Bank Parity Securities definition

Bank Parity Securities means (i) each class of preferred or preference shares or similar securities of the Bank that ranks equally with the most senior ranking preferred or preference shares or similar securities of the Bank and (ii) any securities issued by any subsidiaries of the Bank and entitled to the benefit of any guarantee or support agreement or similar undertaking of the Bank that ranks equally with the Bank Subordinated Guarantee.
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Bank Parity Securities. ’ means, (i) any preferred or preference shares or profit-sharing certificates (parts be´ne´ficiaires /winstbewijzen) of Fortis Bank, including for the avoidance of doubt, any profit-sharing certificates that may be issued on conversion of the 6.50% Perpetual Securities, and any securities which are expressly stated to rank pari passu with the Securities (collectively, ‘‘Bank Parity Shares’’) or any securities which are expressly stated to rank junior to the Securities (‘‘Bank Junior Securities’’), (ii) guarantees by Fortis Bank (whether through an agreement or instrument labeled as a guarantee, as a support agreement, or with some other name but with an effect similar to a guarantee or support agreement) of preferred securities or preferred or preference shares issued by any of Fortis Bank’s subsidiaries, which guarantees are expressly stated to rank pari passu with the Securities or rank pari passu with Bank Parity Shares (collectively, ‘‘Bank Parity Guarantees’’) or which guarantees are expressly stated to rank junior to the Securities or rank junior to Bank Parity Shares (‘‘Bank Junior Guarantees’’) and (iii) securities issued by any subsidiary of Fortis Bank that are guaranteed under any Bank Parity Guarantee or Bank Junior Guarantee.
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Bank Parity Securities means the Bank Parity Preferred Shares, the Bank Parity Guarantees and any securities issued by a subsidiary of the Bank that are guaranteed by the Bank under a Bank Parity Guarantee. For the avoidance of doubt, the Initial Company Preferred Securities and the Series II Company Preferred Securities are “Bank Parity Securities”.
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Examples of Bank Parity Securities in a sentence

  • The special dividend will be in an amount that, when taken together with dividends previously paid on the Company Preferred Securities during the Relevant Period, represents the same proportion of full dividends on the Company Preferred Securities for all Dividend Payment Dates during the Relevant Period that the dividend on Bank Parity Securities paid on such date bears to full dividends on such Bank Parity Securities for the Relevant Period.

  • The special dividend will be in an amount that, when taken together with dividends previously paid on the Company Preferred Securities during the Relevant Period, represents the same proportion of full dividends on the Company Preferred Securities for all Dividend Payment Dates 32 during the Relevant Period that the dividend on Bank Parity Securities paid on such date bears to full dividends on such Bank Parity Securities for the Relevant Period.


More Definitions of Bank Parity Securities

Bank Parity Securities means any silent partnership agreement or any other instrument of the Bank that has rights to payment that are expressly or legally subordinated to all creditors of the Bank (including holders of Genußscheine) but that are senior to the rights of the Ordinary Securities of the Bank and that would qualify as consolidated tier one capital of the Bank for purposes of the capital requirements of the KWG or the rules of the Committee on Banking Supervision at the Bank for International Settlements, Basle, Switzerland ("Tier One Capital") (or would have so qualified except for the provisions of German law relating to regulatory capital requirements, pursuant to which Tier One Capital treatment of such instrument is lost a period of time prior to maturity). "Subsidiary Parity Linked Securities" means any silent partnership agreement or any other instrument of any subsidiary of the Bank that has rights to payment that are
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Bank Parity Securities means the Bank Parity Preferred Shares, the Bank Parity Guarantees and any securities issued by a subsidiary of the Bank that are guaranteed by the Bank under a Bank Parity Guarantee.
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Bank Parity Securities. ’ means, (i) the most senior ranking preferred or preference shares or profit-sharing certificates (parts be´ne´ficiaires /winstbewijzen) of Fortis Bank and any securities which are
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Related to Bank Parity Securities

  • Parity Securities has the meaning specified therefor in Section 2.02(b) of this Agreement.

  • Series A Parity Securities means any class or series of Partnership Interests that, with respect to distributions on such Partnership Interests or distributions upon liquidation of the Partnership, ranks pari passu with the Series A Preferred Units.

  • Security, Securities shall have the meaning set forth in Section 2(1) of the Securities Act;

  • Parity Shares means the APS and each other outstanding series of Preferred Shares the holders of which, together with the holders of the APS, shall be entitled to the receipt of dividends or of amounts distributable upon liquidation, dissolution or winding up, as the case may be, in proportion to the full respective preferential amounts to which they are entitled, without preference or priority one over the other.

