Document:

EX-10.1

 Exhibit 10.1 

EXECUTION COPY 
 INCREMENTAL
FACILITY AGREEMENT 
 INCREMENTAL FACILITY AGREEMENT, dated February 26, 2020 (this “Agreement”), by and among each of
the signatories hereto, to the Credit Agreement, dated as of April 6, 2018 (as amended, restated, supplemented or otherwise modified from time to time, and as modified by this Agreement, the “Credit Agreement”), among TPI
Composites, Inc., a Delaware corporation (the “Borrower”), the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”).
Capitalized terms used in this Agreement without definition shall have the meanings given them in the Credit Agreement. 
 W I T N E S S E T
H 
 WHEREAS, pursuant to Section 2.20 of the Credit Agreement, the Borrower has the right, subject to the terms
and conditions thereof, to effectuate from time to time an increase in the Aggregate Revolving Commitment under the Credit Agreement by requesting one or more Lenders to increase the amount of its Revolving Commitment and/or by inviting one or more
new banks, financial institutions or other entities to extend Revolving Commitments; 
 WHEREAS, the Borrower has given written notice to
the Administrative Agent of its intention to, on the date hereof, increase the Aggregate Revolving Commitment by $55,000,000 (such increase, the “Incremental Commitments”) pursuant to such Section 2.20 and
the Administrative Agent hereby acknowledges receipt of such notice; 
 WHEREAS, pursuant to Section 2.20 of the
Credit Agreement, the undersigned Lenders party to the Credit Agreement immediately prior to the Incremental Facility Effective Date (as defined below) and signing this Agreement as an “Increasing Lender” (collectively, the
“Increasing Lenders” and each individually, an “Increasing Lender”) now desire to increase the amount of their respective Revolving Commitments under the Credit Agreement by executing and delivering to the Borrower
and the Administrative Agent counterparts to this Agreement; 
 WHEREAS, the Credit Agreement provides in
Section 2.20 thereof that (x) the Borrower may arrange for any new bank, financial institution or other entity (other than an Ineligible Institution) to extend Revolving Commitments under the Credit Agreement and, if
such Person is not then a Lender or an Affiliate of a Lender, such Person shall be reasonably acceptable to the Administrative Agent, the Issuing Banks and the Swingline Lender and (y) the Incremental Commitments shall be effectuated pursuant
to one or more Incremental Facility Agreements executed and delivered by the Borrower, each Incremental Lender providing such Incremental Commitments and the Administrative Agent; and 

WHEREAS, each of the undersigned financial institutions signing this Agreement as an “Augmenting Lender” (collectively, the
“Augmenting Lenders” and each individually, an “Augmenting Lender”; the Augmenting Lenders, together with the Increasing Lenders, the “Incremental Revolving Lenders” and each individually, an
“Incremental Revolving Lender”) was not party to the Credit Agreement immediately prior to the Incremental Facility Effective Date but now desires to become a party thereto by executing and delivering to the Borrower and the
Administrative Agent counterparts to this Agreement; 

 NOW, THEREFORE, in consideration of the premises and mutual agreements herein contained and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of the parties hereto hereby agrees as follows: 

1.    For the avoidance of doubt, the terms and conditions of the Incremental Commitments and Revolving Loans and other
extensions of credit to be made thereunder and hereunder shall be identical to those of the Revolving Commitments and Revolving Loans and other extensions of credit made under the Credit Agreement on the Effective Date, as applicable, shall
constitute “Revolving Commitments” and “Revolving Loans”, as applicable, for all purposes under the Credit Agreement (as amended by this Agreement) and any other Loan Document and shall be treated as a single Class with such
Revolving Commitments and Revolving Loans, as applicable. 
 2.    Each of the undersigned Increasing Lenders severally
agrees, subject to the terms and conditions of this Agreement, that on the Incremental Facility Effective Date it shall have its Revolving Commitment increased by the aggregate principal amount set forth in the column titled “Increase to
Commitment” opposite its name on Schedule I attached hereto, thereby making the aggregate principal amount of its total Revolving Commitment equal to the aggregate principal amount set forth in the column titled “Total
Commitment” opposite its name on Schedule I attached hereto. 
 3.    Each of the undersigned Augmenting
Lenders severally agrees, subject to the terms and conditions of this Agreement, to be bound by the provisions of the Credit Agreement and agrees that it shall, on the Incremental Facility Effective Date, become a Lender for all purposes of the
Credit Agreement to the same extent as if originally a party thereto, with a Revolving Commitment equal to the aggregate principal amount set forth in the column titled “Total Commitment” opposite its name on Schedule I attached
hereto; it being understood and agreed that, as of the Incremental Facility Effective Date and after giving effect to this Agreement, the Aggregate Revolving Commitment is $205,000,000. 

