Cancellation of Subordinated Debenture, Dividends and Stock Sample Clauses

Cancellation of Subordinated Debenture, Dividends and Stock. Don and ----------------------------------------------------------- Xxxxx shall deliver to NAG an Affidavit of Lost Debenture in the form and substance of Exhibit 5.3(a) (without bond or insurance being required) with -------------- respect to that Subordinated Debenture, dated June 10, 1996, in the original principal amount of $93,900, made by NAG and payable to Don. Don hereby agrees that no accrued interest thereunder shall be due and payable by NAG. Don and Xxxxx shall deliver, and shall cause each of P. & X. Xxxxxxxx, L.L.C. ("P&J") --- and New Orleans Video Poker Company, Inc. ("NOV") to deliver to NAG Lost Stock --- Affidavits in the form and substance of Exhibit 5.3(b) (Don), Exhibit 5.3(c) -------------- -------------- (P&J) and Exhibit 5.3(d) (NOV) (without bond or insurance being required) -------------- representing the shares of common stock of NAG formerly owned by Don (824,000 shares), P&J (1,279,000 shares) and NOV (450,000 shares), respectively, along with Acts of Redemption evidencing the redemption of such shares in the form and substance of Exhibit 5.3(e) (Don), Exhibit 5.3(f) (P&J), and Exhibit 5.3(g) -------------- -------------- -------------- (NOV). Don represents and warrants to NAG that he has the power to cause, and will cause, each of P&J and NOV to comply with the provisions of this Agreement and execute the Lost Stock Affidavits and the Acts of Redemption.
Sample 1
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Cancellation of Subordinated Debenture, Dividends and Stock. Don ----------------------------------------------------------- shall deliver to NAG on March 31, 1999, the original of the Subordinated Debenture, dated June 10, 1996, in the original principal amount of $93,900, made by NAG and payable to Don, which Subordinated Debenture shall be marked "Canceled", and Don hereby agrees that no accrued interest thereunder shall be due and payable by NAG and shall also be considered canceled. Don further agrees that all accrued dividends on the Class A Preferred Stock of NAG owned by Xxx xxxxx to its conversion into common stock shall be deemed canceled and no such dividends shall ever be required to be declared or paid to Don or any party claiming through him. Don also agrees that all shares of common stock of NAG owned by Don (824,000 shares), P. & X. Xxxxxxxx, L.L.C. (1,279,000 shares) and New Orleans Video Poker Company, Inc. (450,000 shares) shall be deemed to be repurchased and redeemed by NAG without further consideration on the earlier of (i) the day following the vote by the shareholders of NAG (either at a duly called meeting or by written consent) on the approval or ratification of such of the transactions contemplated by this Agreement as NAG shall submit to the shareholders for approval or ratification, or (ii) upon written notice to Don, P. & X. Xxxxxxxx, L.L.C. and New Orleans Video Poker Company, Inc. that the repurchase and redemption shall be deemed effective (the "Redemption Date"). On the Redemption Date, Don shall deliver, and shall cause each of P. & X. Xxxxxxxx, L.L.C. and New Orleans Video Poker Company, Inc. to deliver to NAG for cancellation the original stock certificates or a Lost Stock Affidavit (without bond or insurance being required) representing the repurchased and redeemed shares noted above, which certificates shall be duly and properly endorsed reflecting NAG as the transferee. After the date of this Agreement, Don shall not, and shall cause each of P. & X. Xxxxxxxx, L.L.C. and New Orleans Video Poker Company, Inc. not to, sell, assign, pledge, encumber, hypothecate or otherwise transfer or dispose of such repurchased and redeemed shares, or otherwise restrict in any way his or their ability to deliver such repurchased and redeemed shares on the Redemption Date. Don represents and warrants to NAG that he has the power to cause, and will cause, each of P. & X. Xxxxxxxx, L.L.C. and New Orleans Video Poker Company, Inc. to comply with the provisions of this Agreement.
Sample 1

Related to Cancellation of Subordinated Debenture, Dividends and Stock

  • Dividends and Redemptions 70 8.12 Transactions with Affiliates ......................................................... 70 8.13

  • Dividends and share redemption (a) Except as permitted under paragraph (b) below, the Company shall not (and will ensure that no other member of the Group will):

  • Dividends and Redemption Price After receipt of the Federal Funds or similar same-day funds and instructions from the Fund described in Section 3.3 above, the Paying Agent shall pay to the Holders (or former Holders) entitled thereto (i) on each Dividend Payment Date, dividends on the AMPS, and (ii) on any date fixed for redemption, the redemption price of any shares of AMPS called for redemption. The amount of dividends for any Dividend Period to be paid by the Paying Agent to Holders will be determined by the Fund as set forth in Section 2 of Part I of the Articles Supplementary. The redemption price to be paid by the Paying Agent to the Holders of any shares of AMPS called for redemption will be determined as set forth in Section 3 of Part I of the Articles Supplementary. The Paying Agent shall have no duty to determine the redemption price and may rely on the amount thereof set forth in the Notice of Redemption.

