Examples of Class D Preferred Shares in a sentence
The Corporation is authorized to issue an unlimited number of Class A shares ("Common Shares"), an unlimited number of non-voting Convertible Class B Equity Shares ("Class B Shares"), an unlimited number of non-voting Class C Preferred Shares and an unlimited number of Class D Preferred Shares, issuable in series.
Any dividend payment made on the Class D Preferred Shares shall first be credited against the earliest authorized and declared but unpaid cash dividend with respect to the Class D Preferred Shares.
Holders of Class D Preferred Shares shall be entitled to receive, if, as, and when authorized and declared by the Board of Directors, out of assets of the Corporation legally available therefor, noncumulative cash dividends at an annual dividend rate determined from time to time in accordance with Section 4.6.2(a) hereof on the Liquidation Value, and no more.
Upon any such liquidation, dissolution, or winding-up of the Corporation, the holders of Class D Preferred Shares shall be entitled, before any distribution shall be made to the holders of common shares or any other Junior Stock, to be paid the full amount of the Liquidation Value, but the holders of Class D Preferred Shares shall not be entitled to any further payment with respect to such shares.
The amount payable on the outstanding Class D Preferred Shares in the event of any voluntary or involuntary liquidation, dissolution, or winding-up of affairs of the Corporation, out of the assets of the Corporation legally available for distribution to shareholders under applicable law, or the proceeds thereof, shall be equal to the Liquidation Value.