Liquidation, Dissolution or Winding. Up -------------------------------------- Upon any liquidation, dissolution or winding up of the Company, no distribution will be made (a) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution, or winding up) to the shares of Series A Preferred unless, prior thereto, the holders of shares of Series A Preferred have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment; provided, however, that the holders of shares of Series A -------- ------- Preferred will be entitled to receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to one hundred times the aggregate amount to be distributed per share to holders of shares of Common Stock or (b) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution, or winding up) with the shares of Series A Preferred, except distributions made ratably on the shares of Series A Preferred and all such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution, or winding up. In the event the Company at any time (i) declares a dividend on the outstanding shares of Common Stock payable in shares of Common Stock, (ii) subdivides the outstanding shares of Common Stock, (iii) combines the outstanding shares of Common Stock into a smaller number of shares, or (iv) issues any shares of its capital stock in a reclassification of the outstanding shares of Common Stock (including any such reclassification in connection with a consolidation or merger in which the Company is the continuing or surviving corporation), then, in each such case and regardless of whether any shares of Series A Preferred are then issued or outstanding, the aggregate amount to which each holder of shares of Series A Preferred would otherwise be entitled immediately prior to such event under the proviso in clause (a) of the preceding sentence will be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event.
Liquidation, Dissolution or Winding. UP In the event of the dissolution, liquidation or winding-up of the Company, whether voluntary or involuntary, or any other distribution of assets of the Company among its shareholders for the purpose of winding-up its affairs, subject to the prior rights of any other shares ranking senior to the Common Shares with respect to priority in the distribution of assets upon dissolution, liquidation, winding-up or distribution for the purpose of winding-up, the holders of the Common Shares shall be entitled to receive the remaining property and assets of the Company.
Liquidation, Dissolution or Winding up of the Affairs of the Company. In the event of any liquidation, dissolution or winding up of the affairs of the Company, upon receipt by the Depositary of cash in an amount equal to the aggregate liquidation preference of the shares of Stock held by the Depositary, plus accrued and unpaid dividends thereon (whether or not earned or declared) from the immediately preceding dividend payment date to the date of final distribution, together with any dividends that have been declared but have not been paid on or prior to the date of final distribution to the record holders of Stock, either in one distribution or as the final distribution in a series of liquidating distributions, the Depositary shall deliver the applicable number of certificates representing shares of Stock, properly endorsed or accompanied by proper instruments of transfer, to the Company. The Depositary shall distribute such cash to record holders of Receipts in proportion to the number of Depositary Shares evidenced by the Receipts held by such record holders; provided, however, that as a condition to the distribution to the holders of Depositary Shares of such cash, the Depositary shall require the surrender of the Receipts evidencing such Depositary Shares.
Liquidation, Dissolution or Winding. Up In the event of the liquidation, dissolution or winding up of the Company, or any other distribution of property or assets of the Company among its shareholders for the purpose of winding up its affairs, and after payment to the holders of the shares of any class or series of shares in the capital of the Company ranking senior to the preference shares of amounts they are entitled to, the holders of the preference shares shall be entitled to receive from the property and assets of the Company a sum equal to the redemption amount of the preference shares held by them respectively plus all dividends declared and unpaid thereon to and including the date of payment and no more, in priority to the rights of the holders of the common shares and the shares of any other class or series of shares in the capital of the Company ranking junior to the preference shares. After payment to the holders of the preference shares of the amounts so payable to them, they shall not be entitled to share in any further distribution of the property or assets of the Company. 6. Notices Any notice, cheque, notice of redemption or other communication from the Company herein provided for shall be either sent to the holders of the preference shares by ordinary unregistered mail, postage prepaid, or delivered by hand to such holders, at their respective addresses appearing on the securities register of the Company or, in the event of the address of any such holder not so appearing, then at the last address known to the Company of such holder. Accidental failure to give any such notice, notice of redemption or other communication to one or more holders of preference shares shall not affect the validity thereof, but, upon such failure being discovered, a copy of the notice, notice of redemption or other communication, as the case may be, shall be sent or delivered forthwith to such holder or holders. Unless otherwise provided herein, any notice, certificate or other communication from a holder of preference shares herein provided for shall be either sent to the Company by ordinary unregistered mail, postage prepaid, or delivered by hand to the Company, at its registered office. Any notice or other communication, including without limitation a notice of redemption or request for redemption, from the Company to the holders of the preference shares or from a holder of preference shares to the Company may be waived.
