Common use of Preference Stock Clause in Contracts

Preference Stock. Preference Stock purchasable upon exercise of the Rights will not be redeemable. Each Preference Share will be entitled to a minimum preferential quarterly dividend payment of $1 per share but will be entitled to an aggregate dividend of 100 times the dividend declared per Common Share. In the event of liquidation, the holders of the Preference Stock will be entitled to a minimum preferential liquidation payment of $100 per share but will be entitled to an aggregate payment of 100 times the payment made per Common Share. Each Preference Share will have 100 votes, voting together with the Common Shares. Finally, in the event of any merger, consolidation or other transaction in which Common Shares are exchanged, each Preference Share will be entitled to receive 100 times the amount received per Common Share. These rights are protected by customary antidilution provisions. The value of the one one-hundredth interest in a Preference Share purchasable upon exercise of each Right should, because of the nature of the Preference Stock' dividend, liquidation and voting rights, approximate the value of one Common Share.

Preference Stock. Preference Stock purchasable upon exercise of the Rights will not be redeemable. Each Preference Share Stock will be entitled to a minimum preferential quarterly dividend payment of $1 per share but will be entitled to an aggregate dividend of 100 times the dividend declared per Common Share. In the event of liquidation, the holders of the Preference Stock will be entitled to a minimum preferential liquidation payment of $100 per share but will be entitled to an aggregate payment of 100 times the payment made per Common Share. Each Preference Share Stock will have 100 votes, voting together with the Common Shares. Finally, in the event of any merger, consolidation or other transaction in which Common Shares are exchanged, each Preference Share Stock will be entitled to receive 100 times the amount received per Common Share. These rights are protected by customary antidilution provisions. The value of the one one-hundredth interest in a share of Preference Share Stock purchasable upon exercise of each Right should, because of the nature of the Preference Stock' Stock dividend, liquidation and voting rights, approximate the value of one Common Share.