Examples of Series A PIK Dividends in a sentence
On the Series A PIK Record Date immediately preceding each Series A PIK Dividend Payment Date, the Board of Directors of the Corporation shall be deemed to have declared Series A PIK Dividends on the Series A Convertible Preferred Stock in accordance with paragraph A.2(a) of this Section 4.2, payable on the next Series A PIK Dividend Payment Date.
Unpaid Series A PIK Dividends may be paid at any time to holders of record on the Series A PIK Record Date therefor.
Series A PIK Dividends on shares of Series A Convertible Preferred Stock shall accrue at a rate per annum equal to eight percent (8.0%) of one share of Series A Convertible Preferred Stock, cumulated annually, and be cumulative from the date of issuance of such shares through the Series A PIK Dividend Payment Period.
Any additional shares of Series A Convertible Preferred Stock issued pursuant to this paragraph shall be governed by this Section 4.2 and shall be subject in all respects, except as to the date of issuance and date from which Series A PIK Dividends accrue and cumulate as set forth in paragraph A.2(b) of this Section 4.2, to the same terms as the shares of Series A Convertible Preferred Stock issued on the Initial Issue Date.
The record holders of the outstanding Series A Convertible Preferred Stock shall receive on each Series A PIK Dividend Payment Date during the Series A PIK Dividend Payment Period per share dividends in additional fully paid and nonassessable shares of Series A Convertible Preferred Stock legally available therefor (such dividend being herein called "Series A PIK Dividends").
Series A PIK Dividends shall be paid to holders of record of the Series A Convertible Preferred Stock on each Series A PIK Dividend Payment Date as their names shall appear on the share register of the Corporation on the Series A PIK Record Date immediately preceding such Series A PIK Dividend Payment Date.
Series A PIK Dividends shall be payable in arrears during the Series A PIK Dividend Payment Period on each Series A PIK Dividend Payment Date, commencing on the first Series A PIK Dividend Payment Date, and for shares issued as Series A PIK Dividends, commencing on the first Series A PIK Dividend Payment Date occurring after such shares are issued.
If any Series A PIK Dividend Payment Date occurs on a day that is not a Business Day, any accrued Series A PIK Dividends otherwise payable on such Series A PIK Dividend Payment Date shall be paid on the next succeeding Business Day.
Series A PIK Dividends on Series A PIK Dividends that are in arrears for any past Series A PIK Dividend Periods shall accumulate as if the earlier Series A PIK Dividends had been issued as provided above, and shall be accrued.
The Series A PIK Dividends shall be paid by delivering to each record holder of Series A Convertible Preferred Stock a number of shares of Series A Convertible Preferred Stock (which number of shares shall be rounded to the nearest one- thousandth of a share) equal to the number of shares of Series A Convertible Preferred Stock held by such holder on the applicable Series A PIK Record Date, multiplied by the Series A Annual Per Share PIK Dividend Amount.