Unpaid Dividends Sample Clauses
The Unpaid Dividends clause outlines the treatment of dividends that have been declared but not yet paid to shareholders. Typically, this clause specifies the timing and method of payment for such dividends, and may address whether interest accrues on unpaid amounts or how they are prioritized in future distributions. Its core practical function is to ensure clarity and fairness in the handling of outstanding dividend obligations, thereby preventing disputes and managing shareholder expectations regarding payment.
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Unpaid Dividends that in addition to the issuance of common stock upon conversion of the Series C convertible preferred stock pursuant to the terms thereof, the Company will also issue a number of shares of common stock to the holder of the Series C convertible preferred stock equal to the unpaid dividends, with compounded interest thereon, on the converted shares of Series C convertible preferred stock at the per share value of the common stock used for the Exchange Offer in return for the waiver of such unpaid dividends by the holder of the Series C convertible preferred stock;
Unpaid Dividends. If the full amount of a Class A Dividend is not declared on a BBU Distribution Declaration Date, or is declared but is not paid on the payment date, then such Class A Dividend shall accrue and accumulate, whether or not the Company has earnings, whether or not there are funds legally available for the payment thereof and whether or not such distributions are earned, declared or authorized (such amounts, the “Unpaid Dividends”). Any dividend payment made on the Class A Shares shall first be credited against the earliest Unpaid Dividends due with respect to such Class A Shares which remains payable.
Unpaid Dividends. Any outstanding dividend liability at Closing, if any, payable to a shareholder other than a Group Company, is considered as a debt-like component. For the avoidance of doubt, at year-end, these are usually recorded under the following accounts: • Legal entity: Asco Industries NV - statutory account #480000 • Legal entity: SRIF NV - statutory account #471001
Unpaid Dividends. Upon conversion, if any, of the Series B Preferred Shares into Common Shares, all declared and unpaid dividends, if any, on the Series B Preferred Shares being converted shall be paid either in cash or Common Shares, at the election of the Board of Directors of the Company.
Unpaid Dividends. ▇▇▇▇▇ United $3,670,683
Unpaid Dividends. The outstanding debts representing 2010, 2011 and 2012 dividends declared and payable by the Company to the Sellers, as indicated on Schedule 6.1 herein (“Unpaid Dividends”), shall be paid to each of them by January 1, 2020, as agreed among the Parties under the Quotaholders Agreement (provided that the provisions related to such Unpaid Dividends were first established in the third amendment to the Quotaholders Agreement) and under the Termination of the Quotaholders Agreement executed among the Parties on the present date, including in connection with the monetary adjustments provided therein.
Unpaid Dividends. Sellers shall have delivered to Buyer a waiver and release, in form and substance satisfactory to Buyer, of all unpaid dividends with respect to the Shares.
Unpaid Dividends. 15 (k) Employment Agreement..............................15 (l) Payoff Letter and Lien Releases...................15 (m) Additional Conditions.............................15 (n) Termination of the ▇▇▇▇▇ Plan.....................15
Unpaid Dividends. If the amount of dividends paid in cash on the Convertible Preferred Shares on a Semi-Annual Dividend Payment Date is less than the total amount of such dividends at the time accrued and payable on such shares (or that would be payable if the Corporation had funds legally available for payment), (x) the dividends paid shall be allocated pro rata on a share-by-share basis among all Convertible Preferred Shares at the time outstanding, (y) the accrued and unpaid dividends shall be added to the Face Value on the Semi-Annual Dividend Payment Date and shall thereafter, until such accrued and unpaid dividends have been paid in cash in full, be treated as part of the Face Value and accrue additional dividends in respect thereof at the rate determined in accordance in Section 3(a) and Section 3(e), and (z) until all accrued and unpaid dividends have been paid in cash in full, the Corporation shall not, after that Semi-Annual Dividend Payment Date, declare or pay any dividend on, make any other distribution on, or redeem or purchase or otherwise acquire for consideration (or pay or make available any money for a sinking fund for the redemption of) any Junior Stock.
Unpaid Dividends. Immediately prior to any redemption of Series C Preferred Stock, the Corporation shall pay, in cash, any accumulated and unpaid dividends through and including the redemption date, unless a redemption date falls after a Dividend Record Date and prior to the corresponding Dividend Payment Date, in which case each holder of Series C Preferred Stock at the close of business on such Dividend Record Date shall be entitled to the dividend payable on such shares on the corresponding Dividend Payment Date notwithstanding the redemption of such shares before such Dividend Payment Date. Except as provided in this paragraph, the Corporation will make no payment or allowance for unpaid dividends, whether or not in arrears, on shares of the Series C Preferred Stock to be redeemed.