Increased Dividend Rate definition

Increased Dividend Rate means, in connection with a Remarketing, the Dividend Rate (as such term is defined in the Certificate of Designations) per annum rounded to the nearest one thousandth (0.001) of one percent applicable to the Mandatory Convertible Preferred Stock if such Remarketing is a Successful Remarketing if and as determined by the Company pursuant to the terms of this Agreement and the relevant Remarketing Agreement.
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Increased Dividend Rate means, in connection with each Remarketing, the dividend rate per annum rounded to the nearest one thousandth (0.001) of one percent that the Convertible Preferred Stock shall bear as determined by the Company pursuant to the Remarketing Agreement.
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Increased Dividend Rate means, following any Trigger Event, an amount equal to $9,910.00 per share per annum.
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Examples of Increased Dividend Rate in a sentence

  • The amount of Additional Dividends payable shall be computed by multiplying the Increased Dividend Rate by a fraction, the numerator of which is (x) the number of days during the relevant Dividend Period such Increased Dividend Rate Event continues without cure and (y) the denominator of which is 360.

  • Notwithstanding the foregoing, to the extent the Increased Dividend Rate applies, unless otherwise consented to by the Majority Holders, the difference between the Increased Dividend Rate and the Original Dividend Rate will be payable only in cash.

  • All dividends which have accrued on each share of Series A Preferred at the Increased Dividend Rate and which remain unpaid at the end of such six (6) month period shall be due and payable at the end of the six (6) month period.

  • For the avoidance of doubt, any Additional Dividends shall immediately cease to accrue upon the payment, discharge or other cure of such failure, action or other event giving rise to an Increased Dividend Rate Event.

  • Commencing on the day next succeeding the last day of the Increased Dividend Rate Period, the annual dividend rate payable on the Series A Preferred Stock shall immediately and without further action by any person decrease to 13% for so long as the Series A Preferred Stock is outstanding.

  • If for any reason any Series A Preferred Shares remain outstanding on the third anniversary of the Initial Closing Date (as defined in the Securities Purchase Agreement) (the "INCREASED DIVIDEND DATE"), then the Dividend Rate shall be increased as of the Increased Dividend Date to the Increased Dividend Rate until such time as no Series A Preferred Shares remain outstanding.

  • Upon any increase in the annual dividend rate of the Series A Preferred Stock pursuant to this subsection (e), references herein to 13% as the annual dividend rate payable on the Series A Preferred Stock shall be deemed to mean 15% during the Increased Dividend Rate Period, and the dividend amounts expressed in dollar terms in subsection (a) of this Section 3 shall be deemed to be adjusted in accordance with such increased annual dividend rate.

  • The Increased Dividend Rate shall be applied pro rata to shares of Series A Preferred held by all Holders.

  • If the Form OC is not declared effective by the OTS on or before August 15, 1993, the annual dividend rate payable on the Series A Preferred Stock shall increase to 13% for the "Increased Dividend Rate Period." The Increased Dividend Rate Period shall commence on August 16, 1993 and shall end on the earlier to occur of (i) the date on which the Form OC is declared effective by the OTS and (ii) the second anniversary of the Issue Date.

  • Additional Dividends which shall have accrued shall be payable (if declared) on the next succeeding Dividend Payment Date to the holders of record of the shares of the Series A Preferred Stock on such record dates applicable to such Dividend Payment Date, For the avoidance of doubt, any Additional Dividends shall immediately cease to accrue upon the payment, discharge or other cure of such failure, action or other event giving rise to an Increased Dividend Rate Event.


