Examples of Series V Special Shares in a sentence
In the case of redemption of Series V Special Shares pursuant to 24.7(f)(i), the Company shall at least 15 Business Days before the date specified for redemption send by prepaid mail or deliver to each person who at the date of mailing or delivery is a registered Holder of Series V Special Shares to be redeemed a notice in writing of the intention of the Company to redeem such Series V Special Shares (the “Redemption Notice”).
On and after the date so specified for redemption, the Company shall pay or cause to be paid to or to the order of the Holders of Series V Special Shares to be redeemed the Series V Redemption Price for such shares on presentation and surrender, at the registered office of the Company or any other place or places within Canada specified in such notice of redemption, of the certificate or certificates representing Series V Special Shares called for redemption.
The Holders of the Series V Special Shares shall have the right to convert all or part of such Holder’s Series V Special Shares at any time and from time to time in the manner provided for herein (the “Optional Conversion”).
Each Series V Special Share shall be entitled to the number of votes equal to the total number of votes available to the Series V Special Shares as aforesaid, divided by the number of Series V Special Shares then issued and outstanding rounded up to the nearest whole number of votes, provided that if no other voting shares are issued and outstanding at the particular time the Holders of the Series V Special Shares shall be entitled to one vote per share.
Upon such deposit or payment being made or upon the date specified for redemption in such notice, whichever is the later, the Series V Special Shares in respect of which such deposit shall have been made shall be deemed to be redeemed and the rights of the Holders thereof shall be limited to receiving, without interest, their proportionate part of the amount so deposited upon presentation and surrender of the certificate or certificates representing their Series V Special Shares being redeemed.
If the Company makes a partial redemption of the then outstanding Series V Special Shares, the Company must redeem those Series V Special Shares on a pro rata basis among the Holders of the then outstanding Series V Special Shares.
No dividends shall at any time be declared or paid on or set apart for the Common Shares or any other shares of the Company junior to the Series V Special Shares unless all accrued dividends up to and including the dividend payable pursuant to this Section 24.7(c)(i) for the last completed quarter of the Company on the Series V Special Shares then issued and outstanding shall have been declared and paid at the date of such declaration or payment or setting apart.
The Company shall not be required to issue fractional Common Shares upon the conversion of Series V Special Shares.
Subject to the foregoing, a Holder of Series V Special Shares desiring to have shares redeemed by the Company as herein provided shall deposit with the Company the certificates evidencing the shares which the holder wishes to have redeemed, together with a notice requiring the redemption of all or a specific number of such shares.
In the event of conversion of Series V Special Shares into common shares at any time prior to redemption, the shares so converted shall not be redeemed.