Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts) on, and the Redemption Price 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 Capital Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts) on, or Redemption Price 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 Amounts) on all Outstanding 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 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 Amounts) on, or the Redemption Price of, Capital Securities then due and payable.
Appears in 8 contracts
Samples: Trust Agreement (Keycorp Institutional Capital A), Trust Agreement (Keycorp Capital V), Trust Agreement (Keycorp Institutional Capital B)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts) on, or Redemption Price 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 Amounts) on all Outstanding Capital 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 Capital 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 Amounts) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 7 contracts
Samples: Trust Agreement (Actuant CORP Capital Trust II), Trust Agreement (Empire District Electric Trust Ii), Trust Agreement (Wisconsin Energy Corp)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts) on, and the Redemption Price 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 Capital Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts and Other Amounts) on, or Redemption Price 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 Amounts and Other Amounts) on all Outstanding 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 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 Amounts and Other Amounts) on, or the Redemption Price of, Capital Securities then due and payable.
Appears in 7 contracts
Samples: Trust Agreement (Goldman Sachs Capital III), Trust Agreement (Goldman Sachs Capital V), Trust Agreement (Goldman Sachs Capital V)
Subordination of Common Securities. (a) a)......Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture an Indenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 7 contracts
Samples: Trust Agreement (Alabama Power Co), Trust Agreement (Mississippi Power Co), Trust Agreement (Georgia Power Co)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture an Indenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding 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 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 Amounts, if applicable) on, or the Redemption Price of, Capital Securities then due and payable.
Appears in 6 contracts
Samples: Trust Agreement (Mississippi Power Capital Trust Ii), Trust Agreement (Mississippi Power Capital Trust Ii), Trust Agreement (Southern Co Capital Trust Ii)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture an Indenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 6 contracts
Samples: Trust Agreement (Duke Capital Financing Trust Vi), Trust Agreement (Citizens Communications Co), Trust Agreement (Duke Capital Financing Trust Vi)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e402(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Trust Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital SecuritiesTrust Preferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Trust Preferred Securities then due and payable.
Appears in 5 contracts
Samples: Trust Agreement (Front Range Capital Trust I), Trust Agreement (Front Range Capital Trust I), Trust Agreement (Prosperity Capital Trust I)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or the Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital SecuritiesPreferred Securities to be redeemed, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 5 contracts
Samples: Trust Agreement (HPT Capital Trust I), Trust Agreement (SNH Nebraska Inc), Trust Agreement (Senior Housing Properties Trust)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price and/or Liquidation Distribution of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Redemption Liquidation Date 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 Amounts, if applicable) on, or Redemption Price and/or Liquidation Distribution 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 shall have been made or been provided for in full in cash of (i) all accumulated and unpaid Distributions (including any Additional Amounts, if applicable) on all Outstanding Capital 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 Capital SecuritiesPreferred Securities then being redeemed, as applicable, 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 Amounts, if applicable) on, or the Redemption Price and/or Liquidation Distribution of, Capital Preferred Securities then due and payable.
Appears in 5 contracts
Samples: Trust Agreement (Cna Financial Corp), Trust Agreement (Cna Financial Corp), Trust Agreement (Cna Financial Capital Iii)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional 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 as set forth in Section 4.2(e), pro rata (based on Liquidation Amounts) among the Common Securities and the Preferred Capital Securities based on the Liquidation Amount of such Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 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 made, unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional 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 Amounts) on, or the Redemption Price of, or Liquidation Distribution in respect of, Preferred Capital Securities then due and payable. The existence of an Event of Default does not entitle the Holders of Preferred Capital Securities to accelerate the maturity thereof.
