Examples of Series D Preference in a sentence
If after the full liquidation Series D Preference Amount on all issued and outstanding Series D Preferred Shares has been paid, the Company has insufficient assets to permit payment of the Series C Preference Amount in full to all holders of Series C Preferred Shares, then the assets of the Company shall be distributed ratably to the holders of the Series C Preferred Shares in proportion to the Series C Preference Amount each such holder of Series C Preferred Shares would otherwise be entitled to receive.
If the assets and funds are insufficient to permit the full payment of the Series D Preference Amount on all Series D Preferred Shares, then the entire assets and funds of the Company legally available for distribution to the Series D Preferred Shares shall be distributed ratably among the holders of the Series D Preferred Shares in proportion to the aggregate Series D Preference Amount each such holder is otherwise entitled to receive pursuant to this Section 4.6(i)(c).
If the Company has insufficient assets to permit payment of the Series D Preference Amount in full to all holders of Series D Preferred Shares, then the assets of the Company shall be distributed ratably to the holders of the Series D Preferred Shares in proportion to the Series D Preference Amount each such holder of Series D Preferred Shares would otherwise be entitled to receive.
Any notice mailed as provided in this subsection shall be conclusively presumed to have been duly given, whether or not the holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any holder of Series D Preference Shares designated for redemption shall not affect the validity of the proceedings for the redemption of any other Series D Preference Shares.
The holders of Series D Preference Shares shall not have any voting rights except as set forth below or as otherwise from time to time required by law.
Subject to the provisions hereof, the Company shall have full power and authority to prescribe the terms and conditions upon which Series D Preference Shares shall be redeemed from time to time.
The Series D Preference Shares shall not be subject to any mandatory redemption, sinking fund, retirement fund or purchase fund or other similar provisions.
No Series D Preference Share shall have any rights of preemption whatsoever as to any securities of the Company, or any warrants, rights or options issued or granted with respect thereto, regardless of how such securities, or such warrants, rights or options, may be designated, issued or granted.
Notwithstanding the foregoing, if the Series D Preference Shares or any depositary shares representing interests in the Series D Preference Shares are issued in book-entry form through DTC or any other similar facility, notice of redemption may be given to the holders of Series D Preference Shares at such time and in any manner permitted by such facility.
Under Bermuda law, the Company may not lawfully redeem Preference Shares (including the Series D Preference Shares) at any time if the Company has reasonable grounds for believing that the Company is or would after the redemption be unable to pay its liabilities as they become due.