Additional Dividends. The Company and the Initial Purchasers agree that the Holders of Exchangeable Preferred Stock will suffer damages if the Company fails to fulfill its obligations under Section 2 or Section 3 hereof and that it would not be feasible to ascertain the extent of such damages with precision. Accordingly, the Company agrees to pay, as liquidated damages, additional dividends on the Exchangeable Preferred Stock ("Additional Dividends") under the circumstances and to the extent set forth in the Certificate of Designation. The Company shall notify the Transfer Agent within one business day after each and every date on which an event occurs in respect of which Additional Dividends are required to be paid (an "Event Date"). Any Additional Dividends will be payable in accordance with the Certificate of Designation on the next following dividend payment date.
Appears in 1 contract
Sources: Registration Rights Agreement (American Radio Systems Corp /Ma/)
Additional Dividends. The Company and the Initial Purchasers agree that the Holders of Exchangeable Underlying Preferred Stock will suffer damages if the Company fails to fulfill its obligations under Section 2 or Section 3 hereof and that it would not be feasible to ascertain the extent of such damages with precision. Accordingly, the Company agrees to pay, as liquidated damages, additional dividends on the Exchangeable Underlying Preferred Stock ("Additional Dividends") under the circumstances and -------------------- to the extent set forth in the Certificate of Designation. The Company shall notify the Transfer Agent within one business day after each and every date on which an event occurs in respect of which Additional Dividends are required to be paid (an "Event Date"). Any Additional Dividends will be payable in ---------- accordance with the Certificate of Designation on the next following dividend payment date.
Appears in 1 contract
Sources: Registration Rights Agreement (American Tower Corp /Ma/)