LaSalle Hotel Properties | 6.3% Series J Cumulative Redeemable Preferred Shares (LHO.PRJ)
Prospectus excerpt: Generally, we may not redeem the Series J Preferred Shares until May 25, 2021. On or after May 25, 2021, we may, at our option, redeem the Series J Preferred Shares, in whole or from time to time in part, by paying $25.00 per share, plus any accrued and unpaid distributions to, but not including, the date of redemption. In addition, upon the occurrence of a change of control the result of which is that neither our common securities nor the common securities of the acquiring or surviving entity (or American Depositary Receipts (ôADRsö) representing such securities) are listed on the New York Stock Exchange (the ôNYSEö), the NYSE MKT or the NASDAQ Stock Market (ôNASDAQö) or listed or quoted on a successor exchange or quotation system, we may, at our option, redeem the Series J Preferred Shares, in whole or in part and within 120 days after the first date on which such change of control occurred, by paying $25.00 per share, plus any accrued and unpaid distributions to, but not including, the date of redemption. If we exercise our redemption right, you will not have the conversion right described below. The Series J Preferred Shares have no maturity date and will remain outstanding indefinitely unless redeemed by us or converted in connection with a change of control by you. Holders of shares of the Series J Preferred Shares will generally have no voting rights except for limited voting rights if we fail to pay distributions for six or more quarterly periods (whether or not consecutive) and in certain other circumstances.
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