PIK Dividends definition

PIK Dividends means the shares of Series B Preferred Stock paid or payable as dividends on shares of Series B Preferred Stock in accordance with the applicable certificate of designation with respect thereto.

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PIK Dividends has the meaning set forth in Section 4(a)(i)(B).

PIK Dividends means, collectively, the PIK Dividends (as defined in the Series B Certificate of Designations) and the PIK Dividends (as defined in the Series C Certificate of Designations).

Examples of PIK Dividends in a sentence

• The Series 1 PIK Dividends shall accrue on each share of Series 1 Preferred from day to day and shall be paid monthly in the form of a number of additional shares of Series 1 Preferred equal to the cash value of the Series 1 PIK Dividend on such share that accrued during the preceding month, divided by the Stated Value of such share of Series 1 Preferred, within 10 days following the end of the preceding calendar month.

• Notwithstanding anything to the contrary contained in this Agreement, unless the General Partner has first obtained the Unanimous Consent of the Board pursuant to the General Partner Company Agreement, the Partnership shall not make any distribution of cash or property to any holder of Class A Units under Section 4.1 unless, at the time of such distribution, no PIK Dividends are accrued and unpaid at such time.

• All shares of Common Stock when issued or delivered as PIK Dividends under this Section 2D shall be duly and validly issued, fully paid and nonassessable and shall be free from all taxes (other than income taxes payable by the holder) with respect to the issue thereof and all liens, charges and encumbrances created by, through or under the Corporation.

• If the Corporation elects to pay any dividends accruing on the Series C Preferred not in cash but as PIK Dividends, the number of shares of Common Stock to be issued or delivered in payment of such dividends shall be determined by dividing the amount of cash that would otherwise be paid by the average Market Price (as defined in Section 11 hereof) of the Common Stock for the 10 trading days immediately preceding (but not including) the date of payment of such PIK Dividend.

• At any time that any Preferred Shares are outstanding, the Company shall from time to time take all lawful action within its control to cause the authorized capital stock of the Company to include a sufficient number of authorized but unissued shares of Common Stock to satisfy the conversion requirements of all of the Preferred Shares (including PIK Dividends) then outstanding.

More Definitions of PIK Dividends

PIK Dividends shall have the meaning set forth in Subsection (2)(b) below.

PIK Dividends means the "paid-in-kind" dividends as set forth in subparagraph 2(a) below.

PIK Dividends means cumulative dividends payable with respect to the Series A Preferred Stock in the form of additional shares of Series A Preferred Stock.

PIK Dividends has the meaning set forth in the Series A Certificate of Designations.

PIK Dividends means securities paid in kind as dividends on securities in accordance with the Company's Amended Articles of Incorporation.

PIK Dividends means dividends paid in the form of issuance of additional shares of Series A-1 Preferred, calculated by dividing, for each share of outstanding Series A-1 Preferred, (i) the amount of PIK Dividends accrued at the PIK Dividend Rate by (ii) the Original Issue Price.

PIK Dividends shall have the meaning ascribed to such term in the definition of Exempt Issuance.