Series 4 Shares definition
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.
The Exchange Rights will be transferrable with, and will not be separable from, the Series 4 Shares.
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.
The holders of the Series 4 Shares shall be entitled to a dividend of seven percent (7%) per annum of the Stated Value (as defined below), on a cumulative basis with quarterly compounding (prorated for any portion of the applicable period during which the Series 4 Shares are outstanding).
Dividends shall accrue from the date of issuance of the Series 4 Shares and shall be paid on each Series 4 Share at the time that such Series 4 Share is converted or redeemed.
A Holder who holds Series 4 Shares on the Closing Date will be regarded as having received a benefit by virtue of the grant of the Exchange Rights as described in this short form prospectus to the extent of the value thereof.
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.
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.
During the year ended December 31, 2001, the holders of all 200 Series 4 Shares of Nortel Networks Limited exercised their right to exchange their Series 4 Shares for common shares of Nortel Networks Corporation.
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.