Appears in 5 contracts
Samples: Trust Agreement (Centerstate Banks of Florida Inc), Trust Agreement (SBCF Capital Trust IV), Trust Agreement (FFBC Capital Trust I)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional AmountsSums, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e402(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; providedPROVIDED, howeverHOWEVER, that if on any Distribution Date or Redemption Date 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 AmountsSums, if applicable) on, or Redemption Price 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 AmountsSums, if applicable) on all Outstanding Capital 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 Capital SecuritiesPreferred Securities then called for redemption, 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 AmountsSums, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 5 contracts
Samples: Trust Agreement (Southwestern Electric Power Co), Trust Agreement (Southwestern Electric Power Co), Trust Agreement (Public Service Co of Oklahoma)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Trust Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital Trust 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 Capital SecuritiesTrust Preferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Trust Preferred Securities then due and payable.
Appears in 5 contracts
Samples: Trust Agreement (Alabama National Bancorporation), Trust Agreement (San Rafael Bancorp), Trust Agreement (Enterprise Financial Services Corp)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts) on, and the Liquidation, Distribution and Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from applicable date, a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts) on, or Liquidation, Distribution and Redemption Price 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 Amounts) on all Outstanding Capital Preferred Securities for all Distribution distribution periods terminating on or prior thereto, or in the case of payment of the Liquidation, Distribution and Redemption Price Price, the full amount of such Liquidation, Distribution and Redemption Price on applicable to all Outstanding Capital SecuritiesPreferred Securities then outstanding or then being redeemed, as the case may be, 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 Amounts) on, or the Liquidation, Distribution and Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 4 contracts
Samples: Trust Agreement (Pseg Funding Trust Ii), Trust Agreement (Public Service Enterprise Group Inc), Trust Agreement (Pseg Funding Trust Ii)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, of the Trust Trust-Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture Event of Default shall have occurred and be is continuing, no payment of any Distribution distribution (including any Additional Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Capital SecuritiesPreferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 4 contracts
Samples: Trust Agreement (BFC Capital Trust Ii), Trust Agreement (Bancfirst Corp /Ok/), Trust Agreement (Silicon Valley Bancshares)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e402(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding 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 Capital SecuritiesSecurities then called for redemption, shall have been made or provided for, and all funds immediately available to the Property Trustee Paying Agent shall first be applied to the payment in full in cash of all Distributions (including any Additional Amounts, if applicable) on, or the Redemption Price of, Capital Securities then due and payable.
Appears in 4 contracts
Samples: Trust Agreement (Air T Inc), Trust Agreement (Air T Inc), Trust Agreement (Air T Funding)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional AmountsDistributions, if applicable) on, and the Redemption Price of, of the Trust Securities, as applicable, shall be made, made subject to Section 4.2(e4.02(f), pro rata (to the Holders of the Trust Securities based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Debenture Event of Default resulting from a Debenture (or other event that, with notice or the passage of time or both, would become such an Event of Default) or an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional AmountsDistributions, if applicable) on, or Redemption Price 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 AmountsDistributions, if applicable) on all Outstanding outstanding Capital Securities for all Distribution periods terminating Dates occurring 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 outstanding 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 AmountsDistributions, if applicable) on, or the Redemption Price of, Capital Securities then due and payable.
Appears in 4 contracts
Samples: Southern Financial Capital Trust I, Resource Capital Trust I, Highlands Capital Trust I
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital Securities 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 Capital SecuritiesPreferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 4 contracts
Samples: Trust Agreement (Bear Stearns Capital Trust Iv), Trust Agreement (Bear Stearns Capital Trust V), Trust Agreement (Bear Stearns Companies Inc)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 4 contracts
Samples: Assignment and Assumption Agreement (Partnerre LTD), Trust Agreement (Partnerre LTD), Trust Agreement (Partnerre LTD)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional 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 (based on Liquidation Amounts) among the Common Securities and the Capital Securities based on the Liquidation Amount of such Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Redemption Liquidation Date 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 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 Amounts) on all Outstanding 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 Capital Securities then called for redemption, or in the case of payment of the Redemption Price Liquidation Distribution the full amount of such Redemption Price Liquidation Distribution on all Outstanding 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 Amounts) on, or the Redemption Price of, or Liquidation Distribution in respect 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 3 contracts
Samples: Trust Agreement (S&t Bancorp Inc), Trust Agreement (S&t Bancorp Inc), Trust Agreement (M&t Bank Corp)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture an Indenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital Preferred Securities for all Distribution periods terminating ter- minating on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 3 contracts
Samples: Trust Agreement (Atlas Air Capital Iii), Trust Agreement (Atlas Air Capital Iii), Trust Agreement (Atlas Air Capital Iii)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 plus accumulated and unpaid Distributions on all Outstanding Capital 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 Amounts, if applicable) on, or the Redemption Price ofof plus accumulated and unpaid Distributions, Capital Preferred Securities then due and payable.
