Common Equivalent Rate definition

Common Equivalent Rate means, with respect to any Dividend Period, the quotient of (a) the product of (i) all dividends declared during such Dividend Period with respect to a share of Common Stock, (ii) four and (iii) the number of shares of Common Stock issuable upon conversion of a share of Series H Preferred Stock on the last day of such Dividend Period, divided by (b) the Liquidation Preference of a share of Series H Preferred Stock on the first day of such Dividend Period.
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Common Equivalent Rate means, with respect to any fiscal quarter of the Corporation, the quotient of (i) the product of (a) all ordinary cash dividends (specifically excluding any extraordinary dividends or distributions) declared during such fiscal quarter with respect to a share of Common Stock, (b) four and (c) the number of shares of Common Stock issuable upon conversion of a share of Preferred Stock on the first day of such fiscal quarter, divided by (ii) the Preference Amount of a share of Preferred Stock on the first day of such fiscal quarter.
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Common Equivalent Rate means a ratio initially equal to one share of Common Stock for one share of Series A Preferred Stock and subject thereafter to adjustment as provided in Section 7.1.
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Examples of Common Equivalent Rate in a sentence

  • The Common Equivalent Rate shall be subject to adjustment from time to time as provided herein, but all adjustments to the Common Equivalent Rate shall be calculated to the nearest one one-hundredth of a share of Common Stock.

  • To the extent that shares of the Common Stock are not delivered after the expiration of such rights or warrants, the Common Equivalent Rate shall be readjusted to the Common Equivalent Rate which would then be in effect had the adjustments made upon the distribution of such rights or warrants been made upon the basis of delivery of only the number of shares of the Common Stock actually delivered.

  • The "Common Equivalent Rate" shall initially be one share of Common Stock for each share of 7% Preferred Stock and shall be subject to adjustment as set forth in paragraphs (d) and (e) of this Section 3.

  • On the date fixed for such exchange by the Board (the "Exchange Date"), the Company shall deliver to the holders of the AR Preferred Stock, in exchange for each share of AR Preferred Stock (i) the number of shares of Common Stock equal to the Common Equivalent Rate in effect on the Exchange Date, plus (ii) an amount in cash equal to all accrued and unpaid dividends on such shares of AR Preferred Stock up to but excluding the Exchange Date.


More Definitions of Common Equivalent Rate

Common Equivalent Rate means, with respect to any Dividend Period, (i) the product of (a) four, and (b) the amount of dividends that the holder of one share of Preferred Stock would have been entitled to receive if such holder had converted (assuming the Stockholder Approval had been obtained) such share into shares of Common Stock on the first day of such Dividend Period, divided
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Common Equivalent Rate means the Common Equivalent Rate in effect at any time as determined below.
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