DIRECT ACTION BY HOLDERS OF PREFERRED SECURITIES. Any registered holder of the Preferred Securities issued by the Trust shall have the right, upon the occurrence of an Event of Default described in Section 7.1(a)(i) or 7.1(a)(ii), to institute a suit directly against the Company for enforcement of payment to such holder of principal of and (subject to Sections 2.4 and 4.1) interest (including any Additional Interest) on the Debentures having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement) of such Preferred Securities held by such holder. The Company may not amend this Indenture to remove this right to institute a suit directly against the Company without the prior consent of the holders of all the Preferred Securities.
Appears in 9 contracts
Samples: Indenture Indenture (Pennfirst Capital Trust I), Bankunited Capital Ii, Bankunited Capital Iii
DIRECT ACTION BY HOLDERS OF PREFERRED SECURITIES. Any registered holder of the Preferred Securities issued by the Trust shall have the right, upon the occurrence of an Event of Default described in Section 7.1(a)(i) or 7.1(a)(ii), to institute a suit directly against the Company Corporation for enforcement of payment to such holder of principal of and (subject to Sections 2.4 and 4.1) interest (including any Additional Interest) on the Debentures having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement) of such Preferred Securities held by such holder. The Company Corporation may not amend this Indenture to remove this right to institute a suit directly against the Company Corporation without the prior consent of the holders of all the Preferred Securities.
Appears in 3 contracts
Samples: Crescent Capital Trust I, Apab Capital Trust I, Metropolitan Financial Corp /Oh/
DIRECT ACTION BY HOLDERS OF PREFERRED SECURITIES. Any The provisions of Section 2.10 of this Indenture notwithstanding, any registered holder of the Preferred Securities issued by the Trust shall have the right, upon the occurrence of an Event of Default described in Section 7.1(a)(i) or 7.1(a)(ii), to institute a suit directly against the Company Corporation for enforcement of payment to such holder of principal of and (subject to Sections 2.4 and 4.1) interest (including any Additional Interest) on the Debentures having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement) of such Preferred Securities held by such holder. The Company Corporation may not amend this Indenture to remove this right to institute a suit directly against the Company Corporation without the prior written consent of the holders of all the Preferred Securities.
Appears in 1 contract
DIRECT ACTION BY HOLDERS OF PREFERRED SECURITIES. Any registered holder of the Preferred Securities issued by the Trust shall have the right, upon the occurrence of an Event of Default described in Section 7.1(a)(iSECTION 7.1(A)(I) or 7.1(a)(ii7.1(A)(II), to institute a suit directly against the Company for enforcement of payment to such holder of principal of and (subject to Sections 2.4 SECTIONS 2.3 and 4.1) interest (including any Additional Interest) on the Debentures having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement) of such Preferred Securities held by such holder. The Company may not amend this Indenture to remove this right to institute a suit directly against the Company without the prior consent of the holders of all the Preferred Securities.
Appears in 1 contract
Samples: Southside Capital Trust I