reset date means the First Reset Date and each date falling on the fifth anniversary of the preceding reset date, and no reset date, including the First Reset Date, will be adjusted for business days.
reset dividend determination date means, in respect of any reset period, the day that is three business days prior to the beginning of such reset period.
reset period means the period from, and including, each reset date to, but excluding, the next succeeding reset date, except for the initial reset period, which will be the period from, and including, the First Reset Date to, but excluding, the next succeeding reset date.
Series W Liquidation Preference shall have the meaning set forth in Section 5(a) hereof.
Series W Preferred Stock shall have the meaning set forth in Section 1 hereof.
Series W Preferred Stock Certificate shall have the meaning set forth in Section 14(a) hereof.
Transfer Agent means Computershare Trust Company, N.A., a federally chartered national association, acting as Transfer Agent, Calculation Agent, Registrar and paying agent for the Series W Preferred Stock, and its successors and assigns.
Trust shall have the meaning set forth in Section 6(d).
Section 4. Dividends.
(a) Rate. Holders shall be entitled to receive, when, as and if declared by the Board of Directors or any duly authorized committee thereof, but only out of funds legally available therefor, noncumulative cash dividends on each share of Series W Preferred Stock in the amounts specified below in this Section 4, and no more, payable on the 10th of each March, June, September and December (each, a dividend payment date), (i) quarterly in arrears from, and including, the date of issuance to, but excluding, December 10, 2025 (the First Reset Date), at an annual rate of 4.000% on the liquidation preference of $25,000 per share, beginning on March 10, 2021, and (ii) from, and including the First Reset Date, for each reset period, at an annual rate equal to the five-year treasury rate as of the most recent reset dividend determination date (as described below) plus 3.597% on the liquidation preference of $25,000 per share, quarterly in arrears, beginning on March 10, 2026.
The record date for payment of dividends on the Series W Preferred Stock will be the record date fixed by the Board of Directors or any other duly authorized committee thereof that is not more than 30 nor less than 10 days prior to such dividend payment date (each, a Dividend Record Date). Any such day that is a Dividend Record Date will be a Dividend Record Date whether or not such day is a business day.