Dividend Paid in the Ordinary Course definition

Dividend Paid in the Ordinary Course means a dividend declared payable on the Common Shares in any four consecutive quarters of the Corporation, whether in (1) cash, (2) securities of the Corporation, including rights, options or warrants (other than rights, options or warrants referred to in subsection 4.2(b)) to purchase any securities of the Corporation or property or other assets of the Corporation, or (3) property or other assets of the Corporation, to the extent that the amount or value of such dividend together with the amount or value of all other dividends theretofore paid during such financial year (any such securities, property or other assets so distributed to be valued at the fair market value of such securities, property or other assets, as the case may be, as determined by the Corporation, which determination shall be conclusive, provided that, for the purposes of this definition, the fair market value of any Common Share distributed by way of dividend shall be conclusively determined by reference to the Current Market Price per Common Share on the date prior to the declaration of such dividend) does not exceed the greater of:

Dividend Paid in the Ordinary Course means dividends paid in any financial year of the Company, whether in (i) cash, (ii) shares of the Company, (iii) warrants or similar rights to purchase any shares of the Company or property or other assets of the Company provided that the value of such dividends per outstanding Common Share does not in such financial year exceed in aggregate 5% of the Exercise Price;

Dividend Paid in the Ordinary Course means a dividend paid on the Common Shares in any fiscal year of the Company in cash, provided that the aggregate amount of such dividends does not in such fiscal year exceed 5% of the Exercise Price, and for such purpose the amount of any dividend paid in shares shall be the aggregate stated capital of such shares, and the amount of any dividend paid in other than cash or shares shall be the fair market value of such dividend as determined by a resolution passed by the Board of Directors of the Company, subject, if applicable, to the prior consent of any stock exchange or any other over-the-counter market on which the Common Shares are traded;

Examples of Dividend Paid in the Ordinary Course in a sentence

• No adjustment in the Exchange Basis shall be made pursuant to section2.12(1) in respect of the issue from time to time of Warrant Shares purchasable on exercise of the Warrants or in respect of the issue from time to time of a Dividend Paid in the Ordinary Course to holders of Common Shares who exercise an option or election to receive substantially equivalent dividends in Common Shares in lieu of receiving a cash dividend, and any such issue shall be deemed not to be a Common Share Reorganization.

• No adjustment in the Exchange Basis or the Exercise Price shall be made pursuant to section 2.13 in respect of (i) the issue from time to time of Warrant Shares purchasable on exercise of the Warrants and any such issue shall be deemed not to be a Subordinate Voting Share Reorganization; (ii) a Dividend Paid in the Ordinary Course; or (iii) a distribution of Subordinate Voting Shares pursuant to the exercise of stock options granted under stock option plans of the Company.

• No adjustment in the SVS Exchange Basis or the SVS Exercise Price shall be made pursuant to section2.15 in respect of (i) the issue from time to time of Subordinate Voting Shares purchasable on exercise of the SVS Warrants and any such issue shall be deemed not to be a Subordinate Voting Share Reorganization; (ii) a Dividend Paid in the Ordinary Course; or (iii) a distribution of Subordinate Voting Shares pursuant to the exercise of stock options granted under stock option plans of the Company.

• No adjustment in the MVS Exchange Basis or the MVS Exercise Price shall be made pursuant to section2.15 in respect of (i) the issue from time to time of Multiple Voting Shares purchasable on exercise of the MVS Warrants and any such issue shall be deemed not to be a Multiple Voting Share Reorganization; (ii) a Dividend Paid in the Ordinary Course; or (iii) a distribution of Multiple Voting Shares pursuant to the exercise of stock options granted under stock option plans of the Company.

• No adjustment in the SVS Exchange Basis or the SVS Exercise Price shall be made pursuant to section2.14 in respect of (i) the issue from time to time of Super Voting Shares purchasable on exercise of the SVS Warrants and any such issue shall be deemed not to be a Super Voting Share Reorganization; (ii) a Dividend Paid in the Ordinary Course; or (iii) a distribution of Super Voting Shares pursuant to the exercise of stock options granted under stock option plans of the Company.

More Definitions of Dividend Paid in the Ordinary Course

Dividend Paid in the Ordinary Course means any dividend paid by the Corporation on the Common Shares (whether in cash, securities, property or other assets), provided that the directors of the Corporation do not by resolution determine that such dividend is extraordinary or otherwise out of the ordinary course having regard to the Corporation’s dividend policy at such time, the value of such dividend, the financial position of the Corporation, economic conditions, business practices and such other factors as the directors of the Corporation may in their discretion consider relevant;

Dividend Paid in the Ordinary Course means any dividend paid by the Borrower on the Common Shares in any fiscal year of the Borrower (whether in cash, securities, property or other assets), provided that the amount of such dividend paid in cash and the value of such dividend paid otherwise than in cash (any securities, property or other assets so distributed as a dividend to be valued at an amount equal to the fair market value thereof as determined by the directors at the times such dividend is declared), plus the aggregate amount or value (as so determined) of all other dividends previously paid by the Borrower on the Common Shares (or on any other shares in the capital of the Borrower ranking with respect to the payment of dividends on a parity with the Common Shares) in such fiscal year, does not exceed the greatest of:

Dividend Paid in the Ordinary Course means a dividend paid on the Common Shares in any financial year of the Corporation, whether in

Dividend Paid in the Ordinary Course means any dividend paid by the Company on the Common Shares (whether in cash, securities, property or other assets), provided that the Directors do not by resolution determine that such dividend is extraordinary or otherwise out of the ordinary course having regard to the Company's dividend policy at such time, the value of such dividend, the effect of such dividend on the market value of the Common Shares after giving effect to the payment thereof, the form of payment of such dividend, the financial position of the Company and its subsidiaries on a consolidated basis, economic conditions, business practices and such other factors as the Directors may in their discretion consider to be relevant; and

Dividend Paid in the Ordinary Course means cash dividends paid in any financial year of the Corporation to the extent that such cash dividends do not exceed, in the aggregate, the greatest of:

Dividend Paid in the Ordinary Course means a dividend paid on the Shares in any financial year of the Corporation, whether in (1) cash, (2) securities of the Corporation, including rights, options or warrants (but excluding rights, options or warrants referred to in paragraph 3.3(b) and rights, options or warrants referred to in parentheses in subparagraph 3.3(c)(iv) to purchase any securities of the Corporation or property or other assets of the Corporation or (3) property or other assets of the Corporation, to the extent that the amount or value of such dividend together with the amount or value of all other dividends theretofore paid during such financial year (any such securities, property or other assets so distributed to be valued at the fair market value of such securities, property or other assets, as the case may be, as determined by the board of directors based on generally accepted accounting principles) does not exceed the greater of:

Dividend Paid in the Ordinary Course means a dividend paid on the Common Shares in any fiscal year of the Company in cash, provided that the aggregate amount of such dividend for each Common Share does not in such fiscal year exceed 5% of the Exercise Price, and for such purpose the amount of any dividend paid in shares shall be the aggregate stated capital of such shares, and the amount of any dividend paid in other than cash or shares shall be the fair market value of such dividend as determined by a resolution passed by the Board of Directors of the Company, subject, if applicable, to the prior consent of any stock exchange or any other over-the-counter market on which the Common Shares are traded;