Common use of Participating Dividends Clause in Contracts

Participating Dividends. (i) Each holder of issued and outstanding Series A Preferred Stock will be entitled to receive, when, as and if declared by the Board, out of funds legally available for the payment of dividends for each share of Series A Preferred Stock, dividends of the same type as any dividends or other distribution, whether in cash, in kind or in other property, payable or to be made on outstanding shares of Common Stock, in an amount equal to the amount of such dividends or other distribution as would be made on the number of shares of Common Stock into which such share of Series A Preferred Stock could be converted on the applicable record date for such dividends or other distribution on the Common Stock, without giving effect to the limitations set forth in SECTION 5(b) (the “Participating Dividends”); provided, however, that notwithstanding the above, the holders of Series A Preferred Stock shall not be entitled to receive any dividends or distributions for which an adjustment to the Conversion Price shall be made pursuant to SECTION 5(f)(i)(A) or SECTION 5(f)(ii) (and such dividends or distributions that are not payable to the holders of Series A Preferred Stock as a result of this proviso shall not be deemed to be Participating Dividends).

Appears in 2 contracts

Samples: Registration Rights Agreement (Power One Inc), Agreement and Plan of Reorganization (Power One Inc)

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Participating Dividends. (i) Each holder of issued and outstanding Series A Preferred Stock Convertible Preference Shares will be entitled to receive, when, as and if declared by the BoardBoard of Directors, out of funds legally available for the payment of dividends for each share of Series A Preferred StockConvertible Preference Share, dividends of the same type as any dividends or other distribution, whether in cash, in kind or in other property, payable or to be made on outstanding shares Class A Subordinate Voting Shares of Common Stockthe Corporation (the “Class A Shares”), in an amount equal to the amount of such dividends or other distribution as would be made on the number of shares of Common Stock Class A Shares into which such share of Series A Preferred Stock Convertible Preference Shares could be converted on the applicable record date for such dividends or other distribution on the Common StockClass A Shares, without giving effect to the limitations set forth in SECTION 5(b) after aggregating all shares held by the same holder (the “Participating Dividends”)) and disregarding any rounding for fractional amounts; provided, however, that notwithstanding the above, the holders of Series A Preferred Stock Convertible Preference Shares shall not be entitled to receive any dividends or distributions for which an adjustment to the Conversion Price (as defined below) shall be made pursuant to SECTION 5(f)(i)(A) or SECTION 5(f)(ii) (and such dividends or distributions that are not payable to the holders of Series A Preferred Stock Convertible Preference Shares as a result of this proviso shall not be deemed to be Participating Dividends).

Appears in 2 contracts

Samples: Securities Purchase Agreement (MDC Partners Inc), Securities Purchase Agreement (MDC Partners Inc)

Participating Dividends. (i) Each holder of issued and outstanding Series A 6 Preferred Stock Shares will be entitled to receive, when, as and if declared by the BoardBoard of Directors, out of funds legally available for the payment of dividends for each share of Series A 6 Preferred StockShare, dividends of the same type as any dividends or other distribution, whether in cash, in kind or in other property, payable or to be made on outstanding shares Class A Subordinate Voting Shares of Common Stockthe Corporation (the “Class A Shares”), in an amount equal to the amount of such dividends or other distribution as would be made on the number of shares of Common Stock Class A Shares into which such share of Series A 6 Preferred Stock Shares could be converted on the applicable record date for such dividends or other distribution on the Common StockClass A Shares, without giving effect to the limitations set forth in SECTION 5(b6(b) after aggregating all shares held by the same holder (the “Participating Dividends”)) and disregarding any rounding for fractional amounts; provided, however, that notwithstanding the above, the holders of Series A 6 Preferred Stock Shares shall not be entitled to receive any dividends or distributions for which an adjustment to the Conversion Price (as defined below) shall be made pursuant to SECTION 5(f)(i)(A6(f)(i)(A) or SECTION 5(f)(ii6(f)(ii) (and such dividends or distributions that are not payable to the holders of Series A 6 Preferred Stock Shares as a result of this proviso shall not be deemed to be Participating Dividends).

Appears in 1 contract

Samples: Letter Agreement (MDC Partners Inc)

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Participating Dividends. (i) Each holder of issued and outstanding shares of Series A 8 Convertible Preferred Stock (the “Series 8 Convertible Preferred Shares”) will be entitled to receive, when, as and if declared by the BoardBoard of Directors, out of funds legally available for the payment of dividends for each share of Series A 8 Convertible Preferred StockShare, dividends of the same type as any dividends or other distribution, whether in cash, in kind or in other property, payable or to be made on outstanding shares of Class A Common StockStock of the Corporation (the “Class A Shares”), in an amount equal to the amount of such dividends or other distribution as would be made on the number of shares of Common Stock Class A Shares into which such share of Series A 8 Convertible Preferred Stock Shares could be converted on the applicable record date for such dividends or other distribution on the Common StockClass A Shares, without giving effect to the limitations set forth in SECTION 5(b6(b) after aggregating all shares held by the same holder (the “Participating Dividends”)) and disregarding any rounding for fractional amounts; provided, however, that notwithstanding the above, the holders of Series A 8 Convertible Preferred Stock Shares shall not be entitled to receive any dividends or distributions for which an adjustment to the Conversion Price (as defined below) shall be made pursuant to SECTION 5(f)(i)(A6(f)(i)(A) or SECTION 5(f)(ii6(f)(ii) (and such dividends or distributions that are not payable to the holders of Series A 8 Convertible Preferred Stock Shares as a result of this proviso shall not be deemed to be Participating Dividends).

Appears in 1 contract

Samples: Securities Purchase Agreement (MDC Partners Inc)

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