Preferred Share Ownership Limit Clause Samples
Preferred Share Ownership Limit. The term "Preferred Share Ownership Limit" shall mean 9.8 percent (in vote or value, whichever is more restrictive) of the outstanding preferred Equity Shares of the Trust, in the aggregate for all classes and series of preferred shares or by each separate class or series of preferred shares (whichever is more restrictive). The vote and value of outstanding preferred shares shall be determined by the Trustees in good faith, which determination shall be conclusive for all purposes of this Article V.
Preferred Share Ownership Limit. For purposes of Section 5.10 of the Charter, there shall be no Preferred Share Ownership Limit (as such term is defined in Section 5.10 of the Charter) with respect to holdings of Series A Preferred Stock, and each holder of the Series A Preferred Stock shall be deemed an Excepted Holder (as such term is defined in Section 5.10 of the Charter) for the purposes of the Preferred Share Ownership Limit with respect to its holdings of Series A Preferred Stock. For the avoidance of doubt, one Person can hold all of the outstanding shares of Series A Preferred Stock