Appears in 3 contracts
Samples: Agreement (Texas Utilities Electric Co), Trust Agreement (Tu Electric Capital I), Trust Agreement (Tu Electric Capital Ii)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price 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 Capital Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding 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 Capital SecuritiesSecurities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Securities then due and payable.
Appears in 3 contracts
Samples: Trust Agreement (Usf&g Corp), Agreement (Usf&g Corp), Trust Agreement (Providian Financial Corp)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; providedPROVIDED, howeverHOWEVER, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 3 contracts
Samples: Trust Agreement (PCC Capital I), Trust Agreement (Pacific Crest Capital Inc), Trust Agreement (PCC Capital I)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price plus accumulated and unpaid distributions of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 plus accumulated and unpaid Distributions on all Outstanding Capital 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 Amounts, if applicable) on, or the Redemption Price plus accumulated and unpaid Distributions of, Capital Preferred Securities then due and payable.
Appears in 3 contracts
Samples: Trust Agreement (Midamerican Energy Financing Ii), Trust Agreement (Mp&l Capital I), Trust Agreement (Mp&l Capital I)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional 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 as set forth in Section 4.2(e), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Securities based on the Liquidation Amount of such Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Redemption Liquidation Date 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 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 made, unless payment in full in cash of all accumulated and unpaid Distributions (including any Additional Amounts) on all Outstanding 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 Capital Securities then called for redemption, or in the case of payment of the Redemption Price Liquidation Distribution, the full amount of such Redemption Price Liquidation Distribution on all Outstanding 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 Amounts) on, or the Redemption Price of, or Liquidation Distribution in respect 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 3 contracts
Samples: Trust Agreement (Gainsco Inc), Trust Agreement (Gainsco Inc), Trust Agreement (Assuranceamerica Corp)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts) on, and the Redemption Price of, of the Trust Securities, as applicable, shall be made, made subject to Section 4.2(e4.02(f), pro rata (to the holders of the Trust Securities based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Debenture Event of Default resulting from a Debenture (or other event that, with notice or the passage of time or both, would become such an Event of Default) or other Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts) on, or Redemption Price 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 Amounts) on all Outstanding Capital outstanding Preferred Securities for all Distribution periods terminating Dates occurring 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 Capital 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 AmountsDistributions, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 3 contracts
Samples: Trust Agreement (Bancorpsouth Inc), Trust Agreement (Bancorpsouth Inc), Trust Agreement (Bancorpsouth Inc)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture an Indenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 3 contracts
Samples: Trust Agreement (Sce Trust I), Trust Agreement (Eix Trust Iii), Guarantee Agreement (Edison International)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts) on, if applicable)on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Securities; providedPreferred Securities based on the Liquidation Amount of the Trust Securities;provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 3 contracts
Samples: Expenses and Liabilities (Lincoln National Capital Vi), Trust Agreement and Agreement (Lincoln National Capital Vi), Expenses and Liabilities (Lincoln National Capital Vi)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital SecuritiesPreferred Securities then being redeemed, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 3 contracts
Samples: Agreement (Usf&g Corp), Agreement (Usf&g Corp), Agreement (Usf&g Corp)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata (based on Liquidation Amounts) made among the Common Securities and the Capital SecuritiesPreferred Securities based on the Liquidation Amount of the Trust Securities pursuant to Section 4.2(f); provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Capital SecuritiesPreferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 3 contracts
Samples: Agreement (Hl&p Capital Trust I), Agreement (Hl&p Capital Trust Iv), Trust Agreement (Hl&p Capital Trust I)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional AmountsContingent Distributions, if any) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional AmountsContingent Distributions, if any) on, or Redemption Price 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 accrued and unpaid Distributions (Distributions, including any Additional Amounts) Contingent Distributions, if any, on all Outstanding Capital Securities Trust PIERS 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 Capital SecuritiesTrust PIERS then called for redemption, 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 AmountsContingent Distributions, if any) on, or the Redemption Price of, Capital Securities Trust PIERS then due and payable.
