Examples of Class F Preferred Units in a sentence
No payment of any Accruing Dividend in cash may be made with respect to any Class F Preferred Unit unless all Accruing Dividends then payable in cash on any other Class F Preferred Unit are being paid simultaneously, or all such Class F Preferred Units are receiving a portion of such Accruing Dividends in cash on a pro rata basis based on the amount of such Accruing Dividends that are then payable.
The Company’s outstanding Class F Preferred Units will be converted into shares of preferred stock of the VMD Corporation having the same designations preferences, privileges or powers and relative, participating, optional or other special rights or qualifications, limitations or restrictions as those applicable to the Class F Preferred Units (other than as to matters that reflect inherent differences between corporate and limited liability company form).
Class F Preferred Units redeemed in accordance with this Section 3.14 shall be cancelled and retired and all distributions with respect to such Class F Preferred Units shall cease to accrue and all rights with respect to such Units shall forthwith after terminate, from and after the payment of the applicable Class F Redemption Price.
The Class F Preferred Units shall be entitled to the number of votes per Class F Preferred Unit equal to the number of whole Common Units into which one Class F Preferred Unit is then convertible on all matters for which the holders of Units are entitled to vote under the terms of this Agreement and the Act.
In the event of a conversion of the Class F Preferred Units under this Section 3.14(b), the converted Class F Preferred Units shall be cancelled and retired and all distributions with respect to such Class F Preferred Units shall cease to accrue and all rights with respect to such Units shall forthwith after terminate, except only the right of the holders to receive the Class G Preferred Units in accordance with this Section 3.14(b).
The date of each such redemption shall be referred to as a “Redemption Date.” On each Redemption Date, the Company shall redeem from all Class F Preferred Unit Holders, an aggregate number of Class F Preferred Units equal to the number of Class F Preferred Units set forth in the Class F Redemption Notice on a pro rata basis in accordance with the number of Class F Preferred Units owned by each holder thereof, that number of Class F Preferred Units to be purchased on such Redemption Date.
The Accruing Dividends shall accrue from day to day, whether or not declared, and shall be cumulative; provided, however, such Accruing Dividends shall only be payable upon (i) a Dividend Trigger Event in accordance with this Section 4.6(a), Section 4.7 and Section 9.2, as applicable, or (ii) a redemption of the Class F Preferred Units in accordance with Section 3.14 (or a conversion in lieu of such a redemption).
Until the holders of the Class F Preferred Units have been paid the Class F Liquidation Preference in full, no payment or distribution will be made to any holder of any Distribution Junior Units upon the liquidation, dissolution or winding up of the Partnership.
Class F Preferred Units shall have the designations, preferences, rights, powers, restrictions and limitations set forth in Exhibit G hereto.
The preceding two sentences shall not affect the right of the General Partner or any other holder of Class F Preferred Units to share in any distribution or payment of the assets of the Partnership upon any liquidation, dissolution or winding up, whether voluntary or involuntary, of the Partnership as a result of its holding another class or series of Units.