Common use of Certain Conversions or Exchanges Deemed Payment Clause in Contracts

Certain Conversions or Exchanges Deemed Payment. For the purposes of this Article only, (i) the issuance and delivery of junior securities upon conversion or exchange of Securities shall not be deemed to constitute a payment or distribution on account of the principal of (or premium, if any) or interest, if any, on Securities or on account of the purchase or other acquisition of Securities, and (ii) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such security. For the purposes of this Section, the term “junior securities” means (i) shares of any stock of any class of the Company and (ii) securities of the Company which are subordinated in right of payment to all Senior Indebtedness which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article.

Appears in 3 contracts

Samples: Subordinated Indenture (Metro Capital Trust V), Subordinated Indenture (Gsi Commerce Inc), Subordinated Indenture (Knoll Inc)

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Certain Conversions or Exchanges Deemed Payment. For the purposes of this Article XIII only, (ia) the issuance and delivery of junior securities (as defined below) upon conversion or exchange of Securities shall not be deemed to constitute a payment or distribution on account of the principal of or interest (or premium, if anyincluding any Additional Interest) or interest, if any, on the Securities or on account of the purchase or other acquisition of Securities, and (iib) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such securitySecurity. For the purposes of this Section, the term "junior securities" means (i) shares of any stock of any class of the Company and (ii) securities of the Company which that are subordinated in right of payment to all Senior Indebtedness which Debt that may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article. This instrument may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

Appears in 3 contracts

Samples: Junior Subordinated Indenture (Highlands Capital Trust I), Junior Subordinated Indenture (Resource Capital Trust I), Junior Subordinated Indenture (Southern Financial Capital Trust I)

Certain Conversions or Exchanges Deemed Payment. For the purposes of this Article only, (ia) the issuance and delivery of junior securities upon conversion or exchange of Securities shall not be deemed to constitute a payment or distribution on account of the principal of (or of, premium, if any) , or interest, if any, any interest or Additional Amounts on Securities or on account of the purchase or other acquisition of or Securities, and (iib) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such securitySecurity. For the purposes of this Section, the term "junior securities" means (i) shares of any stock of any class of the Company and (ii) securities of the Company which are subordinated in right of payment to all Senior Indebtedness which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article. This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one instrument.

Appears in 3 contracts

Samples: Indenture (Metris Companies Inc), Indenture (Ocwen Financial Corp), Indenture (Metris Companies Inc)

Certain Conversions or Exchanges Deemed Payment. For the purposes of this Article only, (ia) the issuance and delivery of junior securities upon conversion or exchange of Securities shall not be deemed to constitute a payment or distribution on account of the principal of (or , premium, if any) , or interest, if anyany interest or Additional Amounts, on Securities or on account of the purchase or other acquisition of Securities, and (iib) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such security. For the purposes of this Section, the term "junior securities" means (i) shares of any stock of any class of the Company and (ii) securities of the Company which are subordinated in right of payment to all Senior Indebtedness which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article. This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one instrument.

Appears in 2 contracts

Samples: Indenture (Amerus Life Holdings Inc), Indenture (Amerus Life Holdings Inc)

Certain Conversions or Exchanges Deemed Payment. For the purposes of this Article only, (ia) the issuance and delivery of junior securities upon conversion or exchange of Securities shall not be deemed to constitute a payment or distribution on account of the principal of (or premium, if any) or interest, if any, interest on Securities or on account of the purchase or other acquisition of Securities, and (iib) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such securitySecurity. For the purposes of this Section, the term “junior securities” means (i) shares of any stock of any class of the Company and (ii) securities of the Company which are subordinated in right of payment to all Senior Indebtedness of the Company which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article.

Appears in 2 contracts

Samples: Subordinated Indenture (Principal Financial Services Inc), Subordinated Indenture (Principal Financial Group Inc)

Certain Conversions or Exchanges Deemed Payment. For the purposes of this Article only, (ia) the issuance and delivery of junior securities upon conversion or exchange of Securities shall not be deemed to constitute a payment or distribution on account of the principal of (or premium, if any) or interest, if any, interest (including any Additional Interest) on Securities or on account of the purchase or other acquisition of Securities, and (iib) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such securitySecurity. For the purposes of this Section, the term “junior securities” means (i) shares of any stock of any class of the Company and (ii) securities of the Company which are subordinated in right of payment to all Senior Indebtedness which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article.