Appears in 2 contracts
Samples: Trust Agreement (Omnicare Inc), Trust Agreement (Omnicare Capital Trust Ii)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(i), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital Preferred Securities, shall have been made or provided for, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 2 contracts
Samples: Trust Agreement (Sierra Pacific Resources Capital Trust Ii), Trust Agreement (Sierra Pacific Resources Capital Trust Ii)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Trust Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital SecuritiesTrust Preferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Trust Preferred Securities then due and payable.
Appears in 2 contracts
Samples: Trust Agreement (Mbna Corp), Trust Agreement (Mbna Corp)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, made subject to Section 4.2(e), 4.2(f) pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 2 contracts
Samples: Trust Agreement (Rli Corp), Trust Agreement (Harleysville Group Inc)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.02(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 2 contracts
Samples: Trust Agreement (PartnerRe Finance B LLC), Trust Agreement (PartnerRe Finance B LLC)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price plus accumulated and unpaid distributions of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 plus accumulated and unpaid Distributions on all Outstanding Capital 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 Amounts) on, or the Redemption Price of, Capital Securities then due and payable.,
Appears in 2 contracts
Samples: Agreement (Texas Utilities Electric Co), Agreement (Texas Utilities Electric Co)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price plus accumulated and unpaid distributions of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 plus accumulated and unpaid Distributions on all Outstanding Capital 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 Amounts, if applicable) on, or the Redemption Price of plus accumulated and unpaid Distributions of, Capital Preferred Securities then due and payable.
Appears in 2 contracts
Samples: Trust Agreement (Tu Electric Capital I), Trust Agreement (Tu Electric Capital Ii)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture Note Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 2 contracts
Samples: Agreement (Trenwick America Capital Trust Iii), Agreement (Trenwick America Capital Trust Iii)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price plus accumulated and unpaid distributions of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 2 contracts
Samples: Trust Agreement (Entergy Gulf States Inc), Trust Agreement (Entergy Gulf States Capital I)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional 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 (based on Liquidation Amounts) PRO RATA among the Common Securities and the Capital Securities based on the Liquidation Amount of such Trust Securities; providedPROVIDED, howeverHOWEVER, that if on any Distribution Date or Redemption Date 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 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 Amounts) on all Outstanding 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 Capital Securities then called for redemption, or in the case of payment of the Redemption Price Liquidation Distribution the full amount of such Redemption Price Liquidation Distribution on all Outstanding 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 Amounts) on, or the Redemption Price 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 2 contracts
Samples: Trust Agreement (United Community Capital Trust), Trust Agreement (City Holding Capital Trust)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payabledue.
Appears in 2 contracts
Samples: Agreement (Provident Companies Inc /De/), Trust Agreement (First Union Corp)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture Indenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 2 contracts
Samples: Trust Agreement (Oneok Inc /New/), Trust Agreement (Oneok Inc /New/)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.02(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital SecuritiesPreferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital 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 (Blue Valley Ban Corp), Trust Agreement (BVBC Capital Trust I)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro rata (made PRO RATA based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or the Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 2 contracts
Samples: Trust Agreement (Dura Automotive Systems Inc), Trust Agreement (Dayton Superior Capital Trust)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding 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 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 Amounts, if applicable) on, or the Redemption Price of, Capital Securities then due and payable.