More Definitions of Increased Dividend Rate

Increased Dividend Rate means (i) as of the Increased Dividend Date, an amount equal to the Regular Dividend Rate plus 400 basis points per annum and (ii) as of any Dividend Reference Date after the Increased Dividend Date, the Dividend Rate then in effect plus 400 basis points per annum, provided, however, the Increased Dividend Rate shall in no event exceed 20% per annum; provided further, however, that in the event there are four (4) Dividend Reference Dates per year, then each addition to the Dividend Rate made on a Dividend Reference Date under (ii) shall be in an amount no more than 200 basis points per annum instead of 400 basis points per annum.
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Increased Dividend Rate means (i) as of the Increased Dividend Date, an amount equal to the Regular Dividend Rate plus [CONFIDENTIAL TREATMENT REQUESTED]* basis points per annum and (ii) as of any Dividend Reference Date after the Increased Dividend Date, the Dividend Rate then in effect plus [CONFIDENTIAL TREATMENT REQUESTED]* basis points per annum, provided, however, the Increased Dividend Rate shall in no event exceed [CONFIDENTIAL TREATMENT REQUESTED]* per annum; provided further, however, that in the event there are four (4) Dividend Reference Dates per year, then each addition to the Dividend Rate made on a Dividend
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Increased Dividend Rate means a dividend rate per annum equal to 10.0% of the Liquidation Preference.
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Related to Increased Dividend Rate

  • Dividend Rate has the meaning set forth in the Statement.

  • Annual Fixed Dividend Rate means, for any Subsequent Fixed Rate Period, the annual rate (expressed as a percentage rate rounded down to the nearest one hundred-thousandth of one percent (with 0.000005% being rounded up)) equal to the sum of the Government of Canada Yield on the applicable Fixed Rate Calculation Date plus 2.16%.

  • Initial Dividend Rate means, with respect to a series of APS, the rate per annum applicable to the Initial Dividend Period for such series of APS.

  • Applicable Dividend Rate means (i) during the period from the Original Issue Date to, but excluding, the first day of the first Dividend Period commencing on or after the fifth anniversary of the Original Issue Date, 5% per annum and (ii) from and after the first day of the first Dividend Period commencing on or after the fifth anniversary of the Original Issue Date, 9% per annum.

  • Floating Quarterly Dividend Rate means, for any Quarterly Floating Rate Period, the rate of interest (expressed as a percentage rate rounded down to the nearest one hundred-thousandth of one percent (with 0.000005% being rounded up)) equal to the sum of the T-Bill Rate on the applicable Floating Rate Calculation Date plus 1.60% (calculated on the basis of the actual number of days elapsed in such Quarterly Floating Rate Period divided by 365).

  • Quarterly Dividend Period means the quarterly period commencing on each February 1, May 1, August 1 and November 1 and ending on the day before the following Dividend Payment Date.

  • 7-Day Dividend Period means a Dividend Period consisting of seven days.

  • Accumulated Dividends means, with respect to any share of Preferred Stock, as of any date, the aggregate accumulated and unpaid dividends on such share from the Issue Date until the most recent Dividend Payment Date on or prior to such date. There shall be no Accumulated Dividends with respect to any share of Preferred Stock prior to the first Dividend Payment Date.

  • Increased Rate means, with respect to any Increased Rate Period for a Series of RVMTP Shares, the Index Rate for such Increased Rate Period plus an Applicable Spread of 5.92%.

  • Dividend Amount means, with respect to any date on which the Company pays a dividend on its outstanding Common Stock, the amount of such dividend that is paid per share of Common Stock multiplied by (x) the Purchase Amount divided by (y) the Liquidity Price (treating the dividend date as a Liquidity Event solely for purposes of calculating such Liquidity Price).

  • Ex-Dividend Date means the first date on which shares of the Common Stock trade on the applicable exchange or in the applicable market, regular way, without the right to receive the issuance, dividend or distribution in question, from the Company or, if applicable, from the seller of Common Stock on such exchange or market (in the form of due bills or otherwise) as determined by such exchange or market.

