Common use of Subordination of Common Securities Clause in Contracts

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 140 contracts

Samples: Trust Agreement (Paragon Commercial CORP), Trust Agreement (Entegra Financial Corp.), Trust Agreement (Wilshire Bancorp Inc)

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Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, made pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an Indenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 47 contracts

Samples: Trust Agreement (Gulf Power Capital Trust Iv), Trust Agreement (Georgia Power Capital Trust XI), Trust Agreement (Georgia Power Capital Trust X)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(f), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 35 contracts

Samples: Trust Agreement (Metro Capital Trust V), Trust Agreement (Lincoln National Corp), Trust Agreement (Lincoln National Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 402(f), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 33 contracts

Samples: Trust Agreement (Ifc Capital Trust Ii), Trust Agreement (United Community Bancshares Inc), Trust Agreement (Century Bancorp Capital Trust)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(f), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable.

Appears in 24 contracts

Samples: Trust Agreement (Susquehanna Bancshares Inc), Trust Agreement (Susquehanna Capital IV), Trust Agreement (Susquehanna Bancshares Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default specified in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable.

Appears in 19 contracts

Samples: Trust Agreement (Zions Capital Trust C), Trust Agreement (Zions Capital Trust B), Trust Agreement (Popular Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(f), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 19 contracts

Samples: Trust Agreement (Schwab Charles Corp), Trust Agreement (Mbna Corp), Trust Agreement (Pennsylvania Power & Light Co /Pa)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default specified in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods Periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable.

Appears in 14 contracts

Samples: Trust Agreement (Bb&t Corp), Trust Agreement (Bb&t Corp), Trust Agreement (Bb&t Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 402(f), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; , provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 13 contracts

Samples: Trust Agreement (American Community Bancshares Inc), Trust Agreement (Apab Capital Trust I), Trust Agreement (Metropolitan Financial Corp /Oh/)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Preferred Securities to accelerate the maturity thereof.

Appears in 13 contracts

Samples: Trust Agreement (Sun Capital Trust), Trust Agreement (Jeffbanks Inc), Trust Agreement (Jbi Capital Trust I)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, made pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Redemption Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 12 contracts

Samples: Trust Agreement (Newell Financial Trust I), Trust Agreement (Big Flower Holdings Inc), Trust Agreement (Ilm Ii Senior Living Inc /Va)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata (based on Liquidation Amounts) among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Capital Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Trust Event of Default resulting from a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable.

Appears in 12 contracts

Samples: Trust Agreement (Comerica Capital Trust Ii), Trust Agreement (Keycorp /New/), Trust Agreement (KeyCorp Capital VIII)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, as set forth in Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Sections 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made made, unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution Distribution, the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Capital Securities to accelerate the maturity thereof.

Appears in 9 contracts

Samples: Trust Agreement (Alabama National Bancorporation), Trust Agreement (Crescent Banking Co), Trust Agreement (CCF Holding Co)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 402(f), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable.

Appears in 9 contracts

Samples: Trust Agreement (Community First Bankshares Inc), Trust Agreement (Community First Bankshares Inc), Trust Agreement (Community First Bankshares Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately and legally available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 8 contracts

Samples: Trust Agreement (Capstead Mortgage Corp), Trust Agreement (Capital Trust Inc), Trust Agreement (Anthracite Capital Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, made pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 8 contracts

Samples: Trust Agreement (Chubb Capital Trust Iii), Trust Agreement (Chubb Capital Trust Iii), Trust Agreement (AmerUs Capital V)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Note Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 7 contracts

Samples: Declaration of Trust (BEE Financing Trust III), Declaration of Trust (Strategic Hotels & Resorts, Inc), Trust Agreement (Webster Capital Trust Iv)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods Periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 7 contracts

Samples: Trust Agreement (Anworth Mortgage Asset Corp), Trust Agreement (Impac Mortgage Holdings Inc), Trust Agreement (Novastar Financial Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Capital Securities to accelerate the maturity thereof.

