Class B Preferred Share definition
Examples of Class B Preferred Share in a sentence
The Corporation may, upon the giving of such notice, if any, and following of such procedures as the Board may determine from time to time convert at any time the whole or from time to time each Class B Preferred Share for a Common Share.
In the alternative, the Corporation at its sole option may satisfy the portion of the Redemption Amount equal to the fair market value of that number of shares of Acquiror Class A Common Stock equal to the Share Exchange Ratio by delivering or arranging for Acquiror or Acquiror Sub 2 to deliver to registered holders of Class B Preferred Shares for each Class B Preferred Share to be redeemed, that number of shares of Acquiror Class A Common Stock.
If any Class B Preferred Stock is outstanding, if and for so long as distributions are not paid in full upon the Class B Preferred Stock, all distributions authorized upon the Class B Preferred Stock shall be authorized and paid pro rata so that the amount of distributions authorized and paid per Class B Preferred Share shall in all cases bear to each other the same ratio that accumulated distributions per Class B Preferred Share bear to each other.
Upon the Effective Time, each Class B Preferred Share of GenomeDx Canada issued and outstanding immediately prior to the Effective Time shall be converted automatically into one (1) share of Series B Preferred Stock, par value $0.0001 per share, of GenomeDx Delaware (the “Series B Preferred”).
Holders of the outstanding Class B Preferred Stock shall be entitled to receive, when, as and if authorized by the Board in its sole discretion, cumulative preferential distributions at the Applicable Rate on the $1,000.00 liquidation preference of each Class B Preferred Share (the “Class B Preferred Distribution Rate”), compounded quarterly and which shall accrue and be cumulative from the date of issuance and shall be payable when declared by the Board (a “Class B Preferred Distribution Payment Date”).
Subject to the specific provisions provided for in these Terms and Conditions, each Class B Preferred Share shall benefit from the same rights attached to a Company’s ordinary share and shall be subject to the same obligations attached to such ordinary share.
Dividends will accumulate from day to day on each Class B Preferred Share from time to time outstanding at a rate equivalent to 8% per year on $2.50 and will be paid at the end of each of Amalco's fiscal quarters if and when declared by the Board of Directors of Amalco out of profits or surplus of Amalco lawfully available therefor.
The holders of the Class B Preferred ------------------------ Stock shall be entitled to receive, when and as declared by the Board of Directors, out of any assets or funds of the Corporation at the time legally available for the payment of dividends under the laws of the State of Michigan, dividends at the rate of One Hundred Dollars ($100.00) per Class B Preferred Share per annum, payable quarterly on dates to be fixed by the Board of Directors of the Corporation.
Any other type and amount of property in respect of any dividends contemplated by Section 4.1(c) hereof shall be issued, transferred and/or delivered by the Corporation in such manner as the Board of Directors shall determine, and the issuance, transfer and/or delivery thereof by the Corporation to each holder of a Class B Preferred Share shall satisfy the dividend represented thereby.
Each CyberSentry preferred share that is issued and outstanding immediately prior to the Effective Time shall be converted into one Class B Preferred Share.