Perpetual Securities Sample Clauses
The Perpetual Securities clause defines financial instruments that do not have a fixed maturity date, meaning they remain outstanding indefinitely unless redeemed by the issuer. In practice, these securities often pay ongoing interest or dividends to holders and may include provisions allowing the issuer to call or redeem them after a certain period. This clause is primarily used to provide issuers with long-term capital while offering investors a steady income stream, and it addresses the need for flexible financing without the obligation of repayment on a set date.
Perpetual Securities. The Notes are perpetual securities in respect of which there is no fixed maturity date or fixed Redemption Date.
Perpetual Securities. 14.3.1 In the case of Perpetual Securities, as soon as practicable after the relevant time on each Distribution Determination Date or such time on such date as the Conditions of the Perpetual Securities may require to be calculated any rate or amount, any quotation to be obtained or any determination or calculation to be made by the Calculation Agent, the Calculation Agent shall determine such rate and calculate the Distribution Amounts in respect of each denomination of the Securities for the relevant Distribution Period or Distribution Payment Date, calculate the relevant Securities Redemption Amount, obtain such quotation and/or make such determination or calculation, as the case may be, and cause the Distribution Rate and the Distribution Amounts for each Distribution Period or Distribution Payment Date and, if required to be calculated, any Securities Redemption Amount to be notified to any other Calculation Agent appointed in respect of the Securities that is to make a further calculation upon receipt of such information, the Fiscal Agent, the Issuer, each of the Paying Agents, the relevant Securityholders and, if the relevant Securities are to be listed on a stock exchange and the rules of such exchange so require, subsequently notified by the Issuer to such exchange as soon as reasonably practicable after their determination but in no event later than (i) the commencement of the relevant Distribution Period, if determined prior to such time, in the case of notification to such exchange of a Distribution Rate and Distribution Amount, or (ii) in all other cases, the fourth Business Day after such determination.
14.3.2 The Calculation Agent shall, in accordance with this Agreement and the Conditions of the Perpetual Securities, determine the applicable Reset Distribution Rate payable in respect of each Fixed Rate Perpetual Security, and cause written notice thereof to be given to the Fiscal Agent, the Issuer, each of the Paying Agents and the Registrar as soon as reasonably practicable after its determination but in no event later than the fourth Business Day thereafter (and of any adjustment thereto in accordance with the Conditions of the Perpetual Securities forthwith upon its being made).
14.3.3 The Calculation Agent shall promptly notify the Fiscal Agent, the Issuer and each of the Paying Agents if it does not for any reason at the material time determine the Reset Distribution Rate.
14.3.4 If the Calculation Agent does not at any material time d...
Perpetual Securities. The 2017 Fixed Rate Resetting Securities will be perpetual Securities in respect of which there will be no stated maturity date or other fixed redemption date.
Perpetual Securities. No Fixed Maturity : The Perpetual Securities are perpetual securities in respect of which there is no fixed redemption date and the Relevant Issuer shall only have the right to redeem or purchase them in accordance with the terms and conditions of the Perpetual Securities. Distribution Basis : Perpetual Securities may confer a right to distribution at fixed or floating rates. Fixed Rate Perpetual Securities : Fixed Rate Perpetual Securities will confer a right to distribution at a fixed rate which will be payable in arrear on specified dates. If so provided on the face of the Fixed Rate Perpetual Securities, the distribution rate may be subject to reset on such date and bases as may be set out in the relevant Pricing Supplement. Floating Rate Perpetual Securities : Floating Rate Perpetual Securities which are denominated in Singapore dollars will confer a right to distribution at a rate to be determined separately for each Series by reference to S$ SIBOR or S$ Swap Rate (or in any other case such other benchmark as may be agreed between the Relevant Issuer and the Relevant Dealer(s)), as adjusted for any applicable margin. Distribution periods in relation to the Floating Rate Perpetual Securities will be agreed between the Relevant Issuer and the Relevant Dealer(s) prior to their issue. Floating Rate Perpetual Securities which are denominated in other currencies will confer a right to distribution at a rate to be determined separately for each Series by reference to such other benchmark as may be agreed between the Relevant Issuer and the Relevant Dealer(s).
Perpetual Securities. In accordance with art. 8, III of Resolution 3,444, the Securities are perpetual securities and have no fixed maturity date.