Senior Preferred Share definition

Senior Preferred Share has the meaning set forth in the Subscription Agreement.
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Senior Preferred Share means a share of Series B-1 Preferred Shares, Series B-2 Preferred Shares, Series B-3 Preferred Shares, Series B-3+ Preferred Shares, Series C Preferred Shares, Series D Preferred Shares, or Series E Preferred Shares, as the case may be, and, a “Junior Share” relative to a Senior Preferred Share shall mean a share of any series of preferred shares junior in preference to such Senior Preferred Share with respect to liquidation preference payment and right to receive redemption payment as set forth in the Restated Articles.
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Examples of Senior Preferred Share in a sentence

  • The Senior Preferred Share Obligations shall not, however, be released, discharged, limited or affected by the failure or omission of the Holders to prove the whole or part of any claim against the Corporation.

  • The Guarantor shall have no right of subrogation in respect of any payment made to the Holders hereunder until such time as the Senior Preferred Share Obligations have been fully satisfied.

  • The Guarantor guarantees that the Senior Preferred Share Obligations will be paid strictly in accordance with the terms of the Senior Preferred Shares and this Guarantee within the time required by Section 2.1, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any such terms or the rights of the Holders with respect thereto.

  • Proof of execution of any such instrument or of a writing appointing any such agent, or of the holding by any Person of a Senior Preferred Share, shall be sufficient for any purpose of this Guarantee and conclusive in favour of the Security Trustee, the Guarantor and the Corporation, if made in the manner provided in this Section.

  • This Guarantee shall apply to and secure any ultimate balance due or remaining due to the Holders in respect of the Senior Preferred Share Obligations and shall be binding as an absolute and continuing obligation of the Guarantor.

  • The Guarantor assumes full responsibility for keeping fully informed of the financial condition of the Corporation and all other circumstances affecting the Corporation’s ability to pay the Senior Preferred Share Obligations.

  • The Guarantor’s obligation to pay Senior Preferred Share Obligations may be satisfied by (i) direct payment to the applicable Holders or (ii) payment to the applicable Holders through the facilities of the Security Trustee.

  • Upon the acceleration, demand or maturity of any Senior Indebtedness whether by lapse of time, acceleration, demand or otherwise, then, except as provided in Section 3.7, all principal of and interest on all such matured Senior Indebtedness shall first be paid in full, or shall first have been duly provided for, before any payment by the Guarantor is made on account of the Senior Preferred Share Obligations.

  • The Security Trustee’s remuneration shall be payable out of any funds coming into the possession of the Security Trustee in priority to any payment of the Senior Preferred Share Obligations.

  • If any amount is paid to the Guarantor on account of any subrogation arising hereunder at any time when the Senior Preferred Share Obligations have not been fully satisfied, such amount shall be held in trust by the Guarantor for the benefit of the Holders and shall forthwith be paid to the Holders to be credited and applied against the applicable Senior Preferred Share Obligations.