Dividend Junior Stock definition

Dividend Junior Stock means any class or series of the Company’s stock whose terms do not expressly provide that such class or series will rank senior to, or equally with, the Convertible Preferred Stock with respect to the payment of dividends (without regard to whether or not dividends accumulate cumulatively). Dividend Junior Stock includes the Common Stock. For the avoidance of doubt, Dividend Junior Stock will not include any securities of the Company’s Subsidiaries.

Dividend Junior Stock means any class or series of the Company’s stock, the terms of which would result in such class or series ranking junior to the Convertible Preferred Stock with respect to the payment of dividends (without regard to whether or not dividends accumulate cumulatively). Dividend Junior Stock includes the Common Stock. For the avoidance of doubt, Dividend Junior Stock will not include any securities of the Company’s Subsidiaries.

Dividend Junior Stock means the Common Stock or any class or series of stock of the Corporation that ranks junior to Series E in the payment of current dividends.

Examples of Dividend Junior Stock in a sentence

• Subject to the foregoing and subject to Section 4(b), the Corporation may pay such dividends (payable in cash, stock or otherwise) as may be declared by the Board of Directors on any Dividend Junior Stock from time to time out of any funds legally available therefor.

• For the avoidance of doubt, the declaration and payment of a dividend or making of any Distribution on any Dividend Junior Stock in which Holders shall participate pursuant to Section 4(b) in accordance with the foregoing proviso shall not obligate the Corporation to pay any Preference Dividends pursuant to Section 4(a).

• The term "Dividend Junior Stock" with respect to Series D Stock shall mean the Participating Stock and all other stock of the Corporation ranking junior thereto as to the payment of dividends.

• Notwithstanding anything in this Certificate of Designations to the contrary, the Corporation may repurchase, redeem or otherwise acquire Dividend Junior Stock in exchange for Dividend Junior Stock and Dividend Parity Stock in exchange for Dividend Parity Stock or Dividend Junior Stock.

• Subject to the foregoing, and not otherwise, such dividends (payable in cash, stock or otherwise) as may be determined by the Board of Directors or a duly authorized committee thereof may be declared and paid on any Dividend Junior Stock from time to time out of any funds legally available therefor, and the shares of Series I shall not be entitled to participate in any such dividend.

More Definitions of Dividend Junior Stock

Dividend Junior Stock means the Common Stock and any other class or series of capital stock of the Corporation over which Series B Preferred Stock has preference or priority in the payment of current dividends.

Dividend Junior Stock means the Common Stock and any other outstanding series of Preferred Stock provided for or fixed pursuant to the provisions of the certificate of incorporation of the Corporation ranking junior to the Series B Preferred Stock as to dividends.

Dividend Junior Stock means, at any time after the Mandatory Conversion Date, any outstanding series of Preferred Stock provided for or fixed pursuant to the provisions of the Certificate of Incorporation raking junior to the Series 1 Preferred Stock as to dividends.

Dividend Junior Stock has the meaning set forth in Section 4(c).

Dividend Junior Stock shall have the meaning set forth in paragraph (d) of Section (3).

Dividend Junior Stock means any class or series of the Company's stock whose terms do not expressly provide that such class or series will rank senior to, or equally with, the Convertible Preferred Stock with respect to the payment of dividends (without regard to whether or not dividends accumulate cumulatively). The Common Stock is the only Dividend Junior Stock outstanding as of the Initial Issue Date.

Dividend Junior Stock is defined in Section 5(a).