New Preferred definition

New Preferred means the series of the Preferred Stock, $100 liquidation value, of the Company designated as its "October 1988 Series Money Market Cumulative Preferred(TM) Stock".

New Preferred has the meaning set forth in Section 5.5.

New Preferred means preferred stock having the purchase price and liquidation preference equal to the Agreed Price or the Discounted Price, as applicable, and otherwise on terms as set forth on Exhibit L to this Agreement.

Examples of New Preferred in a sentence

• The principal of and accrued interest on any such note may be prepaid (and New Preferred Units issued in lieu thereof may be redeemed) in whole or in part at any time at the option of the Company.

• If interest (or a cash distribution) is required to be paid on any Junior Subordinated Note (or New Preferred Units issued in lieu thereof) and any of the conditions set forth in the first sentence of this Section 5(b) exists or if any such cash payment would result in adverse accounting treatment for the Company which prohibits the payment of such interest (or distributions) in cash, such interest may be cumulated and accrued until and to the extent that such prohibition no longer exists.

• The Company shall use its reasonable efforts (or shall cause PGA Holdings to use its reasonable efforts) to repurchase Units pursuant to Section 4.1(a)(i), Section 4.1(a)(ii) or Section 4.1(a)(iii)(B) with cash and/or to prepay any Junior Subordinated Notes or redeem any New Preferred Units issued in connection with such repurchase of Units.

• The New Preferred Units will be exempt from registration or qualification under the Act and applicable state securities laws.

• None of the New Preferred Units will be issued in violation of the preemptive or other similar rights of any security holder of the Operating Partnership or any other person or entity.

More Definitions of New Preferred

New Preferred means those certain shares of Series A Preferred to be purchased by the Purchasers pursuant to Section 2A of this Agreement at the Closing and having the rights set forth for the Series A Preferred in the Certificate of Designation, as amended, modified, restated, superseded or replaced from time to time.

New Preferred means any series of preferred stock of the Borrower sold and issued by Borrower after the date of this Agreement.

New Preferred means the 2003 Series A Preferred Stock, $0.001 par value, of the Company having the rights and preferences set forth in the Certificate of Designation.

New Preferred means the series of the Preferred Stock, $100 liquidation preference, of the Company designated as its "September 1992A Series Auction Market Preferred Stock."

New Preferred. The holders of at least 60% of the Series B Preferred Stock shall have the right to cause all holders of Series B Preferred Stock to convert such shares of Series B Preferred Stock into a new series of preferred stock ("New Preferred"), if the Company consummates a transaction for the sale of such New Preferred with 90 days following the issuance of the first Share by the Company.

New Preferred means the Series D Convertible Preferred Stock of the Company, par value $.001 per share.

New Preferred means the $325.0 million initial liquidation preference preferred stock of Parent issued pursuant to the New Preferred Documents on the Closing Date.