Examples of DRIP Participant in a sentence
By opting into the Company’s DRIP, Participant authorizes the Company to automatically reinvest the portion of any cash distributions from the Company allocated to all of Participant’s Shares into additional shares of the Company’s common stock, and to issue such additional shares at the then-current price per share as reviewed and set by the Company on an annual basis.
Subject to Section 5.2(b)(vi), the General Partner shall, on behalf of each DRIP Participant, reinvest such DRIP Participant’s cash distributions in additional Partnership Interests to be issued by the Partnership, unless the General Partner determines to distribute such cash distributions for any reason.
Partnership Interests issued pursuant to the DRIP shall be (i) allocated between each class of Partnership Interests in accordance with Section 3.1 (provided that, for purposes of applying Section 3.1, the DRIP Participant shall be deemed to have made a capital commitment on the date on which it otherwise would have received the cash distribution), and (ii) purchased at the Partnership Interest Price as of the DRIP Record Date.
By opting in to the Company’s DRIP, Participant authorizes the Company to automatically reinvest the portion of any cash distributions from the Company allocated to all of Participant’s Shares into additional shares of the Company’s common stock, and to issue such additional shares at the then-current price per share as reviewed and set by the Company on an annual basis.