Common use of Liquidation Amount Clause in Contracts

Liquidation Amount. 4.1.1. In the event of any Liquidation Event (as defined below), either voluntary or involuntary, the holders of outstanding Series B Preferred Shares shall be entitled to receive, out of (i) the proceeds of such Liquidation Event received by the Corporation, in the case of a Liquidation Event under Section 3.3.1, (ii) the proceeds received by the stockholders of the Corporation, in the case of a Liquidation event under Section 3.3.2 or Section 3.3.3, or (iii) the assets of the Corporation legally available for distribution to the stockholders of the Corporation, in the case of a Liquidation event under Section 3.3.4 (as applicable, the "Proceeds") prior and in preference to the holders of Common Stock, the Series A Preferred Stock or any other class or series of stock of the Corporation ranking junior to the Series B Preferred Shares with respect to any Liquidation Event, by reason of their ownership thereof, an amount equal to the sum of (i) $3.0333 (the "Series B Liquidation Price") per Series B Preferred Share, (ii) an amount equal to all declared or accrued but unpaid dividends on such share, (iii) the accrued Four-Percent Suspendible Premium (as defined in Section 5.1), and (iv) the accrued Six-Percent Triggered Premium (as defined in Section 5.1), if any (the "Series B Liquidation Amount"). 4.1.2. If upon the occurrence of any Liquidation Event, the Proceeds thus distributed among the holders of Series B Preferred Shares shall be insufficient to permit the payment to such holders of the full Series B Liquidation Amount, then, the Proceeds shall be distributed ratably among the holders of Series B Preferred Stock in proportion to the full Series B Liquidation Amount each such holder is otherwise entitled to receive under this Section 3.1.