converted Stock. In the event any shares of Series A B Preferred Stock shall be converted or otherwise acquired by the Company, the shares so converted shall be canceled and shall resume the status of authorized shares of preferred stock without differentiation as to series. All such shares may be reissued as part of a new series of preferred stock subject to the conditions and restrictions on issuance set forth in the Articles of Incorporation or in any certificate of designation creating a series of preferred stock or any similar stock or as otherwise required by law.

Status of Converted Stock. In the event any shares of Series A B Preferred Stock shall be converted or otherwise acquired by pursuant to the Companyterms hereof, the shares so converted converted, redeemed or repurchased shall be canceled cancelled and shall resume revert to the status category of authorized but unissued shares of preferred stock without differentiation as to series. All such shares may be reissued as part of a new series of preferred stock subject to Preferred Stock by the conditions and restrictions on issuance set forth in the Articles of Incorporation or in any certificate of designation creating a series of preferred stock or any similar stock or as otherwise required by lawCorporation.

Status of Converted Stock. In Upon the event any Mandatory Conversion or extinguishment of the Series A Preferred, the shares converted or extinguished will be automatically returned to the status of authorized and unissued shares of preferred stock, available for future designation and issuance pursuant to the terms of the Articles of Incorporation. Following conversion of all outstanding shares of Series A Preferred Stock on the Mandatory Conversion, this Certificate of Designations shall be converted or otherwise acquired by the Company, the shares so converted shall automatically cancelled and void and be canceled of no further force and shall resume the status of authorized shares of preferred stock without differentiation as to series. All such shares may be reissued as part of a new series of preferred stock subject to the conditions and restrictions on issuance set forth in the Articles of Incorporation or in any certificate of designation creating a series of preferred stock or any similar stock or as otherwise required by laweffect.

Status of Converted Stock. In the event any shares of Series A Preferred Stock shall be converted or otherwise acquired by the CompanyCorporation, the shares so converted shall be canceled and shall resume the status of authorized shares of preferred stock without differentiation as to series. All such shares may be reissued as part of a new series of preferred stock subject to the conditions and restrictions on issuance set forth in the Articles of Incorporation or in any certificate of designation creating a series of preferred stock or any similar stock or as otherwise required by law.

Status of Converted Stock. In the event any shares of Series A Preferred Stock shall be converted or otherwise acquired by pursuant to the Companyterms hereof, the shares so converted converted, redeemed or repurchased shall be canceled cancelled and shall resume revert to the status category of authorized but unissued shares of preferred stock without differentiation as to series. All such shares may be reissued as part of a new series of preferred stock subject to Preferred Stock by the conditions and restrictions on issuance set forth in the Articles of Incorporation or in any certificate of designation creating a series of preferred stock or any similar stock or as otherwise required by lawCorporation.

Status of Converted Stock. In the event any shares of Series A Preferred Stock shall be converted or otherwise acquired by the CompanyCorporation, the shares so converted shall be canceled and shall resume the status of authorized shares of preferred stock without differentiation as to series. All such shares shares-may be reissued as part of a new series of preferred stock subject to the conditions and restrictions on issuance set forth in the Articles of Incorporation or in any certificate of designation creating a series of preferred stock or any similar stock or as otherwise required by law.

Status of Converted Stock. In Upon the event any conversion, redemption or extinguishment of the Series A Preferred, the shares converted, redeemed or extinguished will be automatically returned to the status of authorized and unissued shares of preferred stock, available for future designation and issuance pursuant to the terms of the Articles of Incorporation. Following conversion of all outstanding shares of Series A Preferred Stock on the Mandatory Conversion, this Certificate of Designations shall be converted or otherwise acquired by the Company, the shares so converted shall automatically cancelled and void and be canceled of no further force and shall resume the status of authorized shares of preferred stock without differentiation as to series. All such shares may be reissued as part of a new series of preferred stock subject to the conditions and restrictions on issuance set forth in the Articles of Incorporation or in any certificate of designation creating a series of preferred stock or any similar stock or as otherwise required by laweffect.