Declaration of dividends by the Board. The Board may, subject to any rights or restrictions at the time lawfully attached to any class or series of shares and subject to these Bye-laws and in accordance with Section 54 of the Act, declare a dividend to be paid to the Members, in proportion to the number of shares held by them, and such dividend may be paid in cash or wholly or partly in specie in which case the Board may fix the value for distribution in specie of any assets.
Appears in 3 contracts
Samples: Agreement and Plan of Amalgamation (Max Capital Group Ltd.), Amalgamation Agreement (Max Capital Group Ltd.), Agreement and Plan of Amalgamation (Ipc Holdings LTD)
Declaration of dividends by the Board. (1) The Board may, subject to any rights or restrictions at the time lawfully attached to any class or series of shares and subject to these Bye-laws and the Members’ Agreement and in accordance with Section 54 of the Act, declare a dividend to be paid to the Members, in proportion to the number of shares by class held by them, and such dividend may be paid in cash or wholly or partly in specie in which case the Board may fix the value for distribution in specie of any assets.
Appears in 1 contract
Samples: Contribution and Sale Agreement (Textainer Group Holdings LTD)
