Special Parity Stock

Special Parity Stock. Means shares of Preferred Stock of the Company authorized for issue by the Board of Directors the material powers, preferences and relative, optional and other rights of which are, taken as a whole, no more favorable to the holder thereof as those of the AA Preferred Stock and which expressly provide that such shares rank on a parity with the AA Preferred Stock as to dividend distributions and distributions upon liquidation, winding-up and dissolution of the Company; provided, if such shares... are being issued pursuant to the conversion provisions of any Indebtedness or Convertible Securities, such shares will constitute Special Parity Stock only if the issuance of such Indebtedness or Convertible Securities shall have been approved by the Majority Holders. View More