Junior Dividend Securities definition

Junior Dividend Securities all equity securities of the Corporation with which the Series B Preferred Stock ranks on a parity, including the Series C Preferred Stock, are collectively referred to herein as the "Parity Dividend Securities"; and all equity securities of the Corporation (other than convertible debt securities) to which the Series B Preferred Stock ranks junior, with respect to dividends, are collectively referred to herein as the "Senior Dividend Securities."
View Source
Junior Dividend Securities means the Junior Securities (i) authorized as of the initial date of this Certificate and (ii) any class of capital stock or series of preferred stock subsequently established by the Board, the terms of which when established do not expressly provide that such class or series ranks on parity with or senior to the 6% Senior Preferred Stock with respect to dividends or distributions.
View Source
Junior Dividend Securities means the Junior Securities and any class of capital stock or series of preferred stock established by the Board, the terms of which expressly provide that such class or series ranks junior and subordinate to the Senior Preferred Stock with respect to dividends or distributions.
View Source

Examples of Junior Dividend Securities in a sentence

  • No dividends may be paid or set apart for such payment on Junior Dividend Securities (except dividends on Junior Dividend Securities in additional shares of Junior Dividend Securities) and no Junior Dividend Securities may be repurchased, redeemed or otherwise acquired nor may funds be set apart for payment with respect thereto, if full dividends have not been paid on the 6% Senior Preferred Stock.

  • The Company will have the right to issue shares of Junior Securities and Junior Dividend Securities without the approval or consent of the holders of 6% Senior Preferred Stock.

  • The Series D Preferred Stock shall be subject to the creation of Junior Dividend Securities and Junior Liquidation Securities (collectively, "Junior Securities"), but no Parity Dividend Securities or Parity Liquidation Securities (collectively, "Parity Securities") (other than the Series B Preferred Stock) or Senior Dividend Securities or Senior Liquidation Securities (collectively, "Senior Securities") shall be created except in accordance with the terms hereof.

  • Notwithstanding the 21 foregoing, the Company may redeem, purchase or otherwise acquire Junior Dividend Securities (a) by conversion into, exchange for, or out of the cash proceeds from the exercise of Exchange Warrants or the substantially concurrent offering of, Junior Dividend Securities or (b) in the ordinary course of business pursuant to the terms of any employee stock incentive plan adopted by the Board.

  • With respect to dividends or distributions, the 6% Senior Preferred Stock will rank (i) senior to the Junior Securities and any other Junior Dividend Securities; (ii) on parity with the Parity Securities and any Parity Dividend Securities; and (iii) junior to the Senior Securities and any Senior Dividend Securities.

  • The Series C Preferred Stock shall be subject to the creation of Junior Dividend Securities and Junior Liquidation Securities (collectively, "Junior Securities"), but no Parity Dividend Securities or Parity Liquidation Securities (collectively, "Parity Securities") (other than the Series B Preferred Stock) or Senior Dividend Securities or Senior Liquidation Securities (collectively, "Senior Securities") shall be created except in accordance with the terms hereof.

  • The Series A Preferred Stock shall be subject to the creation of Junior Dividend Securities and Junior Liquidation Securi- ties (collectively, "Junior Securities") but no Parity Dividend Securities or Parity Liquidation Securities (collectively, "Parity Securities"), or Senior Dividend Securities or Senior Liquidation Securities (collectively, "Senior Securities") shall be created except in accordance with the terms hereof including, without limitation, Article VIII, Section F hereof.