Appears in 5 contracts

Samples: Trust Agreement (First Empire State Corp), Trust Agreement (First Empire Capital Trust I), Trust Agreement (Triangle Capital Trust)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to the allocation provisions of Section 4.2(e), pro rata among the Common Securities and the Trust Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default specified in Section 5.1(a) or 5.1(b) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Trust Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Trust Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Trust Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Trust Preferred Securities then due and payable.

Appears in 5 contracts

Samples: Trust Agreement (South Carolina Electric & Gas Co), Trust Agreement (Sce&g Trust I), Trust Agreement (Scana Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, provided that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 5 contracts

Samples: Trust Agreement (Desert Capital Reit Inc), Trust Agreement (Desert Capital Reit Inc), Trust Agreement (Beazer Homes Usa Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(f), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable. respect to the Capital Securities has been so cured, waived or otherwise eliminated, the Property Trustee shall act solely on behalf of the Holders of the Capital Securities and not the Holder of the Common Securities, and only the Holders of the Capital Securities will have the right to direct the Property Trustee to act on their behalf.

Appears in 4 contracts

Samples: Trust Agreement (Chase Capital Iii), Trust Agreement (Chase Capital Ix), Trust Agreement (Chase Capital Vi)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata PRO RATA among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; providedPROVIDED, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 4 contracts

Samples: Trust Agreement (Bankatlantic Bancorp Inc), Trust Agreement (Bankatlantic Bancorp Inc), Trust Agreement (Uici)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1(a) or 5.1(b) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred of Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Trust Securities to accelerate the maturity thereof.

Appears in 4 contracts

Samples: Trust Agreement (Morgan Stanley), Agreement (Morgan Stanley), Trust Agreement (MSDW Capital Trust V)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest AmountsDistributions) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default specified in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest AmountsDistributions) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest AmountsDistributions) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest AmountsDistributions) on, or the Redemption Price of or the Liquidation Distribution in respect of, of the Preferred Capital Securities then due and payable.

Appears in 4 contracts

Samples: Trust Agreement (Southern States Capital Trust Ii), Trust Agreement (Colonial Capital Ii), Trust Agreement (Colonial Bancgroup Inc)

Subordination of Common Securities. (a) Payment The Preferred Securities rank pari passu with the Common Securities, and payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 4 contracts

Samples: Trust Agreement (Deerfield Triarc Capital Corp), Trust Agreement (Deerfield Triarc Capital Corp), Trust Agreement (Deerfield Triarc Capital Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 4 contracts

Samples: Trust Agreement (Bank of New York Co Inc), Trust Indenture Trust Agreement (Sterling Bancorp Trust I), Trust Agreement (Bny Capital Vii)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default specified in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 3 contracts

Samples: Trust Agreement (Bny Capital V), Trust Agreement (NTC Capital Iii), Trust Agreement (Bank of New York Co Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Trust Event of Default resulting from a Debenture Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of (i) all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or (ii) in the case of payment redemption of the Redemption Price Trust Securities, the full amount of such the Redemption Price on all Outstanding Preferred Capital Securities then called for subject to redemption, or (iii) in the case of payment any dissolution, liquidation or other termination of the Liquidation Distribution Issuer Trust, the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable.

Appears in 3 contracts

Samples: Trust Agreement (Popular Inc), Trust Agreement (Popular North America Capital Trust Iii), Trust Agreement (Popular North America Capital Trust I)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, pro rata subject to Section 4.2(e), PRO RATA among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; providedPROVIDED, HOWEVER, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 3 contracts

Samples: Trust Indenture Trust Agreement (Seacoast Financial Services Corp), Trust Indenture Trust Agreement (Seacoast Financial Services Corp), Trust Indenture Trust Agreement (Seacoast Financial Services Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1 (a) or 5.1 (b) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred of Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Trust Securities to accelerate the maturity thereof.

Appears in 3 contracts

Samples: Trust Agreement (Morgan Stanley), Agreement (Pxre Capital Trust Iv), Morgan Stanley Dean Witter & Co

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of a Debenture Payment Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods Periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable.

Appears in 3 contracts

Samples: Trust Agreement (Bb&t Corp), Trust Agreement (Bb&t Corp), Trust Agreement (Bb&t Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution Distribution, the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Capital Securities to accelerate the maturity thereof.