Appears in 2 contracts

Samples: Junior Subordinated Indenture (Principal Financial Group Inc), Junior Subordinated Indenture (Principal Financial Group Inc)

Certain Conversions or Exchanges Deemed Payment. For the purposes of this Article only, (ia) the issuance and delivery of junior securities upon conversion or exchange of Securities shall not be deemed to constitute a payment or distribution on account of the principal of (or premium, if any) or interest, if any, interest on Securities or on account of the purchase or other acquisition of Securities, and (iib) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such securitySecurity. For the purposes of this Section, the term “junior securities” means (i) shares of any stock of any class of the Company and (ii) securities of the Company which are subordinated in right of payment to all Senior Indebtedness which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article.

Appears in 2 contracts

Samples: Subordinated Indenture (Principal Financial Services Inc), Subordinated Indenture (Principal Financial Group Inc)

Certain Conversions or Exchanges Deemed Payment. For the purposes of this Article only, (ia) the issuance and delivery of junior securities upon conversion or exchange of Securities shall not be deemed to constitute a payment or distribution on account of the principal of (or premium, if any) or interest, if any, interest (including any Additional Interest) on Securities or on account of the purchase or other acquisition of Securities, and (iib) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such securitySecurity. For the purposes of this Section, the term "junior securities" means (i) shares of any stock of any class of the Company and (ii) securities of the Company which are subordinated in right of payment to all Senior Indebtedness Debt which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article. This instrument may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

Appears in 2 contracts

Samples: Junior Subordinated Indenture (Usb Holding Co Inc), Junior Subordinated Indenture (Usb Holding Co Inc)

Certain Conversions or Exchanges Deemed Payment. For the purposes of this Article only, (ia) the issuance and delivery of junior securities upon conversion or exchange of Securities shall not be deemed to constitute a payment or distribution on account of the principal of (or premium, if any) or interest, if any, interest (including any Additional Interest) on Securities or on account of the purchase or other acquisition of Securities, and (iib) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such security. For the purposes of this Section, the term “junior securities” means (i) shares of any stock of any class of the Company and (ii) securities of the Company which are subordinated in right of payment to all Senior Indebtedness which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article.

Appears in 2 contracts

Samples: Junior Subordinated Indenture (Delphi Financial Group Inc/De), Junior Subordinated Indenture (Delphi Financial Group Inc/De)

Certain Conversions or Exchanges Deemed Payment. For the ----------------------------------------------- purposes of this Article XIII only, (ia) the issuance and delivery of junior securities (as defined below) upon conversion or exchange of Securities shall not be deemed to constitute a payment or distribution on account of the principal of or interest (or premium, if anyincluding any Additional Interest) or interest, if any, on the Securities or on account of the purchase or other acquisition of Securities, and (iib) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such securitySecurity. For the purposes of this Section, the term "junior securities" means (i) shares of any stock of any class of the Company and (ii) securities of the Company which that are subordinated in right of payment to all Senior Indebtedness which Debt that may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article.

Appears in 2 contracts

Samples: Junior Subordinated Indenture (Commonwealth Bankshares Inc), Junior Subordinated Indenture (Commonwealth Bankshares Inc)

Certain Conversions or Exchanges Deemed Payment. For the purposes of this Article only, (ia) the issuance and delivery of junior securities upon conversion or exchange of Securities shall not be deemed to constitute a payment or distribution on account of the principal of (or premium, if any) or interest, if any, interest (including any Additional Interest) on Securities or on account of the purchase or other acquisition of Securities, and (iib) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such securitySecurity. For the purposes of this Section, the term “junior securities” means (i) shares of any stock of any class of the Company and (ii) securities of the Company which are subordinated in right of payment to all Senior Indebtedness of the Company which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article.

Appears in 2 contracts

Samples: Junior Subordinated Indenture (Principal Financial Group Inc), Junior Subordinated Indenture (Principal Financial Group Inc)

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Certain Conversions or Exchanges Deemed Payment. For the purposes of this Article only, (ia) the issuance and delivery of junior securities upon conversion or exchange of Debt Securities shall not be deemed to constitute a payment or distribution on account of the principal of (or premium, if any) or interest, if any, interest on Securities securities or on account of the purchase or other acquisition of Debt Securities, and (iib) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Debt Security shall be deemed to constitute payment on account of the principal of such security. For the purposes of this Section, the term "junior securities" means (i) shares of any stock of any class of the Company Issuer and (ii) securities of the Company Issuer which are subordinated in right of payment to all Senior Indebtedness Debt which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Debt Securities are so subordinated as provided in this Article.

