Non-Cash Dividend definition
Examples of Non-Cash Dividend in a sentence
If the Company fails to pay a Cash Dividend in respect of any fiscal quarter ending on or prior to December 31, 2017 and does not make a Non-Cash Dividend Election in respect thereof, the Company shall be deemed to have made a Non-Cash Dividend Election for all purposes of this Certificate of Designations.
The Fair Market Value of Non-Cash Dividend shall be determined by the Independent Investment Bank and valued as of the time of such dividend or distribution.
The term "Stock" shall further include all cash or non-cash income from the shares of Stock pledged hereunder, all increases therein and proceeds thereof, other than income, increases or proceeds received by Pledgor pursuant to Section 6 hereof, and any dividend paid in respect of the Stock in the form of additional shares of stock, options to purchase stock, warrants or convertible securities (a "Non-Cash Dividend").
If the Company shall set a record date to determine the holders of shares of Common Stock for purposes of a Common Stock Reorganization, Non-Cash Dividend or Capital Reorganization, and shall legally abandon such action prior to effecting such action, then no adjustment shall be made pursuant to this Section 5 in respect of such action.
Any Non-Cash Dividend declared and paid in accordance with this Section 3(b) shall reduce, on a dollar-for-dollar basis, the amount of Cash Dividends otherwise required under Section 3(a) in any Quarter.