Appears in 2 contracts
Samples: Trust Agreement (Ace LTD), Trust Agreement (Usb Capital V)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e402(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 2 contracts
Samples: Trust Agreement (Nevada Power Co), Trust Agreement (Nevada Power Co)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional AmountsDistributions, if applicable) on, and the Redemption Price of, of the Trust Securities, as applicable, shall be made, made subject to Section 4.2(e4.02(f), pro rata (to the Holders of the Trust Securities based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, -------- however, that if on any Distribution Date or Redemption Date any Debenture Event ------- of Default (or other event that, with notice or the passage of time or both, would become such an Event of Default resulting from a Debenture Default) or an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional AmountsDistributions, if applicable) on, or Redemption Price 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 AmountsDistributions, if applicable) on all Outstanding outstanding Capital Securities for all Distribution periods terminating Dates occurring 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 outstanding 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 AmountsDistributions, if applicable) on, or the Redemption Price of, Capital Securities then due and payable.
Appears in 2 contracts
Samples: Commonwealth Bankshares Inc, Commonwealth Bankshares Inc
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts) on, and the Liquidation, Distribution and Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from applicable date, a Debenture Note Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts) on, or Liquidation, Distribution and Redemption Price 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 Amounts) on all Outstanding Capital Preferred Securities for all Distribution distribution periods terminating on or prior thereto, or in the case of payment of the Liquidation, Distribution and Redemption Price Price, the full amount of such Liquidation, Distribution and Redemption Price on applicable to all Outstanding Capital SecuritiesPreferred Securities then Outstanding or then being redeemed, as the case may be, 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 Amounts) on, or the Liquidation, Distribution and Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 2 contracts
Samples: Trust Agreement (Public Service Enterprise Group Inc), Trust Agreement (Public Service Electric & Gas Co)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price 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 such Common Securities and Capital Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 2 contracts
Samples: Trust Agreement (Owens Corning Capital Ii), Agreement (Owens Corning Capital Ii)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price 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 Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital Preferred Securities, shall have been made or provided for, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 2 contracts
Samples: Agreement (Liberty Financial Capital Trust Ii), Agreement (Liberty Financial Capital Trust Ii)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price 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 such Common Securities and Capital Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture an Indenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 2 contracts
Samples: Declaration of Trust and Trust Agreement (Willamette Industries Inc), Declaration of Trust and Trust Agreement (Willamette Industries Inc)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price plus accumulated and unpaid distributions of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 plus accumulated and unpaid Distributions on all Outstanding 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 Amounts, if applicable) on, or the Redemption Price of plus accumulated and unpaid Distributions of, Capital Securities then due and payable.
Appears in 2 contracts
Samples: Trust Agreement (Texas Utilities Electric Co), Trust Agreement (Texas Utilities Electric Co)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; [provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture Stock Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts) on, or Redemption Price 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 Amounts) on all Outstanding Capital 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 Capital 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 Amounts) on, or the Redemption Price of, Capital Preferred Securities then due and payable].
Appears in 2 contracts
Samples: Trust Agreement (Sce Trust I), Trust Agreement (Sce Trust I)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, -------- however, that if on any Distribution Date or Redemption Date any an Indenture Event of Default resulting from a Debenture Event ------- of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 2 contracts
Samples: Trust Agreement (Duke Energy Capital Trust Ii), Trust Agreement (Duke Capital Financing Trust Iii)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust LLC Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Securities based on the Liquidation Amount of the LLC Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding 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 Capital SecuritiesSecurities then called for redemption, shall have been made or provided for, and all funds immediately available to the Property Trustee Company shall first be applied to the payment in full in cash of all Distributions (including any Additional Amounts, if applicable) on, or the Redemption Price of, Capital Securities then due and payable.
