Examples of Outstanding Series A Preferred Shares in a sentence
Outstanding Series A Preferred Shares that are purchased or otherwise acquired by the Corporation, or converted into Common Shares, shall be cancelled and shall revert to authorized but unissued preferred shares undesignated as to series.
The voting rights of the Series A Holders shall not apply if, at or prior to the time when the act with respect to which the vote would otherwise be required, all Outstanding Series A Preferred Shares shall have been redeemed or called for redemption upon proper notice and the Company shall have set aside sufficient funds for the benefit of Series A Holders to effect the redemption.
No dividend will be declared or paid upon, or any sum set apart for the payment of dividends upon, any Outstanding Series A Preferred Share with respect to any Dividend Period unless all dividends for all preceding Dividend Periods have been declared and a sufficient sum set apart for the payment of such dividend, upon all Outstanding Series A Preferred Shares.
If a Change of Control occurs (whether before, on or after September 15, 2024) and the Company does not give notice prior to the 31st day following the Change of Control to redeem all the Outstanding Series A Preferred Shares, the distribution rate per annum on the Series A Preferred Shares will increase by 5.00%, beginning on the 31st day following such Change of Control.
At any meeting held for the purpose of electing a Series A Preferred Share Director, the presence in person or by proxy of the holders of at least a majority of the Outstanding Series A Preferred Shares shall be required to constitute a quorum of such Series A Preferred Shares.
In such cases a competitive selection procedure prevents a disproportionate distortion of competition by pre-selecting the beneficiary or giving preference to one operator over others.
At any time after the third anniversary of the Original Issue Date, the Corporation shall have the right, but not the obligation to redeem any portion of the Outstanding Series A Preferred Shares (“Optional Redemption”).
Outstanding Series A Preferred Shares that are redeemed, purchased or otherwise acquired by the Corporation shall, after such redemption, purchase or acquisition, be cancelled and shall revert to authorized but unissued shares of Preferred Stock undesignated as to series until such shares are once more designated as part of a particular series by the Board.
After payment of the full preferential amount (and, if applicable, an amount equal to a pro rata dividend to the holders of Outstanding Series A Preferred Shares), such holders shall not be entitled to any further participation in any distribution of assets of the Issuer.
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