Common use of Payment of Dividends Clause in Contracts

Payment of Dividends. The holders of the common shares will be entitled to receive dividends if, as and when declared by the board of directors of the Corporation out of the assets of the Corporation properly applicable to the payment of dividends in such amounts and payable in such manner as the board of directors may from time to time determine. Subject to the rights of the holders of any other class of shares of the Corporation entitled to receive dividends in priority to or concurrently with the holders of the common shares, the board of directors may in its sole discretion declare dividends on the common shares to the exclusion of any other class of shares of the Corporation.

Appears in 3 contracts

Samples: Share Purchase Agreement (Mascoma Corp), Arrangement Agreement (Vasogen Inc), Merger Agreement (Vasogen Inc)

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Payment of Dividends. The holders of the common shares Common Shares will be entitled to receive dividends if, as and when declared by the board of directors of the Corporation Company out of the assets of the Corporation Company properly applicable to the payment of dividends in such amounts and payable in such manner as the board of directors of the Company may from time to time determine. Subject to the rights of the holders of any other class of shares of the Corporation Company entitled to receive dividends in priority to or concurrently with the holders of the common sharesCommon Shares, the board of directors of the Company may in its sole discretion declare dividends on the common shares Common Shares to the exclusion of any other class of shares of the CorporationCompany.

Appears in 2 contracts

Samples: Arrangement Agreement (1397468 B.C. Ltd.), Arrangement Agreement (1397468 B.C. Ltd.)

Payment of Dividends. The Subject to applicable law, the holders of the common shares Class A Common Shares will be entitled to receive dividends if, as and when declared by the board of directors of the Corporation out of (the assets of the Corporation properly applicable to the payment of dividends “Board”), in such amounts and payable in such manner as the board of directors Board may from time to time determine. Subject to the rights of the holders of any other class of shares of the Corporation entitled to receive dividends in priority to or concurrently rateably with the holders of the common sharesClass A Common Shares, the board of directors Board may in its sole discretion declare dividends on the common shares Class A Common Shares to the exclusion of any other class of shares of the Corporation.

Appears in 2 contracts

Samples: Arrangement Agreement (Encana Corp), Arrangement Agreement (Cenovus Energy Inc.)

Payment of Dividends. The holders of the common shares Class A Common Shares will be entitled to receive dividends if, as and when declared by the board of directors of the Corporation Company out of the assets of the Corporation Company properly applicable to the payment of dividends in such amounts and payable in such manner as the board of directors of the Company may from time to time determine. Subject to the rights of the holders of any other class of shares of the Corporation Company entitled to receive dividends in priority to or concurrently with the holders of the common sharesClass A Common Shares, the board of directors of the Company may in its sole discretion declare dividends on the common shares Class A Common Shares to the exclusion of any other class of shares of the CorporationCompany.

Appears in 2 contracts

Samples: Arrangement Agreement (1397468 B.C. Ltd.), Arrangement Agreement (1397468 B.C. Ltd.)

Payment of Dividends. The holders of the common shares will shall be entitled to receive dividends if, as and when declared by the board of directors of the Corporation out of the assets of the Corporation properly applicable to the payment of dividends in such amounts and payable in such manner as the board of directors may from time to time determine. Subject to the rights of the holders of any other class of shares of the Corporation entitled to receive dividends in priority to or concurrently rateably with the holders of the common shares, the board of directors may in its their sole discretion declare dividends on the common shares to the exclusion of any other class of shares of the Corporation.

Appears in 1 contract

Samples: Share Exchange Agreement (JTH Holding, Inc.)

Payment of Dividends. The holders of the common Class A Common shares will shall be entitled to receive dividends if, as and when declared by the board of directors of the Corporation out of the assets of the Corporation properly applicable to the payment of dividends in such amounts and payable in such manner as the board of directors may from time to time determine. Subject to the rights of the holders of any other class of shares of the Corporation entitled to receive dividends in priority to or concurrently with the holders of the common shares, the The board of directors may in its sole discretion declare dividends on the common Class A Common shares to the exclusion of any other class of shares of the Corporation.

Appears in 1 contract

Samples: Incorporation Agreement

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Payment of Dividends. The holders of the common shares will Class A Shares shall be entitled to receive dividends if, as and when declared by the board of directors of the Corporation out of the assets of the Corporation properly applicable to the payment of dividends in such amounts and payable in such manner as the board of directors may from time to time determine. Subject to the rights of the holders of any other class of shares of the Corporation entitled to receive dividends in priority to or concurrently with the holders of the common sharesClass A Shares, the board of directors may in its sole discretion declare dividends on the common shares Class A Shares to the exclusion of any other class of shares of the Corporation.

Appears in 1 contract

Samples: Business Combination Agreement (Pyrophyte Acquisition Corp.)

Payment of Dividends. The holders of the common shares Common Shares will be entitled to receive dividends if, as and when declared by the board of directors of the Corporation out of the assets of the Corporation properly applicable to the payment of dividends in such amounts and payable in such manner as the board of directors may from time to time determine. Subject to the rights of the holders of any other class of shares of the Corporation entitled to receive dividends in priority to or concurrently with the holders of the common sharesCommon Shares, the board of directors may in its sole discretion declare dividends on the common shares Common Shares to the exclusion of any other class of shares of the Corporation.

Appears in 1 contract

Samples: Arrangement Agreement (Oncothyreon Inc.)

Payment of Dividends. The holders of the common shares will be entitled to receive dividends if, as and when declared by the board of directors of the Corporation Company out of the assets of the Corporation Company properly applicable to the payment of dividends in such amounts and payable in such manner as the board of directors may from time to time determine. Subject to the rights of the holders of any other class of shares of the Corporation Company entitled to receive dividends in priority to or concurrently with the holders of the common shares, the board of directors may in its sole discretion declare dividends on the common shares to the exclusion of any other class of shares of the CorporationCompany.

Appears in 1 contract

Samples: Agreement

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