Examples of Series C Accruing Dividends in a sentence
The Series C Accruing Dividends shall accrue from day to day, whether or not declared, and shall be cumulative; provided, however, that except as set forth in the following sentence of this Section 1.2 or in Subsections 2.1 and 6, such Series C Accruing Dividends shall be payable only when, as, and if declared by the Board of Directors and the Corporation shall be under no obligation to pay such Series C Accruing Dividends other than as set forth herein.
Any such quarterly payment shall be prorated for any partial calendar quarter based on the number of days which the Series C Accruing Dividends shall have accrued during such quarter and assuming a calendar quarter of 90 days.
In the event that the Series C Accruing Dividend Event does not occur within 14 days of the Series C Accrual End Date determined by the Board, (i) the determination of such Series C Accrual End Date shall terminate and be of no further force or effect and the Board may determine a new Series C Accrual End Date pursuant to this Section 1(i), and (ii) the Series C Accruing Dividends will continue to accrue pursuant to Section 1(b) above as if no Series C Accrual End Date had not been designated.
The Series A Accruing Dividends, Series B Accruing Dividends and Series C Accruing Dividends are referred to collectively herein as the “Accruing Dividends”.
Series C Accruing Dividends shall accrue from day to day, whether or not declared, and shall be cumulative; provided, however, that except as set forth in the following sentence of this Section 1 or in Subsection 2.1 and Section 6, such Series C Accruing Dividends shall be payable only when, as, and if declared by the Board of Directors and the Corporation shall be under no obligation to pay such Series C Accruing Dividends.
Series C Accruing Dividends shall accrue from day to day, whether or not declared, and shall be cumulative; provided, however, that except as set forth in the following sentence of this Subsection 1.1 or in Subsection 2.1 and Section 6, such Series C Accruing Dividends shall be payable only when, as, and if declared by the Board of Directors of the Corporation (the “Board of Directors”) and the Corporation shall be under no obligation to pay such Series C Accruing Dividends.
The holders of Preferred Stock and Common Stock (voting together as a single class and not as separate series, and on an as-converted basis (ignoring solely for the purposes hereof the Series B Accruing Dividends, the Series C Accruing Dividends, the Series C-1 Accruing Dividends and the Series C-2 Accruing Dividends, as the case may be, in such conversion calculation)) shall be entitled to elect any remaining directors of the Corporation.
The Series C Accruing Dividends shall only become due and payable if (i) the Series C Preferred Stock is redeemed under Section 6 or (ii) in the specific circumstance set forth in Section 2.21(e)(ii) regarding payment to the holders of Series C Preferred Stock of not less than the Series C Redemption Price, including without limitation in connection with a Sale of the Company.
At the time of each conversion, the Corporation shall pay in cash an amount equal to all dividends, excluding Series B Accruing Dividends, Series C Accruing Dividends, Series C-1 Accruing Dividends and Series C-2 Accruing Dividends, accrued and unpaid on the shares of Series B, Series C, Series C-1 and Series C-2 Preferred Stock surrendered for conversion to the date upon which such conversion is deemed to take place as provided in Section IV.C.4(b).
Accruing Dividends shall accrue from day to day, whether or not declared, and shall be cumulative; provided, however, that such Series C Accruing Dividends shall be payable only when, as, and if declared by the Board of Directors and the Corporation shall be under no obligation to pay such Series C Accruing Dividends unless declared by the Board of Directors.