Examples of Mandatorily Redeemable Preferred Stock in a sentence
Each of the 9.9% Non-Voting Mandatorily Redeemable Preferred Stock, Series A ("9.9% Series A Preferred"), and 9.9% Non-Voting Mandatorily Redeemable Preferred Stock, Series B ("9.9% Series B Preferred"), is a Junior Security.
Any notice or communication by a holder of Mandatorily Redeemable Preferred Stock to the Company is duly given if in writing and delivered in person or mailed by first-class mail to the Company at its address as set forth in its then most recently filed Form 10-K or 10-Q as the case may be.
Any shares of Mandatorily Redeemable Preferred Stock redeemed or otherwise acquired by the Company shall be retired and shall resume the status of authorized and unissued shares of Preferred Stock, without designation as to series, until such shares are once more designated as part of a particular series of Preferred Stock by the Board of Directors.
Dividends on the outstanding shares of Mandatorily Redeemable Preferred Stock will accrue on a daily basis (without interest or compounding) whether or not there are funds legally available for the payment of such dividends and whether or not such dividends are declared.
Such dividends shall accrue from the Issue Date and shall be payable on the date the Mandatorily Redeemable Preferred Stock is redeemed pursuant to paragraph (4).