ASSAC Series A Preferred Shares definition

ASSAC Series A Preferred Shares means up to a maximum of 1,000,000 ASSAC Preferred Shares, to be designated as ASSAC Series A Preferred Shares pursuant to the ASSAC Series A Preferred Certificate of Designations and issued to the respective holders pursuant to this Agreement and the Additional Acquisition Agreements; which ASSAC Series A Preferred Shares shall, among other things (but subject in all cases to the terms of the ASSAC Series A Preferred Certificate of Designations):

Examples of ASSAC Series A Preferred Shares in a sentence

• In addition, the 5% dividend on the ASSAC Series A Preferred Shares will also be payable in additional ASSAC Ordinary Shares at the Conversion Date and will reflect the Adjusted Purchase Price Values based upon the NAV Appraisals.

• Within sixty (60) days of receipt of such certificates and Partner List, ASSAC may, in the exercise of its sole discretion based upon legal advice of counsel, distribute or direct the distribution of certificates representing the applicable number of ASSAC Series A Preferred Shares to each Partner.

• In either example, the number of ASSAC Series A Preferred Shares always remains fixed but the Conversion Shares and Conversion Ratio change based upon the Adjusted Purchase Value of the Funds.

• The board of directors of ASSAC has duly authorized the issuance of the ASSAC Series A Preferred Shares and Conversion Shares pursuant to this Agreement and the Additional Acquisition Agreements, subject at all times to ASSAC obtaining the ASSAC Shareholder Approval required hereby.

• In either example, the number of ASSAC Series A Preferred Shares always remains fixed but the Conversion Shares and Conversion Ratio change based upon the Adjusted Purchase Value of the Fund.

• The Board of Directors of ASSAC may (but shall not be obligated to) distribute or direct the distribution of certificates representing the applicable number of ASSAC Series A Preferred Shares to each Shareholder following its receipt of such certificates and Shareholder List.

• The number of ASSAC Series A Preferred Shares always remains fixed but the Conversion Shares and Conversion Ratio change based upon the Adjusted Purchase Value of the Fund.

• The Fund may, following the Closing, at its option, either cause ASSAC to issue and thereafter distribute Series A Preferred Share certificates to the individual Fund Shareholders, or hold such share certificates for the benefit of the Fund Shareholders pending the automatic conversion of such ASSAC Series A Preferred Shares into Conversion Shares as contemplated pursuant to this Article II.

• In addition, the 5% dividend on the ASSAC Series A Preferred Shares will also be payable in additional ASSAC Ordinary Shares at the Conversion Date and will reflect the Adjusted Purchase Values based upon the NAV Appraisals.

• Such Merger Consideration shall be payable to all of the Partners of Stillwater Real Estate Fund in the form of 20,800 ASSAC Series A Preferred Shares, representing 100% of the $20.8 million Purchase Value attributable to the Fund as at December 31, 2009.