Senior Dividend Stock definition

Senior Dividend Stock means any class or series of capital stock of the Corporation ranking senior as to dividends to the Series B Convertible Preferred Stock.

Senior Dividend Stock means any class or series of capital stock of the Corporation ranking senior as to dividends to the Series A Convertible Preferred Stock.

Senior Dividend Stock means shares of any class or series of capital stock of the Corporation that rank senior to the Series A Preferred Stock as to payment of dividends, including without limitation the Series D Preferred Stock.

Examples of Senior Dividend Stock in a sentence

• If at any time any dividend on any Senior Dividend Stock shall be in arrears, in whole or in part, no dividend shall be paid or declared and set apart for payment on the Series A Convertible Preferred Stock unless and until all accrued and unpaid dividends with respect to the Senior Dividend Stock, including the full dividends for the then current dividend period, shall have been paid or declared and set apart for payment, without interest.

• If at any time any dividend on any Senior Dividend Stock shall be in arrears, in whole or in part, no dividend shall be paid or declared and set apart for payment on the Series D Convertible Preferred Stock unless and until all accrued and unpaid dividends with respect to the Senior Dividend Stock, including the full dividends for the then current dividend period, shall have been paid or declared and set apart for payment, without interest.

• Dividends payable in additional shares of Series B Cumulative Convertible Preferred Stock are permitted and not subordinated in payment to payment of dividends on the Senior Dividend Stock.

• If at any time any dividend on any Senior Dividend Stock shall be in arrears, in whole or in part, no dividend shall be paid or declared and set apart for payment on the Series B Convertible Preferred Stock unless and until all accrued and unpaid dividends with respect to the Senior Dividend Stock, including the full dividends for the then current dividend period, shall have been paid or declared and set apart for payment, without interest.

• If at any time any dividend on any Senior Dividend Stock shall be in default, in whole or in part, no dividend shall be paid or declared and set apart for payment on the Series A Preferred Stock unless and until all accrued and unpaid dividends with respect to the Senior Dividend Stock, including the full dividends for the then current dividend period, shall have been paid or declared and set apart for payment, without interest.

• The respective definitions of Senior Dividend Stock, Senior Liquidation Stock, Junior Dividend Stock, Junior Liquidation Stock, Parity Dividend Stock and Parity Liquidation Stock shall also include any warrants, rights, calls, options or any other convertible securities, exercisable for or convertible into any of the Senior Dividend Stock, Senior Liquidation Stock, Junior Dividend Stock, Junior Liquidation Stock, Parity Dividend Stock and Parity Liquidation Stock, as the case may be.

• The Corporation may declare and pay or set aside for payment dividends on Senior Dividend Stock, Parity Dividend Stock and Junior Dividend Stock (other than Common Stock) in accordance with the rights and preferences of such shares of Senior Dividend Stock, Parity Dividend Stock and Junior Dividend Stock, without paying dividends on the Series A Preferred Stock.

• If at any time any dividend on any the Senior Dividend Stock shall be in default, in whole or in part, no dividend shall be paid or declared and set apart for payment on the Series A Convertible Preferred Stock unless and until all accrued and unpaid dividends with respect to the Senior Dividend Stock, including the full dividends for the then current dividend period, shall have been paid or declared and set apart for payment, without interest.

• If at any time any dividend on any Senior Dividend Stock shall be in arrears, in whole or in part, no dividend shall be paid or declared and set apart for payment on the Series F Convertible Preferred Stock unless and until all accrued and unpaid dividends with respect to the Senior Dividend Stock, including the full dividends for the then current dividend period, shall have been paid or declared and set apart for payment, without interest.

• Parity Dividend Stock shall mean any class or series of equity securities of the Bank expressly designated as ranking, with respect to dividend rights, on a parity with the Series A Preferred Stock and Senior Dividend Stock shall mean any class or series of equity securities of the Bank expressly designated as ranking, with respect to dividend rights, as senior to the Series A Preferred Stock.

More Definitions of Senior Dividend Stock

Senior Dividend Stock means any class or series of Capital Stock of the Company that entitles the holder thereof to the receipt of dividends in preference or priority to the holders of Junior Preferred Stock; the Senior Convertible Preferred Stock shall constitute Senior Dividend Stock.

Senior Dividend Stock means any class or series of capital stock of the Corporation ranking senior as to dividends thereon to the Series 1998/A Preferred Stock as to any dividends which have been declared on the Series 1998/A Preferred Stock.

Senior Dividend Stock means any class or series of Capital Stock of the Company that entitles the holder thereof to the receipt of dividends in preference or priority to the holders

Senior Dividend Stock means any class or series of capital stock of the Corporation ranking senior as to dividends to the Series A Convertible Preferred Stock. "Senior Liquidation Stock" shall mean any class or series of capital stock of the Corporation ranking senior as to liquidation rights to the Series A Convertible Preferred Stock. "Series A Convertible Preferred Stock" shall mean the Series A Convertible Preferred Stock of the Corporation. "Share Limitation Redemption Date" shall mean each date on which the Corporation is required to redeem shares of Series A Convertible Preferred Stock as provided in this Section 7(a). "Share Limitation Redemption Price" shall mean the greater of (i) the sum of (a) the sum of (1) the Conversion Value, (2) an amount equal to the accrued but unpaid dividends on the share of Series A Convertible Preferred Stock to be redeemed pursuant to Section 7(a), and (3) an amount equal to the accrued and unpaid interest on dividends in arrears on such share of Series A Convertible Preferred Stock through the applicable Share Limitation Redemption Date (as provided in Section 5) plus (b) an amount equal ---- to the product obtained by multiplying (x) the sum stated in the immediately preceding clause (a) times (y) the quotient (expressed as a percentage) ----- obtained by dividing (A) the amount determined by subtracting from 100 percent the Conversion Percentage in effect on the applicable Share Limitation Redemption Date by (B) the Conversion Percentage in effect on the applicable -- Share Limitation Redemption Date and (ii) an amount equal to the product obtained by multiplying (x) the number of shares of Common Stock which would, but for the redemption pursuant to Section 7(a), be issuable on conversion in accordance with Section 10(a) of one share of Series A Convertible Preferred Stock and any accrued and unpaid dividends thereon and any accrued and unpaid interest on dividends thereon in arrears if a Conversion Notice were given by the holder of such share of Series A Convertible Preferred Stock on the applicable Share Limitation Redemption Date (determined without regard to any limitation on conversion contained in Section 10(a)) times (y) the arithmetic ----- average of the Market Price of the Common Stock for the five consecutive trading days ending one trading day prior to the applicable Share Limitation Redemption Date. "Stockholder Approval" shall mean the approval by a majority of the votes cast by the holders of shares of Common Stock (i...