4.    Each of the undersigned Augmenting Lenders (a) represents and warrants that (i) it has full power and
authority, and has taken all action necessary, to execute and deliver this Agreement and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement; (ii) it satisfies the requirements, if any, specified
in the Credit Agreement and under applicable law that are required to be satisfied by it in order to become a Lender, (iii) from and after the Incremental Facility Effective Date, it shall be bound by the provisions of the Credit Agreement as a
Lender thereunder and, to the extent of its Revolving Commitment, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type contemplated by this Agreement and either it,
or the Person exercising discretion in making its decision to enter into this Agreement, is experienced in acquiring assets of such type, and (v) it has received a copy of the Credit Agreement, together with copies of the most recent financial
statements delivered pursuant to Section 5.01 thereof, as applicable, and has reviewed such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this
Agreement on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent, any Arranger, or any other Lender or any of their respective Related Parties; (b) agrees that it will,
independently and without reliance upon the Administrative Agent, any Arranger, any Co-Syndication Agent or any other Lender or any of their respective Related Parties, and based on such documents and
information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement or any other Loan Documents; (c) appoints and authorizes the Administrative Agent to take
such action as agent on its behalf and to exercise such powers and discretion under the Credit Agreement or any other instrument or document furnished pursuant hereto or thereto as are delegated to the Administrative Agent by the terms thereof,
together with such powers as are incidental thereto; and (d) agrees that it will be bound by the provisions of the Credit Agreement and will perform in accordance with its terms all the obligations which by the terms of the Credit Agreement are
required to be performed by it as a Lender. 
 5.    The Borrower hereby represents and warrants that no Default or
Event of Default has occurred and is continuing on and as of the date hereof, immediately after giving effect (including pro forma effect) to the Incremental Commitments and the making of any Loans and/or issuance of any Letters of Credit to be made
on the date hereof. 

 6.    The Borrower hereby represents and warrants that the
representations and warranties of the Loan Parties set forth in the Loan Documents are true and correct in all material respects (or, if qualified by materiality or “Material Adverse Effect”, in all respects) on and as of the date hereof,
except in the case of any such representation and warranty that expressly relates to an earlier date, in which case such representation and warranty was true and correct in all material respects (or, if qualified by Material Adverse Effect or other
materiality qualification, in all respects) as of such earlier date. 
 7.    The Borrower hereby represents and
warrants that after giving effect to the Incremental Commitments and the making of Loans and other extensions of credit to be made under the Credit Agreement on the date hereof (if any) (and assuming that the Incremental Commitments are fully drawn
but excluding the proceeds of the Incremental Commitments for purposes of netting cash and Cash Equivalents in the calculation of the Total Net Leverage Ratio), the Borrower is in pro forma compliance with the financial covenants set forth in
Section 6.12 of the Credit Agreement. 
 8.    The Incremental Commitments contemplated hereby
shall not become effective until the date on which each of the following conditions have been satisfied (the date of such effectiveness, the “Incremental Facility Effective Date”): 

 

	 	a)	 the Administrative Agent (or its counsel) shall have received from each party hereto either (x) a
counterpart of this Agreement signed on behalf of such party or (y) written evidence satisfactory to the Administrative Agent (which may include telecopy or electronic transmission of a signed signature page of this Agreement) that such party
has signed a counterpart of this Agreement; 

  

	 	b)	 the representations and warranties set forth in paragraphs 5, 6, and 7 hereof shall be true and correct as of
such date and the Administrative Agent shall have received a certificate to that effect dated such date and executed by a Financial Officer of the Borrower; 