  • Conversion of Subordinated Units (a) All of the Subordinated Units shall convert into Common Units on a one-for-one basis on the first Business Day following the distribution of Available Cash to Partners pursuant to Section 6.3(a) in respect of the final Quarter of the Subordination Period.

  • Certain Dividends and Distributions If the Issuer, at any time while this Warrant is outstanding, shall:

  • Restriction on Redemption and Cash Dividends So long as any Notes are outstanding, the Company shall not, directly or indirectly, redeem, or declare or pay any cash dividend or distribution on, any securities of the Company without the prior express written consent of the Buyers.

  • Redemption of Preferred Stock Whenever the Corporation shall be permitted and shall elect to redeem shares of Preferred Stock in accordance with the terms of the Certificate of Designations, it shall (unless otherwise agreed to in writing with the Depositary) give or cause to be given to the Depositary, not less than 35 days and not more than 65 days prior to the Redemption Date (as defined below), notice of the date of such proposed redemption of Preferred Stock and of the number of such shares held by the Depositary to be so redeemed and the applicable redemption price, which notice shall be accompanied by a certificate from the Corporation stating that such redemption of Preferred Stock is in accordance with the provisions of the Certificate of Designations. On the date of such redemption, provided that the Corporation shall then have paid or caused to be paid in full to the Depositary the redemption price of the Preferred Stock to be redeemed, plus an amount equal to any declared and unpaid dividends (without accumulation of any undeclared dividends) thereon to the date fixed for redemption, in accordance with the provisions of the Certificate of Designations, the Depositary shall redeem the number of Depositary Shares representing such Preferred Stock. The Depositary shall mail notice of the Corporation’s redemption of Preferred Stock and the proposed simultaneous redemption of the number of Depositary Shares representing the Preferred Stock to be redeemed by first-class mail, postage prepaid, not less than 30 days and not more than 60 days prior to the date fixed for redemption of such Preferred Stock and Depositary Shares (the “Redemption Date”), to the Record Holders of the Receipts evidencing the Depositary Shares to be so redeemed at their respective last addresses as they appear on the records of the Depositary; but neither failure to mail any such notice of redemption of Depositary Shares to one or more such Holders nor any defect in any notice of redemption of Depositary Shares to one or more such Holders shall affect the sufficiency of the proceedings for redemption as to the other Holders. Each such notice shall be prepared by the Corporation and shall state: (i) the Redemption Date; (ii) the number of Depositary Shares to be redeemed and, if less than all the Depositary Shares held by any such Holder are to be redeemed, the number of such Depositary Shares held by such Holder to be so redeemed; (iii) the redemption price or the manner of its calculation; (iv) the place or places where Receipts evidencing such Depositary Shares are to be surrendered for payment of the redemption price; and (v) that dividends in respect of the Preferred Stock represented by such Depositary Shares to be redeemed will cease to accrue on such Redemption Date. In case less than all the outstanding Depositary Shares are to be redeemed, the Depositary Shares to be so redeemed shall be selected either pro rata or by lot.

  • Dividends, Distributions and Redemptions To enable each Fund to pay dividends or other distributions to shareholders of each such Fund and to make payment to shareholders who have requested repurchase or redemption of their shares of each such Fund (collectively, the "Shares"), the Custodian shall release cash or Securities insofar as available. In the case of cash, the Custodian shall, upon the receipt of Instructions, transfer such funds by check or wire transfer to any account at any bank or trust company designated by each such Fund in such Instructions. In the case of Securities, the Custodian shall, upon the receipt of Special Instructions, make such transfer to any entity or account designated by each such Fund in such Special Instructions.

  • Termination of Subordination Period, Conversion of Subordinated Units and Extinguishment of Cumulative Common Unit Arrearages Notwithstanding any provision of this Agreement, if the General Partner is removed as general partner of the Partnership under circumstances where Cause does not exist and Units held by the General Partner and its Affiliates are not voted in favor of such removal, (i) the Subordination Period will end and all Outstanding Subordinated Units will immediately and automatically convert into Common Units on a one-for-one basis and (ii) all Cumulative Common Unit Arrearages on the Common Units will be extinguished.

  • Voting Rights; Dividends and Interest, etc (a) Unless and until an Event of Default shall have occurred and be continuing:

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