Common use of Dividend Clause in Contracts

Dividend. Each of the holders of Series B CCPS shall be entitled to payment of 8% (eight per cent) non- cumulative dividend per annum (calculated on the sum of the face value and premium paid) on each of the Series B CCPS by way of dividend from the Company in accordance with applicable Law as and when the Board of the Company declares any dividend. The dividends payable on the Series B CCPS shall be senior to dividend payments to holders of Series A CCPS and other Equity Shares of the Company. Subject to applicable Law, each of the holders of Series B CCPS shall be individually entitled, in addition and cumulative to the above, to participate in the distribution of the profits of the Company to the other shareholders of the Company (for the purpose of this paragraph all the Series B CCPS shall be assumed as if have been converted to Equity Shares at the Conversion Factor).

Dividend. Each of the holders of Series B D CCPS shall be entitled to payment of 8% (eight per cent) non- cumulative dividend per annum (calculated on the sum of the face value and premium paid) on each of the Series B D CCPS by way of dividend from the Company in accordance with applicable Law as and when the Board of the Company declares any dividend. The dividends payable on the Series B D CCPS shall be senior to dividend payments to holders of Series A CCPS and other Equity Shares of the Company. Subject to applicable Law, each of the holders of Series B D CCPS shall be individually entitled, in addition and cumulative to the above, to participate in the distribution of the profits of the Company to the other shareholders of the Company (for the purpose of this paragraph all the Series B D CCPS shall be assumed as if have been converted to Equity Shares at the Conversion Factor).

Dividend. Each of the holders of Series B C CCPS shall be entitled to payment of 8% (eight per cent) non- cumulative dividend per annum (calculated on the sum of the face value and premium paid) on each of the Series B C CCPS by way of dividend from the Company in accordance with applicable Law as and when the Board of the Company declares any dividend. The dividends payable on the Series B C CCPS shall be senior to dividend payments to holders of Series A CCPS and other Equity Shares of the Company. Subject to applicable Law, each of the holders of Series B C CCPS shall be individually entitled, in addition and cumulative to the above, to participate in the distribution of the profits of the Company to the other shareholders of the Company (for the purpose of this paragraph all the Series B C CCPS shall be assumed as if have been converted to Equity Shares at the Conversion Factor).

Dividend. Each of the holders of Series B A CCPS shall be entitled to payment of 8% (eight per cent) non- non-cumulative dividend per annum on each of the Series A CCPS (calculated on the sum of the face value and premium paid) on each of the Series B CCPS by way of dividend from the Company in accordance with applicable Law as and when the Board board of the Company declares any dividend. The dividends payable on the Series B A CCPS shall be senior to dividend payments to holders of Series A CCPS and other Equity Shares of the Company. Subject to applicable Law, each of the holders of Series B A CCPS shall be individually entitled, in addition and cumulative to the above, to participate in the distribution of the profits of the Company to the other shareholders of the Company in respect of the Series A CCPS (for the purpose of this paragraph all the Series B A CCPS shall be assumed as if have been converted to Equity Shares at the applicable Conversion Factor).