  

	 	c)	 the Administrative Agent shall have received (x) corporate documents of the Borrower and a legal opinion
of Goodwin Procter, as special counsel for the Borrower, substantially consistent with those delivered on the Effective Date as to matters reasonably requested by the Administrative Agent, (y) reaffirmations from the Loan Parties substantially
in the form of Exhibit A attached hereto and (z) any amendments, supplements or other modifications to the local law governed pledge agreements of the equity interests of Material Foreign Subsidiaries organized under the laws of Mexico
reasonably requested by the Administrative Agent (it being understood and agreed that to the extent such amendments, supplements or other modifications cannot be delivered by the Incremental Facility Effective Date they shall not constitute
conditions to the effectiveness of this Agreement and the Incremental Commitments contemplated hereby but shall be delivered within thirty (30) days of the Incremental Facility Effective Date (or such later date as may be agreed by the
Administrative Agent in its reasonable discretion)); and 

  

	 	d)	 the Administrative Agent shall have received (i) for the account of each Incremental Revolving Lender on
the Incremental Facility Effective Date, an Upfront Fee (as defined below) and (ii) payment of the Administrative Agent’s and its Affiliates’ reasonable and documented
out-of-pocket expenses (which shall be 

	 	
limited, in the case of legal fees and expenses, to the reasonable and documented fees, disbursements, and other charges of Latham & Watkins LLP, as primary counsel, and a single counsel
in each applicable foreign jurisdiction) in connection with this Agreement, the other documentation to be delivered in connection with the Incremental Commitments and the other Loan Documents to the extent earned, due and owing and otherwise
reimbursable pursuant to the terms of the Credit Agreement or this Agreement; provided, that Borrower shall have received invoices from the Administrative Agent (or its counsel) for such expenses at least one (1) Business Day prior to
the Incremental Facility Effective Date. 

 As used herein, “Upfront Fee” shall mean, with
respect to each Incremental Revolving Lender, a fee equal to the product of (i) the percentage set forth as the upfront fee previously disclosed in writing to such Incremental Revolving Lender and the Borrower multiplied by (ii) the
aggregate amount of Incremental Commitments held by such Incremental Revolving Lender as of the Incremental Facility Effective Date. 

The Administrative Agent shall notify the Borrower and the Incremental Revolving Lenders of the Incremental Facility Effective
Date, and such notice shall be conclusive and binding on all parties hereto. 
 9.     The Borrower shall make any
payments required to be made pursuant to Section 2.16 of the Credit Agreement in connection with the Incremental Commitments and any related transactions contemplated by Section 2.20 of the Credit
Agreement. 
 10.    This Agreement shall be construed in accordance with and governed by the laws of the State of New
York. 
 11.    This Agreement is a Loan Document and an Incremental Facility Agreement under (and as defined in) the
Credit Agreement. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.
Delivery of an executed counterpart of a signature page of this Agreement by telecopy, emailed pdf. or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed
counterpart of this Agreement. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to any document to be signed in connection with this Agreement and the
transactions contemplated hereby shall be deemed to include Electronic Signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature,
physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York
State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided that nothing herein shall require the Administrative Agent to accept electronic signatures in any form or
format without its prior written consent. 
 12.    The provisions of Section 9.09(b) through Section 9.09(e),
and Section 9.10 of the Credit Agreement are incorporated herein mutatis mutandis as if set forth herein. 
 [Signature Pages
Follow] 

 IN WITNESS WHEREOF, each of the undersigned has caused this Agreement to be executed and
delivered by a duly authorized officer on the date first above written. 
  

			
	INCREASING LENDER:
	
	JPMORGAN CHASE BANK, N.A.
	By:	 	 /s/ Lynn Braun

	Name:	 	Lynn Braun
	Title:	 	Executive Director

  
 [Signature Page to
Incremental Facility Agreement] 

 IN WITNESS WHEREOF, each of the undersigned has caused this Agreement to be executed and
delivered by a duly authorized officer on the date first above written. 
  

			
	INCREASING LENDER:
	
	BANK OF AMERICA, N.A
	By:	 	 /s/ Alain Pelanne

	Name:	 	Alain Pelanne
	Title:	 	Vice President

  
 [Signature Page to
Incremental Facility Agreement] 

 
			
	AUGMENTING LENDER:
	
	BMO HARRIS BANK
	By:	 	 /s/ Terry Switz

	Name:	 	Terry Switz
	Title:	 	Director

  
 [Signature Page to
Incremental Facility Agreement] 

 Accepted and agreed to as of the date first written above: 

 

			
	 TPI COMPOSITES, INC.

