Common use of Dividend Provisions Clause in Contracts

Dividend Provisions. Subject to the rights of series or classes of Preferred Stock which may from time to time come into existence pursuant to the then applicable Protective Provisions, the holders of shares of Series A Preferred Stock shall be entitled to receive noncumulative dividends, at the rate of eight percent (8%) of the Series A Original Issue Price (as defined below) per annum on each outstanding share of Series A Preferred Stock (as adjusted Air any stock splits, reverse splits, stock dividends, combinations, recapitalizations and the like with respect to such shares), out of any assets legally available therefor, prior and in preference to any declaration or payment of any dividend (payable other than in Common Stock or other securities and rights convertible into or entitling the holder thereof to receive, directly or indirectly, additional shares of Common Stock or other securities of the Company pursuant to an event causing the Conversion Price of the Preferred Stock to be adjusted pursuant to Section 4(d)(iii) hereof) on the Common Stock of the Company, when, as and if declared by the Board of Directors. As to any additional declaration or payment of any dividend (payable other than in Common Stock or other securities and rights convertible into or entitling the holder thereof to receive, directly or indirectly, additional shares of Common Stock or other securities of the Company pursuant to an event causing the Conversion Price of the Preferred Stock to be adjusted pursuant to Section 4(d)(iii) hereof), outstanding shares of Series A Preferred Stock shall participate with shares of Common Stock, participating as though such shares of Series A Preferred Stock had all been converted into Common Stock.

Dividend Provisions. Subject to the rights of series or classes of Preferred Stock which may from time to time come into existence pursuant to the then applicable Protective Provisions, the The holders of shares of Series A Preferred Stock shall be entitled to receive noncumulative receive, on a pari passu basis, dividends, at the rate of eight percent (8%) of the Series A Original Issue Price (as defined below) per annum on each outstanding share of Series A Preferred Stock (as adjusted Air any stock splits, reverse splits, stock dividends, combinations, recapitalizations and the like with respect to such shares), out of any assets legally available therefor, prior and in preference to any declaration or payment of any dividend (payable other than in Common Stock or other securities and rights convertible into or entitling the holder thereof to receive, directly or indirectly, additional shares of Common Stock or other securities of the Company pursuant to an event causing the Conversion Price of the Preferred Stock to be adjusted pursuant to Section 4(d)(iii) hereofCorporation) on the Common Stock of the CompanyCorporation, at the rate of (a) $0.010352 per share (as adjusted for stock splits, stock dividends, reclassification and the like) per annum on each outstanding share of Series A Preferred Stock, (b) $0.032872 per share (as adjusted for stock splits, stock dividends, reclassification and the like) per annum on each outstanding share of Series B Preferred Stock, (c) $0.099568 per share (as adjusted for stock splits, stock dividends, reclassification and the like) per annum on each outstanding share of Series C Preferred Stock, and (d) $0.269600 per share (as adjusted for stock splits, stock dividends, reclassification and the like) per annum on each outstanding share of Series D Preferred Stock, payable when, as and if declared by the Board of Directors of the Corporation (the “Board of Directors”). As Such dividends shall not be cumulative. Any partial payment of dividends will be made among the holders of Series A, Series B, Series C and Series D Preferred Stock in proportion to the full dividend amounts each such holder would otherwise be entitled to receive pursuant to this Section 1. After payment of such dividends, any additional declaration or payment of any dividend dividends (payable other than dividends on Common Stock payable solely in Common Stock) shall be distributed among the holders of Series A, Series B, Series C and Series D Preferred Stock or other securities and rights convertible into or entitling Common Stock pro rata based on the holder thereof to receive, directly or indirectly, additional number of shares of Common Stock or other securities then held by each holder (assuming conversion of the Company pursuant to an event causing the Conversion Price of the all such Preferred Stock to be adjusted pursuant to Section 4(d)(iii) hereof), outstanding shares of Series A Preferred Stock shall participate with shares of Common Stock, participating as though such shares of Series A Preferred Stock had all been converted into Common Stock).

