Examples of Class B Liquidation Preference in a sentence
Following receipt of the Class B Liquidation Preference Amount, the Class B Shares will not also participate in liquidation distributions to the Class A Shares.
Class B Liquidation Preference: Upon a Liquidation, prior to the Liquidation Preference Expiration Date, subject to the payment or provision for payment of the debts and other liabilities of New Topco, each outstanding Class B Share will be entitled to receive, out of the remaining assets of New Topco available for distribution to its stockholders, an amount equal to $10.61 per Class B Share (the “Class B Liquidation Preference Amount”) before any distribution will be made to the holders of Class A Shares.
Until each holder of shares of Class B EPS has received distributions equal to the Class B Liquidation Preference, no Junior Liquidating Distributions may be paid to holders of any other class or series of shares of beneficial interest in the Trust.
The initial Capital Account with respect to the Class B Preferred Units shall be Stated Class B Liquidation Preference.
In addition to being entitled to receive the Class B Liquidation Preference, upon the occurrence of any Liquidation Event the holders of 65 Class B EPS shall be entitled to participate, pursuant to the Class B Liquidation Participation Right, ratably with the holders of Trust Shares in any liquidating distributions to such holders.