Senior Liquidation Preferred Shares mean the preferred shares of the Company ranking most senior in priority of payment as to liquidation distributions. The relative rankings and payment of the Liquidation Claims and other claims against the Company in any liquidation proceeding (seisan) in respect of the Company are in all events subject to the provisions of the Company Law, which prohibit distribution of residual assets to shareholders prior to payment or satisfaction of all of the then outstanding debts of the Company, including the Liquidation Claims to the extent not written down or cancelled pursuant to the Write-Down and Cancellation provisions, the Going Concern Write-Down provisions and the cancellation of interest payment provisions, subject to the subordination provisions, each described herein and in the Indenture. Notwithstanding the Securities being stated to rank ahead of certain preferred shares and common shares of the Company as described above, the Securities are subject to the Write-Down and Cancellation and a Going Concern Write-Down, as provided in Articles 13 and 14 of the Indenture. The Company shall make no amendment or modification to the subordination provisions contained in the Indenture that is prejudicial to any present or future creditor in respect of any Senior Indebtedness. No such amendment or modification shall in any event be effective against any such creditor. Each Holder of Securities, by acceptance of the Securities, agrees that if any payment of principal or interest in respect of the subordinated debt securities is made to such Holder after the occurrence of a Liquidation Event and the amount of such payment exceeds the amount, if any, that should have been paid to such Holder upon the proper application of the subordination provisions of the Securities, the payment of such excess amount is deemed null and void, and such Holder or the Trustee or Paying Agent (to the extent it has not paid such amount to any Holder) (as the case may be) is obliged to return the amount of the excess payment within ten days after receiving notice of the excess payment, and also agrees that, upon the occurrence of a Liquidation Event and for so long as such Liquidation Event continues, any liabilities of the Company to such Holder which would otherwise become so payable on or after the date on which such Liquidation Event occurs will not be set off against any liabilities of such Holder owed to the Company unless, until and only in such amount as the liabilities of the C...
Senior Liquidation Preferred Shares means the preferred shares of the Issuer ranking most senior in priority of payment as to liquidation distributions.
Senior Liquidation Preferred Shares means the preferred shares of the Company, ranking most senior in priority of payment as to liquidation distributions. “specially-related person of the Company” shall have the meaning set forth in Section 3.05.
More Definitions of Senior Liquidation Preferred Shares
Senior Liquidation Preferred Shares means our preferred shares ranking most senior in priority of payment as to liquidation distributions.