Failure to Pay Dividends. Notwithstanding the foregoing provisions of this paragraph (5), unless full cumulative cash dividends (whether or not declared) on all outstanding shares of Senior Preferred Stock shall have been paid or contemporaneously are declared and paid or set apart for payment for all dividend periods terminating on or prior to the applicable redemption date, none of the shares of Senior Preferred Stock shall be redeemed, and no sum shall be set aside for such redemption, unless shares of Senior Preferred Stock are redeemed pro rata.
Appears in 9 contracts
Samples: Merger Agreement (Manufacturers Services LTD), Agreement and Plan of Merger (Thermadyne Holdings Corp /De), Preferred Stock and Warrant Subscription Agreement (Manufacturers Services LTD)
Failure to Pay Dividends. Notwithstanding the foregoing provisions of this paragraph Section (5), unless full cumulative cash dividends (whether or not declared) on all outstanding shares of Senior Preferred Stock shall have been paid or contemporaneously are declared and paid or set apart for payment for all dividend periods Dividend Periods terminating on or prior to the applicable redemption date, none of the shares of Senior Preferred Stock shall be redeemed, and no sum shall be set aside for such redemption, unless shares of Senior Preferred Stock are redeemed pro rata.
Appears in 1 contract
Samples: Subscription Agreement (World Almanac Education Group Inc)
