Series B Per Share Liquidation Preference definition

Series B Per Share Liquidation Preference means, with respect to each Series B Preferred Share, the sum of (i) $2.99, plus (ii) the accrued eight percent (8%) dividend payable in respect of such Series B Preferred Share pursuant to the Company Articles as of immediately prior to the Effective Time, plus (iii) all declared but unpaid dividends on such Series B Preferred Share, as of immediately prior to the Effective Time, less (iv) the amount of any dividend previously paid on such Series B Preferred Share, as of immediately prior to the Effective Time.

Series B Per Share Liquidation Preference means Zero Dollars ($0).

Series B Per Share Liquidation Preference means, with respect to any particular share of Series B Preferred Stock or share of Series B Preferred Stock issuable upon the exercise in full of the Company B Warrants, (a) $7.4860, plus (b) the aggregate amount, if any, of all accrued but unpaid dividends with respect to such share.

Examples of Series B Per Share Liquidation Preference in a sentence

• ANNEX A INFORMATION SPECIFIC TO THE COMPANY AND THE INVESTMENT Purchase Information Terms of the Purchase: Series of Preferred Stock Purchased: Senior Non-Cumulative Perpetual Preferred Stock, Series B Per Share Liquidation Preference of Preferred Stock: $1,000 per share Number of Shares of Preferred Stock Purchased: 32,000 Dividend Payment Dates on the Preferred Stock: Payable quarterly in arrears on January 1, April 1, July 1 and October 1 of each year.

• Series of Preferred Stock Purchased: Non-Cumulative Perpetual Preferred Stock, Series B Per Share Liquidation Preference of Preferred Stock: $1,000 per share Number of Shares of Preferred Stock Purchased: 20,000 Dividend Payment Dates on the Preferred Stock: Payable quarterly in arrears on January 1, April 1, July 1 and October 1 of each year.

• ANNEX A INFORMATION SPECIFIC TO THE COMPANY AND THE INVESTMENT Purchase Information Terms of the Purchase: Series of Preferred Stock Purchased: Senior Non-Cumulative Perpetual Preferred Stock, Series B Per Share Liquidation Preference of Preferred Stock: $1,000 per share Number of Shares of Preferred Stock Purchased: 10,000 Dividend Payment Dates on the Preferred Stock: Payable quarterly in arrears on January 1, April 1, July 1 and October 1 of each year.

• In the event that the amount of the per share liquidation ---------- preference of the Series A Preferred Stock (the "Series A Per Share Liquidation ------------------------------ Preference") is increased by amendment of the rights of the Series A Preferred ---------- Stock, the amount of the Series B Per Share Liquidation Preference shall be simultaneously increased by the percentage amount equal to the percentage increase in the Series A Per Share Liquidation Preference.

• Xxxxxxxx Executive Vice President and CFO Security Federal Corporation 000 Xxxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxx Xxxxxxxx 00000 Terms of the Purchase: Series of Preferred Stock Purchased: Fixed Rate Cumulative Preferred Stock, Series B Per Share Liquidation Preference of Preferred Stock: $1,000 per share Number of Shares of Preferred Stock Purchased: 4,000 Dividend Payment Dates on the Preferred Stock: Payable quarterly in arrears on February 15, May 15, August 15 and November 15 of each year.

• If the Merger Consideration shall be insufficient to make payment in full to all holders of Series B Convertible Preferred Stock of the Series B Per Share Liquidation Preference with respect to each share of Series B Convertible Preferred Stock held, then the Merger Consideration shall be distributed among the holders of the Series B Convertible Preferred Stock ratably in proportion to the full amounts to which they would otherwise be respectively entitled.

• In the event of any Liquidation that --------------------- occurs after the Change Date, the Series B Per Share Liquidation Preference shall increase to two (2) times the amount payable pursuant to Paragraph E(i) -------------- above.