Examples of Junior Preferred Shares in a sentence
Upon such deposit being made or upon the date specified for redemption in such notice, whichever is the later, the Class A Junior Preferred Shares, Series 1 in respect of which such deposit shall have been made shall be deemed to be redeemed and the rights of the holders thereof shall be limited to receiving, without interest, their proportionate part of the amount so deposited and representing their Class A Junior Preferred Shares, Series 1 being redeemed.
The holders of Class A Junior Preferred Shares, Series 1 will not be entitled to any distributions other than or in excess of the cumulative preferential cash distributions provided for in these share rights.
Payment in respect of Class A Junior Preferred Shares, Series 1 being redeemed shall be made by wire transfer or by cheque payable to the specified shareholder or by any other reasonable means the Company deems desirable.
Junior Preferred Shares owned by or held for the account of the Company shall not be deemed outstanding for the purpose of any such computation.
The Company shall have the right at any time after the sending of notice of its intention to redeem Class A Junior Preferred Shares, Series 1 to deposit the Redemption Price of the Class A Junior Preferred Shares, Series 1 which are to be redeemed to a bank account created solely for such purpose and specified in such notice or in a subsequent notice to the holders of the shares in respect of which the deposit is made.