Series T Preferred Stock means the shares of the Company’s Series T Contingent Convertible Perpetual Non-Cumulative Preferred Stock, no par value and liquidation preference $100,000 per share.

Series T Preferred Stock means shares of the Company’s Non-Cumulative Perpetual Class A Preferred Stock, Series T, no par value, with a liquidation preference amount of $25,000 per share, designated and described in the Certificate of Designation.

Series T Preferred Stock together with the Tidelands Stock, the “Tidelands Capital Stock”). Tidelands Bank has authorized capital stock consisting solely of 10,000,000 shares of common stock, $5.00 par value per share (“Tidelands Bank Stock”), 5,679,118 of which are issued and outstanding as of the date hereof. All of the issued and outstanding shares of Tidelands Capital Stock and Tidelands Bank Stock are duly and validly issued, fully paid and non-assessable and were offered, issued and sold in compliance with all applicable federal and state securities laws. No Person has any right of rescission or, to the knowledge of Tidelands, claim for damages under federal or state securities laws with respect to the issuance of any shares Tidelands Capital Stock or Tidelands Bank Stock previously issued. None of the shares of Tidelands Capital Stock or Tidelands Bank Stock has been issued in violation of any preemptive or other rights of its respective shareholders. All of the issued and outstanding shares of Tidelands Bank Stock are owned by Tidelands. Tidelands Bank has no subsidiaries.

Examples of Series T Preferred Stock in a sentence

If the assets of the Corporation are not sufficient to pay in full the Liquidation Preference to all holders of Series T Preferred Stock and all holders of any Parity Stock, the amounts paid to the holders of Series T Preferred Stock and to the holders of all Parity Stock shall be pro rata in accordance with the respective aggregate liquidation preference of Series T Preferred Stock and all such Parity Stock.
Dividends on each share of Series T Preferred Stock will accrue at a rate per annum equal to 6.00%.
The holders of Series T Preferred Stock shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Corporation other than what is expressly provided for in this Section 5.
The record date for payment of dividends on the Series T Preferred Stock shall be the last Business Day of the calendar month immediately preceding the month during which the Dividend Payment Date falls or such other date as determined by the Corporation’s Board of Directors.
Shares of Series T Preferred Stock are not subject to the operation of a sinking fund.

More Definitions of Series T Preferred Stock

Series T Preferred Stock has the meaning set forth in the Recitals.

Series T Preferred Stock means shares of the Company’s Series T Preferred Stock, par value $0.00001 per share.

Series T Preferred Stock has the meaning set forth in Section 1 hereof.

Series T Preferred Stock shall have the meaning provided in the recital above.

Series T Preferred Stock means the shares of the Corporation’s 3.400% Fixed-Rate Reset Non- Cumulative Perpetual Preferred Stock, Series T, $1.00 par value, with a liquidation preference of $100,000 per share, designated in the Statement and described in the Officer’s Certificate delivered pursuant to Section 2.3 hereof. “Statement” shall mean the relevant Statement with Respect to Shares filed with the Department of State of the Commonwealth of Pennsylvania establishing the Series T Preferred Stock as a series of preferred stock of the Corporation. “Trust Company” shall mean Computershare Trust Company, N.A. ARTICLE II APPOINTMENT OF DEPOSITARY; BOOK-ENTRY SYSTEM; FORM OF AND TRANSFER OF RECEIPTS; DEPOSIT OF SERIES T PREFERRED STOCK; EXECUTION AND DELIVERY, TRANSFER, SURRENDER AND REDEMPTION OF RECEIPTS Section 2.1

Series T Preferred Stock has the meaning set forth in Section 5.1(h).