Minimum Class A Investment definition

Minimum Class A Investment means the number of shares of Statesman Class A Preferred Stock determined by Statesman as follows: MI = (HT/(PV x R)) - RE where MI = Minimum Class A Investment (stated at the par value). HT = the highest TAPOS computed for the Cooperative during any of the three Determination Periods. PV = the par value of one share of the Statesman Class A Preferred Stock. R = the Contributed Capital Rate, expressed as a decimal. RE = As of the TAPOS Determination Date (x) the product of (i) the percentage of the total outstanding common stock of Statesman held by the Cooperative and (ii) the sum of Statesman's Retained Earnings and Paid In Capital divided by (y) the par value of Class A Preferred Stock. If the Minimum Class A Investment computed using this formula is a fraction, it will be rounded upward to the next whole number of shares.
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Minimum Class A Investment shall have the meaning set forth in Section 4.1(b)(ii).
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Examples of Minimum Class A Investment in a sentence

  • Upon the delivery to Statesman of the first Receivables Certificate hereunder the Cooperative will purchase Statesman Class A Preferred Stock with such par value as will cause it to have a Minimum Class A Investment in Statesman Class A Preferred Stock and on each TAPOS Determination Date thereafter it will acquire such additional Statesman Class A Preferred Stock if any as may be necessary for it to maintain a Minimum Class A Investment.

  • Statesman covenants and agrees that if on any TAPOS Determination Date the amount of Statesman Class A Preferred Stock held by the Cooperative exceeds the Minimum Class A Investment computed as of such date, it will, subject to the provisions of Section 9.04, upon written demand by the Cooperative redeem for cash at its par value those shares held by the Cooperative which are in excess of the Minimum Class A Investment determined as of such date.

  • Upon the delivery to Statesman of the ----------------- first Receivables Certificate hereunder the Cooperative will purchase Statesman Class A Preferred Stock with such par value as will cause it to have a Minimum Class A Investment in Statesman Class A Preferred Stock and on each TAPOS Determination Date thereafter it will acquire such additional Statesman Class A Preferred Stock if any as may be necessary for it to maintain a Minimum Class A Investment.

  • Statesman covenants ------------------------------------- and agrees that if on any TAPOS Determination Date the amount of Statesman Class A Preferred Stock held by the Cooperative exceeds the Minimum Class A Investment computed as of such date, it will, subject to the provisions of Section 9.04, upon written demand by the Cooperative redeem for cash at its par value those shares held by the Cooperative which are in excess of the Minimum Class A Investment determined as of such date.

  • Pursuant to Sections 4.1(b)(i) and (ii) of the Agreement, the Class A Members have agreed to make cash Capital Contributions to the Company until such time as the Class A Members have an aggregate Investment Balance equal to the Minimum Class A Investment.