Common use of Redemption and Distribution Clause in Contracts

Redemption and Distribution. (a) The Debentures will mature on December 18, 2031. The Debentures may be redeemed by the Debenture Issuer, in whole or in part at any time and from time to time on or after December 18, 2006, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 4 contracts

Samples: Center Bancorp Inc, United National Bancorp, Eurobancshares Inc

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Redemption and Distribution. (a) The Debentures will mature on December 18September 26, 20312032. The Debentures may be redeemed by the Debenture Issuer, in whole or in part at any time and from time to time on or after December 18September 26, 20062007, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 3 contracts

Samples: Coast Bancorp/Ca, Bankatlantic Bancorp Inc, Uwharrie Capital Corp

Redemption and Distribution. (a) The Debentures will mature on December 18July 31, 2031. The Debentures may be redeemed by the Debenture Issuer, in whole or in part at any time and from time to time on or after December 18July 31, 2006, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 2 contracts

Samples: State National Bancshares, Inc., Prosperity Bancshares Inc

Redemption and Distribution. (a) The Debentures will mature on December 18June 15, 20312036. The Debentures may be redeemed by the Debenture Issuer, in whole or in part part, at any time and from time to time Distribution Payment Date on or after December 18, 2006the Distribution Payment Date in June 2011, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 2 contracts

Samples: Subscription Agreement (Four Oaks Fincorp Inc), First Banks, Inc

Redemption and Distribution. (a) The Debentures will mature on December 18June 26, 20312032. The Debentures may be redeemed by the Debenture Issuer, in whole or in part at any time and from time to time on or after December 18June 26, 20062007, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 2 contracts

Samples: First Community Bancorp /Ca/, Ecb Bancorp Inc

Redemption and Distribution. (a) The Debentures will mature on December 1815, 20312037. The Debentures may be redeemed by the Debenture Issuer, in whole or in part part, at any time and from time to time Distribution Payment Date on or after the Distribution Payment Date in December 18, 20062012, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 2 contracts

Samples: First Banks, Inc, First Banks, Inc

Redemption and Distribution. (a) The Debentures will mature on December 1815, 20312036. The Debentures may be redeemed by the Debenture Issuer, in whole or in part part, at any time and from time to time Distribution Payment Date on or after the Distribution Payment Date in December 18, 20062011, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 1 contract

Samples: First Banks, Inc

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Redemption and Distribution. (a) The Debentures will mature on December 18, 2031. The Debentures may be redeemed by the Debenture Issuer, in whole or in part at any time and from time to time on or after December 18, 2006, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.. "3-Month LIBOR" means the London interbank offered interest rate for three-month, U.S. dollar deposits determined by the Debenture Trustee in the following order of priority:

Appears in 1 contract

Samples: First Community Bancorp /Ca/

Redemption and Distribution. (a) The Debentures will mature on December 18March 26, 20312033. The Debentures may be redeemed by the Debenture Issuer, in whole or in part part, at any time and from time to time Distribution Payment Date on or after December 18March 26, 20062008, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 1 contract

Samples: Community Capital Bancshares Inc

Redemption and Distribution. (a) The Debentures will mature on December 1826, 20312032. The Debentures may be redeemed by the Debenture Issuer, in whole or in part part, at any time and from time to time Distribution Payment Date on or after December 1826, 20062007, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 1 contract

Samples: Eurobancshares Inc

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