Common use of Dividend Payment Date Clause in Contracts

Dividend Payment Date. Accrued but unpaid dividends shall not bear interest. Dividends paid on the shares of Series A Preferred Stock in an amount less than the total amount of such dividends at the time accrued and payable on such shares shall be allocated pro rata on a share-by-share basis among all such shares at the time outstanding. The Board of Directors may fix a record date for the determination of holders of shares of Series A Preferred Stock entitled to receive payment of a dividend or distribution declared thereon, which record date shall be not more than 60 days prior to the date fixed for the payment thereof.

Dividend Payment Date. Accrued but unpaid dividends shall not bear interest. Dividends paid on the shares Units of Series A Preferred Stock in an amount less than the total aggregate amount of all such dividends at the time accrued and payable on such shares Units shall be allocated pro rata on a shareunit-by-share unit basis among all such shares Units of Series A Preferred Stock at the time outstanding. The Board of Directors may fix a record date for the determination of holders of shares Units of Series A Preferred Stock entitled to receive payment of a dividend or distribution declared thereon, which record date shall be not no more than 60 30 days prior to the date fixed for the payment thereof.