Examples of Series I Stock in a sentence
Concurrently with the mailing to holders of Common Stock of any document pursuant to which such holders may make an election of the type referred to in this Section, the Corporation shall mail a copy thereof to the record holders of the Series I Stock as of the date used for determining the holders of record of Common Stock entitled to such mailing.
The holders of the outstanding Series I Stock shall be entitled to receive quarter-annual dividends, as and when declared by the Board of Directors out of funds legally available therefor.
If there are no fractional shares or interests payable to holders of Common Stock, the holders of Series I Stock on the applicable record date (or effective time) shall receive in lieu of such fractional shares or interests the fair value thereof as determined by the Board of Directors.
Subject to the limitations and lock-up period set forth in the Series I Stock purchase Agreement, the holders of a majority of the Series I Registrable Securities may request Short-Form Registrations, if available.
No adjustment shall be made pursuant to this Section 3.6 (i) if the effect thereof would be to reduce the Conversion Price below the par value of the Common Stock or (ii) subject to Section 3.6(c) hereof, with respect to any share of Series I Stock that is converted, prior to the time such adjustment otherwise would be made.
The holders of Series I Stock on the applicable record date (or effective time) shall be entitled to receive in lieu of such fractional shares or interests the same consideration as is payable to holders of Common Stock with respect thereto.
All dividends that accrue in accordance with the foregoing provisions shall be cumulative from and after the day immediately succeeding the date of issuance of the relevant shares of Series I Stock.
On the repurchase date, the Corporation shall (i) pay the repurchase price plus an amount equal to accrued and unpaid dividends as provided in Section 5.1, if any, to the holders entitled thereto and (ii) issue to such holders any equity securities of the Corporation (other than Common Stock) that would at the time be issuable upon conversion of the shares of Series I Stock that are then being repurchased pursuant hereto.
In connection with the issuance of the Wachovia Trust Securities, the Trust and Wachovia entered into a forward stock purchase contract that obligated the Trust to purchase Wachovia’s Non-Cumulative Perpetual Class A Preferred Stock, Series I (the Series I Preferred Stock) and obligated Wachovia to make payments to the Trust of 0.60% per annum through the stock purchase date, March 15, 2011 (the Series I Stock Purchase Date).
When such certificate becomes effective, all matters set forth in the Certificate with respect to the Series I Stock shall be eliminated from the Certificate of Incorporation and the shares of Preferred Stock designated hereby as Series I Stock shall have the status of authorized and unissued shares of Preferred Stock and may be reissued as part of any new series of Preferred Stock to be created by resolution or resolutions of the Board of Directors.