Common use of Preferred Dividends Clause in Contracts

Preferred Dividends. Holders of the Company Preferred Securities shall be entitled to receive, out of funds held by the Company to the extent that the Company has cash on hand sufficient to permit such payments and funds legally available therefor, distributions (the "PREFERRED DIVIDENDS") at a rate of ___% per annum (the "PREFERRED RATE") of the Liquidation Preference of the Company Preferred Securities. Preferred Dividends shall be cumulative, and will accumulate whether or not there are funds of the Company available for their payment. Preferred Dividends shall accrue from __________and, except as provided below, shall be payable quarterly in arrears on ___________, ___________, ___________ and ___________ of each year, commencing on ___________, 20__, and ending on _________, ____. Each such date of payment is a "DIVIDEND PAYMENT DATE" and each period from and including a Dividend Payment Date, or the date of initial issuance as applicable, to but not including the next Dividend Payment Date, is a "DIVIDEND PERIOD"; provided, however, that if any Dividend Payment Date is not a business day, dividends will be payable on the next business day (and without any interest or other payment in respect of any such delay) except that, if such business day is in the next succeeding calendar year, payment of such Preferred Dividend shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Preferred Dividends shall accrue on a daily accrual basis on the basis of a 360-day year of twelve 30-day months. Preferred Dividends in arrears will accumulate and compound quarterly at the Preferred Rate.

Preferred Dividends. Holders The holders of the Company Preferred Securities Shares (each, a "Holder" and collectively, the "Holders") shall be entitled to receivereceive cumulative dividends ("Dividends") at the Dividend Rate payable on the Liquidation Preference of such Preferred Shares as of the applicable Dividend Date (or, for the initial Dividend Period, as of the Initial Issuance Date). Dividends on the Preferred Shares shall commence accruing on the Initial Issuance Date and shall be computed on the basis of a 365-day year and actual days elapsed. Dividends shall be payable in arrears on January 1, April 1, July 1, and October 1 (each, a "Dividend Date" and each such quarterly period (or shorter period in the case of the first such period following the Initial Issuance Date) being a "Dividend Period") with the first Dividend Date being [ ], 20[ ]. If a Dividend Date is not a Business Day, then the Dividend shall be payable on the Business Day immediately following such Dividend Date. At the Company's option, dividends may be declared and paid in cash out of funds held by the Company to the extent that the Company has cash on hand sufficient to permit such payments and funds legally available therefor, distributions (when, as and if declared by the "PREFERRED DIVIDENDS") at a rate of ___% per annum (Company; provided that if Dividends are not declared and paid in cash on any Dividend Date for the "PREFERRED RATE") of immediately preceding Dividend Period, then such Dividend shall automatically accrue and be added to the Liquidation Preference as of the Company Preferred Securities. Preferred Dividends shall be cumulativesuch Dividend Date, and will accumulate whether or not declared by the Board and whether or not in any Dividend Period or Periods there are shall be funds of the Company legally available for their paymentthe payment of such Dividends. Preferred Dividends shall accrue from __________and, except as provided below, shall be payable quarterly in arrears on ___________, ___________, ___________ and ___________ of On each year, commencing on ___________, 20__, and ending on _________, ____. Each such date of payment is a "DIVIDEND PAYMENT DATE" and each period from and including a Dividend Payment Date, if the Company does not have current or accumulated "earnings and profits" within the date meaning of initial issuance Sections 301 and 312 of the Internal Revenue Code of 1986, as applicableamended, to but not including the next through such Dividend Payment Date, is a "DIVIDEND PERIOD"; provided, however, that if the Company shall not withhold any amount of the applicable Dividend Payment Date is not a business day, dividends will be payable on the next business day (and without any interest or other payment in respect of any such delay) except that, if such business day is in the next succeeding calendar year, payment of such Preferred Dividend shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Preferred Dividends shall accrue on a daily accrual basis on the basis of a 360-day year of twelve 30-day months. Preferred Dividends in arrears will accumulate and compound quarterly at the Preferred RateU.S. federal income tax.

