Priority Stock definition

Priority Stock means any class or series of stock of the Corporation issued on or after the Original Issue Date and entitled to receive assets or amounts distributable upon liquidation, dissolution or winding up of the Corporation prior or preferentially to the Series A Preferred Stock or any Parity Stock.
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Priority Stock means IPO Stock received by the Avalon Investors -------------- pursuant to Section 8 in respect of any Unpaid Yield or Unreturned Capital Value of any Class A Unit.
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Priority Stock means any shares of any class of Stock of the Corporation having any preference or priority as to dividends or Property senior to any such preference or priority of the 7.85% Preferred, or any voting right with respect to the election of directors which, if exercised, would restrict or eliminate any such voting right of the 7.85% Preferred, and any instrument or Security convertible into or exchangeable for Parity Stock. Priority Stock includes but is not limited to Senior Preferred.
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Examples of Priority Stock in a sentence

  • Japan Customs has a tariff schedule that covers 9,018 tariff items, of which 2,419 items are agricultural products.

  • The Certificates listed on Exhibit C attached hereto and made a part hereof, representing 2,224,961 shares of the Stock (the "Second Priority Stock"), is currently in the possession of Bank Boston, N.A. (the "Prior Lender"), and such 2,224,961 shares of the Stock have been previously pledged by Borrower to Prior Lender, to secure payment of Borrower's obligations to Prior Lender (the "Prior Lender's Loan").

  • In other words, Borrower shall cause Prior Lender to release one (1) share of the Second Priority Stock pledged to Prior Lender for each $1.35 of reduction of principal in the Prior Lender Loan.

  • Notwithstanding any provision herein, the Lender's rights with respect to the Second Priority Stock shall be subject to the Prior Lender's rights in the Second Priority Stock.

  • Borrower agrees and acknowledges that Lender has a first lien on and security interest in the First Priority Stock and, at present, a second lien on and security interest in the Second Priority Stock, which will automatically become a first lien on and security interest when the Prior Lender releases such Stock.

  • Borrower agrees to cause Prior Lender to release portions of the 2,224,961 shares of the Second Priority Stock referred to above from the lien and security interest in favor of Prior Lender, as and when Borrower makes principal payments on the Prior Lender Loan, on a pro rata basis, such that the ratio of the number of shares of Second Priority Stock pledged to the Prior Lender to the outstanding principal loan balance of the Prior Lender Loan shall remain constant.

  • The Certificates listed on Exhibit B attached hereto and made a part hereof, representing 392,282 shares of the Stock in the aggregate (the "First Priority Stock"), have been delivered herewith by Borrower to Lender, together with duly executed blank stock powers attached thereto.

Related to Priority Stock

  • Liquidation Parity Stock means any class or series of stock of the Corporation hereafter authorized that ranks equally with the Series G Preferred Stock in the distribution of assets on any liquidation, dissolution or winding up of the Corporation.

  • Parity Stock means any class or series of stock of the Corporation (other than Designated Preferred Stock) the terms of which do not expressly provide that such class or series will rank senior or junior to Designated Preferred Stock as to dividend rights and/or as to rights on liquidation, dissolution or winding up of the Corporation (in each case without regard to whether dividends accrue cumulatively or non-cumulatively).

  • Junior Stock means the Corporation’s common stock and any other class or series of stock of the Corporation hereafter authorized over which Series I Preferred Stock has preference or priority in the payment of dividends or in the distribution of assets on any liquidation, dissolution or winding up of the Corporation.

  • Voting Parity Stock means, with regard to any matter as to which the holders of Designated Preferred Stock are entitled to vote as specified in Sections 7(a) and 7(b) of these Standard Provisions that form a part of the Certificate of Designations, any and all series of Parity Stock upon which like voting rights have been conferred and are exercisable with respect to such matter.

  • Senior Stock means any class or series of stock of the Company now existing or hereafter authorized which has preference or priority over the Series F Preferred Stock as to the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.