Within one Business Day. of the occurrence of a Registration Default, the Corporation will notify the holder of the shares of Class E Preferred Stock of such Registration Default. In the event of a Registration Default, the applicable Additional Dividend shall accrue and be cumulative with respect to each outstanding share of Class E Preferred Stock on the last day of any respective Additional Dividend Period. Any accrued Additional Dividends shall be payable at each Dividend Payment Date in the same manner as set forth in subparagraph (2) above. Upon the cure of all Registration Defaults, the accrual of Additional Dividends will cease unless and until a new Registration Default shall occur.
Appears in 2 contracts
Samples: Deposit Agreement (Kimco Realty Corp), Purchase Agreement (Price Reit Inc)
Within one Business Day. of the occurrence of a Registration Default, Default the Corporation will notify the holder of the shares of Class E A Preferred Stock of such Registration Default. In the event of a Registration Default, the applicable Additional Dividend shall accrue and be cumulative with respect to each outstanding share of Class E A Preferred Stock on the last day of any respective Additional Dividend Period. Any accrued Additional Dividends shall be payable at each Dividend Payment Date in the same manner as set forth in subparagraph (2) above. Upon the cure of all Registration Defaults, the accrual of Additional Dividends will cease unless and until a new Registration Default shall occur.
Appears in 2 contracts
Samples: Purchase Agreement (Price Reit Inc), Deposit Agreement (Kimco Realty Corp)