Dividend Election definition

Dividend Election has the meaning set out in Clause G8.3.

Dividend Election means the election of a Participant or Beneficiary in accordance with Section 15.2 that cash dividends on L3 Stock paid to the Participant’s or Beneficiary’s ESOP Account are either: (a) distributed in cash to the Participant or Beneficiary no later than 90 days after the last day of the Plan Year in which the dividend is paid; or (b) reinvested in the L3 Stock Fund allocated to the Participant’s or Beneficiary’s ESOP Account.

Dividend Election has the meaning set forth in the Articles of Incorporation, as of the date hereof.

Examples of Dividend Election in a sentence

• A cash dividend will be paid on any remaining shares not included in the Dividend Election Input Message.

• Once an election is made using the CREST Dividend Election Input Message system it cannot be amended.

• The Dividend Election Input Message submitted to CREST must contain the number of shares for which the election is being made.

• The Dividend Election Input Message must contain the number of shares on which the election is being made.

• Shareholders who hold their shares in CREST can only elect to receive dividends in the form of new ordinary shares by use of the CREST Dividend Election Input Message.

• If an Equity Conditions Failure has occurred as of the Dividends Notice Date, then unless the Company has elected to pay such Dividends as Cash Dividends, the Dividend Election Notice shall indicate that unless the applicable Holder waives the Equity Conditions Failure, the Dividends of the Preferred Shares of such Holder shall be capitalized hereunder and, as of such Dividend Date, shall increase the Stated Value of the Preferred Shares of such Holder on a dollar-for-dollar basis.

• A Dividend Election for any particular Dividend Reference Date shall operate only for such Dividend Reference Date.

• Dividends shall be payable in shares of Common Stock (as defined below) ("Dividend Shares"), or, at the option of the Company, in cash, provided that the Dividends which accrued during any period shall be payable in cash only if the Company provides written notice ("Dividend Election Notice") to each holder of Preferred Shares at least ten (10) days prior to the Dividend Date.

• If the Corporation has obtained both the Principal Market Stockholder Approval and the Authorized Share Stockholder Approval and if the payment of any portion of Dividends as Cash Dividends on the applicable Dividend Date is not permitted under the Bank Facility, the Corporation shall be required to confirm in the applicable Dividend Election Notice that the Dividends not permitted by the Bank Facility to be paid as Cash Dividends on such Dividend Date will be paid as Dividend Shares.

• If no election is received on or prior to the Dividend Election Date, the Corporation shall have the right to elect the form of payment for such holders.

More Definitions of Dividend Election

Dividend Election means the delivery by the holders of a majority of the outstanding shares of Series A Preferred Stock of a notice to the Corporation of an election to begin accruing dividends on the shares of Series A Preferred Stock. Such election may only be given during a Dividend Election Period, may not be revoked and shall be binding on all holders of Series A Preferred Stock.