Initial Liquidation Preference definition
Examples of Initial Liquidation Preference in a sentence
Regular Dividends on each share of Convertible Preferred Stock will accrue on the Liquidation Preference of such share as of immediately before the Close of Business on the preceding Regular Dividend Payment Date (or, if there is no preceding Regular Dividend Payment Date, on the Initial Liquidation Preference of such share).
Notwithstanding anything to the contrary above, if Available Cash is derived from a transaction that occurs in connection with the dissolution, termination and liquidation of the Company, any Available Cash that is derived from or attributable to such a transaction shall be distributed to the Members in accordance with Section 13.3. For purposes of this Agreement, the Capital Contributions in respect of Series C Preferred Units shall be deemed to be their Initial Liquidation Preference.
Each Series B Convertible Preferred Unit shall have an Initial Liquidation Preference equal to $1,000.
Each Series C Preferred Unit shall have an Initial Liquidation Preference equal to $1,000.
Each Series A Preferred Unit shall have an Initial Liquidation Preference equal to $1,000.