Appears in 3 contracts

Samples: Trust Agreement (Southern Bancshares Nc Inc), Trust Agreement (MBNK Capital Trust I), Trust Agreement (City Holding Capital Trust Ii)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(f), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date any Event of Default resulting from an Event of Default with respect to any Debt Security shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 3 contracts

Samples: Trust Agreement (Covanta Capital Trust Iii), Trust Agreement (Idacorp Trust Iii), Trust Agreement (Idacorp Trust Iii)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(f), pro rata among the Common Securities then Outstanding and the Preferred Capital Securities then Outstanding based on the Liquidation Amount Amounts of the respective Trust SecuritiesCommon Securities then Outstanding and the Capital Securities then Outstanding; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an (i) a Debenture Event of Default shall have occurred and be continuingcontinuing as a result of any failure by the Depositor to pay any amounts in respect of the Debentures when due, or (ii) the Trust is dissolved or liquidated and (A) funds available to the Trust are insufficient to pay in full the Liquidation Distribution payable on all Outstanding Trust Securities or, (B) a Like Amount of Debentures are distributed to Securityholders upon such dissolution or liquidation in accordance with Article IX herein and the Holders of Capital Securities do not receive the full amount of Debentures to which they are entitled, then no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or applicable Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless (1) payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or and in the case of payment of the applicable Redemption Price Price, the full amount payment in cash of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, or (2) the Trust is dissolved or liquidated and the aggregate Liquidation Amount on all funds immediately available to the Property Trustee Capital Securities then Outstanding, plus accumulated and unpaid Distributions thereon shall first be applied to the payment in full have been made or provided for in cash or, in the event a Like Amount of all Distributions (including any Additional Interest Amounts) on, Debentures are distributed to Holders of Capital Securities upon such liquidation or the Redemption Price of or the Liquidation Distribution dissolution in respect ofaccordance with Article IX herein, the Preferred distribution to each Holder of Capital Securities then due and payableof such Like Amount of Debentures to which such holder is entitled shall have been made or duly provided for.

Appears in 3 contracts

Samples: Trust Agreement (Downey Financial Capital Trust Iii), Trust Agreement (Downey Financial Capital Trust Iii), Trust Agreement (Downey Financial Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1(a) or 5.1(b) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the of Preferred Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Preferred Securities to accelerate the maturity thereof.

Appears in 3 contracts

Samples: Trust Agreement (First Star Capital Trust), Trust Agreement (First Star Capital Trust), Trust Agreement (Sun Capital Trust Ii)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Increased Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Trust Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Increased Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Increased Interest Amounts) on all Outstanding Trust Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Trust Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Trust Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Increased Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Trust Preferred Securities then due and payable.

Appears in 3 contracts

Samples: Trust Agreement (First Chester County Corp), Trust Agreement (Temecula Valley Bancorp Inc), Trust Agreement (Temecula Valley Bancorp Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Capital Securities to accelerate the maturity thereof.

Appears in 3 contracts

Samples: Trust Agreement (FCB/Sc Capital Trust I), Trust Agreement (FCB Nc Capital Trust I), Trust Agreement (Provident Trust I)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, as set forth in Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution Distribution, the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Capital Securities to accelerate the maturity thereof.

Appears in 3 contracts

Samples: Trust Agreement (Fidbank Capital Trust I), Trust Agreement (Fidelity Bancshares Nc Inc /De/), Trust Agreement (Fidbank Capital Trust I)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, made pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, Security and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, Securities shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 3 contracts

Samples: Trust Agreement (Redwood Trust Inc), Trust Agreement (Vestin Realty Mortgage II, Inc), Amended and Restated Trust Agreement (Lexington Realty Trust)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.02(f), pro rata among the Common Capital Securities and the Preferred Common Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Capital Securities for all Distribution distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities Capital Securities, then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable.

Appears in 2 contracts

Samples: Trust Agreement (Vib Corp), Trust Agreement (Metlife Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.02(f), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default shall have occurred and be continuingcontinuing and of which a Responsible Officer of the Property Trustee has actual knowledge, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Preferred Securities to accelerate the maturity thereof.

