Junior Preferred Redemption definition
Examples of Junior Preferred Redemption in a sentence
Effective upon the Junior Preferred Redemption, the Junior Preferred Units shall have no rights as a Member, economic or otherwise, under this Agreement including, without limitation, any right to distributions under Sections 5.02, 5.03 and 9.03(c) or otherwise.
On such Redemption Date, each holder of shares of Preferred Stock shall surrender the certificate evidencing such shares to the Corporation and shall thereupon be entitled to receive payment of, as applicable, the Series F Redemption Price or the applicable Junior Preferred Redemption Price.
At any time thereafter when additional funds of the Corporation are legally available for the redemption of shares of Preferred Stock, such funds will immediately be used to redeem the balance of the shares which the Corporation has become obligated to redeem on the Redemption Date but which it has not redeemed at the Series F Redemption Price or the applicable Junior Preferred Redemption Price, as applicable, together with any accrued interest thereon as provided below.
In exchange for the Offer Capital Contributions, the Company shall issue to each of CSXT Sub and NSC (i) such number of Series A Cumulative Preferred Interests as reflects the Offer Capital Contributions made by CSXT Sub and NSC, respectively, at the rate of $1,000 per Series A Cumulative Preferred Interest, and (ii) 50,000 Junior Preferred Interests with an aggregate Junior Preferred Redemption Value for each of CSXT Sub and NSC as of the date of issuance of $50 million.
Every effort will be made to provide school cancellation information to area radio, television, and telecommunications sources, prior to 6:30 a.m.
Subject to Sections 5.3 and 5.4, on or before June 30, 2013, the Company shall distribute cash to the Junior Preferred Unitholders in an amount equal to the Junior Preferred Redemption Value; provided that, without Majority Approval of the Senior Preferred Unitholders, no distributions shall be made pursuant to this Section 5.5 until all Senior Preferred Units have been completely redeemed.
Subject to Sections 5.3 and 5.4, on or before June 30, 2013, the Company shall distribute cash to the Junior Preferred Unitholders in an amount equal to the Junior Preferred Redemption Value; PROVIDED that, without Majority Approval of the Senior Preferred Unitholders, no distributions shall be made pursuant to this Section 5.5 until all Senior Preferred Units have been completely redeemed.