Examples of Coupon Preferred Stock in a sentence
The Series C Zero Coupon Preferred Stock shall be subordinate to Series A Zero Coupon Preferred Stock and Series B Zero Coupon Preferred Stock.
The Series C Zero Coupon Preferred Stock shall be convertible into shares of the Company's Common Stock on the Maturity Date at a ten percent (10%) discount to the then-current market price based on the average closing price for the twenty (20) days immediately preceding the conversion.
The Payee shall make his election as to receipt of interest in cash or in Series C Zero Coupon Preferred Stock by written notice to the Company at least five (5) business days before the interest payment due date (the "Interest Notice Date").
In the event of a liquidation, dissolution, or winding up of the Corporation, the Conversion Rights shall terminate at the close of business on the last full day preceding the date fixed for the payment of any such amounts distributable on such event to the holders of Series B Zero Coupon Preferred Stock.
Interest shall be paid at the end of each calendar quarter in either: (i) shares of Series C Zero Coupon Preferred Stock of the Company valued at $1.00 per share, or (ii) cash, at Investor's option, with the first interest payment being on March 31, 2006.
Written notice of the optional redemption (the "Redemption Notice") shall be mailed, postage prepaid, to each holder of record of Series C Zero Coupon Preferred Stock, at its post office address last shown on the records of the Corporation, or given by electronic communication in compliance with the provisions of the Florida Business Corporation Act, not less than five (5) days prior to each Redemption Date.
Each share of Series C Zero Coupon Preferred Stock shall be convertible, at the option of the holder thereof, at any time and from time to time, and without the payment of additional consideration by the holder thereof, into such number of fully paid and nonassessable shares of Common Stock as is determined by dividing the Stated Value per share by the Series C Conversion Price (as defined below).
Nothing herein shall preclude the holder from disposing of a sufficient number of other shares of Common Stock beneficially owned by the holder so as to thereafter permit the continued conversion of the shares of Series C Zero Coupon Preferred Stock.
Each holder of one or more shares of Series C Zero Coupon Preferred Stock shall be entitled to receive, when and as declared by the Board of Directors, if at all, dividends on a parity with each holder of one or more shares of the Common Stock.
Each redemption of Series C Zero Coupon Preferred Stock shall be made pro rata (so that the number of shares of Series C Zero Coupon Preferred Stock held by each registered owner whose shares are being redeemed shall be reduced in an amount which shall bear the same ratio to the total number of shares of Series C Zero Coupon Preferred Stock being redeemed as all such shares then held by such registered owner bears to the aggregate number of shares of Series C Zero Coupon Preferred Stock then outstanding).