Distributions Upon Redemption. Upon redemption of the Purchaser’s Convertible Preferred Shares, Series B, the Company hereby confirms that the Purchaser shall be entitled to accrued and unpaid distributions at an annual rate of 5% (computed on the basis of a 360-day year consisting of twelve 30-day months as provided in the Certificate of Designation) from the issue date thereof to, but excluding, the redemption date, whether or not declared by the Board, as set forth in the Certificate of Designation.
Appears in 7 contracts
Samples: Convertible Preferred Securities Agreement (Ecology Coatings, Inc.), Convertible Preferred Securities Agreement (Ecology Coatings, Inc.), Convertible Preferred Securities Agreement (Ecology Coatings, Inc.)
Distributions Upon Redemption. Upon redemption of the Purchaser’s Convertible Preferred Shares, Series BC, the Company hereby confirms that the Purchaser shall be entitled to accrued and unpaid distributions at an annual rate of 5% (computed on the basis of a 360-day year consisting of twelve 30-day months as provided in the Certificate of Designation) from the issue date thereof to, but excluding, the redemption date, whether or not declared by the Board, as set forth in the Certificate of Designation.
Appears in 2 contracts
Samples: Convertible Preferred Securities Agreement (Ecology Coatings, Inc.), Convertible Preferred Securities Agreement (Ecology Coatings, Inc.)
Distributions Upon Redemption. Upon redemption of the Purchaser’s Convertible Preferred Shares, Series B, the Company hereby confirms that the Purchaser shall be entitled beentitled to accrued and unpaid distributions at an annual rate of 5% (computed on the basis of a 360-day year consisting of twelve 30-day months as provided in the Certificate of Designation) from the issue date thereof to, but excluding, the redemption date, whether or not declared by the Board, as set forth in the Certificate of Designation.
Appears in 1 contract
Samples: Securities Purchase Agreement (Ecology Coatings, Inc.)
Distributions Upon Redemption. Upon redemption of the Purchaser’s Convertible Preferred Shares, Series BShares pursuant to the Rights Offering, the Company hereby confirms that the Purchaser shall be is entitled to accrued and unpaid distributions at an annual rate of 511.0% (computed on the basis of a 360-day year consisting of twelve 30-day months as provided in the Certificate of Designation) from the issue date thereof to, but excluding, the redemption date, whether or not declared by the Board, as set forth in the Certificate of Designation.
Appears in 1 contract
Samples: Securities Purchase Agreement (Centerline Holding Co)