  • Preferred Dividends means, for any period and without duplication, all Restricted Payments paid during such period on Preferred Equity Interests issued by the Parent or a Subsidiary. Preferred Dividends shall not include dividends or distributions (a) paid or payable solely in Equity Interests (other than Mandatorily Redeemable Stock) payable to holders of such class of Equity Interests, (b) paid or payable to the Parent or a Subsidiary, or (c) constituting or resulting in the redemption of Preferred Equity Interests, other than scheduled redemptions not constituting balloon, bullet or similar redemptions in full.

  • Dividend Period means the Initial Dividend Period, any 7-Day Dividend Period and any Special Dividend Period.

  • Accrued Dividends means, with respect to any share of Preferred Stock, as of any date, the accrued and unpaid dividends on such share from and including the most recent Dividend Payment Date (or the Issue Date, if such date is prior to the first Dividend Payment Date) to but not including such date.

  • Special Dividend Period means a Dividend Period consisting of (i) a specified number of days (other than seven), evenly divisible by seven and not fewer than seven nor more than 364 or (ii) a specified period of one whole year or more but not greater than five years (in each case subject to adjustment as provided in paragraph 2(b)(i)).

  • Initial Dividend Period means the dividend period commencing on the Issue Date and ending on the first Dividend Payment Date to occur thereafter.

  • Initial Dividend Threshold shall have the meaning specified in Section 14.04(d).

  • Adjusted Conversion Price means the lesser of the Fixed Conversion Price or the Floating Conversion Price one day prior to the record date set for the determination of stockholders entitled to receive dividends, distributions, rights or warrants as provided for in Sections 4(c)(ii), (iii) and (iv).

  • Interest Conversion Rate means the lesser of (a) the Conversion Price or (b) 90% of the lesser of (i) the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the applicable Interest Payment Date or (ii) the average of the VWAPs for the 20 consecutive Trading Days ending on the Trading Day that is immediately prior to the date the applicable Interest Conversion Shares are issued and delivered if such delivery is after the Interest Payment Date.

  • Dividend Date means a date specified in the Issue Resolution on which a dividend in respect of that preference share is payable.

  • Increased Amount of any Indebtedness shall mean any increase in the amount of such Indebtedness in connection with any accrual of interest, the accretion of accreted value, the amortization of original issue discount, the payment of interest in the form of additional Indebtedness with the same terms, accretion of original issue discount or liquidation preference and increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies or increases in the value of property securing Indebtedness.

  • Ex-Dividend Time means, with respect to any distribution on shares of Common Stock, the first date on which the shares of Common Stock trade regular way on the principal securities market on which the shares of Common Stock are then traded without the right to receive such distribution.

  • Interest Conversion Price means, with respect to any Interest Date, that price which shall be computed as 100.0% of the arithmetic average of the Weighted Average Price of the Common Stock on each of the ten (10) consecutive Trading Days immediately preceding the applicable Interest Date (each, an “Interest Measuring Period”). All such determinations to be appropriately adjusted for any stock split, stock dividend, stock combination or other similar transaction during such period.

  • Early Preference Share Valuation Date means the date specified as such in the relevant Early Preference Share Redemption Notice which shall fall not less than one day and not more than 180 days following the day such Early Preference Share Redemption Notice is given. The Early Preference Share Redemption Notice may provide that such date is subject to adjustment in accordance with certain disruption or adjustment events, as determined by the Calculation Agent.

  • Series A Conversion Rate means, as adjusted pursuant to Section 5.8(b)(vi)(E), the number of Common Units issuable upon the conversion of each Series A Preferred Unit, which shall be the quotient of (a) the sum of (i) the Series A Issue Price, plus (ii) any Series A Unpaid Distributions on the applicable Series A Preferred Unit, plus (iii) only for purposes of the definition of “Series A COC Conversion Rate,” any Series A Partial Period Distributions on the applicable Series A Preferred Unit, divided by (b) the Series A Issue Price.

  • Liquidation Preference Amount means $25,000 per share of Series A Preferred Stock.