Series B Junior Securities definition

Series B Junior Securities means any class or series of Partnership Securities that, with respect to distributions on such Partnership Securities and distributions upon liquidation of the Partnership, ranks junior to the Series B Preferred Units, including but not limited to Common Units, Class A Units, Class B Units and the General Partner Interest, but excluding any Series B Parity Securities and Series B Senior Securities.

Series B Junior Securities has the meaning set forth in Section 6.03(c) hereof.

Series B Junior Securities has the meaning given to such term in paragraph B(2).

Examples of Series B Junior Securities in a sentence

• The holders of shares of the Series B Preferred Stock in preference to the Series B Junior Securities shall be entitled to receive, out of funds legally available for that purpose, and when, as, and if declared by the Board of Directors of the Bank, preferential non-cumulative dividends payable in cash in an amount determined by applying the annual rate of LIBOR plus 200 basis points to the Series B Liquidation Value (the "Series B Dividend Rate").

• Such dividends shall accrue whether or not they have been declared and whether or not there are profits, surplus or other funds of the Corporation legally available for the payment of dividends, and such dividends shall be cumulative such that all accrued and unpaid dividends shall be fully paid or declared with funds irrevocably set apart for payment before any dividends, distributions, redemptions or other payments may be made with respect to any Series B Junior Securities.

• If the liquidation preference has been paid in full to all holders of Series B Preferred Stock and any Series B Parity Securities, the holders of the Corporation’s Series B Junior Securities shall be entitled to receive all remaining assets of the Corporation according to their respective rights and preferences.

• The Holders shall be entitled to receive the dividends provided for in paragraph B(3)(a) hereof in preference to and in priority over any dividends upon any of the Series B Junior Securities.

• The fair value of share purchase options granted is measured using the Black-Scholes option pricing model, taking into account the terms and conditions upon which the share purchase options were granted and forfeiture rates as appropriate.

More Definitions of Series B Junior Securities

Series B Junior Securities means (i) the Series C Preferred Units and (ii) any other class or series of Partnership Securities that, with respect to distributions on such Partnership Securities and distributions upon liquidation of the Partnership, ranks junior to the Series B Preferred Units, including but not limited to Common Units, but excluding any Series B Parity Securities and Series B Senior Securities.

Series B Junior Securities means any class or series of Partnership Interests that, with respect to distributions on such Partnership Interests and distributions in respect of such Partnership Interests upon the liquidation, dissolution and winding up of the Partnership, ranks junior to the Series B Preferred Units, and shall include Common Units and Subordinated Units, but shall not include any Series B Parity Securities or Series B Senior Securities.

Series B Junior Securities has the meaning set forth in Section 5.02(b) hereof.

Series B Junior Securities has the meaning set forth in paragraph A(2) -------------------------- hereof.

Series B Junior Securities means any capital stock or other equity securities of the Corporation, except for the Senior Preferred Stock or the Junior Preferred Stock of the Corporation.

Series B Junior Securities means, collectively, the Common Stock, Series C Preferred Stock and each other class or series of Capital Stock of the Corporation issued after the date hereof of the terms of which specifically provide that such class or series shall rank junior to the Series B Preferred Stock as to dividend distributions or distributions upon the liquidation, winding up or dissolution of the Corporation.

Series B Junior Securities means, collectively, the Common Stock, Series C Preferred Stock and each other class or series of Capital Stock of the Corporation issued after the date hereof of the terms of which specifically provide that such class or series shall rank junior to the Series B Preferred Stock as to dividend distributions or distributions upon the liquidation, winding up or dissolution of the Corporation, provided that the Series C-2 Preferred Stock shall not be junior to the Series B Preferred Stock to the extent of the Series C-2 Annual Dividend and shall not be junior to the Series B Preferred Stock in an amount such that such dividends together with dividends paid in respect of the Series B-2 Preferred Stock (in preference to the Series B-1 Preferred Stock) do not exceed the Series B-2 Liquidation Premium (plus, all Accumulated Dividends thereon).