Class M Preferred Stock definition

Class M Preferred Stock means the 5.25% Class M Cumulative Redeemable Preferred Stock, $1.00 par value per share, of the Corporation.

Class M Preferred Stock means the Class M Redeemable Voting Convertible Preferred Stock of the Company.

Class M Preferred Stock means the Class M Convertible Cumulative Preferred Stock, par value $0.01 per share, of the Previous General Partner.

Examples of Class M Preferred Stock in a sentence

• See "DESCRIPTION OF SECURITIES--The Director Preferred Stock." Upon the occurrence of an Uninstructed Trustee Action (as defined below), the Class Pilot MEC Preferred Stock will succeed to the voting power previously held by the Class P Preferred Stock, the Class IAM Preferred Stock will succeed to the voting power previously held by the Class M Preferred Stock and the Class SAM Preferred Stock will succeed to the voting power previously held by the Class S Preferred Stock.

• The term “Capital Stock” shall mean all classes of series of stock of the Corporation, including, without limitation, Common Equity, Class L Preferred Stock and Class M Preferred Stock.

• The term “Initial Issue Date” shall mean the date that shares of Class M Preferred Stock are first issued by the Corporation.

• If and for so long as the shares of Class M Preferred Stock are represented by Depositary Shares in accordance with paragraph (J) hereof, then in any matter in which the Class M Preferred Stock is entitled to vote (as expressly provided herein), including any action by written consent, each share of Class M Preferred Stock shall be entitled to one thousand (1000) votes, each of which one thousand (1000) votes may be directed separately by the holder thereof (or by any proxy or proxies of such holder).

• The term “Constructive Ownership” shall mean ownership of Class M Preferred Stock orClass M Excess Preferred Stock by a Person who is or would be treated as an owner of such Class M Preferred Stock or Class M ExcessPreferred Stock either directly or constructively through the application of Section 318 of the Code, as modified by Section 856(d)(5) of the Code.

• Notwithstanding anything contained herein to the contrary, the foregoing voting provisions shall not apply if, at or prior to the time when the act with respect to which the vote would otherwise be required shall be effected, all outstanding shares of Class M Preferred Stock shall have been redeemed or called for redemption and sufficient funds shall have been deposited in trust to effect the redemption.

• Any dividend or distribution paid prior to the discovery by the Corporation that shares of Class M Preferred Stock have been converted into Class M Excess Preferred Stock shall be repaid to the Corporation upon demand.

• All shares of Class M Preferred Stock redeemed pursuant to this paragraph (D) shall be retired and shall be reclassified as authorized and unissued shares of Preferred Stock, without designation as to class or series, and may thereafter be reissued as shares of any class or series of Preferred Stock.

• In the event that the Corporation’s actions cause a reduction in the number of shares of Class M Preferred Stock outstanding and such reduction results in the issuance of Class M Excess Preferred Stock, the Corporation is required to exercise its option to repurchase such shares of Class M Excess Preferred Stock if the Beneficial Owner notifies the Corporation that it is unable to sell its rights to such Class M Excess Preferred Stock.

• This is a narrative box for the organization to describe the internal controls which are policies, processes and systems implemented to provide assurances that your organization can comply with all rules, regulations and laws governing this grant.

More Definitions of Class M Preferred Stock

Class M Preferred Stock means the Class M Redeemable Voting Convertible Preferred Stock, $.01 par value per share, of the Company.