Examples of Exchangeable Preferred Shares in a sentence
There are hereby designated 15,000,000 "Class B Exchangeable Preferred Shares", par value $.01 per share ("Class B EPS").
The class of shares of beneficial interest in the Trust being created by these Articles Supplementary shall be designated as "Class A Exchangeable Preferred Shares", par value $.01 per share ("Class A EPS"), and 30,000,000 shall be the number of shares of Class A EPS constituting such class.
RFW is currently limited in its ability to exchange all of its Exchangeable Preferred Shares for Common Shares without Common Shareholder approval if such exchange would result in RFW holding 20% or more of the Company’s then issued and outstanding Common Shares.
Moreover, Worldwide Shares and Exchangeable Preferred Shares held by the Members and otherwise sold, redeemed or disposed of prior or subsequent to January 2, 1998 were considered in making this representation.
As used herein, the term "Shares" shall mean and include (i) the Class A Shares, Class B Shares, Excess Trust Shares, Class A Exchangeable Preferred Shares, Class B Exchangeable Preferred Shares, Trust Preferred Shares and Excess Preferred Shares, and (ii) from and after the issuance of Shares of any other and additional classes of Shares so created and authorized by the Trustees, such Shares.
The Trust has no plan to reacquire any of the Exchangeable Preferred Shares issued pursuant to the Westin Merger.
As of January 20, 1998, there were 55,392,389 Paired Shares, 6,285,765 Class A Exchangeable Preferred Shares of the Trust and 5,502,711 Class B Exchangeable Preferred Shares of the Trust outstanding, and 21,292,005 REIT shares and 21,292,005 OPCO shares were reserved for issuance.
There is no plan by the Members to sell, exchange or otherwise dispose of a number of Exchangeable Preferred Shares received pursuant to the Westin Merger that would reduce the Members' ownership of Exchangeable Preferred Shares to a number of shares having a value as of January 2, 1998 of less than 50 percent of the value of all of the formerly outstanding Worldwide Shares as of January 2, 1998.
The ratio for the exchange of shares of Westin Worldwide (the "Worldwide Shares") for Exchangeable Preferred Shares and cash in the Westin Merger was negotiated through arm's-length bargaining.
In addition, US$43,066,960 plus accrued and unpaid dividends is payable on June 1, 2017 in respect of the retirement of the Exchangeable Preferred Shares.