Dividend Provisions. Subject to the rights of series or classes of Preferred Stock which may from time to time come into existence pursuant to the then applicable Protective Provisions, the The holders of shares of Series A E Preferred Stock shall be entitled to receive noncumulative dividends, out of any assets legally available therefore, prior and in preference to any declaration or payment of any dividend (payable other than in Common Stock) on any other class of capital stock of this Corporation, at the rate of eight percent (8%) of the Original Series A Original E Issue Price (as defined below) per annum on each outstanding share of Series A Preferred Stock (, and as adjusted Air for any stock splits, reverse splits, stock dividends, stock distributions, combinations, recapitalizations and the like consolidations or splits with respect to such shares)) per share per annum. Following the payment of any dividends to the holders of shares of Series E Preferred, the holders of shares of Series D Preferred shall be entitled to receive dividends, out of any assets legally available therefor, prior and in preference to any declaration or payment of any dividend (payable other than in Common Stock Stock) on any other class or series of capital stock of this Corporation, other securities than the Series E Preferred, at the rate of eight percent (8%) of the Original Series D Issue Price (as defined below, and rights convertible into as adjusted for any stock dividends, stock distributions, combinations, consolidations or entitling splits with respect to such shares) per share per annum. Following the holder thereof payment of any dividends to receive, directly or indirectly, additional the holders of shares of Common Stock or Series E Preferred and Series D Preferred, the holders of shares of Preferred (other securities than the Series E Preferred and the Series D Preferred) shall be entitled to receive dividends, out of the Company pursuant to an event causing the Conversion Price of the Preferred Stock to be adjusted pursuant to Section 4(d)(iii) hereof) on the Common Stock of the Companyany assets legally available therefor, when, as prior and if declared by the Board of Directors. As in preference to any additional declaration or payment of any dividend (payable other than in Common Stock) on the Common Stock of this Corporation, at the rate of eight percent (8%) of such series’ respective Original Issue Price (as defined below, and as adjusted for any stock dividends, stock distributions, combinations, consolidations or splits with respect to such shares) per share per annum. Such dividends shall not be cumulative and shall be paid only when, if and as declared by the Board of Directors of the Corporation. No dividend shall be paid on shares of a series of Preferred (other securities than the Series E Preferred and rights convertible into or entitling the holder Series D Preferred) in any fiscal year unless the holders of shares of each other series of Preferred (other than the Series E Preferred and the Series D Preferred) participate in such dividend, pro rata among the holders thereof based upon the full dividend amount to receive, directly or indirectly, additional which they are entitled. No dividend shall be paid on shares of Common Stock or other securities of in any fiscal year unless (i) the Company pursuant to an event causing the Conversion Price aforementioned noncumulative preferential dividends of the Preferred shall have been paid in full and (ii) the holders of Preferred participate in any such dividend on the Common Stock on a pro rata basis in proportion to be adjusted pursuant to Section 4(d)(iii) hereof), outstanding shares the number of Series A Preferred Stock shall participate with shares of Common Stock, participating as though Stock held of record by each such shares holder of Series A Preferred Stock had (assuming the conversion of all been converted Preferred into Common Stock).

Dividend Provisions. (a) Subject to the rights of series or classes of Preferred Stock which may from time to time come into existence pursuant to the then applicable Protective Provisionsexistence, the holders of shares of Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock shall be entitled to receive noncumulative dividends, at the rate of eight percent (8%) of the Series A Original Issue Price (as defined below) per annum on each outstanding share of Series A Preferred Stock (as adjusted Air any stock splits, reverse splits, stock dividends, combinations, recapitalizations and the like with respect to such shares), out of any assets legally available therefor, prior and in preference to any declaration or payment of any dividend (payable other than in in: (a) Common Stock or other securities and rights convertible into or entitling the holder thereof to receive, directly or indirectly, additional shares of Common Stock of this corporation; or (b) capital stock of other securities persons (including without limitation subsidiaries of the Company pursuant this corporation) or options or rights to an event causing the Conversion Price of the Preferred Stock to be adjusted pursuant to Section 4(d)(iii) hereofpurchase any such capital stock) on the Common Stock of this corporation, at the Companyrate of (i) $0.08 per share of Series A Preferred Stock per annum, $0.356 per share of Series B Preferred Stock per annum and $0.6432 per share of Series C Preferred Stock per annum, or (ii) if greater, the amount per annum which would be paid per share of Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock, as the case may be, on the number of shares of Common Stock into which such share is convertible as of the record date fixed for determination of the stockholders entitled to receive such distribution (assuming conversion of all convertible Preferred Stock), payable quarterly when, as and if declared by the Board of Directors. As Such dividends shall not be cumulative. Dividends paid in a form other than cash shall be deemed to any additional declaration or payment be the fair value thereof as determined by the Board of Directors irrespective of any dividend (payable other than in Common Stock or other securities and rights convertible into or entitling the holder thereof to receive, directly or indirectly, additional shares of Common Stock or other securities of the Company pursuant to an event causing the Conversion Price of the Preferred Stock to be adjusted pursuant to Section 4(d)(iii) hereof), outstanding shares of Series A Preferred Stock shall participate with shares of Common Stock, participating as though such shares of Series A Preferred Stock had all been converted into Common Stockaccounting treatment.