Preferred Dividends. Holders of the Company LLC Preferred Securities shall be entitled to receive, out of funds held by the Company LLC to the extent that the Company LLC has cash on hand sufficient to permit such payments and funds legally available therefor, distributions (the "PREFERRED DIVIDENDS") at a rate of ___5.11% per annum (the "PREFERRED RATE") of the Liquidation Preference of the Company LLC Preferred Securities. The Preferred Rate shall be adjusted at the time the interest rate paid on the Subordinated Notes is reset pursuant to Section 205(b) of the Supplemental Indenture and shall thereafter be equal to the Reset Rate as defined therein. Preferred Dividends shall be cumulative, and will accumulate whether or not there are funds of the Company LLC available for their payment. Preferred Dividends shall accrue from __________January 15, 2002 and, except as provided below, shall be payable quarterly in arrears on ___________January 15, ___________April 15, ___________ July 15 and ___________ October 15 of each year, commencing on ___________April 15, 20__2002, and ending on _________January 15, ____2007. Each such date of payment is a "DIVIDEND PAYMENT DATE" and each period from and including a Dividend Payment Date, or the date of initial issuance as applicable, to but not including the next Dividend Payment Date, is a "DIVIDEND PERIOD"; provided, however, that if any Dividend Payment Date is not a business day, dividends will be payable on the next business day (and without any interest or other payment in respect of any such delay) except that, if such business day is in the next succeeding calendar year, payment of such Preferred Dividend shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Preferred Dividends shall accrue on a daily accrual basis on the basis of a 360-day year of twelve 30-day months. Preferred Dividends in arrears will accumulate and compound quarterly at the Preferred Rate.

Preferred Dividends. Holders The holders of the Company Preferred Securities Shares (each, a “Holder” and collectively, the “Holders”) shall be entitled to receivereceive cumulative dividends (“Dividends”) at the Dividend Rate payable on the Liquidation Preference of such Preferred Shares as of the applicable Dividend Date (or, for the initial Dividend Period, as of the Initial Issuance Date). Dividends on the Preferred Shares shall commence accruing on the Initial Issuance Date and shall be computed on the basis of a 365-day year and actual days elapsed. Dividends shall be payable in arrears on January 1, April 1, July 1, and October 1 (each, a “Dividend Date” and each such quarterly period (or shorter period in the case of the first such period following the Initial Issuance Date) being a “Dividend Period”) with the first Dividend Date being [ ], 20[ ]. If a Dividend Date is not a Business Day, then the Dividend shall be payable on the Business Day immediately following such Dividend Date. At the Company’s option, dividends may be declared and paid in cash out of funds held by the Company to the extent that the Company has cash on hand sufficient to permit such payments and funds legally available therefor, distributions (when, as and if declared by the "PREFERRED DIVIDENDS") at a rate of ___% per annum (Company; provided that if Dividends are not declared and paid in cash on any Dividend Date for the "PREFERRED RATE") of immediately preceding Dividend Period, then such Dividend shall automatically accrue and be added to the Liquidation Preference as of the Company Preferred Securities. Preferred Dividends shall be cumulativesuch Dividend Date, and will accumulate whether or not declared by the Board and whether or not in any Dividend Period or Periods there are shall be funds of the Company legally available for their paymentthe payment of such Dividends. Preferred Dividends shall accrue from __________and, except as provided below, shall be payable quarterly in arrears on ___________, ___________, ___________ and ___________ of On each year, commencing on ___________, 20__, and ending on _________, ____. Each such date of payment is a "DIVIDEND PAYMENT DATE" and each period from and including a Dividend Payment Date, if the Company does not have current or accumulated “earnings and profits” within the date meaning of initial issuance Sections 301 and 312 of the Internal Revenue Code of 1986, as applicableamended, to but not including the next through such Dividend Payment Date, is a "DIVIDEND PERIOD"; provided, however, that if the Company shall not withhold any amount of the applicable Dividend Payment Date is not a business day, dividends will be payable on the next business day (and without any interest or other payment in respect of any such delay) except that, if such business day is in the next succeeding calendar year, payment of such Preferred Dividend shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Preferred Dividends shall accrue on a daily accrual basis on the basis of a 360-day year of twelve 30-day months. Preferred Dividends in arrears will accumulate and compound quarterly at the Preferred RateU.S. federal income tax.