  • Parity Stock means any class or series of stock of the Corporation (other than Designated Preferred Stock) the terms of which do not expressly provide that such class or series will rank senior or junior to Designated Preferred Stock as to dividend rights and/or as to rights on liquidation, dissolution or winding up of the Corporation (in each case without regard to whether dividends accrue cumulatively or non-cumulatively).

  • Liquidation Parity Stock means any class or series of stock of the Corporation (other than the Series L Preferred Stock) that ranks equally with the Series L Preferred Stock in the distribution of assets on any liquidation, dissolution or winding up of the Corporation.

  • Equity Securities means, with respect to any Person that is a legal entity, any and all shares of capital stock, membership interests, units, profits interests, ownership interests, equity interests, registered capital, and other equity securities of such Person, and any right, warrant, option, call, commitment, conversion privilege, preemptive right or other right to acquire any of the foregoing, or security convertible into, exchangeable or exercisable for any of the foregoing.

  • Senior Securities means senior securities (as such term is defined and determined pursuant to the Investment Company Act and any orders of the SEC issued to the Borrower thereunder).

  • Senior Stock means any class or series of stock of the Company now existing or hereafter authorized which has preference or priority over the Series AA Preferred Stock as to the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the Company.

  • Hybrid Equity Securities means securities issued by Borrower or any subsidiary that (a) are classified as possessing a minimum of (i) “intermediate equity content” by S&P and (ii) “Basket C equity credit” by Moody’s and (b) do not contain any scheduled principal payments or prepayments or any mandatory redemptions or mandatory repurchases prior to the date that is at least 91 days after the latest applicable Maturity Date.

  • Series A Junior Securities means any class or series of Partnership Interests that, with respect to distributions on such Partnership Interests and distributions upon liquidation of the Partnership, ranks junior to the Series A Preferred Units, including Common Units and Non-Voting Common Units, but excluding any Series A Parity Securities and Series A Senior Securities.

  • Preference Stock means any and all series of preference stock, having no par value, of the Corporation.

  • Junior Stock means the Corporation’s common stock and any other class or series of stock of the Corporation hereafter authorized over which Series I Preferred Stock has preference or priority in the payment of dividends or in the distribution of assets on any liquidation, dissolution or winding up of the Corporation.

  • Voting Parity Stock means, with regard to any matter as to which the holders of Designated Preferred Stock are entitled to vote as specified in Sections 7(a) and 7(b) of these Standard Provisions that form a part of the Certificate of Designations, any and all series of Parity Stock upon which like voting rights have been conferred and are exercisable with respect to such matter.

  • Designated Preferred Stock means Preferred Stock of the Company or any direct or indirect parent of the Company, as applicable (other than Disqualified Stock), that is issued for cash (other than to the Company or any of its Subsidiaries or an employee stock ownership plan or trust established by the Company or any of its Subsidiaries) and is so designated as Designated Preferred Stock, pursuant to an Officers’ Certificate, on the issuance date thereof.

  • Exempt Securities has the meaning set forth in Section 4.4(d).

  • Available Securities means the securities of the Funds that are available for Loans pursuant to Section 3.

  • Series B Securities means the 11-1/2% Senior Notes due 2007, Series B, of the Company to be issued pursuant to this Indenture in exchange for the Series A Securities pursuant to the Registered Exchange Offer and the Registration Rights Agreement.

  • voting equity securities means equity securities having voting power for the election of directors, whether at all times or only so long as no senior class of security has such voting power by reason of any contingency.

  • Exchangeable Securities means any securities of any trust, limited partnership or corporation other than the Trust that are convertible or exchangeable directly for Units without the payment of additional consideration therefor;

  • Pari Passu Securities means any class or series of capital stock of the Company hereafter created specifically ranking, by its terms, on parity with the Designated Preferred Stock as to distribution of assets upon liquidation, dissolution or winding up of the Company, whether voluntary or involuntary.

  • Permitted Preferred Stock means and refers to any Preferred Stock issued by Parent (and not by one or more of its Subsidiaries) that is not Prohibited Preferred Stock.

  • Preference Shares means the Preference Shares in the capital of the Company of $0.0001 nominal or par value designated as Preference Shares, and having the rights provided for in these Articles.

  • Series B Preferred means the Company’s Series B Preferred Stock, par value $0.001 per share.

  • Reorganization Securities has the meaning set forth in Section 6.9 hereof.

  • Qualified Securities means securities of a reporting issuer that carry the right to participate in voting on the appointment or removal of the reporting issuer’s auditor;