Preference Shares. The term “
Preference Shares. The Corporation shall, where this clause is operative, take such steps as may be required or are desirable to effect the conversion of the issued and outstanding Class 3 Preference Shares into Common Shares.
Preference Shares. When duly issued and paid for pursuant to and in accordance with the terms of the Underwriting Agreement and the Resolutions the Preference Shares will be validly issued, fully paid, non-assessable shares of the Company and will not be subject to any statutory pre-emptive or similar rights under Bermuda law or the Constitutional Documents.
Preference Shares. (a) The Company may issue preference shares and issued shares may be converted into preference shares provided that the rights of the holders of the preference shares with respect to the repayment of capital, participation in surplus assets and profits, cumulative or non-cumulative dividends, voting and priority of payment of capital and dividends in relation to other shares or other classes of preference shares are:
(i) as set out in Schedule 1; or
(ii) as approved by Special Resolution.
(b) The rights of holders of preference shares issued by the Company other than pursuant to Schedule 1, but in accordance with the Act, are determined by the terms of issue of those preference shares and the relevant resolution of the Company and are not determined by or affected by the rights set out in Schedule 1.
(c) Subject to the Act and the Listing Rules, the Company may issue preference shares which are, or are at the option of the Company to be liable, to be redeemed or to be converted into other shares on such conditions and in such a manner as the Directors decide under the terms of issue of the preference shares.
(d) Subject to the Act and the Listing Rules, the Company may issue any combination of fully paid, partly paid or unpaid preference shares.
(e) Despite this rule 2.2 and Schedule 1, the Company may not issue a preference share that confers on the holder rights that are inconsistent with those specified in the Listing Rules, except to the extent of any waiver or modification of the Listing Rules.
Preference Shares. (a) The Parent shall not redeem the Preference Shares using the proceeds of any Loan.
(b) Promptly following redemption in full of the Preference Shares the Parent shall:
(i) notify the Agent of the same; and
(ii) procure that its articles of association are amended to remove any reference to the Preference Shares.
Preference Shares. PLC and NV undertake to procure that the NV Preference Shares are cancelled prior to, or at, the Effective Date.
Preference Shares. The Company will not, and will procure that none of its Subsidiaries will, issue any shares or stock which are redeemable at the option of the holder thereof or which mature or are mandatorily redeemable or which are convertible or exchangeable for Borrowed Money of the Group save as set out in Schedule 9.1.12.
Preference Shares. Company’s convertible preferred shares, par value US$0.0001 per share, with rights and privileges as set forth in the Shareholders’ Agreement;
Preference Shares. Exchange Immediately following execution of the Receivables Exchange, the Company will procure that Asset Co issues an aggregate amount of US$200,000,000 of Preference Shares in the following proportions:
(a) 90% to Senior Creditor SPV; and
(b) 10% to New Noble, in consideration for which, pursuant to the Schemes, each Common Scheme Creditor will release and discharge a principal amount of Accepted Common Scheme Claims (excluding accrued and unpaid interest in relation thereto) (which, in aggregate with all other Accepted Common Scheme Claims released pursuant to this step, shall be equal to the face value of the Preference Shares issued to Senior Creditor SPV), pro rata by reference to the proportion that each Common Scheme Creditor’s Accepted Common Scheme Claims bears to the aggregate amount of all Accepted Common Scheme Claims immediately following the Receivables Exchange (the “Preference Shares Exchange”).
Preference Shares. If the Next Financing does not occur prior to the expiration of this Warrant or if the Holder elects for the “Shares” to be the Company’s Series B-1 Preference Shares, “Shares” shall mean the Company’s Series B-1 Preference Shares.
