Series B CCPS definition

Series B CCPS means series B compulsorily convertible cumulative preference shares of the Company, having a face value INR 10 (Indian Rupees Ten) per share and issued at a premium of INR 12,033.51 (Indian Rupees Twelve Thousand and Thirty Three and Fifty One Paise).

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Series B CCPS means fully paid up 181,046 (One Hundred and Eighty One Thousand and Forty Six) compulsorily convertible preference shares of the Company having the rights, preferences and privileges as mentioned in Schedule D of this Agreement.

Series B CCPS means Series B cumulative compulsorily convertible preference shares in the Share Capital of the Company having a face value of INR 6,000 (Indian Rupees Six Thousand) each and a subscription price of INR 283,749 (Indian Rupees Two Hundred Eighty Three Thousand Seven Hundred Forty Nine) issued in accordance with the SSPA, and having the terms as set out in Schedule 4.

Examples of Series B CCPS in a sentence

• It is clarified that the Proparco CCPS shall have priority and preference over the Series A CCPS, Series B CCPS, Series C CCPS, Series D CCPS, Series F CCPS, Series H CCPS and Equity Shares issued by the Company, and the proceeds shall not be distributed to Series A CCPS, Series B CCPS, Series C CCPS, Series D CCPS, Series F CCPS, Series H CCPS and Equity Shares unless Proparco CCPS has received its applicable Senior Liquidation Price.

• Notwithstanding the above, the holders of the Series B CCPS will also be entitled to the buy-back preferences in accordance with the terms of this Agreement and in order of preference set forth in this Agreement.

• The dividends payable on the Series B CCPS shall be senior to dividend payments to holders of Series A CCPS and other Equity Shares of the Company.

• For avoidance of doubts, the holders of Series B CCPS shall not be entitled to any proceeds over and above their entitlements under Clause 4.1, Clause 6.4, Clause 6.5 or Clause 9 of the SHA, irrespective of the Conversion Factor.

• For the purpose of clarification, nothing herein shall affect the rights of the holders of the Series A CCPS or Series B CCPS or Series C CCPS (as defined under the Shareholders’ Agreement) in so far as such Terminating Investor or Non Performing Investor is a holder of Series A CCPS or Series B CCPS or Series C CCPS.

• Each of the holders of Series B CCPS shall be entitled to payment of 8% (eight per cent) non- cumulative dividend per annum (calculated on the sum of the face value and premium paid) on each of the Series B CCPS by way of dividend from the Company in accordance with applicable Law as and when the Board of the Company declares any dividend.

• It is clarified that the Series H CCPS shall convert on the listing of the Equity Shares pursuant to the QIPO or IPO as approved by the Shareholders, if all existing Equity Securities (including the CCDs, Series A CCPS, Series B CCPS, Series C CCPS, Series D CCPS, Series F CCPS and Proparco CCPS) convert on or before the date of conversion of the Series H CCPS.

• Subject to the terms of this Agreement, the Series B CCPS shall be freely transferable to any Person, and the holders of the Series B CCPS may assign all or any of the Series B CCPS and any rights attaching under the Transaction Documents, without the prior consent of any Person.

• Upon the occurrence of a Liquidation Event A or Liquidation Event B with respect to the Company or its Subsidiaries and in accordance with the terms of this Agreement, the holders of the Series B CCPS shall receive the Liquidation Preference in accordance with the terms of this Agreement and in the order of precedence set forth in this Agreement.

• For the purpose of clarification in relation to this paragraph, upon payment of the Applicable Liquidation Price as stated in Clause paragraph 7.1, the holders of CCDs, Proparco CCPS, Series H CCPS, Series B CCPS, Series C CCPS, Series D CCPS and Series A CCPS shall not be entitled to participate or claim a share in such additional proceeds available for distribution.

More Definitions of Series B CCPS

Series B CCPS means collective reference to Series B compulsorily convertible cumulative preference shares of the Company having par value of INR 10 (Indian Rupees Ten only) and having such terms as set out in these Articles.

Series B CCPS means the Series B compulsorily convertible preference shares of the Company, each having a face value of INR 10 (Indian Rupees Ten) and carrying such terms and conditions as are set out in these Articles and as agreed amongst the Company and the Shareholders.

Series B CCPS means a collective reference to such number of Series B compulsorily convertible cumulative preference shares as set out in Part C of Schedule 4 of the Series B Subscription Agreement issued to each of the Principal Investors except Sands Capital, Sequoia and the Series D Investors in accordance with the Series B Subscription Agreement and having such terms as set out in this Agreement.

Series B CCPS means series B compulsorily convertible preference shares having a face value of INR 5 (Indian Rupees Five) each, to be issued by the Resulting Company, having terms as set out in the articles of association of the Resulting Company;

Series B CCPS means a collective reference to such number of Series B compulsorily convertible cumulative preference issued to each of the Principal Investors (except Sequoia, IFC, Sands Capital and the Series D Investors) and having such terms as set out in these Articles.

Series B CCPS means such number of series B compulsorily convertible cumulative preference shares of the Company, having a face value INR 10 (Indian Rupees Ten only) per share and issued at a premium