Appears in 1 contract
Samples: Delphi Financial Group Inc/De
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price 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 Capital SecuritiesPreferred Securities based on the Liquidation Amount of the Trust Securities pursuant to Section 4.2(f); provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Capital SecuritiesPreferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Samples: Agreement (Hl&p Capital Trust Iv)
Subordination of Common Securities. (a) a)......Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Preference of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture an Indenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(eSECTION 402(F), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; , provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital SecuritiesPreferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the aggregate Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) payable as a preference on all Outstanding Capital 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 Capital SecuritiesPreferred Securities called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional 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 Capital STACKS based on the Accreted Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Redemption Liquidation Date any 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 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 Amounts) on all Outstanding Capital Securities STACKS 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 Capital SecuritiesSTACKS then called for redemption, or in the case of payment of the Liquidation Distribution the full amount of such Liquidation Distribution on all Outstanding STACKS, 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 Amounts) on, or the Redemption Price of, Capital Securities the STACKS then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.02(f), pro rata (PRO RATA based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; providedPROVIDED, howeverHOWEVER, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Samples: Trust Agreement (Amerus Capital I)
Subordination of Common Securities. (a) Payment of ----------------------------------- Distributions (including any Additional Amounts) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from -------- ------- Date, a Debenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts) on, or Redemption Price 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 Amounts) on all Outstanding Capital Preferred Securities for all Distribution distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price Price, the full amount of such Redemption Price Price, on all Outstanding Capital SecuritiesPreferred Securities then being redeemed, 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 Amounts) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Samples: Trust Agreement (SJG Capital Trust)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture Indenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital SecuritiesPreferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional 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 Capital Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Redemption Liquidation Date any Event of Default resulting from a Debenture Event of Default specified in Section 5.1 of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional 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 Amounts) on all Outstanding 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 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 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 Amounts) on, or the Redemption Price of, Liquidation Distribution of the Capital Securities then due and payable.
Appears in 1 contract
Samples: Trust Agreement (State Street Corp)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.02(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital SecuritiesPreferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Samples: Trust Agreement (Bridge Bancorp Inc)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional 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 Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Redemption Liquidation Date any Event of Default resulting from a Debenture Event of Default specified in Section [501(1) or 501(2)] [601(1) or 601(2)] of the Indenture shall have occurred and be continuing, no payment of any Distribution (including any Additional 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 Amounts) on all Outstanding Capital 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 Capital 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 Amounts) on, or the Redemption Price of, Capital the Preferred Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price and/or Liquidation Distribution of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(j), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Redemption Liquidation Date 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 Amounts, if applicable) on, or Redemption Price and/or Liquidation Distribution 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 shall have been made or been provided for in full in cash of (i) all accumulated and unpaid Distributions (including any Additional Amounts, if applicable) on all Outstanding Capital 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 Capital SecuritiesPreferred Securities then being redeemed, as applicable, 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 Amounts, if applicable) on, or the Redemption Price and/or Liquidation Distribution of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.02(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 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 Amounts) on, or the Redemption Price of, Capital Preferred Securities then due and payable.called for redemption, shall
Appears in 1 contract
Samples: Trust Agreement (Flagstar Trust)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), pro -21- 29 rata (based on Liquidation Amounts) among the Common Securities and the Preferred Securities based on the Liquidation Amount of such Common Securities and Capital Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
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Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Preferred Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Preferred Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Samples: Trust Agreement (GBB Capital I)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e402(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price Price, payment of the full amount of such Redemption Price on all Outstanding Capital SecuritiesPreferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
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Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price of, any Common 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 Amounts, if applicable) on all Outstanding Capital 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 Capital SecuritiesPreferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
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Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price plus accumulated and unpaid Distributions of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or Redemption Price plus accumulated and unpaid Distributions 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 Amounts, if applicable) on all Outstanding Capital 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 plus accumulated and unpaid Distributions on all Outstanding 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 Amounts, if applicable) on, or the Redemption Price plus accumulated and unpaid Distributions of, Capital Securities then due and payable.
