Payment of Dividend. Dividends shall be cumulative and payable in kind or Common Stock of the Company, at the election of the Company, on each Preferred Share as of the date of issuance and shall be payable in accordance with the Certificate of Designation and before the payment of any dividend on the Common Stock.
Appears in 2 contracts
Samples: Subscription and Securities Purchase Agreement (Avitar Inc /De/), Subscription and Securities Purchase Agreement (Avitar Inc /De/)
Payment of Dividend. Dividends shall be cumulative and payable in kind or Common Stock of the Company, at the election of the Company, Company on each Preferred Share as of the date of issuance and shall be payable in accordance with the Certificate of Designation and before the payment of any dividend on the Common Stock.
Appears in 1 contract
Samples: Subscription and Securities Purchase Agreement (Speedemissions Inc)
Payment of Dividend. Dividends shall be cumulative and payable in cash, in kind or Common Stock of the Company, at the election of the Company, on each Preferred Share as of the date of issuance and shall be payable in accordance with the Certificate of Designation and before the payment of any dividend on the Common Stock.
Appears in 1 contract
Samples: Subscription and Securities Purchase Agreement (Next Inc/Tn)
