Excess Preferred Shares definition

Excess Preferred Shares means any Preferred Shares (i) acquired or proposed to be acquired by any Person pursuant to a Transfer to the extent that, if effective, such Transfer would result in the transferee either Beneficially Owning Preferred Shares or Constructively Owning Preferred Shares in excess of the Ownership Limit, or (ii) which are the subject of a Transfer that, if effective, which would result in the Corporation being “closely held” within the meaning of Section 856(h) of the Code.

Excess Preferred Shares means Excess Shares that would, under Paragraph 9.N(v)(a), automatically be exchanged for Preferred Shares in the event of a transfer of an interest in the Special Trust in which such Excess Shares are held.

Excess Preferred Shares means any of the Preferred Shares that constitute “Excess Preferred Shares” within the meaning of the Articles of Incorporation.

Examples of Excess Preferred Shares in a sentence

• The Trust, by notice to the holder thereof, may purchase any or all Series E Convertible Preferred Shares that are proposed to be transferred pursuant to a transfer which, in the opinion of the Board of Trustees, which shall be binding upon any proposed transferor or transferee of Series E Convertible Preferred Shares, would result in any Person acquiring Excess Preferred Shares, or would otherwise jeopardize the status of the Trust as a real estate investment trust under the REIT Provisions of the Code.

• Any dividend or distribution paid to a proposed transferee of Excess Preferred Shares prior to the discovery by the Trust that the Series E Convertible Preferred Shares have been transferred in violation of this Section 3 shall be repaid to the Trust upon demand.

• He also submitted that he had complained about discrimination on the basis of gender in the appeal on points of law that he had lodged against the decision of the Kaunas Regional Court in the divorce case (see paragraph 64 above), because it had been in that decision that the discrimination against him had been “exposed the most”.

• They saw the opportunity for trade and investment, or the opportunity to make money.

• Any issuance of Series EConvertible Preferred Shares that would (i) create a direct or indirect owner of Excess Preferred Shares other than a Preferred Excepted Person; or (ii) result in the Trust being "closely held" within the meaning of Section 856(h) of the Code, shall be void ab initio and the prospective acquiror shall not be entitled to any rights afforded to owners of Series E Convertible Preferred Shares hereunder and shall be deemed never to have had an interest therein.

More Definitions of Excess Preferred Shares

Excess Preferred Shares means Preferred Shares that are designated as Excess Shares.

Excess Preferred Shares means the Company’s Class I Excess Cumulative Redeemable Preferred Shares, without par value.

Excess Preferred Shares means Excess Shares that would, under Section 6.8(e)(i), automatically be exchanged for Preferred Shares in the event of a transfer of an interest in the Special Trust in which such Excess Shares are held.

Excess Preferred Shares means Excess Shares that would, under Section 6.8(e)(i), automatically be

Excess Preferred Shares means shares of the Company's Series A Excess Preferred Shares to be issued pursuant to Section 2.10.

Excess Preferred Shares shall have the meaning set forth in Section 27(c) hereof.

Excess Preferred Shares shall have the meaning set forth in Section 9(a) hereof.