Examples of Series K Preferred Shares in a sentence
As a condition to exchange, the General Partner may require the holders of Series K Preferred Units to make such representations as may be reasonably necessary for the General Partner to establish that the issuance of Series K Preferred Shares pursuant to the exchange shall not be required to be registered under the Securities Act or any state securities laws.
Any Series K Preferred Shares issued pursuant to this Section 19.8 shall be delivered as shares which are duly authorized, validly issued, fully paid and nonassessable, free of any pledge, lien, encumbrance or restriction other than those provided in the Charter, the Bylaws of the General Partner, the Securities Act and relevant state securities or blue sky laws.
Further for purposes of the foregoing, in the event of an exchange of Series K Preferred Units for Series K Preferred Shares, if the accrued and unpaid distributions per Series K Preferred Unit is not the same for each Series K Preferred Unit, the accrued and unpaid distributions per Series K Preferred Unit for each such Series K Preferred Unit shall be equal to the greatest amount of such accrued and unpaid distributions per Series K Preferred Unit on any such unit.
Such distributions will be payable (A) quarterly in arrears, on the 15th day of January, April, July and October of each year and (B) in the event of (i) an exchange of Series K Preferred Units into Series K Preferred Shares, or (ii) a redemption of Series K Preferred Units, on the exchange date or redemption date, as applicable (each a "Series K Preferred Unit Distribution Payment Date"), commencing on the first of such payment dates to occur following their original date of issuance.
Series K Preferred Units shall be deemed canceled (and any corresponding Partnership Interest represented thereby deemed terminated) simultaneously with the delivery of shares of Series K Preferred Shares (with respect to Series K Preferred Units exchanged) or simultaneously with the redemption date (with respect to Series K Preferred Units redeemed).
In addition, no transfer may be made to any person if such transfer would cause the exchange of the Series K Preferred Units for Series K Preferred Shares, as provided herein, to be required to be registered under the Securities Act of 1933, as amended, or any state securities laws.
Such distributions will be payable (A) quarterly in arrears, on the 15th day of January, April, July and October of each year and (B) in the event of (i) an exchange of Series K Preferred Units into Series K Preferred Shares, or (ii) a redemption of Series K Preferred Units, on the exchange date or redemption date, as applicable (each a “Series K Preferred Unit Distribution Payment Date”), commencing on the first of such payment dates to occur following their original date of issuance.
At any time that the General Partner exercises its right to redeem all or any of the Series K Preferred Shares, the General Partner shall exercise its right to cause the Partnership to redeem an equal number of Series K Preferred Units.
The Trust and the Transfer Agent may deem and treat the record holder of any Series K Preferred Shares as the true and lawful owner thereof for all purposes, and neither the Trust nor the Transfer Agent shall be affected by any notice to the contrary.
To the extent any such attempted exchange for Series K Preferred Shares would be in violation of the previous sentence, it shall be void ab initio and such Series K Limited Partner shall not acquire any rights or economic interest in the Series K Preferred Shares otherwise issuable upon such exchange.