Series M Preferred Shares definition

Series M Preferred Shares means the Auction Rate Cumulative Preferred Shares, Series M.

Series M Preferred Shares means the 5.25% Series M Cumulative Redeemable Preferred Shares of Beneficial Interest (liquidation preference $25.00 per share), no par value, issued by the General Partner.

Series M Preferred Shares means the shares of Series M ------------------------- Cumulative Convertible Redeemable Preferred Shares. "Set apart for payment" shall be deemed to include, without any action --------------------- other than the following, the recording by the Trust in its accounting ledgers of any accounting or bookkeeping entry which indicates, pursuant to a declaration of dividends or other distribution by the Board, the allocation of funds to be so paid on any series or class of Shares; provided, however, that if any funds for any class or series of Junior -------- ------- Shares or any class or series of Shares ranking on a parity with the Series M Preferred Shares as to the payment of dividends are placed in a separate account of the Trust or delivered to a disbursing, paying or other similar agent, then "set apart for payment" with respect to the Series M Preferred Shares shall mean placing such funds in a separate account or delivering such funds to a disbursing, paying or other similar agent.

Examples of Series M Preferred Shares in a sentence

• The Series M Preferred Shares shall constitute a separate series of preferred shares of beneficial interest of the Trust, and each share of Series M Preferred Shares shall be identical.

• The Series M Preferred Shares are not convertible into or exchangeable for any other property or securities of the Corporation.

• At any time that the General Partner exercises its right to redeem all or any of the Series M Preferred Shares, the General Partner shall exercise its right to cause the Partnership to redeem an equal number of Series M Preferred Units.

• The Series M Preferred Stock shall not pay a dividend; provided that no cash dividends or distributions shall be declared or paid or set apart for payment on the Common Stock unless such cash dividend or distribution is likewise declared, paid or set apart for payment on the Series M Preferred Shares.

• The number of authorized shares of the Series M Preferred Shares shall be 736,000.

• On and after January 31, 2011, the Corporation may, at its option, redeem at any time all or, from time to time, part of the Series M Preferred Shares at a price per share (the “Series M Redemption Price”), payable in cash, of $250.00, together with all accrued and unpaid distributions thereon, without interest, to and including the date fixed for redemption (the “Series M Redemption Date”).

• The Series M Preferred Shares have no stated maturity and will not be subject to any sinking fund or mandatory redemption provisions.

• Except as required by law and as set forth below, the holders of the Series M Preferred Shares shall not be entitled to vote at any meeting of the shareholders for the election of Directors or for any other purpose, to otherwise participate in any action taken by the Corporation or the shareholders thereof or to receive notice of any meeting of shareholders.

• Unless the context otherwise requires, the terms defined in this subparagraph A of paragraph 1 shall have, for all purposes of these terms of the Series M Preferred Shares, the meanings herein specified (with terms defined in the singular having comparable meanings when used in the plural).

• It should also list and describe in detail proposed management and monitoring activities aimed at avoiding and minimising PASS disturbance.