Appears in 2 contracts

Samples: Trust Agreement (Bank of the Ozarks Inc), Trust Agreement (Ozark Capital Trust)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, as set forth in Section 4.2(e), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution Distribution, the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Preferred Securities to accelerate the maturity thereof.

Appears in 2 contracts

Samples: Trust Agreement (First Citizens Bancorporation Inc), Trust Agreement (First Citizens Bancshares Inc /De/)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have have, occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 2 contracts

Samples: Trust Agreement (Geovera Insurance Holdings, Ltd.), Trust Agreement (Geovera Insurance Holdings, Ltd.)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the of Preferred Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Preferred Securities to accelerate the maturity thereof.

Appears in 2 contracts

Samples: Trust Agreement (Allegiant Capital Trust Ii), Trust Agreement (Allegiant Bancorp Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default specified in Section 5.01(a) or a Debenture Default specified in Section 5.06(a) or 5.06(b) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods Periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred of Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Trust Securities to accelerate the maturity thereof.

Appears in 2 contracts

Samples: Trust Agreement (Morgan Stanley), Trust Agreement (Morgan Stanley)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price price, the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Preferred Securities to accelerate the maturity thereof.

Appears in 2 contracts

Samples: Trust Agreement (Broad National Bancorporation), Trust Agreement (BNB Capital Trust)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, made pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Subordinated Note Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 2 contracts

Samples: Trust Agreement (Ingersoll Rand Co), Trust Agreement (Ingersoll Rand Co)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, made pro rata among the Common Securities and the Preferred Securities based on the aggregate Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) payable as a preference on all Outstanding Preferred Securities for all Distribution distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 2 contracts

Samples: Trust Agreement (Southwestern Public Service Co), Trust Agreement (Western Resources Capital Ii)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default specified in Section 5.1(1) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 2 contracts

Samples: Expenses and Liabilities (Privatebancorp, Inc), Expenses and Liabilities (Privatebancorp, Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Trust Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, provided that if on any Distribution Date, Redemption Date or Liquidation Date an ICON Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Trust Capital Securities for all Distribution periods Periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Trust Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Trust Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Trust Capital Securities then due and payable.

Appears in 2 contracts

Samples: Trust Agreement (National City Corp), Trust Agreement (National City Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 2 contracts

Samples: Trust Agreement (Bnccorp Inc), Trust Agreement (Vib Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred of Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Trust Securities to accelerate the maturity thereof.

Appears in 2 contracts

Samples: Trust Agreement (Equitable Resources Capital Trust I), And (Equitable Resources Inc /Pa/)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable. (b) In the case of the occurrence of any Event of Default, the Holders of the Common Securities shall have no right to act with respect to any such Event of Default under this Trust Agreement until all such Events of Default with respect to the Preferred Securities have been cured, waived or otherwise eliminated. Until all such Events of Default under this Trust Agreement with respect to the Preferred Securities have been so cured, waived or otherwise eliminated, the Property Trustee shall act solely on behalf of the Holders of the Preferred Securities and not on behalf of the Holders of the Common Securities, and only the Holders of all the Preferred Securities will have the right to direct the Property Trustee to act on their behalf. SECTION 4.4.

Appears in 2 contracts

Samples: Trust Agreement (Simmons First National Corp), Trust Agreement (Simmons First National Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Indenture Event of Default specified in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 2 contracts

Samples: Trust Agreement (Everest Re Group LTD), Trust Agreement (Everest Re Capital Trust Iii)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds legally and immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 2 contracts

Samples: Trust Agreement, Trust Agreement (New Century Financial Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Note Event of Default specified in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 2 contracts

Samples: Trust Agreement (Everest Re Capital Trust), Trust Agreement (Everest Re Group LTD)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default specified in Section 5.01(a) or a Debenture Default specified in Section 5.06(a) or 5.06(b) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred of Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Trust Securities to accelerate the maturity thereof.

Appears in 2 contracts

Samples: Trust Agreement, Trust Agreement (Morgan Stanley)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1(a) or 5.1(b) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation liquidation, or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the of Preferred Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Preferred Securities to accelerate the maturity thereof.

