DRP Shares definition

DRP Shares means Shares which on any Record Date are validly designated by a Participant, in accordance with these Rules, to participate in the DRP.
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DRP Shares and together with the Follow-On Shares, the “Shares”) in an offering of DRP Shares (the “DRP Offering,” and together with the Primary Offering and the Follow-On Offering, the “Offering”), at terms disclosed in a DRP Registration Statement (as defined below), all upon the terms and subject to the conditions set forth in the Prospectus. The Company will provide an estimated per share net asset value (“NAV”) of its common stock at least annually, at which time the Company’s board of directors may update the per share offering prices of Shares to reflect such updated estimated per share NAV amounts. The Company reserves the right to (i) reallocate the Shares among the Class A Shares, Class T Shares, and Class I Shares and (ii) reallocate the Shares between the Primary Shares and the DRP Shares. The Company also reserves the right to discontinue offering any class of Shares at any time during the Offering, which shall be disclosed in the Prospectus.
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DRP Shares means shares validly nominated in a Participant’s Notice of Application as shares to which the DRP shall apply and also shares otherwise taken under these Rules to participate in the DRP.
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Examples of DRP Shares in a sentence

  • The DRP applies only in respect of DRP Shares of a DRP Participant on which an Eligible Dividend is payable.

  • Each Dividend which is payable to a participating Shareholder in respect of DRP Shares and which is available for payment to the participating Shareholder will be applied on the participating Shareholder’s behalf in acquiring or subscribing for additional Shares.

  • Whilst the DRP is suspended, Dividends on DRP Shares will not be applied by the Board on the participating Shareholder’s behalf in subscribing for or purchasing Shares.

  • If at the relevant Record Date the number of Shares held by the participating Shareholder is fewer than the number of Shares specified by the participating Shareholder as DRP Shares then the number of DRP Shares for that Shareholder in respect of that Dividend payment will be reduced to the lesser number of Shares.

  • DRP Shares mean Shares which are designated by a DRP Participant as Shares that are to participate in this DRP under Rules 4 and 5, and in relation to which an Eligible Dividend is to be applied in subscribing for additional Shares in accordance with these Rules.

  • While the DRP is suspended, Eligible Dividends on DRP Shares will not be applied by the Company on the DRP Participant’s behalf.

  • If at the Record Date for an Eligible Dividend the number of Shares held by the DRP Participant is less than the number of Shares that are DRP Shares of the DRP Participant as determined under Rule 4.1(b)(ii), then only those Shares registered in the name of the DRP Participant on that Record Date are DRP Shares.

  • Subject to these Rules, Eligible Dividends on DRP Shares will be applied by the Company on the DRP Participant’s behalf in subscribing for DRPShares.

  • No brokerage, commission or other transaction costs will be payable by Participants in respect of the Allocation of DRP Shares pursuant to these Rules.

  • Split shareholdings The Board is entitled (but not obliged) to refuse a Shareholder participation in the DRP where that Shareholder has, in the opinion of the Board, split a shareholding or acquired Shares as part of such a split, in order to increase the number of DRP Shares that may be acquired by that Shareholder or another person.


More Definitions of DRP Shares

DRP Shares means the Shares in respect of which a Shareholder has
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Related to DRP Shares

  • VMTP Shares has the meaning set forth in the preamble to this Agreement.

  • Coop Shares Shares issued by a Cooperative Corporation.

  • Co-op Shares Shares issued by private non-profit housing corporations.

  • Merger Shares has the meaning set forth in Section 2.2(c).

  • Buyer Shares means the common stock, with a par value of $0.0001 per share, of Buyer.

  • Amalco Shares means common shares in the capital of Amalco;

  • Public Shares means the Ordinary Shares included in the Units issued in the Public Offering; (vi) “Trust Account” shall mean the trust account into which a portion of the net proceeds of the Public Offering and the sale of the Private Placement Warrants shall be deposited; (vii) “Transfer” shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b) entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified in clause (a) or (b); and (viii) “Charter” shall mean the Company’s Amended and Restated Memorandum and Articles of Association, as the same may be amended from time to time.

  • Company Shares has the meaning set forth in the Recitals.

  • Parent Shares means the shares of common stock, par value $1.00 per share, of Parent.

  • Newco Shares means the common shares in the capital of Newco;

  • Common Shares means the common shares in the capital of the Company;

  • Stock Election Shares shall have the meaning set forth in Section 3.2.1.

  • Founder Shares shall have the meaning given in the Recitals hereto and shall be deemed to include the shares of Common Stock issuable upon conversion thereof.

  • PIPE Shares shall have the meaning given in the Recitals hereto.

  • SpinCo Shares means the shares of common stock, par value $0.01 per share, of SpinCo.

  • Unit Shares means the Common Shares comprising part of the Units;

  • Sold Shares shall have the meaning specified in Section 6.

  • Fully Diluted Shares means an amount equal to the sum of (a) the total number of shares of Common Stock outstanding immediately prior to the Effective Time, plus (b) the total number of shares of Common Stock that all In-the-Money Options outstanding immediately prior to the Effective Time are exercisable into at such time and without any withholding of shares to pay the exercise price or Taxes.

  • Dividend Shares means the shares of Common Stock issuable in payment of dividends payable on the Preferred Shares in accordance with the terms of the Certificate of Designation.

  • Acquired Shares has the meaning set forth in the Recitals.

  • Lock-Up Shares has the meaning set forth in Section 4.1.

  • Shares means the interests of Shareholders corresponding to the redeemable securities of record issued by the Fund under the Investment Company Act of 1940 that are held by the Intermediary.

  • Initial Shares means a number of Registrable Securities equal to the lesser of (i) the total number of Registrable Securities and (ii) one-third of the number of issued and outstanding shares of Common Stock that are held by non-affiliates of the Company on the day immediately prior to the filing date of the Initial Registration Statement.

  • Exchange Shares has the meaning set forth in Section 2.01(b).

  • Subscribed Shares means, as of any date of determination, the Subscribed Shares (as defined in the recitals to this Subscription Agreement) and any other equity security issued or issuable with respect to the Subscribed Shares by way of stock split, dividend, distribution, recapitalization, merger, exchange, or replacement, and (ii) “Subscriber” shall include any person to which the rights under this Section 5 shall have been duly assigned.

  • Subco Shares means the common shares in the capital of Subco;