Examples of Series Y Preferred Stock in a sentence
Shares of Series Y Preferred Stock are not subject to the operation of a sinking fund.
Unlike the conception of architecture derived from the construction bubble in which the use of a building could arise (or not) once it was built, vernacular architecture only appears when it is really necessary.
Series Y Preferred Stock will rank equally with Parity Stock with respect to the payment of dividends and distribution of assets in the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Corporation and will rank senior to Junior Stock with respect to the payment of dividends and/or the distribution of assets in the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Corporation.
Dividends on each share of Series Y Preferred Stock will accrue at a rate per annum equal to 5.625%.
Each share of Series Y Preferred Stock shall be identical in all respects to every other share of Series Y Preferred Stock except with respect to the date from which dividends may accrue.
The record date for payment of dividends on the Series Y Preferred Stock shall be the last Business Day of the calendar month immediately preceding the month during which the Dividend Payment Date falls or such other date as determined by the Corporation’s Board of Directors.
The holders of Series Y Preferred Stock shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Corporation other than what is expressly provided for in this Section 5.
The Corporation shall have the authority to issue fractional shares of Series Y Preferred Stock.
The number of authorized shares of Series Y Preferred Stock shall be 27,600.
Subject to the provisions of this Section 6, the Board of Directors of the Corporation or any duly authorized committee of the Board of Directors shall have full power and authority to prescribe the terms and conditions upon which shares of Series Y Preferred Stock shall be redeemed from time to time.