Preferred Dividends. Holders of Subject to Section 9.1(d), the Company Preferred Securities Members shall be entitled to receive, out of funds held by the Company receive cumulative cash Dividends for each Dividend Period equal to the extent sum of (a) Union Bank of Switzerland's three-month London interbank offered rate, reset quarterly, plus (b) a spread equal to (i) 300 basis points for the period from the Closing Date to but excluding December 31, 1997, (ii) 400 basis points for the period from December 31, 1997, to but excluding March 31, 1998, (iii) 500 basis points for the period from March 31, 1998, to but excluding June 30, 1998, (iv) 000 xxxxx xxxxxx xxr the period from June 30, 1998, to but excluding September 30, 1998, and (v) 700 basis points at all times from and after September 30, 1998, provided, however, that upon the Company has cash on hand sufficient to permit such payments occurrence and funds legally available thereforduring the continuance of an Event of Default, distributions the spread otherwise applicable under this clause (the "PREFERRED DIVIDENDS"c) at a rate of ___% per annum (the "PREFERRED RATE") of the Liquidation Preference of the Company Preferred Securitiesshall increase by 100 basis points. Preferred Dividends shall be cumulativepayable quarterly in arrears on the last day of each Dividend Period of each year, commencing on the initial Dividend Payment Date of December 31, 1997 to the Holder of record as of the tenth (10th) Business Day preceding (each, a "Record Date"). Dividends shall accrue and will accumulate be cumulative whether or not they have been earned or declared and whether or not there are funds of the Company legally available for their paymentthe payment of Dividends. Dividends on the Preferred Dividends shall accrue from __________and, except as provided below, shall Interests must be payable quarterly in arrears declared for each Dividend Period and be paid on ___________, ___________, ___________ and ___________ of each year, commencing on ___________, 20__, and ending on _________, ____. Each such date of payment is a "DIVIDEND PAYMENT DATE" and each period from and including a Dividend Payment Date, or the date of initial issuance as applicable, to but not including the next Dividend Payment Date, is a "DIVIDEND PERIOD"; provided, however, that if any Dividend Payment Date is to the extent that the Company has, in the Collection Account, on such date, (x) funds legally available for the payment of such Dividends and (y) cash on hand sufficient to make such payments, it being understood that to the extent that funds are not a business dayavailable to pay in full all accumulated and unpaid Dividends, dividends will be the Company may pay partial Dividends to the extent of funds legally available therefor. Dividends payable on the next business day (and without any interest or other payment in respect of any such delay) except that, if such business day is in the next succeeding calendar year, payment of such Preferred Dividend shall Interests will be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Preferred Dividends shall accrue on a daily accrual basis computed on the basis of a 360-day year of twelve 30-day months. Preferred and actual days elapsed occurring in the period with respect to which such Dividends in arrears will accumulate and compound quarterly at the Preferred Rateare payable.