	 By:
	 	 /s/ Bryan Schumaker

	 Name:
	 	 Bryan Schumaker

	 Title:
	 	 Chief Financial Officer

  
 [Signature Page to
Incremental Facility Agreement] 

 Acknowledged as of the date first written above: 

JPMORGAN CHASE BANK, N.A. 
 as Administrative Agent, as the
Swingline Lender and as an Issuing Bank 
  

			
	By:	 	 /s/ Lynn Braun

	Name:	 	Lynn Braun
	Title:	 	Executive Director

  
 [Signature Page to
Incremental Facility Agreement] 

 WELLS FARGO BANK, NATIONAL ASSOCIATION 

as an Issuing Bank 
  

			
	By:	 	 /s/ Zane Hwang

	Name:	 	Zane Hwang
	Title:	 	Vice President

  
 [Signature Page to
Incremental Facility Agreement] 

 CAPITAL ONE, NATIONAL ASSOCIATION 

as an Issuing Bank 
  

			
	By:	 	 /s/ Neha H. Shah

	Name:	 	Neha H. Shah
	Title:	 	Duly Authorized Signatory

  
 [Signature Page to
Incremental Facility Agreement] 

 SCHEDULE I 

to Incremental Facility Agreement 
  

									
	 INCREASING OR AUGMENTING LENDER
	  	 INCREASE
TO
COMMITMENT
	 	  	 TOTAL
COMMITMENT
	 
	 JPMORGAN CHASE BANK, N.A.
	  	$	10,000,000	 	  	$	55,000,000	 
	 BANK OF AMERICA, N.A.
	  	$	15,000,000	 	  	$	30,000,000	 
	 BMO HARRIS BANK
	  	 	N/A	 	  	$	30,000,000	 

 EXHIBIT A 

CONSENT AND REAFFIRMATION 

February 26, 2020 
 Each of
the undersigned hereby acknowledges receipt of a copy of the foregoing Incremental Facility Agreement dated as of the date hereof (the “Incremental Facility Agreement”), which amends that certain Credit Agreement dated as of
April 6, 2018 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) by and among TPI Composites, Inc., a Delaware corporation, the financial institutions from time to time party
thereto (the “Lenders”) and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”). Capitalized terms used in this Consent and Reaffirmation and not defined herein shall have the meanings
given to them in the Credit Agreement or the Incremental Facility Agreement, as applicable. Without in any way establishing a course of dealing by the Administrative Agent or any Lender, each of the undersigned consents to the Incremental Facility
Agreement and reaffirms the terms and conditions of the Credit Agreement and any other Loan Document executed by it and acknowledges and agrees that such Credit Agreement and each and every such Loan Document executed by the undersigned in
connection with the Credit Agreement remains in full force and effect and is hereby reaffirmed, ratified and confirmed. Any security created by the Loan Documents shall remain in full force and effect and continue to secure the Secured Obligations.
Each of the undersigned hereby represents and warrants that the representations and warranties of the Loan Parties set forth in the Loan Documents are true and correct in all material respects (or, if qualified by materiality or “Material
Adverse Effect”, in all respects) on and as of the date hereof, except in the case of any such representation and warranty that expressly relates to an earlier date, in which case such representation and warranty was true and correct in all
material respects (or, if qualified by Material Adverse Effect or other materiality qualification, in all respects) as of such earlier date. All references to the Credit Agreement contained in the above-referenced documents shall be a reference to
the Credit Agreement as so modified by the Incremental Facility Agreement. 
 [Signature Pages Follow] 

 COMPOSITE SOLUTIONS, INC. 
  

			
	By:	 	 /s/ Bryan Schumaker

	Name:	 	Bryan Schumaker
	Title:	 	Chief Financial Officer
	
	TPI, INC.
		
	By:	 	 /s/ Bryan Schumaker

	Name:	 	Bryan Schumaker
	Title:	 	Chief Financial Officer
	
	TPI TECHNOLOGY, INC.
		
