Define: Arrears
in relation to any Share, all arrears of any dividend or other sums payable in respect of that Share, whether or not earned or declared and irrespective of whether or not the Company has had at any time sufficient Availa
in relation to any Share, all arrears of any dividend or other sums payable in respect of that Share, whether or not earned or declared and irrespective of whether or not the Company has had at any time sufficient Available Profits to pay such dividend or sums, together with all interest and other amounts payable on that Share;.
Relevant Circumstances
- When preference dividends remain unpaid and accrue against the shares
- If cumulative dividends roll up regardless of profits available
- Where exit waterfalls must include arrears in preferred amounts