Base Dividends definition
Examples of Base Dividends in a sentence
In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the holders of shares of Series A Preferred Stock shall, with respect to each such share of Series A Preferred Stock, be entitled to receive the greater of (a) $5.50 per such share of Series A Preferred Stock, in each case plus an amount equal to any Base Dividends accrued thereon pursuant to Sections 4.3.1.3.1 through 4.3.
Promptly, but in any event, within five (5) Business Days of receipt of such request in writing, the Company shall purchase such Series A Preferred Stock for cash at a purchase price equal to the Liquidation Preference for such shares plus the amount of any declared but unpaid Base Dividends as of such date.
On September 15, 2010 (the "Final Redemption Date"), the Company shall, subject to any limitations or restrictions imposed by law, redeem all shares of Series A Preferred Stock that are then outstanding at a redemption price per share equal to the Liquidation Preference thereof plus an amount equal to any accrued and unpaid Base Dividends as of the Final Redemption Date (the "Final Redemption Price").
If a Dividend Payment Date is not a Business Day, payment of Base Dividends shall be made on the next succeeding Business Day and no additional amount shall accrue in respect thereof as a result of such delayed payment.
The number of shares of Class B Common Stock to which a holder of Series A Preferred Stock shall be entitled upon redemption pursuant to clause (ii) shall be determined by dividing (x) the Liquidation Preference of such Series A Preferred Stock plus the amount of any accrued but unpaid Base Dividends as of the Final Redemption Date by (y) the weighted average closing price of the Class B Common Stock over the 90-day period immediately preceding the Final Redemption Date.
Base Dividends payable on the Series A Preferred Stock with respect to any period other than a full Series A Dividend Period shall be computed on the basis of a 360-day year consisting of twelve 30-day months.
Upon any such election, the Company shall redeem for cash each of such holder’s shares for which such an election is made, to the extent permitted by applicable law, at a redemption price equal to the Liquidation Preference thereof, as of the Change of Control Payment Date plus the amount of any accrued and unpaid Base Dividends.
The cash dividends provided for in this Section 3(a) are hereinafter referred to as "Base Dividends." For purposes hereof, "Business Day" means any day other then a Saturday, Sunday or day on which banking institutions in the State of New York are authorized or required to remain closed.
Upon any such election, the Company shall redeem for cash each of such holder's shares for which such an election is made, to the extent permitted by applicable law, at a redemption price equal to the Liquidation Preference thereof plus the amount of accrued and unpaid Base Dividends thereon as of the Change of Control Payment Date (as defined below) plus the amount of any declared but unpaid Additional Dividends thereon as of the Change of Control Payment Date.
Unless prohibited by the terms of the Senior Facilities Agreement, on [insert date 10 years from Original Issuance Date] (the “Final Redemption Date”), the Company shall redeem for cash all shares of Series A Preferred Stock that are then outstanding at a redemption price per share equal to the Liquidation Preference thereof plus the amount of any accrued and unpaid Base Dividends as of the Final Redemption Date (“Final Redemption Price”).