	By:	 	 /s/ Bryan Schumaker

	Name:	 	Bryan Schumaker
	Title:	 	Chief Financial Officer
	
	TPI CHINA, LLC
		
	By:	 	 /s/ Bryan Schumaker

	Name:	 	Bryan Schumaker
	Title:	 	Chief Financial Officer
	
	TPI CHINA II, LLC
		
	By:	 	 /s/ Bryan Schumaker

	Name:	 	Bryan Schumaker
	Title:	 	Chief Financial Officer
	
	TPI IOWA, LLC
		
	By:	 	 /s/ Bryan Schumaker

	Name:	 	Bryan Schumaker
	Title:	 	Chief Financial Officer
	
	TPI IOWA II, LLC
		
	By:	 	 /s/ Bryan Schumaker

	Name:	 	Bryan Schumaker
	Title:	 	Chief Financial Officer

  
 [SIGNATURE PAGE TO
CONSENT AND REAFFIRMATION TO INCREMENTAL FACILITY AGREEMENT] 

			
	TPI ARIZONA, LLC
		
	By:	 	 /s/ Bryan Schumaker

	Name:	 	Bryan Schumaker
	Title:	 	Chief Financial Officer
	
	TPI MEXICO, LLC
		
	By:	 	 /s/ Bryan Schumaker

	Name:	 	Bryan Schumaker
	Title:	 	Chief Financial Officer
	
	TPI MEXICO III, LLC
		
	By:	 	 /s/ Bryan Schumaker

	Name:	 	Bryan Schumaker
	Title:	 	Chief Financial Officer
	
	TPI MEXICO V, LLC
		
	By:	 	 /s/ Bryan Schumaker

	Name:	 	Bryan Schumaker
	Title:	 	Chief Financial Officer
	
	TPI MEXICO VII, LLC
		
	By:	 	 /s/ Bryan Schumaker

	Name:	 	Bryan Schumaker
	Title:	 	Chief Financial Officer
	
	TPI TURKEY, LLC
		
	By:	 	 /s/ Bryan Schumaker

	Name:	 	Bryan Schumaker
	Title:	 	Chief Financial Officer
	
	TPI TURKEY IZBAS, LLC
		
	By:	 	 /s/ Bryan Schumaker

	Name:	 	Bryan Schumaker
	Title:	 	Chief Financial Officer

  
 [SIGNATURE PAGE TO
CONSENT AND REAFFIRMATION TO INCREMENTAL FACILITY AGREEMENT] 

 TPI HOLDINGS MEXICO, LLC 
  

			
	By:	 	 /s/ Bryan Schumaker

	Name:	 	Bryan Schumaker
	Title:	 	Chief Financial Officer

  
 [SIGNATURE PAGE TO
CONSENT AND REAFFIRMATION TO INCREMENTAL FACILITY AGREEMENT]Exhibit

Exhibit 4.31

DESCRIPTION OF DISCOVERY’S SECURITIES REGISTRERED PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934

As of February 27, 2020, the securities of Discovery, Inc. (“Discovery”) that are registered under Section 12 of the Securities Exchange Act of 1934 are Series A common stock, Series B common stock and Series C common stock (“Discovery common stock”). 
The following description of the material terms of Discovery common stock is a summary, does not purport to be complete and is qualified in its entirety by reference to Discovery’s charter and Discovery’s bylaws (which are incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this Exhibit is a part), and to the applicable provisions of the Delaware General Corporation Law (“DGCL”). 
General
Discovery’s authorized capital stock consists of 1,700,000,000 shares of Discovery Series A common stock, 100,000,000 shares of Discovery Series B common stock, 2,000,000,000 shares of Discovery Series C common stock and 50,000,000 shares of blank check preferred stock. Discovery currently has issued and outstanding Series A-1 preferred stock and Series C-1 preferred stock.  Discovery’s preferred stock is not registered under Section 12 of the Securities Exchange Act of 1934.  All issued and outstanding shares of Discovery common stock are duly authorized, validly issued, fully paid and nonassessable.  The holders of Discovery Series A common stock, Discovery Series B common stock and Discovery Series C common stock have equal rights, powers and privileges, except as otherwise described below.
Voting Rights
The holders of Discovery Series A common stock are entitled to one vote for each share held, and the holders of Discovery Series B common stock are entitled to ten votes for each share held, on all matters voted on by stockholders, including elections of directors (other than the directors to be elected by the holders of Discovery Series A-1 preferred stock). The holders of Discovery Series C common stock are not entitled to any voting powers, except as required under the DGCL. If the vote or consent of holders of Discovery Series C common stock is required for a matter under the DGCL, the holders of Discovery Series C common stock will be entitled to 1/100th of a vote for each share held. 

