Pari Passu Securities definition

Pari Passu Securities means any class or series of capital stock of the Company hereafter created specifically ranking, by its terms, on parity with the Designated Preferred Stock as to distribution of assets upon liquidation, dissolution or winding up of the Company, whether voluntary or involuntary.

Pari Passu Securities means any securities ranking by their terms pari passu with the Series A Preferred Stock in respect of redemption or distribution upon liquidation.

Pari Passu Securities means (i) the Company’s 5.875% Fixed to Floating Rate Junior Subordinated Notes due 2042, (ii) the Company’s 5.625% Fixed-to-Floating Rate Junior Subordinated Notes due 2043, (iii) the Company’s 5.20% Fixed-to-Floating Rate Junior Subordinated Notes due 2044, (iv) the Company’s 5.375% Fixed-to-Floating Rate Junior Subordinated Notes due 2045, (v) the Company’s 4.500% Fixed-to-Floating Rate Junior Subordinated Notes due 2047, (vi) the Company’s 5.700% Fixed-to-Floating Rate Junior Subordinated Notes due 2048, (vii) the Company’s 3.700% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2050, (viii) the Company’s 5.625% Junior Subordinated Notes due 2058 and (ix) the Company’s 4.125% Junior Subordinated Notes due 2060.

Examples of Pari Passu Securities in a sentence

• Issuance of other Senior or Pari Passu Securities The terms governing the Subordinated Capital Notes do not limit the Bank’s ability to incur additional indebtedness or issue or repurchase securities, other than the restriction on retirement of shares noted above.

• When dividends are not paid in full or a sum sufficient for such payment is not set apart, as aforesaid, all dividends declared upon shares of the Series B Preferred Stock and all dividends declared upon any other class or series of Pari Passu Securities shall be declared ratably in proportion to the respective amounts of dividends accumulated and unpaid on the Series B Preferred Stock and accumulated and unpaid on such Pari Passu Securities.

• The holders of the CCPS shall not receive the Remuneration in the following events: 1.1 Distributable items: to the extent that payment of the Remuneration, together with the remuneration intended to be paid during the current financial year on any other Pari Passu Securities or CET1 capital securities, exceeds the Distributable Items.

• Whenever the Company shall effect a Demand Registration, no securities other than the Registrable Securities or Pari Passu Securities shall be covered by such registration unless the Majority Holders of the Registration shall have consented in writing to the inclusion of such other securities.

• In the event that (i) a Capital Deficiency Event has occurred and is continuing, or (ii) any payment in relation to any Pari Passu Securities has been deferred and continues to be in deferral, in either case, as of the date that is five Business Days prior to (and including) an Interest Record Date, then Asahi Life shall be required to defer all (but not some only) of the accrued interest that would otherwise be due to be paid on such Interest Payment Date.

More Definitions of Pari Passu Securities

Pari Passu Securities means (i) indebtedness (A) the terms of which provide that such indebtedness ranks equally with the ICONs and (B) that qualifies or is issued to financing vehicles issuing securities that qualify as Tier 1 capital of the Company under the capital guidelines of the FRB; and (ii) guarantees of indebtedness described in clause (i) or securities issued by one or more financing vehicles described in clause (i)(B).

Pari Passu Securities means (i) indebtedness (A) the terms of which provide that such indebtedness ranks equally with the Junior Subordinated Debentures in right of payment and upon liquidation and (B) that qualifies or is issued to financing vehicles issuing securities that qualify as Tier 1 capital of the Guarantor under the capital guidelines of the Federal Reserve (as defined in the Trust Agreement); and (ii) guarantees of indebtedness described in clause (i) or securities issued by one or more financing vehicles described in clause (i)(B).

Pari Passu Securities means indebtedness of the Company that ranks in right of payment upon liquidation on a parity with the Debentures, and includes the Debentures.

Pari Passu Securities means any securities ranking by their terms pari passu with the Preferred Stock in respect of payment of dividends, redemption or distribution upon liquidation. Permitted Debt shall mean the following:

Pari Passu Securities means (i) the Company’s 4.125% Junior Subordinated Notes due 2060 (the “2060 Notes”), (ii) the Company’s 5.625% Junior Subordinated Notes due 2058, (iii) the Company’s 5.700% Fixed-to-Floating Rate Junior Subordinated Notes due 2048, (iv) the Company’s 4.500% Fixed-to-Floating Rate Junior Subordinated Notes due 2047, (v) the Company’s 5.375% Fixed-to-Floating Rate Junior Subordinated Notes due 2045, (vi) the Company’s 5.875% Fixed-to-Floating Rate Junior Subordinated Notes due 2042, (vii) the Company’s 5.625% Fixed-to-Floating Rate Junior Subordinated Notes due 2043, (viii) the Company’s 5.20% Fixed-to-Floating Rate Junior Subordinated Notes due 2044, (ix) the Company’s 5.75% Junior Subordinated Notes due 2052 and (x) the Company’s 5.70% Junior Subordinated Notes due 2053.

Pari Passu Securities means debt securities of the Issuer that rank in right of payment upon liquidation on a parity with the Debentures, and includes the Debentures.

Pari Passu Securities means any “Registrable Securities” (as defined in the 2005 Registration Rights Agreement) held by the Pari Passu Holders.