Series W Preferred Shares definition

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

Examples of Series W Preferred Shares in a sentence

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

• Except as otherwise provided in paragraph (d) of Section 2 of Part I of this Statement, dividends shall be payable on shares of: Series W Preferred Shares, for the Initial Rate Period on [ ], [ ], 1999, and on each [ ] thereafter.

• The Series W Preferred Shares shall constitute a separate series of Preferred Shares of the Trust, and each share of Series W Preferred Shares shall be identical except as provided in Section 11 of Part I of this Statement.

• The Initial Rate Period for shares of Series W Preferred Shares shall be the period from and including the Date of Original Issue thereof to but excluding [ ], 1999.

• The number of authorized shares constituting Series W Preferred Shares is 1,050.

• The Fund proposes to issue a series of auction preferred shares, par value $.0001 per share, designated Series W Preferred Shares, liquidation preference $25,000 per share ("Preferred Shares"), pursuant to Article X of the Fund's Bylaws (as defined below).

• Dividends on the Series M and Series W Preferred Shares are cumulative and are paid at a rate typically reset every seven and twenty-eight days, respectively, based on the results of an auction.

• The number of authorized shares constituting Series W Preferred Shares is 3,720.

• The Auction Agent shall normally conduct Auctions every Tuesday, Thursday, Friday, and, in the case of the Series W Preferred Shares, every 28 days after the first Auction, in accordance with the schedule set forth below.

• If you desire to tender Series T and/or W Preferred Shares and such Series T and/or W Preferred Shares cannot be delivered to the Depositary or you cannot comply with the procedure for book-entry transfer or your other required documents cannot be delivered to the Depositary, in any case, by the expiration of the Offer, you must tender such Series T or Series W Preferred Shares pursuant to the guaranteed delivery procedure set forth in Section 3 of the Offer to Purchase.