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Common use of Relative Seniority Clause in Contracts

Relative Seniority. In respect of rights to receive dividends and to participate in distributions or payments in the event of any liquidation, dissolution or winding up of the Corporation, the Series A Preferred shall rank senior to the Common Stock and any other stock of the Corporation ranking, as to dividends and upon liquidation, junior to the Series A Preferred (collectively, for purposes of the terms of the Series A Preferred, “Junior Stock”).

Appears in 2 contracts

Samples: Rights Agreement (Vestin Realty Trust II, Inc), Rights Agreement (Vestin Realty Trust I, Inc)

Relative Seniority. In respect of rights to receive dividends and to participate in distributions or payments in the event of any liquidationLiquidation, dissolution or winding up of the CorporationTrust, the Series A Preferred Shares shall rank senior to the Common Stock Shares and any other stock class or series of shares of beneficial interest of the Corporation Trust ranking, as to dividends and upon liquidationLiquidation, junior to the Series A Preferred Shares (collectively, for purposes of the terms of the Series A Preferred, “"Junior Stock”Shares").

Appears in 2 contracts

Samples: Merger Agreement (Equity Residential Properties Trust), Merger Agreement (Equity Residential Properties Trust)

Relative Seniority. In respect of rights to receive dividends and to participate in distributions or payments in the event of any liquidation, dissolution or winding up of the Corporationcorporation, the Series A D Preferred shall rank on a parity with the Series A Preferred, the Series B Preferred and the Series C Preferred and any other class or series of capital stock of the corporation not constituting Junior Stock (collectively, "Parity Stock"), and senior to the Common Stock common stock and any other class or series of capital stock of the Corporation corporation ranking, as to dividends and upon liquidation, junior to the Series A D Preferred (collectively, for purposes of the terms of the Series A Preferred, “"Junior Stock").

Appears in 1 contract

Samples: Merger Agreement (United Dominion Realty Trust Inc)