Examples of Series A-1 Redemption Price in a sentence
The Series A-1 Redemption Price shall be paid in cash in immediately available funds.
Commencing on the Series A1 Redemption Date and every three (3) months thereafter (until the payment in full of the Series A1 Redemption Price), the Corporation shall pay to each holder of Series A1 Stock one fourth (1/4) of the Series A1 Redemption Price with respect to each share of Series A1 Stock which each holder thereof has elected to have redeemed.
For the avoidance of doubt, the Series A-1 Redemption Price shall not include any declared dividends accrued on the Series A-1 Preferred Shares, regardless of whether paid or unpaid.
No dividends or other distributions shall be declared or paid on, nor shall the Corporation redeem, purchase or acquire any shares of common stock unless the Series A1 Redemption Price per share of all shares of Series A1 Stock elected to be redeemed shall have been paid in full.
Such notice (the “Series A-1 Redemption Notice”) shall state: (i) the Series A-1 Redemption Date; (ii) the number of Series A-1 Preferred Units to be redeemed and, if less than all outstanding Series A-1 Preferred Units are to be redeemed, the number of such units to be redeemed from such Series A-1 Holder; (iii) the Series A-1 Redemption Price; and (iv) that Series A-1 Distributions on the Series A-1 Preferred Units to be redeemed shall cease from and after such Series A-1 Redemption Date.
Until the Series A1 Redemption Price for each share of Series A1 Stock elected to be redeemed shall have been paid in full, such share of Series A1 Stock shall remain outstanding for all purposes and entitle the holder thereof to all the rights and privileges provided herein; provided, however, that Dividends and interest thereon shall cease to accrue on the Series A Redemption Date.
The Partnership shall be entitled to receive from the Series A-1 Transfer Agent the interest income, if any, earned on such funds deposited with the Series A-1 Transfer Agent (to the extent that such interest income is not required to pay the Series A-1 Redemption Price of the Series A-1 Preferred Units to be redeemed), and the holders of any Series A-1 Preferred Units so redeemed shall have no claim to any such interest income.
Upon the payment in full of the Series A1 Redemption Price with respect to the shares of Series A1 Stock elected to be redeemed, all rights of the holders of shares of Series A1 Stock as holders of Series A1 Stock shall cease as to those shares of Series A1 Stock redeemed, and such shares shall not thereafter be transferred on the books of the Corporation or be deemed to be outstanding for any purpose whatsoever.
For purposes hereof, the “Redemption Price” shall mean the Series D Redemption Price, Series C Redemption Price, Series B Redemption Price, the Series A-1 Redemption Price or the Series A Redemption Price, as applicable.
If at any time after the Series A1 Redemption Date the funds of the Corporation legally available for redemption of shares of Series A1 Stock are insufficient to pay any installment of the Series A1 Redemption Price, then, subject to clause (i) above, the Corporation will use those funds which are legally available therefor to make payment of the Series A1 Redemption Price ratably among the holders of such shares to be redeemed based upon their holdings of Series A1 Stock to be redeemed.