Class N Shares Sample Clauses
The 'Class N Shares' clause defines a specific category of shares within a company's share capital, outlining the rights, privileges, and restrictions associated with this class. Typically, such a clause will specify whether Class N Shares have voting rights, entitlement to dividends, or priority in the distribution of assets upon liquidation. For example, Class N Shares might be non-voting but carry preferential dividend rights. The core function of this clause is to clearly distinguish the rights of Class N shareholders from those of other share classes, thereby ensuring clarity and preventing disputes regarding shareholder entitlements.
Class N Shares. Shares of the Company’s $0.01 par value common stock that have been designated as Class N.
Class N Shares. For transfer agency services provided directly by Janus Services, Class N Shares of the Trust shall compensate Janus Services reasonable out-of-pocket expenses incurred in connection with any services performed directly by Janus Services as transfer agent.
Class N Shares. On the Closing Date the Vendors shall be issued for a nominal subscription price, that number of Class N Shares equal to the number of Class X Shares issued to the Vendors pursuant to Sections 2.03(b) and (c). The Vendors agree that at the time of the conversion of the Class X Shares into Common Shares, an equivalent number of Class N Shares shall be surrendered by the relevant Vendor or Vendors to IMSC for cancellation. Upon determination of the number of Common Shares into which the Vendors are entitled to exchange their Class E Shares, IMSC shall issue to the Vendors an equivalent number of Class N Shares for a nominal subscription price. Each of the Vendors agree that at the time of conversion of Class E Shares into Common Shares, an equivalent number of Class N Shares will be surrendered by the Vendor to IMSC for cancellation.