Appears in 1 contract
Samples: Agreement (Texas Utilities Co /Tx/)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable, and Additional Distributions, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.02(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable, and Additional Distributions, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding 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 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 Amounts, if applicable, and Additional Distributions, if applicable) on, or the Redemption Price of, Capital Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, Securities shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture Event of Default (as a result of any failure by the Depositor to pay amounts in respect of Debentures when due) shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding 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 Capital SecuritiesSecurities then called for redemption, shall have been made or provided for, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Securities then due and payable.
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Subordination of Common Securities. (a) Payment of Distributions (including any Additional AmountsAmounts and/or Registration Default Distributions, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 AmountsAmounts and/or Registration Default Distributions, if applicable) on all Outstanding 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 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 AmountsAmounts and/or Registration Default Distributions, if applicable) on, or the Redemption Price of, Capital Securities then due and payabledue.
Appears in 1 contract
Samples: Trust Agreement (First Union Institutional Capital Ii)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional AmountsDistributions) 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 Capital Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date, Redemption Date or Redemption Liquidation Date 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 AmountsDistributions) 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 AmountsDistributions) on all Outstanding 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 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 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 AmountsDistributions) on, or the Redemption Price of, the Capital Securities then due and payable.
Appears in 1 contract
Samples: Trust Agreement (Bt Capital Trust B)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Preference of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture an Indenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Samples: Trust Agreement (Sei Trust I)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amountsadditional interest, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture Note Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amountsadditional interest, if applicable) on, or Redemption Price 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 Amountsadditional interest, if any) on all Outstanding Capital 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 Capital 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 Amountsadditional interest, if any) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the aggregate Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital Preferred Securities for all Distribution periods terminating terminated on or prior thereto, or in the case of payment of the Redemption Price the full amount of such Redemption Price on all Outstanding Capital SecuritiesPreferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
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Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price ofof plus accumulated and unpaid Distributions on, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 plus accumulated and unpaid Distributions on all Outstanding Capital 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 Amounts, if applicable) on, or the Redemption Price ofof plus accumulated and unpaid Distributions on, Capital Preferred Securities then due and payable.
Appears in 1 contract
Samples: Expense Agreement (Midamerican Energy Financing Ii)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional 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) PRO RATA among the Common Securities and the Capital Securities based on the Liquidation Amount of the Trust Securities; providedPROVIDED, howeverHOWEVER, that if on any Distribution Date, Redemption Date or Redemption Liquidation Date 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 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 Amounts) on all Outstanding 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 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 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 Amounts) on, or the Redemption Price of, the Capital Securities then due and payable.
Appears in 1 contract
Samples: Trust Agreement (Zions Institutional Capital Trust A)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e)4(f) hereof, pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding 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 Capital SecuritiesSecurities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional 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 (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of such Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 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 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital or Liquidation Distribution in respect of Preferred Securities then due and payable.
Appears in 1 contract
Samples: Trust Agreement (American Safety Insurance Group LTD)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price 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 Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital SecuritiesPreferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(g), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital SecuritiesPreferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common -------------- Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or -------- ------- Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; providedPROVIDED, howeverHOWEVER, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital SecuritiesPreferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price plus accumulated and unpaid distributions of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 plus accumulated and unpaid Distributions on all Outstanding 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 Amounts, if applicable) on, or the Redemption Price of plus accumulated and unpaid Distributions of, Capital Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding 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 Capital SecuritiesSecurities then being redeemed, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Securities then due and payable.
Appears in 1 contract
Samples: Trust Agreement (Usf&g Corp)
Subordination of Common Securities. (a) Payment of ---------------------------------- Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Preference of the Common Securities and the Capital Trust Securities; provided, however, -------- ------- that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or the Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital SecuritiesPreferred Securities then called upon for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital 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 Capital Preferred Securities, shall have been made or provided formade, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price 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 Capital Securities based on the Liquidation Amount of such Common Securities and Capital Securities; provided, however, that if on any Distribution Date or Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding 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 Capital SecuritiesSecurities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Securities then due and payable.
