Noncumulative definition

Noncumulative means that any shortfall of a Preferred Return in a given quarter shall not carry forward. However, the Manager’s portion of the EDC shall be subject to the Clawback for up to two consecutive quarters after any shortfall of the Preferred Return.
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Examples of Noncumulative in a sentence

  • Such shares of Preferred Stock have been designated as Senior Noncumulative Perpetual Preferred Stock, Series C, and were issued to the Treasury on July 6, 2011 in connection with the Company’s participation in the Treasury’s Small Business Lending Fund Program.

  • There shall hereby be designated as a series of preferred limited liability company interests in the Company a series identified as the Company's "*% Noncumulative Company Preferred Securities", liquidation preference $[1,000][25] per security and aggregate liquidation preference $* (the "Company Preferred Securities").

  • Non-cumulative leave of 16 hours is credited at initial appointment and thereafter at each anniversary date.

  • The family member definition, as stated in this article will apply to Article 35: Noncumulative Leaves, Item 1, B Bereavement Leave; Item 1, F Maternity/Paternity Leave and Item 1, H Unpaid Leave.

  • A series of Preferred Stock designated as the “Series B Noncumulative Convertible Preferred Stock” (“Series B Preferred Stock”) is hereby established.

  • Non-cumulative fifteen (15) minute paid rest period will be scheduled for each four (4) hours worked by employees in a workday.

  • At the date of this Offering Circular, the Guarantor’s authorised share capital consisted of €130,100,002 comprised of 433,333,340 Ordinary shares with a par-value of €0.30 each and 10,000,000 Non-cumulative Redeemable Preference Shares of €0.01 each.

  • As of March 1, 2024, there were 10,244,408 shares of Common Stock reserved for issuance upon the exercise of the warrants under the Bifurcated Option Note Unit Securities of New York Community Capital Trust V and 20,600,000 Depositary Shares (each representing a 1/40th interest in a share of Fixed-to-Floating Rate Series A Noncumulative Perpetual Preferred Stock of the Company) outstanding.

  • The Securities were issued pursuant to the exchange of the 15% Noncumulative Perpetual Preferred Stock, Series A, par value $1.00, of the Corporation (the "Series A Preferred Stock") pursuant to the terms of the Offering Circular dated November 25, 1998 of the Corporation relating thereto.

  • Non-cumulative emergency days will be granted for hospitalization of, or death of, significant other and/or a close personal friend, or a member of the immediate family: spouse, grandparents, parents, in-laws, siblings, children, and grandchildren.