Series E Trust definition

Series E Trust means any trust provided for in Section 10(c) below.

Examples of Series E Trust in a sentence

The Series E Trustee shall have all voting rights and rights to dividends or other distributions with respect to shares of Series E Preferred Stock held in the Series E Trust, which rights shall be exercised for the exclusive benefit of the Series E Charitable Beneficiary.

Notwithstanding the provisions of this Section 10, until the Corporation has received notification that shares of Series E Preferred Stock have been transferred into a Series E Trust, the Corporation shall be entitled to rely on its share transfer and other stockholder records for purposes of preparing lists of stockholders entitled to vote at meetings, determining the validity and authority of proxies and otherwise conducting votes of stockholders.

Within 20 days of receiving notice from the Corporation that shares of Series E Preferred Stock have been transferred to the Series E Trust, the Series E Trustee of the Series E Trust shall sell the shares held in the Series E Trust to a person or persons, designated by the Series E Trustee, whose ownership of the shares will not violate the ownership limitations set forth in Section 10(b)(i).

Upon any purported Transfer or other event described in Section 10(b)(ii) that would result in a transfer of shares of Series E Preferred Stock to a Series E Trust, such shares of Series E Preferred Stock shall be deemed to have been transferred to the Series E Trustee in his or her capacity as trustee of a Series E Trust for the exclusive benefit of one or more Series E Charitable Beneficiaries.

The Corporation shall have the right to accept such offer until the Series E Trustee has sold the shares held in the Series E Trust pursuant to Section 10(c)(iv).