Common use of Dividend Preference Clause in Contracts

Dividend Preference. Holder shall be entitled to receive a cash dividend or distribution (the "DIVIDEND") for each share of Series D Preferred Stock at the rate of ten percent (10%) per annum on the original $2.81 issue amount of such share, subject to the following terms and conditions: 2.1. Dividends shall be declared and paid, in full or in part, only when funds for payment of the same are legally available and if, when and as the board of directors (the "BOARD") of Company, in its sole discretion, shall deem the same to be advisable. The determination by the Board of the amount available for payment of Dividends shall be binding and conclusive on the holders of all stock of Company outstanding at the time.

Dividend Preference. Holder shall be entitled to receive a cash dividend or distribution (the "DIVIDEND") for each share of Series D C Preferred Stock at the rate of ten percent (10%) per annum on the original $2.81 3.09 issue amount of such share, subject to the following terms and conditions: 2.1. Dividends shall be declared and paid, in full or in part, only when funds for payment of the same are legally available and if, when and as the board of directors (the "BOARD") of Company, in its sole discretion, shall deem the same to be advisable. The determination by the Board of the amount available for payment of Dividends shall be binding and conclusive on the holders of all stock of Company outstanding at the time.