Common use of Liquidating Dividends Clause in Contracts

Liquidating Dividends. If the Corporation declares or pays a dividend upon the Common Shares payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles, consistently applied) except for a share dividend payable in Common Shares (a "Liquidating Dividend"), then the Corporation shall pay to the Holder of this Warrant at the time of payment thereof the Liquidating Dividend which would have been paid to such Holder on the Common Shares had this Warrant been fully exercised immediately prior to the date on which a record is taken for such Liquidating Dividend, or, if no record is taken, the date on which the record holders of Common Shares entitled to such dividends are to be determined.

Liquidating Dividends. If the Corporation Company declares or pays a dividend upon the shares of Common Shares Stock payable otherwise than in cash out of earnings or earned surplus (determined in accordance with generally accepted accounting principles, consistently applied) except for a share stock dividend payable in shares of Common Shares Stock (a "Liquidating DividendLIQUIDATING DIVIDEND"), then the Corporation Company shall pay to the Registered Holder of this Warrant at the time of payment thereof the Liquidating Dividend which would have been paid to such the Registered Holder on the Common Shares Warrant Stock had this Warrant been fully exercised immediately prior to the date on which a record is taken for such Liquidating Dividend, or, if no record is taken, the date on as of which the record holders of Common Shares Stock entitled to such dividends are to be determined.