Common use of Dividends Preferential Clause in Contracts

Dividends Preferential. Except with the consent of the holders of all the Class B Shares outstanding, expressed by a majority vote of the Class B Share shareholders at a meeting called for that purpose, no dividends shall at any time be declared and paid on or set apart for payment on the Membership Shares, the Class A Shares, or on any shares ranking junior to the Class B Shares in any fiscal year, unless and until the preferential dividend on all the Class B Shares outstanding in respect of such fiscal year has been declared, and paid or set apart for payment.

Dividends Preferential. Except with the consent of the holders of all the Class B A Shares outstanding, expressed by a majority vote of the Class B Share A shareholders at a meeting called for that purpose, no dividends dividend shall at any time be declared and paid on or set apart for payment on the Membership Shares, the Class A Shares, or on any shares ranking junior to the Class B Shares A Shares, in any fiscal year, unless and until the preferential dividend on all the Class B A Shares outstanding in respect of such fiscal year has been declared, and paid or set apart for payment.