Subject to any preferential rights of holders of Discovery Series A-1 preferred stock and any other outstanding series of preferred stock created by the Discovery board from time to time, the holders of outstanding shares of Discovery Series A common stock, Discovery Series B common stock, Discovery Series A-1 preferred stock, and each series of any other preferred stock entitled to vote thereon, if any, will vote as one class with respect to all matters to be voted on by Discovery stockholders (excluding, with respect to the holders of Discovery Series A-1 preferred stock, the election of the directors to be elected by the holders of Discovery common stock). In addition, the consent of holders of 75% of the then-outstanding shares of Discovery Series B common stock, voting together as a separate class, is required for any issuance of shares of Discovery Series B common stock by Discovery (except in limited circumstances).  Subject to the rights of the holders of certain series of preferred stock, the affirmative vote of the holders of at least 80% of the total voting power of the then outstanding voting securities is required in order for Discovery to take certain action, including: (a) the amendment of Discovery’s charter or bylaws, (b) a merger or consolidation involving Discovery, (c) the sale, lease or exchange of all, or substantially all, of the assets of Discovery, or (d) the dissolution of Discovery; provided in the case of (b), (c) and (d), however, that this voting requirement does not apply if at least 75% of the members of the Board of Directors then in office have approved such action. 
Classification of the Board
Discovery’s board of directors (the “Board”) is comprised of Common Stock Directors and Preferred Stock Directors. The Common Stock Directors are divided into three classes: Class I, Class II and Class III.  The Preferred Stock Directors are not classified.  Neither Discovery’s charter nor bylaws provide for cumulative voting rights in the election of directors. The classification of the Board could make it more difficult for a third party to acquire, or discourage a third party from seeking to acquire, control of the company. 
Dividends
Subject to any preferential rights of any outstanding series of preferred stock created by the Board from time to time, the holders of Discovery common stock are entitled to such dividends as may be declared from time to time by the Board from funds available therefor. Except in the event of distributions made in shares of Discovery common stock, whenever a dividend is paid to the holders of one series of Discovery common stock, Discovery will also pay to the holders of the other series of Discovery common stock an equal per share dividend.  The provisions related to distributions made in shares of Discovery common stock are structured to ensure that all holders of Discovery common stock are treated equally in a distribution, while protecting the relative voting rights associated with each of the shares of Discovery Series A common stock and Discovery Series B common stock. 
Conversion
Each share of Discovery Series B common stock is convertible, at the option of the holder, into one share of Discovery Series A common stock. Discovery Series A common stock and Discovery Series C common stock are not convertible.

Liquidation and Dissolution
In the event of Discovery’s liquidation, dissolution and winding up, after payment or provision for payment of Discovery’s debts and liabilities and subject to the prior payment in full of any preferential amounts to which the holders of preferred stock may be entitled including the liquidation preference granted to holders of Discovery Series A-1 preferred stock and Discovery Series C-1 preferred stock, the holders of Discovery Series A common stock, Discovery Series B common stock, Discovery Series C common stock, Discovery Series A-1 preferred stock and Discovery Series C-1 preferred stock will share equally, on a share for share basis (and in case of holders of Discovery Series A-1 preferred stock and Discovery Series C-1 preferred stock, on an as converted to common stock basis), in Discovery’s assets remaining for distribution to the holders of Discovery’s common stock.
Extraordinary Corporate Transactions
Discovery may not undertake certain extraordinary corporate transactions without the consent of the holders of a majority of the outstanding shares of the Series A-1 preferred stock.  Such extraordinary corporate transactions include fundamental changes in Discovery’s business, major acquisitions and dispositions, public offerings of securities, the merger, consolidation or other business combination by Discovery into or with any other entity (other than any transaction involving only Discovery and/or one or more of its subsidiaries), the sale of substantially all of its assets, or liquidation.   Subject to the rights of the holders of preferred stock, the affirmative vote of the holders of at least 80% of the total voting power of the then outstanding voting securities may also be required in order for Discovery to undertake certain of the foregoing extraordinary corporate transactions; provided, however, that this voting requirement does not apply if at least 75% of the members of the Board then in office have approved such action.  
Other Rights
Shares of Discovery common stock do not have any redemption provisions, preemption rights, liability for further calls or assessment by the Company, sinking fund provisions, restrictions on alienability or any provision discriminating against any existing or prospective holder of Discovery common stock as a result of such holder owning a substantial amount of such stock.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00305-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00305-of-00352.parquet"}]]