Appears in 2 contracts

Samples: Trust Agreement (First United Corp/Md/), Trust Agreement (Gbci Capital Trust Ii)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods Periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional 5093318 04310929 Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (Bimini Capital Management, Inc.)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, as set forth in Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Sections 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made made, unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution quarterly periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution Distribution, the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Capital Securities to accelerate the maturity thereof.

Appears in 1 contract

Samples: Trust Agreement (Mountain National Bancshares Inc)

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Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, made pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable. (b) In the case of the occurrence of any Debenture Event of Default, the Holder of Common Securities will be deemed to have waived any right to act with respect to any such Event of Default under this Trust Agreement until the effect of all such Events of Default with respect to the Preferred Securities have been cured, waived or otherwise eliminated. Until any such Event of Default under this Trust Agreement with respect to the Preferred Securities have been so cured, waived or otherwise eliminated, the Property Trustee shall act solely on behalf of the Holders of the Preferred Securities and not the Holder of the Common Securities, and only the Holders of the Preferred Securities will have the right to direct the Property Trustee to act on their behalf. Section 4.04.

Appears in 1 contract

Samples: Trust Agreement (Pacific Gas & Electric Co)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject TRUST AGREEMENT to Section 4.2(e), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default specified in Section 2.9(a) of the Supplemental Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (Wachovia Capital Trust XIII)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, made pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an Indenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.. (b) In the case of the occurrence of any Indenture Event of Default, the Holder of Common Securities will be deemed to have waived any such Event of Default under this Trust Agreement until the effect of all such Events of Default with respect to the Preferred Securities have been cured, waived or otherwise eliminated. Until any such Events of Default under this Trust Agreement with respect to the Preferred Securities have been so cured, waived or otherwise eliminated, the Property Trustee shall act solely on behalf of the Holders of the Preferred Securities and not the Holder of the 18

Appears in 1 contract

Samples: Trust Agreement (Duke Energy Capital Trust Iii)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest AmountsDistributions, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be mademade subject to Section 4.2(f), pro rata among to the holders of the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest AmountsDistributions, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any of the Common SecuritySecurities, and no other payment on account of the redemption, liquidation or other acquisition of such Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest AmountsDistributions, if applicable) on all Outstanding outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the applicable Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest AmountsDistributions, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable. (b) In the case of the occurrence of any Event of Default resulting from any Debenture Event of Default, the Holder of Common Securities will be deemed to have waived any right to act with respect to any such Event of Default under this Declaration of Trust until the effect of all such Events of Default with respect to the Preferred Securities have been cured, waived or otherwise eliminated. Until all such Events of Default under this Declaration of Trust with respect to the Preferred Securities have been so cured, waived or otherwise eliminated, the Property Trustee shall act solely on behalf of the Holders of the Preferred Securities and not on behalf of the Holder of the Common Securities, and only the Holders of the Preferred Securities will have the right to direct the Property Trustee to act on their behalf. SECTION 4.4.

Appears in 1 contract

Samples: Republic New York Capital Iv

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of plus accumulated and the Liquidation Distribution in respect unpaid distributions of, the Trust Securities, as applicable, shall be made, made pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price plus accumulated and unpaid Distributions the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution plus accumulated and unpaid Distributions on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect plus accumulated and unpaid Distributions of, the Preferred Securities then due and payable. (b) In the case of the occurrence of any Event of Default resulting from a Debenture Event of Default, the Holder of Common Securities will be deemed to have waived any such Event of Default under this Trust Agreement until the effect of all such Events of Default with respect to the Preferred Securities have been cured, waived or otherwise eliminated. Until any such Events of Default under this Trust Agreement with respect to the Preferred Securities have been so cured, waived or otherwise eliminated, the Property Trustee shall act solely on behalf of the Holders of the Preferred Securities and not the Holder of the Common Securities, and only the Holders of the Preferred Securities will have the right to direct the Property Trustee to act on their behalf. Section 4.04.

Appears in 1 contract

Samples: Trust Agreement (Tu Electric Capital Iii)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest AmountsDistributions) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, made pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default specified in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest AmountsDistributions) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest AmountsDistributions) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest AmountsDistributions) on, or the Redemption Price of or the Liquidation Distribution in respect of, of the Preferred Capital Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (First Hawaiian Capital I)

Subordination of Common Securities. (a) Payment Except as provided herein, the Preferred Securities rank pari passu with the Common Securities, and payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (Windrose Medical Properties Trust)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred of Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Capital Securities to accelerate the maturity thereof.

