Series B Liquidation Amount definition

Series B Liquidation Amount means the greater of (a) the aggregate Series B Liquidation Preference plus the aggregate Series B Redemption Premium or (b) an amount per Series B Preferred Unit equal to the amount which would have been payable to a Series B Preferred Unit holder had each Series B Preferred Unit been converted into OP Units immediately prior to such Liquidation.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Series B Liquidation Amount means, as of any date of determination with respect to a Series B Preferred Unit, the sum of (a) the Series B Preferred Unit Price and (b) an amount sufficient to provide the Holdings Member an IRR equal to 20% with respect to such Series B Preferred Unit as of such date of determination, taking into account all distributions paid to the Holdings Member in respect of such Series B Preferred Unit.

Series B Liquidation Amount means, with respect to each share of Series B Preferred Stock, an amount equal to $100 plus an amount equal to the accrued and unpaid dividends and distributions on such share of Series B Preferred Stock, whether or not declared, to the date of payment, including for any partial monthly period, calculated in accordance with the Company Certificate.

Examples of Series B Liquidation Amount in a sentence

The amount paid to Warburg pursuant to the previous sentence shall be applied first to the Promissory Note Payoff Amount until the Promissory Note Payoff Amount shall have been paid in full and then, if any amount shall be remaining, pro rata to the Series A Liquidation Amount and Series B Liquidation Amount until the Series A Liquidation Amount and Series B Liquidation Amount shall have been paid in full.
Notwithstanding the foregoing, a holder of Series B Preferred will not be required to comply with Section 5.4(a) if the amount of cash proceeds or Liquid Securities per share of Series B Preferred received by such holder upon the Liquidity Event is less than the Series B Liquidation Amount (as such term is defined in the Restated Certificate).
Such amount shall be applied by Warburg first to the Promissory Note Payoff Amount until the Promissory Note Payoff Amount shall have been paid in full and then, if any amount shall be remaining, pro rata to the Series A Liquidation Amount and Series B Liquidation Amount until the Series A Liquidation Amount and Series B Liquidation Amount shall have been paid in full.
As used herein, the term “Series B Redemption Price” shall have the same meaning as Series B Liquidation Amount.
The Series B Liquidation Amount issued and paid upon conversion of shares of Series B Preferred Stock in accordance with the terms hereof shall be deemed to have been issued and paid in full satisfaction of all rights pertaining to such Series B Preferred Stock.

More Definitions of Series B Liquidation Amount

Series B Liquidation Amount is defined in Section 5.1(d).

Series B Liquidation Amount means an amount per Series B Preferred Unit equal to the greater of (a) the Series B Issue Price, multiplied by (i) on or prior to [•], 202210, 110%, or (ii) after [•], 202211, 105%, plus, in each case, any Series B Unpaid Distribution owed on each Series B Preferred Unit, and (b) the amount such Series B Preferred Units would be entitled to if converted pursuant to Paragraph 10(a) of this Supplemental Terms Annex into Common Units (whether or not the Series B Preferred Units are then so convertible pursuant to such Paragraph 10(a)).

Series B Liquidation Amount means the amount payable upon Liquidation to the holders of the Series B Stock, as provided in the Certificate of Designations on file with the Delaware Secretary of State with respect to the Series B Stock, (vi) "Series C Stock" means the Corporation's Series C Convertible Preferred Stock, $.01 par value, (vii) the "Series C Liquidation Amount" means the amount payable upon Liquidation to the holders of the Series C Stock, as provided in the Certificate of Designations on file with the Delaware Secretary of State with respect to the Series C Stock, and (viii) the "Series D Liquidation Amount" means $12.00 per share of Series D Stock plus all declared and unpaid dividends thereon (if any) through the effective date of Liquidation.

Series B Liquidation Amount means the Series B Liquidation Preference as defined in Article IV(A)(5.1)(b) of the Company Articles of Organization, as calculated on a per share basis as of the Effective Time and based on the Aggregate Consideration, and set forth on the Closing Payment Certificate.

Series B Liquidation Amount means the amount to be paid pursuant to Section 3.2(a)(ii) of Article III of the Company Certificate of Incorporation, as calculated on a per share basis as of the Effective Time and set forth on the Closing Payment Certificate.

Series B Liquidation Amount means Ten Dollars ($10.00) per share of Series B Stock plus all declared and unpaid dividends thereon (if any) through the effective date of Liquidation.

Series B Liquidation Amount means $5,500,000, which is the value of the Merger Consideration which would be allocated to the holders of the Company's Series B Preferred Stock, as a group, under the terms of the Charter assuming none of the holders of Series B Preferred Stock elected to convert their shares of Series B Preferred Stock into Common Stock prior to the Effective Time. This represents such number of shares of Parent Common Stock as is obtained by dividing $5,500,000 by the Average Closing Price.