Initial Distribution. Notwithstanding the terms of Section 2.a., the initial distribution payable on the Series A Convertible CRA Shares shall be equal to the quarterly distribution then payable on the Common Shares, prorated for the period from the date of issuance of the Series A Convertible CRA Shares through the record date for such distribution.
Appears in 2 contracts
Samples: Trust Agreement (Chartermac), Charter Municipal Mortgage Acceptance Co
Initial Distribution. Notwithstanding the terms of Section 2.a., the initial distribution payable on the Series A Convertible CRA Preferred Shares shall be equal to the quarterly distribution then payable on the Common Shares, prorated for the period from the date of issuance of the Series A Convertible CRA Preferred Shares through the record date for such distribution.
Appears in 2 contracts
Samples: Charter Municipal Mortgage Acceptance Co, Charter Municipal Mortgage Acceptance Co
Initial Distribution. Notwithstanding the terms of Section 2.a., the initial distribution payable on upon the Series A Convertible issuance of each CRA Shares Preferred Share shall be equal to the quarterly distribution then payable on the a Common SharesShare for such period, prorated for the period from the date of issuance of the Series A Convertible such CRA Shares Preferred Share through the record date for such distribution.
Appears in 1 contract
Samples: Trust Agreement (Chartermac)