Aggregate Stated Value definition
Examples of Aggregate Stated Value in a sentence
Dividends are payable on the Series A Preferred Stock on the last day of June and December of each year (each, a "Dividend Date") by increasing the Aggregate Stated Value by the amount of such dividends.
Each share of the Series A Preferred Stock shall be redeemable at the option of the holder, at any time after the date of issuance of such share, for the payment of cash by the Corporation to the holder equal to the Aggregate Stated Value of the shares of Series A Preferred Stock that holder elects to redeem (the “Redemption Payment Amount”).
When any dividends are added to the Aggregate Stated Value, such dividends shall, for all purposes of this Certificate of Designation, be deemed to be part of the Aggregate Stated Value for purposes of determining dividends thereafter payable hereunder and amounts thereafter convertible into Common Stock hereunder, and all references herein to the Aggregate Stated Value shall mean the Aggregate Stated Value, as adjusted pursuant to this Section 5.
Such increase in the Aggregate Stated Value shall constitute full payment of such dividends.
If the Company fails to deliver to the Holder such certificate or certificates pursuant to this Section prior to the 15th Trading Day after the Conversion Date, the Company shall, at the Holder's option, redeem in cash, from funds legally available therefor at the time of such redemption, all or a portion of the Aggregate Stated Value of the shares of Series A Preferred Stock then held by such Holder, plus the accumulated and unpaid dividends thereon, as requested by such Holder, in cash.
Each Conversion Notice shall specify the Aggregate Stated Value of the shares of Series A Preferred Stock to be converted.
Any Merger Consideration Reduction Amount shall reduce the Aggregate Stated Value on a dollar-for-dollar basis through the cancellation, on a pro rata basis among all of the holders of shares of Series B Preferred Stock, of that number of shares of Series B Preferred Stock as will equal the Merger Consideration Reduction Amount (the “Preferred Stock Reduction”).
For example, if the Holder purchases shares of Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted conversion of $10,000 Aggregate Stated Value of shares of Series A Preferred Stock, the Company shall be required to pay the Holder $1,000, plus interest.
All Debentures that are required to be surrendered for exchange in accordance with the provisions of this Section 5 shall, from and after the Company Exchange Date, be deemed to have been retired and canceled and the Aggregate Principal Amount of Debentures represented thereby exchanged for an equal Aggregate Stated Value of Preferred Stock for all purposes, notwithstanding the failure of the Holder to surrender such Debentures on or prior to such date.
The Holder and the Company shall maintain records showing the Aggregate Stated Value of shares of Series A Preferred Stock so converted and the dates of such conversions or shall use such other method, reasonably satisfactory to the Holder and the Company, so as not to require physical surrender of the certificate representing the shares of Series A Preferred Stock upon each such conversion.