Share Surplus definition

Share Surplus means the net assets of the Company (including, for the avoidance of doubt, any income and/or revenue arising from or relating to such assets) less the Company’s liabilities (including the fees and expenses of a liquidation or return of capital, as the case may be) less the D Share Surplus;

Share Surplus means the net assets of the Company less the C Share Surplus;

Share Surplus means the net assets of the Company less the C Share Surplus. 12.2 Issues of C Shares 12.2.1 Subject to the Statutes and in accordance with these Articles (including Article 4), the directors shall be authorised to issue C Shares on such terms as they determine provided that such terms are consistent with this Article 12. 12.2.2 Each tranche of C Shares, if in issue at the same time, shall be deemed to be a separate class of shares. The Directors may, if they so decide, designate each tranche of C Shares in such manner as they see fit in order that each tranche of C Shares can be identified.12.3 Dividend and pari passu ranking of C Shares, New Ordinary Shares and Deferred Shares 12.3.1 The holders of C Share(s) shall be entitled to receive, and participate in, any dividends declared only insofar as such dividend is attributed, at the sole discretion of the directors, to the C Share Surplus. 12.3.2 If any dividend is declared after the issue of C Shares and prior to Conversion, the holders of Ordinary Shares shall be entitled to receive and participate in such dividend only insofar as such dividend is not attributed, at the sole discretion of the directors, to the C Share Surplus. 12.3.3 Subject as provided in the following sentence, the New Ordinary Shares shall rank in full for all dividends and other distributions declared, made or paid after the Conversion Time and otherwise pari passu with Ordinary Shares in issue at the Conversion Time. For the avoidance of doubt, New Ordinary Shares shall not be entitled to any dividends or distributions which are declared prior to the Conversion Time but made or paid after the Conversion Time. 12.3.4 The Deferred Shares (to the extent that any are in issue and extant) shall not entitle the holders thereof to any dividend or any other right as the holders thereof to share in the profits (save as set out in Article 12.4) of the Company. 12.4 Rights as to capital 12.4.1 In the event that there are C Shares in issue on a winding up or a return of capital, the capital and assets of the Company available to shareholders shall, on such a winding up or a return of capital (otherwise than on a purchase by the Company of any of its shares), be applied as follows:

Examples of Share Surplus in a sentence

• If any dividend is declared after the issue of any tranche of C Shares and prior to the Conversion of that tranche, the holders of Ordinary Shares shall be entitled to receive and participate in such dividend only insofar as such dividend is not attributed, at the sole discretion of the Directors, to the C Share Surplus of the relevant tranche of C Shares.

• If any dividend is declared after the issue of any tranche of C Shares and prior to the Conversion of that tranche, the holders of Shares shall be entitled to receive and participate in such dividend only insofar as such dividend is not attributed, at the sole discretion of the Directors, to the C Share Surplus of the relevant tranche of C Shares.

• The holders of C Share(s) of a tranche shall be entitled to receive, and participate in, any dividends declared only insofar as such dividend is attributed, at the sole discretion of the Directors, to the C Share Surplus of that tranche.

• If any dividend is declared after the issue of C Shares and prior to Conversion, the holders of Ordinary Shares shall be entitled to receive and participate in such dividend only insofar as such dividend is not attributed, at the sole discretion of the Directors, to the C Share Surplus.

• In its vari- ant, the variable quota share and several fixed percentages can be set based on risk characteristics (which could include limit, geography or type of risk).Surplus Share: Surplus share treaties are a form of propor- tional treaty that allows the cedant to vary the quota share percentage and determine the proportion ceded at the time of underwriting each and every risk.

• Furthermore, the software developer may act as a service provider offering not only the software for sale but run the software as a service.In common areas local group of end users / housing companies pre-set the limits for cut of peak power consumption.

• The Directors may, if they so decide, designate each tranche of C Shares in such manner as they see fit in order that each tranche of C Shares can be identified.4.2 Dividends and pari passu ranking of C Shares and New Ordinary SharesThe holders of C Share(s) of a tranche shall be entitled to receive, and participate in, any dividends declared only insofar as such dividend is attributed, at the sole discretion of the Directors, to the C Share Surplus of that tranche.

• If any dividend is declared after the issue of any class of C Shares and prior to the Conversion of that class, the holders of Ordinary Shares shall be entitled to receive and participate in such dividend only insofar as such dividend is not attributed, at the sole discretion of the Directors, to the C Share Surplus.

• Keywords: Proportional Reinsurance, Quota Share Reinsurance, Variable Quota Share, Surplus Reinsurance, Table of Lines, Optimality, RORAC, de Finetti, Individual Risk Model.

• Rights as to income:Subject to article 7.2(c), the holders of Ordinary Shares will be entitled to receive such dividends as the Board may resolve to pay to such holders out of Ordinary Share Surplus.

More Definitions of Share Surplus

Share Surplus means the sum of Share Premium and Distributable Profits;

Share Surplus means the net assets of the Company attributable to the Shares;

Share Surplus means the net assets of the Company less the C Share Surplus; “Valuation Date” means the business day immediately preceding the Redemption Date.References to the Independent Accountants certifying any matter shall be construed to mean certification of their opinion as to such matter, whether qualified or not. For the purposes of this paragraph 5.3, other than in paragraph 5.3(vii) below, assets or investments attributable to the C Shares of a particular tranche or the Shareholders of C Shares of a particular tranche shall mean the net cash proceeds (after all expenses relating thereto) as invested in or represented by investments or cash or other assets from time to time. For the purposes of paragraph (A) of the definition of Calculation Time and the definition of Force Majeure Circumstances in relation to any tranche of C Shares, the assets attributable to the C Shares of that tranche shall be treated as having been “invested” if they have been expended by or on behalf of the Company in the acquisition or making of an investment (whether by subscription or purchase) or if an obligation to make such payment has arisen or crystallised (in each case unconditionally or subject only to the satisfaction of normal pre- issue conditions) in relation to which the consideration amount has been determined or is capable of being determined by operation of an agreed contractual mechanic.

Share Surplus means the net assets of the Company less the aggregate of all C Share Surpluses;

Share Surplus means the sum of Share P remium and D istributable Profits;

Share Surplus means the net assets of the Company less the C Share Surplus or, if there is more than one tranche of C Shares in issue at the relevant time, the C Share Surpluses attributable to each of such tranches.