Common use of Preferred Share Provisions Clause in Contracts

Preferred Share Provisions. Each one one-thousandth of a Preferred Share, if issued, will, among other things: • not be redeemable; • entitle holders to quarterly dividend payments in an amount per share equal to the aggregate per share amount of all cash dividends, and the aggregate per share amount (payable in kind) of all non-cash dividends or other distributions other than a dividend payable in Common Shares or a subdivision of the outstanding Common Shares (by reclassification or otherwise), declared on Common Shares since the immediately preceding quarterly dividend payment date; and • entitle holders to one vote on all matters submitted to a vote of the shareholders of the Company. The value of one one-thousandth interest in a Preferred Share should approximate the value of one Common Share.

Appears in 2 contracts

Samples: Shareholders Rights Agreement (United Maritime Corp), Shareholders Rights Agreement (Seanergy Maritime Holdings Corp.)

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Preferred Share Provisions. Each one one-thousandth of a Preferred Share, if issued, will, among other things: · not be redeemable; · entitle holders to quarterly dividend payments in an amount per share equal to the aggregate per share amount of all cash dividends, and the aggregate per share amount (payable in kind) of all non-cash dividends or other distributions other than a dividend payable in Common Shares or a subdivision of the outstanding Common Shares (by reclassification or otherwise), declared on Common Shares since the immediately preceding quarterly dividend payment date; and · entitle holders to one vote on all matters submitted to a vote of the shareholders of the Company. The value of one one-thousandth interest in a Preferred Share should approximate the value of one share of Common ShareShares.

Appears in 1 contract

Samples: Shareholders Rights Agreement (Nordic American Offshore Ltd.)

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Preferred Share Provisions. Each one one-thousandth of a Preferred Share, if issued, will, among other things: not be redeemable; entitle holders to quarterly dividend payments in an amount per share equal to the aggregate per share amount of all cash dividends, and the aggregate per share amount (payable in kind) of all non-cash dividends or other distributions other than a dividend payable in Common Shares or a subdivision of the outstanding Common Shares (by reclassification or otherwise), declared on Common Shares since the immediately preceding quarterly dividend payment date; and entitle holders to one vote on all matters submitted to a vote of the shareholders of the Company. The value of one one-thousandth interest in a Preferred Share should approximate the value of one Common Share.

Appears in 1 contract

Samples: Shareholders' Rights Agreement (United Maritime Corp)

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