Dividend Election definition

Dividend Election has the meaning set out in Clause G8.3.

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Dividend Election means the election of a Participant or Beneficiary in accordance with Section 15.2 that cash dividends on L3 Stock paid to the Participant’s or Beneficiary’s ESOP Account are either: (a) distributed in cash to the Participant or Beneficiary no later than 90 days after the last day of the Plan Year in which the dividend is paid; or (b) reinvested in the L3 Stock Fund allocated to the Participant’s or Beneficiary’s ESOP Account.

Dividend Election has the meaning set forth in the Articles of Incorporation, as of the date hereof.

Examples of Dividend Election in a sentence

• If no election is received on or prior to the Dividend Election Date, the Corporation shall have the right to elect the form of payment for such holders.

• The Dividend Notice shall include a cash or stock dividend payment election form to be completed and returned by the holder on or prior to the specified dividend election date, which shall be no less than 10 days after the mailing of the Dividend Notice by the Corporation (the "Dividend Election Date").

• If an Equity Conditions Failure has occurred as of the Dividend Notice Date, then unless the Company has elected to effect a Capitalized Dividend, the Dividend Election Notice shall indicate that unless such applicable Holder waives the Equity Conditions Failure, the Dividend shall be effected as a Capitalized Dividend.

• If the Company fails to pay a Cash Dividend in respect of any fiscal quarter ending on or prior to December 31, 2017 and does not make a Non-Cash Dividend Election in respect thereof, the Company shall be deemed to have made a Non-Cash Dividend Election for all purposes of this Certificate of Designations.

• In the event that holders of the majority of the Series A Preferred Stock do not make a Dividend Election prior to the expiration of the Final Dividend Election Period, the rights granted to the holders of the Series A Preferred Stock pursuant to Paragraphs 1G(a)-(i) and (k) shall terminate and have no further force or effect upon the expiration of the Final Dividend Election Period.

• DBS ▇▇▇▇▇▇▇ will not be obliged to notify the Customer of any Dividend Election.

• Upon the written request of any holder of Common Stock or Series A Preferred Stock if a Dividend Election has not been made, the Company shall cooperate with and assist such holder or any member of the National Association of Securities Dealers, Inc.

• If the Company fails to pay a Cash Dividend in respect of any fiscal quarter and does not make an affirmative Non-Cash Dividend Election in respect thereof, the Company shall be deemed to have made a Non-Cash Dividend Election for all purposes of this Certificate of Designations.

• If an Equity Conditions Failure has occurred as of the Dividends Notice Date, then unless the Company has elected to pay such Dividends as Cash Dividends, the Dividend Election Notice shall indicate that unless the applicable Holder waives the Equity Conditions Failure, the Dividends of the Preferred Shares of such Holder shall be capitalized hereunder and, as of such Dividend Date, shall increase the Stated Value of the Preferred Shares of such Holder on a dollar-for-dollar basis.

More Definitions of Dividend Election

Dividend Election means the delivery by the holders of a majority of the outstanding shares of Series A Preferred Stock of a notice to the Corporation of an election to begin accruing dividends on the shares of Series A Preferred Stock. Such election may only be given during a Dividend Election Period, may not be revoked and shall be binding on all holders of Series A Preferred Stock.