Examples of Series 7 Preferred Units in a sentence
In January 2017, our partnership issued 12 million Series 7 Preferred Units, at C$25 per unit with a quarterly fixed distribution at a rate of 5.00% annually for the initial period ending March 31, 2022.
On the Closing Date, a book entry only certificate representing the Series 7 Preferred Units will be issued in registered form only to CDS Clearing and Depository Services Inc.
Subscriptions for the Series 7 Preferred Units will be received subject to rejection or allotment in whole or in part and the right is reserved to close the subscription books at any time without notice.
Holders of the Series 7 Preferred Units will not have any voting rights, except as required by the Act.
Accrued but unpaid dividends on the Series 7 Preferred Units shall accumulate as of the Dividend Payment Date on which they first become payable.
If the holders of the Series 7 Preferred Stock receive cash, securities or other property upon conversion of the Series 7 Preferred Stock, the Series 7 Preferred Units shall also convert into such cash, securities or other property.
Dividends on account of arrears for any past dividend periods may be declared and paid at any time, without reference to a regular Dividend Payment Date to holders of record of the Series 7 Preferred Units on the record date fixed by the Board of Directors which date shall be not less than 10 days and not more than 30 Business Days prior to the payment date.
Holders of Series 7 Preferred Units shall not be entitled to any dividends or distributions, whether payable in cash, other property or otherwise, in excess of the full cumulative dividends described herein.
At any meeting of holders of Series 7 Preferred Units as a series, each such holder shall be entitled to one vote in respect of each Series 7 Preferred Unit held.
The Underwriters’ fee indicated in the table assumes that no Series 7 Preferred Units are sold to such institutions.