Common use of Dividend Calculation Clause in Contracts

Dividend Calculation. The Company and Holder agree that dividends on the -------------------- Series F Preferred Stock shall be calculated as specified the Statement of Resolutions as if (1) Holder held a certificate in the amount specified in Section 1.a as of the Effective Date of this Agreement, and (2) the Statement of Resolutions were filed with the Secretary of State of the State of Texas as of the Effective Date. Holder agrees that for all dividends due from the Effective Date through Closing under the Statement of Resolutions and not previously waived as to payment by any holder of Series F Convertible Preferred Stock, such dividends shall not be deemed untimely so long as they are paid on or before Closing.