Pari Passu Stock definition

Pari Passu Stock means the Pari Passu Stock – Primary and the Pari Passu Stock -Secondary, collectively.

Pari Passu Stock means shares of any class of capital stock of the Corporation ranking equal to the Preferred Stock as to dividends and the distribution of assets upon liquidation.

Pari Passu Stock means the shares of any class or series of stock of the Company created on or after the Issue Date that, by the terms of the Certificate of Incorporation or of the instrument by which the Board of Directors, acting pursuant to authority granted in the Certificate of Incorporation, shall fix the relative rights, preferences and limitations thereof, shall, in the event that the stated dividends thereon are not paid in full, be entitled to share ratably with the Preferred Stock in the payment of dividends, including accumulations, if any, in accordance with the sums or other consideration which would be payable on such shares if all dividends were declared and paid in full, or shall, in the event that the amounts payable thereon in liquidation are not paid in full, be entitled to share ratably with the Preferred Stock in any other distribution of assets in accordance with the sums or other consideration which would be payable in such distribution if all sums payable were discharged in full.

Examples of Pari Passu Stock in a sentence

• In the event dividends are paid on any share of Common Stock, Pari Passu Stock or Junior Stock, the Company shall pay an additional dividend on all outstanding shares of Series G Preferred Stock in an amount equal per share (on an as-if-converted to Common Stock basis) to the amount paid or set aside for each share of Common Stock, Pari Passu Stock or Junior Stock.

• The shares of Pari Passu Stock shall rank equally with the Preferred Stock as to payment of dividends.

• Upon the completion of the distribution required by Section 5(a), the remaining assets of the Corporation available for distribution to shareholders shall be distributed among the holders of the Senior Stock, Series C Preferred Stock, Pari Passu Stock and Junior Stock based on the number of shares of Common Stock held by each (assuming conversion of all such Senior Stock, Series C Preferred Stock, Pari Passu Stock and Junior Stock at the then effective conversion price of each such security).

• After the payment to the holders of shares of the Series D Preferred Stock and Pari Passu Stock of the full amount of any liquidating distribution to which they are entitled under this Section 5, the holders of the Series D Preferred Stock as such shall have no right or claim to any of the remaining assets of the Corporation.

• After the payment to the holders of shares of the Series C Preferred Stock and Pari Passu Stock of the full amount of any liquidating distribution to which they are entitled under this Section 5, the holders of the Series C Preferred Stock as such shall have no right or claim to any of the remaining assets of the Corporation.

More Definitions of Pari Passu Stock

Pari Passu Stock means any class or series of the Corporation’s capital stock, the terms of which provide that shares of such class or series rank on par with the Series D Convertible Preferred Stock, including but not limited to the Series D-1 Convertible Preferred Stock, as to distributions of dividends and distributions upon a Change of Control Transaction or the liquidation, winding-up and dissolution of the Corporation.

Pari Passu Stock means any class or series of capital stock of the Corporation authorized on or after the Original Issue Date ranking pari passu with the Series H Preferred Stock in respect of the right to receive dividends or to participate in any distribution upon liquidation, dissolution or winding-up of the affairs of the Corporation, as applicable, including but not limited to the Series G Participating Convertible Preferred Stock with respect to the Series G Secondary Liquidation Preference.

Pari Passu Stock means the shares of any class or series of stock of the Company created on or after the issuance of the Series A Preferred Stock that, by the terms of the Articles of Incorporation or of the instrument by which the Board of Directors, acting pursuant to authority granted in the Articles of Incorporation, shall fix the relative rights, preferences and limitations thereof, shall, in the event that the amounts payable thereon in liquidation are not paid in full, be entitled to share ratably with the Series A Preferred Stock in any other distribution of assets in accordance with the sums or other consideration which would be payable in such distribution if all sums payable were discharged in full.

Pari Passu Stock means any Preferred Stock (other than Preferred Stock which is expressly designated by the Company as Junior Stock) issued subsequent to the Effective Date (as defined in the Credit Agreement).

Pari Passu Stock means the Pari Passu Stock—Primary and the Pari Passu Stock—Secondary, collectively.

Pari Passu Stock means capital stock of the Corporation that is not ---------------- Junior Stock or Senior Stock.

Pari Passu Stock means any Preferred Stock (other than Preferred Stock which is expressly designated by the Company as Junior Stock) issued subsequent to October 20, 1999.