Appears in 1 contract
Samples: Trust Agreement (Pmi Group Inc)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional AmountsAmounts and/or Additional Distributions, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Securities; provided, however, that if on any Distribution Date or Redemption Date 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 AmountsAmounts and/or Additional Distributions, if applicable) on, or Redemption Price 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 AmountsAmounts and/or Additional Distributions, if applicable) on all Outstanding 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 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 AmountsAmounts and/or Additional Distributions, if applicable) on, or the Redemption Price of, Capital Securities then due and payabledue.
Appears in 1 contract
Samples: Trust Agreement (First Union Corp)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the aggregate Liquidation Amounts) among Amount of --- ---- the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or -------- ------- Redemption Date 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 Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) payable as a preference on all Outstanding Capital 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 Capital SecuritiesPreferred Securities called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Samples: Trust Agreement (Rouse Company)
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, of the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Preferred Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture Event of Default shall have occurred and be is continuing, no payment of any Distribution distribution (including any Additional Amounts, if applicable) on, or Redemption Price 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 Amounts, if applicable) on all Outstanding Capital Preferred Securities for all Distribution periods terminating on or prior thereto, or in the case of payment of the Redemption Price Price, the full amount of such Redemption Price on all Outstanding Capital SecuritiesPreferred Securities then called for redemption, 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 Amounts, if applicable) on, or the Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on[, and the Redemption Price of, ,] the Trust Securities, as applicable, shall be made, subject to Section 4.2(e4.2(f), pro rata (based on Liquidation Amounts) among the Common Securities and the Capital Securities based on the Liquidation Amount of the Trust Securities; provided, however, that if on any Distribution Date [or Redemption Date Date] 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 Amounts, if applicable) on[, or Redemption Price 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 Amounts, if applicable) on all Outstanding 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 Capital Securities, Securities then called for redemption,] 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 Amounts, if applicable) on[, or the Redemption Price of, ,] Capital Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the applicable Redemption Price of, the Trust Securities, as applicablethe case may be, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture an Indenture Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or the applicable Redemption Price 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 Amounts, if applicable) on all Outstanding Capital Preferred Securities for all Distribution distribution periods terminating on or prior thereto, or in the case of payment of the applicable Redemption Price the full amount of such Redemption Price on all Outstanding Capital 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 Amounts, if applicable) on, or the applicable Redemption Price of, Capital Preferred Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional AmountsDistributions) 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) PRO RATA among the Common Securities and the Capital Securities based on the Liquidation Amount of the Trust Securities; providedPROVIDED, howeverHOWEVER, that if on any Distribution Date, Redemption Date or Redemption Liquidation Date 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 AmountsDistributions) 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 AmountsDistributions) on all Outstanding 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 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 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 AmountsDistributions) on, or the Redemption Price of, of or the Liquidation Distribution in respect of the Capital Securities then due and payable.
Appears in 1 contract
Subordination of Common Securities. (a) Payment of Distributions (including any Additional Amounts, if applicable) on, and the Redemption Price of, on the Trust Securities, as applicable, shall be made, subject to Section 4.2(e), made pro rata (based on the Liquidation Amounts) among Amount of the Common Securities and the Capital Trust Securities; provided, however, that if on any Distribution Date or Redemption Date any Event of Default resulting from a Debenture an Event of Default shall have occurred and be continuing, no payment of any Distribution (including any Additional Amounts, if applicable) on, or Redemption Price of, on 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 Amounts, if applicable) on all Outstanding Capital 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 Capital Securities, thereto 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 Amounts, if applicable) on, or the Redemption Price of, Capital on Preferred Securities then due and payable.
Appears in 1 contract
Samples: Boise Cascade Corp
