Examples of Series E MRP Shares in a sentence
The asset coverage in respect of the Series E MRP Shares provided for in this Section 3(a)(iii) shall be determined on the basis of values calculated as of a time within 48 hours (not including Sundays or holidays) next preceding the time of such determination.
Subject to the foregoing rights of the Holders of the Series E MRP Shares, the identity and class (if the Board of Directors is then classified) of the nominees for such Directors may be fixed by the Board of Directors.
The affirmative vote of the Holders of a 1940 Act Majority of the Series E MRP Shares, voting separately as a series, shall be required with respect to any matter that materially and adversely affects the rights, preferences, or powers of the Series E MRP Shares in a manner different from that of other separate series of classes of the Company’s shares of capital stock.
For purposes of the foregoing, no matters shall be deemed to adversely affect any right, preference or power unless such matter (i) alters or abolishes any preferential right of the Series E MRP Shares; (ii) creates, alters or abolishes any right in respect of redemption of the Series E MRP Shares; or (iii) creates or alters (other than to abolish) any restriction on transfer applicable to the Series E MRP Shares.
The Holders of Series E MRP Shares shall be entitled to receive monthly cumulative cash dividends, when, as and if authorized by the Board of Directors and declared by the Company, out of funds legally available therefor, at the rate per annum equal to the Applicable Rate (or the Default Rate), and no more, payable on the respective dates determined as set forth in paragraph (b) of this Section 2.
The liquidation preference for Series E MRP Shares shall be $25.00 per share, plus an amount equal to all accumulated dividends thereon (whether or not earned or declared but without interest) to the date payment of such distribution is made in full or a sum sufficient for the payment thereof is set apart with the Paying Agent.
The Series E MRP Shares shall not have any preference or priority claim with respect to the Term Redemption Liquidity Account or any Liquidity Account Investments deposited therein.
Such Notice of Redemption will set forth (1) the date fixed for redemption, (2) the number and identity of Series E MRP Shares to be redeemed, (3) the redemption price (specifying the amount of accumulated dividends to be included therein and the amount of the redemption premium, if any), (4) that dividends on the shares to be redeemed will cease to accumulate on such date fixed for redemption, and (5) the provision of these terms of the Series E MRP Shares under which redemption shall be made.
Any dividend payment made on Series E MRP Shares shall first be credited against the earliest accumulated but unpaid dividends due with respect to such Series E MRP Shares.
The Company may instruct its custodian on any date to release any Liquidity Account Investments from segregation with respect to the Series E MRP Shares and to substitute therefor other Liquidity Account Investments not so segregated, so long as the assets segregated as Liquidity Account Investments at the close of business on such date have a Market Value equal to 110% of the Term Redemption Amount.