Common use of Additional Distributions Clause in Contracts

Additional Distributions. If the Company shall make a dividend or distribution of securities (other than Common Shares or Common Share Equivalents) or other property to the holders of Junior Shares and not to the holders of the Series B-2 Preferred Shares, then, unless the holders of the Series B-2 Preferred Shares are entitled to receive such distribution at a later time upon conversion of the Series B-2 Preferred Shares and such distribution has been set aside for such later distribution, each holder of Series B-2 Preferred Shares shall receive at the time of payment or issuance of such dividend or distribution, without payment or any consideration therefor, such securities or other property which he would have owned immediately following such dividend or distribution had such holder's Series B-2 Preferred Shares been converted immediately prior thereto; and an appropriate provision therefor shall be made a part of any such dividend or distribution.

Appears in 2 contracts

Samples: Employment Agreement (Cv Reit Inc), Employment Agreement (Kranzco Realty Trust)

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Additional Distributions. If the Company shall make a dividend or distribution of securities (other than Common Shares or Common Share Equivalents) or other property to the holders of Junior Shares and not to the holders of the Series B-2 B-1 Preferred Shares, then, unless the holders of the Series B-2 B-1 Preferred Shares are entitled to receive such distribution at a later time upon conversion of the Series B-2 B-1 Preferred Shares and such distribution has been set aside for such later distribution, each holder of Series B-2 B-1 Preferred Shares shall receive at the time of payment or issuance of such dividend or distribution, without payment or any consideration therefor, such securities or other property which he would have owned immediately following such dividend or distribution had such holder's Series B-2 B-1 Preferred Shares been converted immediately prior thereto; and an appropriate provision therefor shall be made a part of any such dividend or distribution.

Appears in 2 contracts

Samples: Employment Agreement (Kranzco Realty Trust), Employment Agreement (Cv Reit Inc)

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Additional Distributions. If the Company shall make a dividend or distribution of securities (other than Common Shares or Common Share Equivalents) or other property to the holders of Junior Shares and not to the holders of the Series B-2 B Preferred Shares, then, unless the holders of the Series B-2 B Preferred Shares are entitled to receive such distribution at a later time upon conversion of the Series B-2 B Preferred Shares and such distribution has been set aside for such later distribution, each holder of Series B-2 B Preferred Shares shall receive at the time of payment or issuance of such dividend or distribution, without payment or any consideration therefor, such securities or other property which he would have owned immediately following such dividend or distribution had such holder's Series B-2 B Preferred Shares been converted immediately prior thereto; and an appropriate provision therefor shall be made a part of any such dividend or distribution.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Union Property Investors Inc)

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