Examples of Series 4 Shares in a sentence
Nortel Networks Corporation issued in aggregate approximately 9,035,000 common shares to the former holders of Series 4 Shares.
STATUS OF SHARES The Series 4 Shares of a Holder are not Taxable Preferred Shares, Short-term Preferred Shares or shares subject to subsection 112(2.2) or 112(2.4) of the Act.
The registrar and transfer agent for the Series 4 Shares and for the Exchange Rights is Montreal Trust Company of Canada at its principal office in Toronto, Ontario.
The Series 4 Shares are Taxable RFI Shares (unless prescribed by Regulations) and are not Term Preferred Shares for purposes of the Act.
In the case of a Holder that is a Specified Financial Institution, such deductibility will depend upon the Series 4 Shares not being Term Preferred Shares of such Holder.
Every reference herein to the Common Stock of the Company (unless a different intention is expressed) shall be to the shares of the Common Stock of the Company, $.02 par value, as such stock exists immediately after the issuance of the Series 4 Shares provided for hereunder, or to stock into which such Common Stock may be changed from time to time thereafter.
In the opinion of Fraser & Beatty, the following summary presents fairly the principal Canadian federal income tax considerations for a holder of Series 4 Shares ("Holder") which, for purposes of the Income Tax Act (Canada) (the "Act") and the regulations made thereunder (the "Regulations"), as in force on the date hereof, is a corporation resident in Canada, is not a Specified Person and holds the Series 4 Shares in the ordinary course of its business as inventory of the business.
In the event that the Series 4 Shares were considered to be Term Preferred Shares, they would not be Taxable RFI Shares.
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As a result, pursuant to an agreement in respect of the Series 4 Shares exchange rights, Nortel Networks Limited issued approximately 4,090,000 common shares to NNC.