Examples of Class A-2 Common Stock in a sentence
Special Dividends shall cumulate and accrue and when issued shall be issued in additional shares of Class A-2 Common Stock.
Immediately thereafter, each share of Class A-2 Common Stock shall automatically be converted into the right to receive one (1) fully paid and non-assessable share of Class A Common Stock (including fractional shares) (the “Conversion”).
Any purported attempt by a holder of Class A-2 Common Stock to Transfer any shares of Class A-2 Common Stock in violation of this Section 1 shall be null and void ab initio, such holder shall continue to be regarded by the Corporation as the owner, and the Corporation shall not recognize any such Transfer or accord to any such purported transferee any rights as a holder of shares of Class A-2 Common Stock of the Corporation.
In the event that less than all of the shares of Class A-2 Common Stock represented by a certificate are redeemed, a new certificate representing the unredeemed shares of Class A-2 Common Stock shall promptly be issued to the holder of such a certificate.
The holder of a share of Class A-2 Common Stock that is to be permissibly transferred must notify the Secretary of the Corporation and any transfer agent for the Class A-2 Common Stock, according to instructions provided by the Corporation or any such transfer agent, of such proposed sale, transfer or other disposition at least three (3) business days in advance of the effective date of such permitted sale, transfer or other disposition.
An issuable PIK Class A-2 Common Share shall not be issued and paid to any holder who is not also the holder of the underlying share of Class A-2 Common Stock in respect of which such PIK Class A-2 Common Share became accrued and issuable.
The Corporation shall, to the extent required by law, legend the stock certificates evidencing shares of Class A-2 Common Stock to indicate that the shares represented by such certificates are subject to the restrictions set forth in this Article VIII.
Subject to Section 4.4(J), the Corporation shall make available to each holder of Class A-2 Common Stock information regarding the occurrence of any (1) Special Dividend Accrual Event (for the first day on which the Special Dividends accrue and for the day on which such Special Dividends cease), (2) Special Dividend Satisfaction Date, and (3) Conversion End Date, in each case within three (3) business days following such occurrences.
Such transmittal form or transfer instruction shall state the number of shares of Class A-2 Common Stock held by such holder; provided, that the Corporation shall certify the number of shares of Class A-2 Common Stock held by such holder to facilitate such Conversion.
Shares of Class A-2 Common Stock that accrue as a result of Special Dividends and are issuable as payment of Special Dividends are referred to in unissued form as “PIK Class A-2 Common Shares.” Special Dividends shall not accrue on or be issuable in respect of PIK Class A-2 Common Shares.