Liquidation, Dissolution or Winding. Upon any liquidation, dissolution or winding up of the Corporation, no distribution shall be made (1) to the holders of shares of stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the Series B Preferred Stock unless, prior thereto, the holders of shares of Series B Preferred Stock shall have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not declared, to the date of such payment, provided that the holders of shares of Series B Preferred Stock shall be entitled to receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 100 times the aggregate amount to be distributed per share to holders of shares of Common Stock, or (2) to the holders of shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series B Preferred Stock, except distributions made ratably on the Series B Preferred Stock and all such parity stock in proportion to the total amounts to which the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event the Corporation shall at any time declare or pay any dividend on the Common Stock payable in shares of Common Stock, or effect a subdivision or combination or consolidation of the outstanding shares of Common Stock (by reclassification or otherwise than by payment of a dividend in shares of Common Stock) into a greater or lesser number of shares of Common Stock, then in each such case the aggregate amount to which holders of shares of Series B Preferred Stock were entitled immediately prior to such event under the proviso in clause (1) of the preceding sentence shall be adjusted by multiplying such amount by a fraction the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event.
Liquidation, Dissolution or Winding. UP In the event of liquidation, dissolution or winding-up of the Corporation among its shareholders for the purpose of winding-up its affairs, the holders of the Series 1 Shares shall be entitled to receive for each such share a sum equivalent to the result obtained when the stated capital account for the Series 1 Shares is divided by the number of issued and outstanding Series 1 Shares, together with all unpaid cumulative dividends, before any amount shall be paid or any property or assets of the Corporation distributed to the holders of any Class A subordinate voting shares, the Class B multiple voting shares, or shares of any other class ranking junior to the Series 1 Shares. After payment to the holders of the Series 1 Shares of the amount so payable to them as above provided they shall not be entitled to share in any further distribution of the property or assets of the Corporation.
Liquidation, Dissolution or Winding. Up In the event of the liquidation, dissolution or winding-up of the corporation or other distribution of assets of the corporation among shareholders for the purpose of winding-up its affairs, the holders of the Class A shares, as a class, shall be entitled to receive from the assets of the corporation a sum equivalent to the lesser of (a) 20% of the Net Profits of the corporation (as defined in subclause 3(c) hereof) for the period commencing at the end of the last completed financial year of the corporation and ending on the date of the distribution of assets of the corporation to its shareholders together with 20% of the Net Profits of the corporation (as defined in subclause 3(c) hereof) for the last completed financial year less any amounts of said net profits received by the holders of the Class A shares pursuant to subclause 3(c) hereof and (b) the aggregate Redemption Amount (as defined in subclause 3(a) hereof) of all the Class A shares then outstanding before any amount shall be paid or any property or assets of the corporation distributed to the holders of the Common Shares of the corporation. After payment to the holders of the Class A shares of the amount so payable to them as above provided they shall not be entitled to share in any further distribution of the assets or property of the corporation; In the event of the liquidation, dissolution or winding-up of the corporation or other distribution of assets of the corporation among shareholders for the purpose of winding-up its affairs, subject to the prior rights of the holders of the Class A shares, the holders of the Common Shares shall be entitled to receive the remaining property and assets of the corporation.
Liquidation, Dissolution or Winding. Up The holders of Butterfly Shares shall be entitled to receive from the assets of the Corporation an amount equal to the Aggregate Redemption Amount for all of the Butterfly Shares before any amount shall be paid or any assets of the Corporation distributed upon any liquidation, dissolution or winding-up of the Corporation to the holders of Common Shares, Preference Shares or any other shares of the Corporation. After payment to the holders of Butterfly Shares of the amount so payable to them such holders shall not be entitled to share in any further distribution of the assets of the Corporation.
Liquidation, Dissolution or Winding. UP In the event of any dissolution, liquidation or winding-up of the Company or other distribution of the property or assets of the Company, the holders of Series I Shares shall be entitled to receive from the property or assets of the Company an amount equal to the Redemption Amount, together with all declared and unpaid dividends thereon. Subject to the prior rights of any shares of the Company ranking in priority to the Series I Shares, such payment or distribution shall be made prior to the payment of any amount or any amount or distribution of any property or assets of the Company to the holders of Common shares or any other shares ranking junior to the Series I Shares. Upon payment of the holders of record of the Series I Shares on the date of distribution of the amount so payable to them, such holders shall not be entitled to share in any further distribution of the property or assets of the Company.
Liquidation, Dissolution or Winding. Up In the event of the liquidation, dissolution or winding up of the Company, whether voluntary or involuntary, or in the event of any other distribution of property or assets of the Company among its shareholders for the purpose of winding up its affairs, the holders of the common shares shall be entitled to receive all of the property and assets of the Company remaining after payment to the holders of shares of any other class of shares of the Company ranking senior to the common shares with respect to priority in the distribution of property or assets on such liquidation, dissolution, winding up or other distribution, as the case may be, of the amounts to which the holders of such shares are entitled. 3. Voting Rights The holders of the common shares shall be entitled to receive notice of, attend at and vote at any and all meetings of the shareholders of the Company, except meetings at which only the holders of a class other than the common shares or the holders of one or more series of shares other than the common shares are entitled to vote, and shall be entitled to one vote at such meetings in respect of each common share held.