Appears in 1 contract

Samples: Subordinated Indenture (Financial Security Assurance Holdings LTD/Ny/)

Certain Conversions or Exchanges Deemed Payment. For the purposes of this Article only, (ia) the issuance and delivery of junior securities upon conversion or exchange of Securities shall not be deemed to constitute a payment or distribution on account of the principal of (or premium, if any) or interest, if any, interest on Securities securities or on account of the purchase or other acquisition of Securities, and (iib) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such security. For the purposes of this Section, the term "junior securities" means (i) shares of any stock of any class of the Company and (ii) securities of the Company which are subordinated in right of payment to all Senior Indebtedness which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article.. ARTICLE THIRTEEN

Appears in 1 contract

Samples: Subordinated Indenture (Hartford Financial Services Group Inc/De)

Certain Conversions or Exchanges Deemed Payment. For the purposes of this Article only, (ia) the issuance and delivery of junior securities upon conversion or exchange of Securities shall not be deemed to constitute a payment or distribution on account of the principal of (or premium, if any) or interest, if any, interest (including any Additional Interest) on Securities or on account of the purchase or other acquisition of Securities, and (iib) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such security. For the purposes of this Section, the term “junior securities” means (i) shares of any stock of any class of the Company and (ii) securities of the Company which are subordinated in right of payment to all Senior Indebtedness Debt which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article.

Appears in 1 contract

Samples: Junior Subordinated Indenture (Lincoln National Corp)

Certain Conversions or Exchanges Deemed Payment. For the purposes of this Article only, (ia) the issuance and delivery of junior securities upon conversion or exchange of Securities shall not be deemed to constitute a payment or distribution on account of the principal of (or premium, if any) or interest, if any, interest (including any Additional Interest) on Securities or on account of the purchase or other acquisition of Securities, and (iib) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such securitySecurity. For the purposes of this Section, the term "junior securities" means (i) shares of any stock of any class of the Company and (ii) securities of the Company which are subordinated in right of payment to all Senior Indebtedness Debt which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article.. ****** This instrument may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 56 63

Appears in 1 contract

Samples: Junior Subordinated Indenture (Republic New York Capital Iv)

Certain Conversions or Exchanges Deemed Payment. For the purposes of this Article XIII only, (ia) the issuance and delivery of junior securities (as defined below) upon conversion or exchange of Securities shall not be deemed to constitute a payment or distribution on account of the principal of or interest (or premium, if anyincluding any Additional Interest) or interest, if any, on the Securities or on account of the purchase or other acquisition of Securities, and (iib) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such securitySecurity. For the purposes of this Section, the term "junior securities" means (i) shares of any stock of any class of the Company and (ii) securities of the Company which that are subordinated in right of payment to all Senior Indebtedness which Debt that may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article.

Appears in 1 contract

Samples: Junior Subordinated Indenture (Guaranty Capital Trust I)

Certain Conversions or Exchanges Deemed Payment. For the purposes of this Article only, (ia) the issuance and delivery of junior securities upon conversion or exchange of Securities shall not be deemed to constitute a payment or distribution on account of the principal of (or premium, if any) or interest, if any, interest (including any Additional Interest) on Securities or on account of the purchase or other acquisition of Securities, and (iib) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such securitySecurity. For the purposes of this Section, the term "junior securities" means (i) shares of any stock of any class of the Company and (ii) securities of the Company which are subordinated in right of payment to all Senior Indebtedness Debt which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article. 105 This instrument may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

Appears in 1 contract

Samples: Junior Subordinated Indenture (Bancorpsouth Inc)

Certain Conversions or Exchanges Deemed Payment. For ----------------------------------------------- the purposes of this Article only, (ia) the issuance and delivery of junior securities upon conversion or exchange of Securities shall not be deemed to constitute a payment or distribution on account of the principal of (or of, premium, if any) , or interest, if any, any interest or Additional Amounts on Securities or on account of the purchase or other acquisition of or Securities, and (iib) the payment, issuance or delivery of cash, property or securities (other than junior securities) upon conversion or exchange of a Security shall be deemed to constitute payment on account of the principal of such securitySecurity. For the purposes of this Section, the term "junior securities" means (i) shares of any stock of any class of the Company and (ii) securities of the Company which are subordinated in right of payment to all Senior Indebtedness which may be outstanding at the time of issuance or delivery of such securities to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article. This Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one instrument.

Appears in 1 contract

Samples: Indenture (Metris Companies Inc)

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