Common Contracts
2 similar Replacement Capital Covenant contracts by Us Bancorp \De\
RecitalsReplacement Capital Covenant • April 12th, 2006 • Us Bancorp \De\ • National commercial banks
Corporation), interest on which may be deferred for five years or more and, commencing with the date two years after the beginning of an interest deferral period, will be paid pursuant to an Alternative Payment Mechanism, and (b) a fractional interest in a stock purchase contract, (ii) includes a remarketing feature pursuant to which the subordinated debt of the Corporation is remarketed to new investors within five years from the date of issuance of the security or earlier in the event of an early settlement event based on (a) the capital ratios of the Corporation, (b) the capital ratios of the Corporation as anticipated by the Federal Reserve Board, or (c) the dissolution of the issuer of such Debt Exchangeable for Equity, (iii) provides for the proceeds raised in the remarketing to be used to purchase common stock or Qualifying Non-Cumulative Preferred Stock of the Corporation, (iv) includes an Explicit Replacement Covenant, provided that such Explicit Replacement Covenant will not
RecitalsReplacement Capital Covenant • March 27th, 2006 • Us Bancorp \De\ • National commercial banks
the Corporation as anticipated by the Federal Reserve, or (c) the dissolution of the issuer of such Debt Exchangeable for Equity, (iii) provides for the proceeds raised in the remarketing to be used to purchase common stock or Qualifying Non-Cumulative Preferred Stock of the Corporation, (iv) includes an Explicit Replacement Capital Covenant, provided that such Explicit Replacement Capital Covenant will not include Debt Exchangeable for Equity in the definition of “replacement capital securities,” and (v) after the issuance of such common stock or preferred stock, provides the holder of the security with a beneficial interest in such common stock or Qualifying Non-Cumulative Preferred Stock.
