Common use of Dividends Preferential Clause in Contracts

Dividends Preferential. Except with the consent in writing of the holders of all the Second Preferred Shares outstanding, no dividend can be declared and paid on or set apart for payment on the Common Shares or on any other shares ranking junior to the Second Preferred Shares unless and until all dividends, if any, up to and including any dividend payable for the last completed period for which such dividend is payable on each series of Second Preferred Shares outstanding have been declared and paid or set apart for payment. 1. The rights, privileges, restrictions and conditions attaching to the Special Shares are as follows:

Appears in 2 contracts

Sources: Arrangement Agreement (Encana Corp), Arrangement Agreement (Cenovus Energy Inc.)

Dividends Preferential. Except with the consent in writing of the holders of all the Second First Preferred Shares outstanding, no dividend can shall be declared and paid on paid, or set apart for payment payment, on the Second Preferred Shares or the Common Shares or on any other shares ranking junior to the Second First Preferred Shares unless and until all dividends, if any, up to and including any dividend payable for the last completed period for which such dividend is payable on each series of Second First Preferred Shares outstanding have been declared and paid or set apart for payment. 1. The rights, privileges, restrictions and conditions attaching to the Special Shares are as follows:

Appears in 2 contracts

Sources: Arrangement Agreement (Encana Corp), Arrangement Agreement (Cenovus Energy Inc.)

Dividends Preferential. Except with the consent in writing of the holders of all the Second Preferred Shares outstanding, no dividend can be declared and paid on paid, or set apart for payment payment, on the Class A Common Shares or the Common Shares or on any other shares ranking junior to the Second Preferred Shares unless and until all dividends, if any, up to and including any dividend payable for the last completed period for which such dividend is payable on each series of Second Preferred Shares outstanding have been declared and paid or set apart for payment. 1. The rights, privileges, restrictions and conditions attaching to the Special Common Shares are as follows:

Appears in 2 contracts

Sources: Arrangement Agreement (Encana Corp), Arrangement Agreement (Cenovus Energy Inc.)

Dividends Preferential. Except with the consent in writing of the holders of all the Second First Preferred Shares outstanding, no dividend can be declared and paid on paid, or set apart for payment payment, on the Second Preferred Shares, the Class A Common Shares or the Common Shares or on any other shares ranking junior to the Second First Preferred Shares unless and until all dividends, if any, up to and including any dividend payable for the last completed period for which such dividend is payable on each series of Second First Preferred Shares outstanding have been declared and paid or set apart for payment. 1. The rights, privileges, restrictions and conditions attaching to the Special Shares are as follows:

Appears in 2 contracts

Sources: Arrangement Agreement (Encana Corp), Arrangement Agreement (Cenovus Energy Inc.)