Appears in 1 contract

Samples: Trust Agreement (BSB Capital Trust I)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default resulting from a Debt Security Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (Pd Capital Trust Ii)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Trust Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an ICON Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Trust Capital Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Trust Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Trust Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Trust Capital Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (National City Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Trust Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, provided that if on any Distribution Date, Redemption Date or Liquidation Date an a Junior Subordinated Debt Securities Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Trust Capital Securities for all Distribution periods Periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Trust Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Trust Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Trust Capital Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (National City Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating terminating, on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (Tower Group, Inc.)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default specified in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, of the Preferred Capital Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (HSB Group Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods Periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (Bb&t Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(f), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.. (b) In the case of the occurrence of any Event of Default resulting from any Debenture Event of Default, the Holder of Common Securities will be deemed to have waived any right to act with respect to any such Event of Default under this Trust Agreement until the effect of all such Events of Default with respect to the Preferred Securities have been cured, waived or otherwise eliminated. Until any such Event of Default under this Trust Agreement with respect to the Preferred Securities has been so cured, waived or otherwise eliminated, the Property Trustee shall act solely on behalf of the Holders of the Preferred Securities and not the Holder of the Common Securities, and only the Holders of the Preferred Securities will have the right to direct the Property Trustee to act on their behalf. Section 4.4

Appears in 1 contract

Samples: Trust Agreement (Lincoln National Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.. 19

Appears in 1 contract

Samples: Trust Agreement (Simmons First National Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest AmountsAmounts and/or Registration Default Distributions, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default specified in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest AmountsAmounts and/or Registration Default Distributions, if applicable) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest AmountsAmounts and/or Registration Default Distributions, if applicable) on all Outstanding Preferred Capital Securities for all Distribution periods Periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest AmountsAmounts and/or Registration Default Distributions, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (Cullen Frost Capital Trust Ii)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1(a) or 5.1(b) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Capital Securities to accelerate the maturity thereof.

Appears in 1 contract

Samples: Trust Agreement (PNC Capital Trust F)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that however, that, if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Indenture Event of Default specified in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or or, in the case of payment of the Liquidation Distribution Distribution, the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (Everest Reinsurance Holdings Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest AmountsAmounts and/or Registration Default Distributions, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default specified in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest AmountsAmounts and/or Registration Default Distributions, if applicable) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest AmountsAmounts and/or Registration Default Distributions, if applicable) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest AmountsAmounts and/or Registration Default Distributions, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (Cullen Frost Capital Trust I)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.01(a) or a Debenture Default in Section 5.06(a) or 5.06(b) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred of Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Trust Securities to accelerate the maturity thereof.

Appears in 1 contract

Samples: Trust Agreement (Morgan Stanley Capital Trust VIII)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation liquidation, or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the of Preferred Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Preferred Securities to accelerate the maturity thereof.

Appears in 1 contract

Samples: Trust Agreement (Allegiant Capital Trust I)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, made pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Trust Securities to accelerate the maturity thereof.

Appears in 1 contract

Samples: Trust Agreement (Cleveland Electric Financing Trust I)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount in cash of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (CSC Capital Iii)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1(a) or 5.1(b) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation liquidation, or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the of Preferred Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Preferred Securities to accelerate the maturity thereof.

Appears in 1 contract

Samples: Trust Agreement (American Bancshares Inc \Fl\)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest AmountsDistributions) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, pro rata made PRO RATA among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default specified in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest AmountsDistributions) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest AmountsDistributions) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest AmountsDistributions) on, or the Redemption Price of or the Liquidation Distribution in respect of, of the Preferred Capital Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (DPL Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1(a) or 5.1(b) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred of Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Trust Securities to accelerate the maturity thereof.