Preferred Dividends. Holders of the Company Preferred Securities shall be entitled to receive, out of funds held by the Company to the extent that the Company has cash on hand sufficient to permit such payments and funds legally available therefor, distributions (the "PREFERRED DIVIDENDS") at a rate of ___8.50% per annum (the "PREFERRED RATE") of the Liquidation Preference of the Company Preferred Securities. Preferred Dividends shall be cumulative, and will accumulate whether or not there are funds of the Company available for their payment. Preferred Dividends shall accrue from __________December 20, 2000 and, except as provided below, shall be payable quarterly in arrears on ___________January 31, ___________April 30, ___________ July 31 and ___________ October 31 of each year, commencing on ___________January 31, 20__2001, and ending on _________January 31, ____2041. Each such date of payment is a "DIVIDEND PAYMENT DATE" and each period from and including a Dividend Payment Date, or the date of initial issuance as applicable, to but not including the next Dividend Payment Date, is a "DIVIDEND PERIOD"; provided, however, that if any Dividend Payment Date is not a business day, dividends will be payable on the next business day (and without any interest or other payment in respect of any such delay) except that, if such business day is in the next succeeding calendar year, payment of such Preferred Dividend shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date. Preferred Dividends shall accrue on a daily accrual basis on the basis of a 360-day year of twelve 30-day months. Preferred Dividends in arrears will accumulate and compound quarterly at the Preferred Rate.

Preferred Dividends. Holders (a) The holders of the Company Series A Preferred Securities Shares shall be entitled to receive, when, as and if declared by the Board of Directors, out of funds held by of the Company to the extent that the Company has cash on hand sufficient to permit such payments and funds Corporation legally available therefor, distributions cash dividends (the "PREFERRED DIVIDENDSPreferred Dividends") at a the annual rate of ___% $2.196 per annum (the "PREFERRED RATE") of the Liquidation Preference of the Company Preferred Securities. Preferred Dividends shall be cumulativeshare, and will accumulate whether or not there are funds of the Company available for their payment. Preferred Dividends shall accrue from __________and, except as provided below, shall be payable quarterly in arrears on ___________each March 15, ___________June 15, ___________ September 15 and ___________ of December 15 in each year, commencing on ___________, 20__, and ending on _________, ____. Each such date of payment is year (each a "DIVIDEND PAYMENT DATE" and each period from and including a Dividend Payment Date"), or commencing March 15, 1997 (and, in the case of any accrued but unpaid dividends, at such additional times and for such interim periods, if any, as determined by the Corporation's Board of Directors). In the event that any Dividend Payment Date shall fall on any day other than a Business Day (as defined in paragraph (b) of Section 4.4.3), the Preferred Dividend due on such Dividend Payment Date shall be paid on the Business Day immediately following such Dividend Payment Date. Preferred Dividends shall begin to accrue from the date of initial issuance as applicable, of the Series A Preferred Shares. Preferred Dividends will cease to but not including the next Dividend Payment Date, is a "DIVIDEND PERIOD"; provided, however, that if any Dividend Payment Date is not a business day, dividends will be payable accrue on Series A Preferred Shares on the next business day Conversion Date (and without any interest as defined in paragraph (b) of Section 4.4.3) or other payment in respect of any such delay) except that, if such business day is in the next succeeding calendar year, payment of such Preferred Dividend shall be made on the immediately preceding Business Day, date of their earlier exchange for Convertible Notes (as defined in each case with the same force and effect as if made on such dateparagraph (a) of Section 4.4.5). Preferred Dividends shall accrue on a daily accrual basis whether or not in any such quarterly period there shall be funds of the Corporation legally available therefor and whether or not such Preferred Dividends are declared, but Preferred Dividends accrued for any period less than a full quarterly period between Dividend Payment Dates (or, in the case of the first Preferred Dividend, from the date of initial issuance of the Series A Preferred Shares through the first Dividend Payment Date) shall be computed on the basis of a 360-day year consisting of twelve 30-day months. Accrued but unpaid Preferred Dividends in arrears will accumulate and compound quarterly at shall cumulate as of the Dividend Payment Date on which they first become payable, but no interest shall accrue on accumulated but unpaid Preferred RateDividends. Preferred Dividends shall be payable to holders of record as they appear on the stock transfer records of the Corporation on such record dates, which shall be not more than 60 days nor less than 10 days preceding the payment dates, as shall be fixed by the Board of Directors.