Common use of Cessation of Rights Clause in Contracts

Cessation of Rights. The Preferred Shares shall be redeemed on the redemption date and thereafter such shares shall cease to be entitled to dividends and the holders thereof shall not be entitled to exercise any of the rights of shareholders in respect thereof, unless payment of the redemption price plus any dividends declared but unpaid thereon is not made on the redemption date, in which case the rights of the holders of such shares shall remain unaffected.

Cessation of Rights. The From and after the date specified for redemption in any such notice, the Preferred Shares shall be redeemed on the called for redemption date and thereafter such shares shall cease to be entitled to dividends and the holders thereof shall not be entitled to exercise any of the rights of shareholders in respect thereof, unless payment of the redemption price of the Preferred Shares plus any dividends declared but unpaid thereon is shall not be made on upon presentation of the redemption datecertificates in accordance with the foregoing provisions, in which case the rights of the holders of such shares shall remain unaffected.