Dividend Obligations definition

Dividend Obligations means obligations of the Issuer to a shareholder of the Issuer in connection with the receipt by such shareholder of cash or other assets on account of dividends or distributions on Capital Stock of the Issuer; provided, however, that (i) the making of such dividend or distribution is permitted by the provisions of this Indenture described below under Section 1010, (ii) such obligations have a final scheduled maturity date of not more than 12 months from the date of incurrence thereof, (iii) such obligations are incurred within 90 days of receipt by such shareholder of such dividend or distribution, (iv) the principal amount of any such obligations shall not exceed the cash or other assets to be received by such shareholder in connection with the applicable dividend or distribution, (v) such obligations are unsecured, are not guaranteed by any Subsidiary of the Issuer and are subordinated in right of payment to the Notes, (vi) for the avoidance of doubt, the Applicable Amount shall not be increased by the amount of such obligations, (vii) in no event shall any such obligations be refinanced or reclassified and (viii) such obligations are designated as “Dividend Obligations” pursuant to an Officer’s Certificate on the date of their incurrence.
Sample 1Sample 2
Dividend Obligations means the dividend obligations determined consistent with past practices of the Ceding Company and in accordance with Schedule 1.1(C) with respect to the Par Policies other than the Regulatory Closed Block.
Sample 1Sample 2
Dividend Obligations means, with respect to any Dividend Payment Date, all obligations of the Pledgor under the Certificate of Designations to pay any dividend declared to be due and payable on such Dividend Payment Date, whether or not such amounts are actually paid on such date, and shall, in any event, include any such Obligations that are not lawfully payable on such Dividend Payment Date for any reason (including, but not limited to, the Pledgor having insufficient Surplus to pay the Surplus Shortfall Amount) but become lawfully payable at a later date.
Sample 1Sample 2

Examples of Dividend Obligations in a sentence

  • NCI Reaches Agreement with Holders of Convertible Preferred Stock to Eliminate Future Dividend Obligations The Company also announced today that it has reached an agreement in principle with Clayton, Dubilier & Rice and affiliates (CD&R), the holders of NCI’s convertible preferred shares, to eliminate NCI’s quarterly dividend obligation on the preferred shares, which accrued at an annual rate of 12% unless paid in cash at 8%.


More Definitions of Dividend Obligations

Dividend Obligations means obligations of Holdings to a direct or indirect shareholder of Holdings in connection with the receipt by such shareholder of cash or other assets on account of dividends or distributions on Equity Interests of Holdings; provided, however, that (i) the making of such dividend or distribution is permitted by Section 6.06, (ii) such obligations have a final scheduled maturity date of not more than 12 months from the date of incurrence thereof, (iii) such obligations are incurred within 90 days of receipt by such shareholder of such dividend or distribution, (iv) the principal amount of any such obligations shall not exceed the cash or other assets to be received by such shareholder in connection with the applicable dividend or distribution, (v) such obligations are unsecured, are not guaranteed by any Subsidiary of Holdings and are subordinated in right of payment to the Obligations, (vi) for the avoidance of doubt, the Applicable Amount shall not be increased by the amount of such obligations, (viii) in no event shall any such obligations be refinanced or reclassified and (ix) such obligations are designated as “Dividend Obligations” pursuant to an Officer's Certificate on the date of its incurrence.
Sample 1Sample 2

Related to Dividend Obligations

  • Core Units means such Units of the Trust that are issued to Core Investors with the condition that these are not redeemable for a period of two years from the close of the First Offer Period. Such Units are transferable with this condition, but otherwise shall rank pari passu with all other Units, save for this restriction. Any transfer of the Core Units, during the first two years of their issue as mentioned herein, shall be affected only on the receipt by the Registrar of a written acceptance of this condition by the transferee.

  • DSUs means the outstanding deferred share units issued under the DSU Plan.

  • Stock Units means investment units under the Deferred Delivery Plan, each of which is deemed to be equivalent to one share of Stock.

  • Stock Unit Account means the bookkeeping account established by the Company pursuant to Section 6.4.

  • Dividend Equivalent means any right granted under Section 6(e) of the Plan.

  • Dividend Equivalents means a right granted to a Participant under the Plan to receive the equivalent value (in cash or Shares) of dividends paid on Shares.

  • RSUs means that number of Restricted Stock Units listed in the Award Notice as “Restricted Stock Units Granted.”

  • Unit Account means a notional account opened and managed by Us for You, in which the Units are allocated following the receipt of the Premium from You and in which the Units are cancelled by Us for the purpose of paying the benefits or for recovering the applicable charges;

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Section 5.3.

  • PSUs means the outstanding performance share units governed by the performance share unit plan of the Company dated December 16, 2013, as amended from time to time;

  • Dividend Equivalent Unit means the right to receive a payment, in cash or Shares, equal to the cash dividends or other cash distributions paid with respect to a Share.

  • Stock Unit means a bookkeeping entry representing the equivalent of one Common Share, as awarded under the Plan.

  • Dividend Equivalent Rights means certain rights to receive cash payments as described in Section 3.5.

  • Stock Account means the account maintained on behalf of the Participant by the Custodian for the purpose of holding Stock acquired under the Plan.

  • Performance Units means an Award which may be earned in whole or in part upon attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Unvested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • Deferred Stock Units means the number of hypothetical Shares subject to an Election.

  • Restricted Share Units means an Award which may be earned in whole or in part upon the passage of time or the attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Dividend Parity Stock means any class or series of stock of the Corporation that ranks on a parity with the Series E in the payment of current dividends, including the Series A, the Series B, the Series C and the Series D.

  • Vested Units means those Units listed as vested Units in the books and records of the Partnership, as the same may be amended from time to time in accordance with this Agreement.

  • Dividend Periods means the Initial Dividend Period and each subsequent quarterly dividend period commencing on and including January 1, April 1, July 1 and October 1 of each year and ending on and including the day preceding the first day of the next succeeding Dividend Period, other than the Dividend Period during which any Class B Preferred Stock shall be redeemed pursuant to Section 5 hereof, which shall end on and include the Call Date with respect to the Class B Preferred Stock being redeemed.

  • Performance Share Units means Performance Share Units granted to an Eligible Individual under Section 9.1(b).

  • Vested LTIP Units has the meaning provided in Section 4.4(d) hereof.

  • Unvested Units means those Units listed as unvested Units in the books and records of the Partnership, as the same may be amended from time to time in accordance with this Agreement.

  • Performance Shares means Shares or an Award denominated in Shares which may be earned in whole or in part upon attainment of performance criteria established by the Administrator.

  • Deferred Stock Account means a bookkeeping account maintained by the Company for a Participant representing the Participant's interest in the shares credited to such Deferred Stock Account pursuant to Paragraph 7 hereof.