Class ABII Preferred Stock definition

Class ABII Preferred Stock means the Class ABII Convertible Redeemable Preferred Stock of the Company, $0.01 par value per share.

Class ABII Preferred Stock shall have the meaning set forth in the second paragraph hereof.

Examples of Class ABII Preferred Stock in a sentence

• The term "Preferred Stock" shall mean the Class AA --------------- Preferred Stock, the Class ABI Preferred Stock and the Class ABII Preferred Stock.

• Upon the mailing of any such notices of redemption, the Corporation shall become obligated to redeem at the time of redemption specified thereon all the Class ABI Preferred Stock and the Class ABII Preferred Stock.

• Upon the mailing of any such notices of conversion, the Corporation shall become obligated to convert on the Mandatory Conversion Date all of the Class ABI Preferred Stock and Class ABII Preferred Stock.

• The Class ABI Preferred Stock and the Class ABII Preferred Stock, together may be redeemed, in whole, but not in part, at any time on or after [Fifth Anniversary] at the option of the Corporation at the Redemption Price.

• In stating that the dividends payable in respect of the Class ABII Preferred Stock are a mandatory obligation, it is the explicit intent of the Corporation to eliminate any and all discretion of the Board of Directors with respect to the declaration and payment of such dividends and to require the Board of Directors to declare and pay such dividends as and when provided herein, subject only to compliance with the Legal Funds Requirement.

• Dividends shall be paid to the holders of record of the Class ABII Preferred Stock as their names shall appear on the share register of the Corporation on the Record Date for such dividend.

• The amount of dividends payable on Class ABII Preferred Stock for each full Dividend Period shall be computed by dividing by four (4) the annual rate per share set forth in subparagraph 2(a) above.

• The dividends payable in respect of the Class ABII Preferred Stock shall be a mandatory obligation of the Corporation, subject only to the limitations set forth in Section 170 of the Delaware General Corporation Law with respect to funds legally permitted to be used for the payment of dividends (the "Legal Funds Requirement").

• All shares of Common Stock which may be issued upon conversion of Class ABII Preferred Stock shall be fully paid and nonassessable.

• The Corporation will endeavor to comply with all securities laws regulating the offer and delivery of shares of Common Stock upon conversion of Class ABII Preferred Stock and will endeavor to list such shares on each national securities exchange on which the Common Stock is listed.