Appears in 1 contract

Samples: Trust Agreement (Dillards Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, made pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, Security and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, Securities shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately and legally available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (Crystal River Capital, Inc.)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default specified in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods Periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, of the Preferred Capital Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (State Street Capital Trust V)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee [TPW: NYLEGAL:622053.6] 20889-00007 02/26/2007 01:29 PM shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (Bluegreen Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of and the Liquidation Distribution in respect of, the each series of Trust Securities, as applicable, shall be made, pro rata among the corresponding series of Common Securities and the Preferred Securities based on the Liquidation Amount of the respective corresponding Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of or Liquidation Distribution in respect of, any Common SecuritySecurity of that series, and no other payment on account of the redemption, liquidation or other acquisition of such Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities in that series for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities in that series then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred SecuritiesSecurities in that series, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the such Preferred Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (Mercantile Bank Corp)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, on the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, as set forth in Section 4.2(e), pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Sections 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made made, unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution Distribution, the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Capital Securities to accelerate the maturity thereof.

Appears in 1 contract

Samples: Trust Agreement (CCF Holding Co)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, made pro rata among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Redemption Liquidation Date or Liquidation Redemption Date an Event of Default resulting from a Debenture Event of Default specified in Section 501(1) or 501(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Capital Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Capital Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Capital Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of of, or the Liquidation Distribution in respect of, the Preferred of Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Capital Securities to accelerate the maturity thereof.

Appears in 1 contract

Samples: Agreement (Aig Capital Trust I)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, that if on any Distribution Date, Redemption Date or Liquidation Date an Event of Default resulting from a Note Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (MRM Capital Trust Iii)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, the Redemption Price of of, and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1(a) or 5.1(b) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Preferred Securities to accelerate the maturity thereof.

Appears in 1 contract

Samples: Trust Agreement (Mariner Capital Trust)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective such Trust Securities; provided, however, that if on any Distribution Date, Date or Redemption Date or Liquidation Date an any Event of Default resulting from a Debenture Event of Default in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, and the Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or or, in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Preferred Securities to accelerate the maturity of the Preferred Securities.

Appears in 1 contract

Samples: Trust Agreement (Success Bancshares Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the Redemption Price of and or Optional Redemption Price, as the Liquidation Distribution in respect case may be, of, the Trust Securities, as applicable, shall be made, made pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Redemption Date an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or Liquidation Distribution in respect Optional Redemption Price, as the case may be, of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price or Optional Redemption Price, as the case may be, the full amount of such Redemption Price or Optional Redemption Price, as the case may be, on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or Optional Redemption Price, as the Liquidation Distribution in respect case may be, of, the Preferred Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (Pioneer Standard Electronics Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts, if applicable) on, and the applicable Redemption Price of and the Liquidation Distribution in respect of, the Trust Securities, as applicable, shall be made, made pro rata among the Common Securities and the Preferred Securities based on the Liquidation Preference or Liquidation Amount of the respective such Trust Securities; provided, however that if on any Distribution Date, Redemption Date or Liquidation Redemption Date an Event of Default shall have occurred and be continuing, (i) no payment of any Distribution (including any Additional Interest Amounts, if applicable) on, or the Redemption Price of or Liquidation Distribution in respect of, any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts, if applicable) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior theretobefore such Distribution Date or Redemption Date, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and (ii) all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any or the applicable Additional Interest Amounts, if applicable) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (Lucent Technologies Inc)

Subordination of Common Securities. (a) Payment of Distributions (including any Additional Interest Amounts) on, the Redemption Price of of, and the Liquidation Distribution in respect of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata among the Common Securities and the Preferred Securities based on the Liquidation Amount of the respective Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Liquidation Date an any Event of Default resulting from a Debt Security Event of Default specified in Section 5.1(1) or 5.1(2) of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional Interest Amounts) on, Redemption Price of of, or Liquidation Distribution in respect of, of any Common Security, and no other payment on account of the redemption, liquidation or other acquisition of Common Securities, shall be made unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Interest Amounts) on all Outstanding Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Preferred Securities then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding Preferred Securities, shall have been made or provided for, and all funds immediately available to the Property Trustee shall first be applied to the payment in full in cash of all Distributions (including any Additional Interest Amounts) on, or the Redemption Price of or the Liquidation Distribution in respect of, the Preferred Securities then due and payable.

Appears in 1 contract

Samples: Trust Agreement (Northern Trust Corp)

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