QDPS Amount definition
QDPS Amount means the amount of the quarterly dividend per share, which shall initially be Fifteen Cents ($0.15) per share per quarter. The QDPS Amount shall be subject to increase from time to time by the Borrowers’ Board of Directors by up to a maximum of fifteen percent (15%) per annum over the prior QDPS Amount (by way of example, (x) for the first year the Borrower can increase the QDPS Amount by a maximum of Two and Twenty-Five Hundredths Cents ($.0225) per share per quarter based upon the initial QDPS Amount and (y) assuming the Borrower increases the QDPS Amount by the full fifteen percent (15%) for the first year, then for the second year, the Borrower can increase the QDPS Amount by a maximum of Two and Five Thousand Eight Hundred Seventy-Five Ten-Thousandths Cents ($.025875) per share per quarter), so long as (i) no Default or Event of Default shall have occurred and be continuing and (ii) Liquidity, at the time the Borrowers’ Board of Directors increases the QDPS Amount, after giving effect to each such quarterly dividend payment, is equal to or greater than Ten Million Dollars ($10,000,000). Following any permitted increase by the Borrowers’ Board of Directors, the QDPS Amount shall thereafter be fixed at the new QDPS Amount until such time as the Borrowers’ Board of Directors elects to further change the QDPS Amount.
QDPS Amount means the amount of the quarterly dividend per share, which shall initially be Fifteen Cents ($0.15) per share per quarter. The QDPS Amount shall be subject to increase from time to time by the Borrowers’ Board of Directors by up to a maximum of fifteen percent (15%) per annum over the prior QDPS Amount (by way of example, (x) for the first year the Borrower can increase the QDPS Amount by a maximum of Two and Twenty-Five Hundredths Cents ($.0225) per share per quarter based upon the initial QDPS Amount and (y) assuming the