Set apart for payment Definition Example with 5 Variations

Set apart for payment. Shall shall be deemed to include, without any action other than the following, the recording by the Corporation 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 of Directors, Trustees, the allocation of funds to be so paid on any series or class of capital stock Equity Shares of the Corporation; Trust; provided, however, that if any funds for any class or series of Junior Securities Shares or any class or series of Parity Securities Shares are placed in a separate account of the Corporation Trust or delivered to a disbursing, paying or other similar agent, then "set apart for payment" with respect to the Series A J Preferred Stock Shares shall mean placing such funds in a separate account or delivering such funds to a disbursing, paying or other similar agent. View More

Set apart for payment. Shall shall be deemed to include, without any action other than the following, the recording by the Corporation 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 of Directors, Trustees, the allocation of funds to be so paid on any series or class of capital stock Equity Shares of the Corporation; Trust; provided, however, that if any funds for any class or series of Junior Securities Shares or any class or series of Parity Securities Shares are placed in a separate account of the Corporation Trust or delivered to a disbursing, paying or other similar agent, then "set apart for payment" with respect to the Series A D Preferred Stock Shares shall mean placing such funds in a separate account or delivering such funds to a disbursing, paying or other similar agent. View More

Set apart for payment. Shall shall be deemed to include, without any action other than the following, the recording by the Corporation 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 of Directors, Trustees, the allocation of funds to be so paid on any series or class of capital stock Equity Shares of the Corporation; Trust; provided, however, that if any funds for any class or series of Junior Securities Shares or any class or series of Parity Securities Shares are placed in a separate account of the Corporation Trust or delivered to a disbursing, paying or other similar agent, then "set apart for payment" with respect to the Series A E Preferred Stock Shares shall mean placing such funds in a separate account or delivering such funds to a disbursing, paying or other similar agent. View More

Set apart for payment. Shall shall be deemed to include, without any action other than the following, the recording by the Corporation 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 of Directors, Trustees, the allocation of funds to be so paid on any series or class of capital stock Equity Shares of the Corporation; Trust; provided, however, that if any funds for any class or series of Junior Securities Shares or any class or series of Parity Securities Shares are placed in a separate account of the Corporation Trust or delivered to a disbursing, paying or other similar agent, then "set apart for payment" with respect to the Series A F Preferred Stock Shares shall mean placing such funds in a separate account or delivering such funds to a disbursing, paying or other similar agent. View More

Set apart for payment. Shall shall be deemed to include, without any action other than further action, the following, following: the recording by the Corporation in its accounting ledgers of any accounting or bookkeeping entry which that indicates, pursuant to an authorization by the Board and a declaration of dividends or other distribution by the Board of Directors, Corporation, the initial and continued allocation of funds to be so paid on any series or class of capital shares of stock of the Corporation;... provided, however, that if any funds for any class or series of Junior Securities Shares or any class or series of Parity Securities Shares are placed in a separate account of the Corporation or delivered to a disbursing, paying or other similar agent, then "set apart for payment" with respect to the Series A Preferred Stock Shares shall mean irrevocably placing such funds in a separate account or irrevocably delivering such funds to a disbursing, paying or other similar agent. View More