Dividends Accrued definition
Dividends Accrued means an amount equal to the sum of all dividends required to be paid on the shares of Series A Preferred Stock from the date of issue of the shares of Series A Preferred Stock to the date to which the determination is to be made, whether or not such amount or any part thereof shall have been declared as dividends and whether there shall be or have been any funds out of which such dividends might legally be paid, less the amount of dividends declared and paid and, if any dividends have been declared and set apart for payment but not paid, the amount so set apart for the payment of such dividends. Accrued Dividends for any period less than a full calendar quarter shall be calculated on the basis of the actual number of days elapsed over a 360-day year.
Dividends Accrued means, with respect to the shares of each series of the Preferred Stock an amount equal to the dividends thereon at the annual dividend rate for such series computed from the date of issue to the date to which reference is made, plus any additional amounts provided by participation rights, whether or not such amounts or any part thereof shall have been declared or set aside to be paid and whether there shall be or have been any funds out of which such amounts might legally be paid, less the amount of dividends or participation rights declared and paid thereon.
Dividends Accrued means Full Cumulative Dividends to the date as of which Dividends Accrued are to be computed, less the amount of all dividends paid with respect to the relevant shares.
Examples of Dividends Accrued in a sentence
Immediately after the Effective Time, the Surviving Corporation shall pay in full, pursuant to Section 3.4, the amount set forth on EXHIBIT 2.1(e) in satisfaction of the Accrued Dividends, Accrued Interest and the Broker Fee.
More Definitions of Dividends Accrued
Dividends Accrued and "dividends in arrears," whenever used herein with reference to shares of Series D Preferred Stock shall be deemed to mean an amount which shall be equal to dividends thereon at the Dividend Rate per share from the date or dates on which such dividends commence to accumulate to the end of the then current quarterly dividend period for such Preferred Stock (or, in the case of redemption, to the date of redemption), whether or not earned or declared and whether or not assets for the Company are legally available therefor, and if full dividends are not declared or paid, then such dividends shall cumulate, with additional dividends thereon, compounded quarterly, at the Dividend Rate, for each quarterly period during which such dividends remain unpaid, less the amount of all such dividends paid, or declared in full and sums set aside for the payment thereof, upon such shares of Series D Preferred Stock.
Dividends Accrued and "dividends in arrears," whenever used herein with reference to shares of Series A Preferred Stock shall be deemed to mean an amount which shall be equal to Base Dividends thereon at the Applicable Rate per share from the date or dates on which such dividends commence to accrue to the end of the then current semi-annual dividend period (or, in the case of redemption or conversion, to the effective date of redemption or conversion as provided herein), whether or not earned or declared and whether or not assets of the Company are legally available therefor, and if full dividends are not declared or paid, then such dividends shall cumulate, with additional dividends thereon, compounded semi-annually, at the Applicable Rate, for each semi-annual period during which such dividends remain unpaid. The amount of any Base Dividends per share of Series A Preferred Stock for any full semi-annual period shall be computed by multiplying the Applicable Rate for such semi-annual dividend period by the Liquidation Preference per share and dividing the result by two. Base Dividends payable on the shares of Series A Preferred Stock for any period less than a full semi-annual dividend period shall be computed on the basis of a 360-day year of twelve 30-day months and the actual number of days elapsed for any period less than one month.