Pari Passu Preferred definition
Examples of Pari Passu Preferred in a sentence
When and as declared by the Board, and to the fullest extent permitted under the General Corporation Law of the State of Delaware, the Corporation shall pay preferential dividends on each issued and outstanding share of the Series C Preferred; provided, however, that no dividend shall be declared on the Series C Preferred unless a pro rata amount (based upon relative Liquidation Value) is declared on each of the other series of Pari Passu Preferred.
When and as declared by the Board, and to the fullest extent permitted under the General Corporation Law of the State of Delaware, the Corporation shall pay preferential dividends on each issued and outstanding share of the Series B Preferred, provided, however, that no dividend shall be declared on the Series B Preferred unless a pro rata amount (based upon relative Liquidation Value) is declared on each of the other series of Pari Passu Preferred.
The Series D Preferred The Series D-1 Preferred has one vote for each has one vote for each share of Common Stock share of Common Stock into which it is into which it is convertible and votes convertible and votes together as a class with together as a class with all other Pari Passu all other Pari Passu Preferred and Common Preferred and Common Stock.
The provisions of the foregoing sentence are intended solely to comply with the requirements of the presumption in Treasury Regulation Section 1.6011-4(b)(3)(iii) and are not intended to permit disclosure of any Information that is not subject to the requirements of such presumption.
If the Corporation declares or pays a dividend or makes any distribution on the Common, then the holders of the outstanding shares of Pari Passu Preferred (on a Common Equivalent Basis as of the record date for such dividend or distribution) and the holders of the Common shall share pro rata in such dividend or distribution.
Any holder of Series C Preferred may exercise his, her or its Redemption Right by delivering to the Corporation a Redemption Notice on or after March 14, 2012, provided that holders of at least a majority of the then outstanding shares of Pari Passu Preferred have requested a redemption pursuant to this Section 5 (a) and the equivalent provisions of the other series of Pari Passu Preferred.
When and as declared by the Board, and to the fullest extent permitted under the General Corporation Law of the State of Delaware, the Corporation shall pay preferential dividends on each issued and outstanding share of the Series A Preferred; provided, however, that no dividend shall be declared on the Series A Preferred unless a pro rata amount (based upon relative Liquidation Value) is declared on each of the other series of Pari Passu Preferred.
Any holder of Series A Preferred may exercise his, her or its Redemption Right by delivering to the Corporation a Redemption Notice on or after March 14, 2012, provided that holders of at least a majority of the then outstanding shares of Pari Passu Preferred have requested a redemption pursuant to this Section 5(a) and the equivalent provisions of the other series of Pari Passu Preferred.
If the funds of the Corporation legally available for redemption of Pari Passu Preferred pursuant to Section 6(b)(iii) are insufficient to redeem all shares of Pari Passu Preferred, the provisions of Sections 5(b) and (c) shall apply to the same extent as if such provisions were set forth in their entirety in this Section 6(b)(iv).
Upon notice from the holders of a majority of the outstanding Pari Passu Preferred and Conversion Common Shares, voting as a single class on a Common Equivalent Basis, then outstanding that they intend to exercise their rights under this Section 6(b)(i), the Corporation shall immediately take whatever action is necessary so as to effectuate this Section 6(b)(i), including, without limitation, increasing the size of the Board and electing such additional Investor Directors.