Certain Restrictions on Liquidation Payments. In the event of any voluntary or involuntary dissolution of the Company (other than as set forth in any Certificate of Designations), Preferred Securityholders holding Company Preferred Securities or Company Parity Preferred Securities at the time outstanding shall be entitled to receive out of the assets of the Company legally available for distribution to Securityholders, before any distribution of assets is made to Common Securityholders or any other Company Junior Securities, liquidating distributions in respect of the Company Preferred Securities or Company Parity Preferred Securities in the amount of the liquidation preference, plus an amount equal to unpaid dividends, if any, thereon with respect to the current Dividend Payment accrued on a daily basis to the date of liquidation, plus an amount equal to unpaid Definitive Dividends for any prior Dividend Period, but without interest and without accumulation of unpaid Nondefinitive Dividends for any prior dividend period. If, upon any such liquidation, the liquidating distribution can be paid only in part because the Company has insufficient assets available to pay in full the aggregate Liquidation Distribution, then the amounts payable directly by the Company on the Company Preferred Securities or Company Parity Preferred Securities shall be paid on a pro rata basis.
Appears in 10 contracts
Samples: Limited Liability Company Agreement (Ubs Preferred Funding Trust Iii), Administration Agreement (UBS Preferred Funding Trust VIII), Limited Liability Company Agreement (UBS Preferred Funding Trust VIII)
