Series 1 Preferred definition

Series 1 Preferred means the Company's Series 1 Convertible Preferred Stock, par value $.01 per share, which Series 1 Preferred Stock is convertible into shares of Common Stock. "Series 1 Holders" means the Xxxxxxx Holders and the Impax Holders.

Series 1 Preferred means the 9,029,447 shares of Series 1 Convertible Participating Preferred Stock, par value $0.001 per share, of the Company, that are convertible, after giving effect to the Transaction, into 9,029,447 shares of Common Stock.

Series 1 Preferred means, collectively, the Series 1-A Convertible Preferred Stock and the Series 1-B Convertible Preferred Stock.

Examples of Series 1 Preferred in a sentence

• Dividends paid on the shares of Series 1 Preferred Stock in an amount less than the total amount of such dividends at the time accrued and payable on such shares shall be allocated pro rata on a share-by-share basis among all such shares at the time outstanding.

• Any such Preferred Units that are reclassified into Series 1 Preferred Limited Partnership Units shall have the rights, privileges, restrictions and conditions set out herein.

• On or after December 19, 2015, the Series 1 Preferred Shares will be convertible at the option of the holder into MFC common shares, the number of which is determined by a prescribed formula, and is subject to the right of MFC prior to the conversion date to redeem for cash or find substitute purchasers for such preferred shares.

• In accordance with the terms and limitations of such Preferred Units, each Series 2 Preferred Limited Partnership Unit may be reclassified into a Series 1 Preferred Limited Partnership Unit.

• In the event the Bank shall redeem shares of Series 1 Preferred Stock, notice of such redemption shall be given by first class mail, postage prepaid, mailed not less than fifteen (15) nor more than sixty (60) days prior to the Redemption Date, to each record holder of the shares to be redeemed, at such holder’s address as the same appears on the books of the Bank.

• The Partnership shall give notice in writing not less than 25 days nor more than 60 days prior to the applicable Series 1 Reclassification Date of its intention to redeem such Series 1 Preferred Limited Partnership Units to each person who at the date of giving such notice is the Holder of Series 1 Preferred Limited Partnership Units to be redeemed.

• Series 1 Preferred Limited Partnership Units are not subject to the operation of a sinking fund.

• Dividends due pursuant to paragraph (A) of this Section shall begin to accrue on outstanding shares of Series 1 Preferred Stock from the Quarterly Dividend Payment Date next preceding March 31, 1994.

• Such payment shall be made by cheque payable at par at any branch in Canada of the Partnership’s bankers for the time being or by any other reasonable means the Partnership deems desirable and shall be a full and complete discharge of the Partnership’s obligation to pay the Redemption Price owed to the Holders of Series 1 Preferred Limited Partnership Units so called for redemption unless the cheque is not honoured when presented for payment.

• Each holder of a share of Series 1 Preferred Stock shall have the right, at his option, at any time or from time to time to convert such share into six (6) fully paid and nonaccessable shares of the Bank’s common stock, $.01 par value per share (the “Common Stock”).

More Definitions of Series 1 Preferred

Series 1 Preferred has the meaning set forth in the recitals hereto, provided, that for the purposes of Articles II and III hereof "Series 1 Preferred" (including any defined term used in such Articles incorporating the term "Series 1 Preferred") shall include the Series 2 Preferred to the same extent and degree as the Series 1 Preferred."

Series 1 Preferred shall have the meaning set forth in Section 4.1(b)(i).

Series 1 Preferred has the meaning set forth in Section 2.3(a).