Series S Preferred Stock definition

Series S Preferred Stock means the shares of the Company’s Series S Contingent Convertible Perpetual Non-Cumulative Preferred Stock, no par value and liquidation preference $100,000 per share.

Series S Preferred Stock means the shares of the Corporation’s Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock Series S, $1.00 par value, with a liquidation preference of $100,000 per share, designated in the Statement and described in the Officer’s Certificate delivered pursuant to Section 2.2 hereof.

Series S Preferred Stock means the Series S Convertible Preferred Stock of the Company, $.01 par value per share.

Examples of Series S Preferred Stock in a sentence

• Shares of Series S Preferred Stock are not subject to the operation of a sinking fund.

• The holders of Series S Preferred Stock shall not have any rights of preemption or rights to convert such Series S Preferred Stock into shares of any other class of capital stock of the Corporation.

• Dividends on shares of Series S Preferred Stock shall be non-cumulative.

• If the Liquidation Preference has been paid in full to all holders of Series S Preferred Stock and all other amounts payable upon liquidation, dissolution or winding up of the Corporation have been paid in full to all holders of any Parity Stock, the holders of Common Stock and any other Junior Stock shall be entitled to receive all remaining assets of the Corporation according to their respective rights and preferences.

• If the assets of the Corporation are not sufficient to pay in full the Liquidation Preference to all holders of Series S Preferred Stock and all holders of any Parity Stock, the amounts paid to the holders of Series S Preferred Stock and to the holders of all Parity Stock shall be pro rata in accordance with the respective aggregate liquidation preference of Series S Preferred Stock and all such Parity Stock.

• Notice of every redemption of shares of Series S Preferred Stock shall be mailed by first class mail, postage prepaid, addressed to the holders of record of such shares to be redeemed at their respective last addresses appearing on the stock register of the Corporation.

• The Corporation, at the option of its Board of Directors or any duly authorized committee of the Board of Directors of the Corporation, may redeem, subject to the prior approval of the Federal Reserve Board, out of funds legally available therefor, in whole or in part, the shares of Series S Preferred Stock at the time outstanding, at any time on any Dividend Payment Date on or after June 15, 2024, upon notice given as provided in Section 6(b) below.

• Notwithstanding the foregoing, if the Series S Preferred Stock is held in book-entry form through DTC, the Corporation may give such notice in any manner permitted by DTC.

• In case of any redemption of only part of the shares of Series S Preferred Stock at the time outstanding, the shares of Series S Preferred Stock to be redeemed shall be selected either pro rata from the holders of record of Series S Preferred Stock in proportion to the number of Series S Preferred Stock held by such holders as the Board of Directors of the Corporation or any duly authorized committee of the Board of Directors of the Corporation may determine to be fair and equitable.

• The holders of Series S Preferred Stock shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Corporation other than what is expressly provided for in this Section 5.

More Definitions of Series S Preferred Stock

Series S Preferred Stock means the shares of Series S Redeemable Preferred Stock, par value $.0l per share, of SS/L Bermuda.

Series S Preferred Stock means shares of the Company’s 5.90% Fixed-to-Floating Rate Non-Cumulative Perpetual Class A Preferred Stock, Series S, no par value, with a liquidation preference amount of $25,000 per share, designated and described in the Certificate of Designation.

Series S Preferred Stock has the meaning set forth in Section 1 hereof.