Common Securities definition

Common Securities means the securities representing common undivided beneficial interests in the assets of the Issuer.

Common Securities means undivided beneficial interests in the assets of the Trust which rank pari passu with Capital Securities issued by the Trust; provided, however, that upon the occurrence and continuance of an Event of Default (as defined in the Declaration), the rights of holders of such Common Securities to payment in respect of distributions and payments upon liquidation, redemption and otherwise are subordinated to the rights of holders of such Capital Securities.

Common Securities has the meaning specified in the first recital of this Indenture.

Examples of Common Securities in a sentence

• Distributions shall be made on the Capital Securities and the Common Securities in accordance with the preferences set forth in their respective terms.

• No vote or consent of the Holders of the Common Securities will be required for the Trust to redeem and cancel Common Securities or to distribute the Debentures in accordance with the Declaration and the terms of the Securities.

• The Trust shall issue no securities or other interests in the assets of the Trust other than the Capital Securities and the Common Securities.

• Payments in respect of the Common Securities shall be made in such manner as shall be mutually agreed between the Property Trustee and the Holder of the Common Securities.

• Payments in respect of the Common Securities shall be made in such manner as shall be mutually agreed between the Property Trustee and the Common Securityholder.

More Definitions of Common Securities

Common Securities means undivided beneficial interests in the assets of the Trust which rank pari passu with the Preferred Securities; provided, however, that upon the occurrence of an Event of Default, the rights of holders of Common Securities to payment in respect of distributions and payments upon liquidation, redemption and otherwise are subordinated to the rights of holders of Preferred Securities.

Common Securities means the common securities issued by the Issuer to the Guarantor pursuant to the Declaration.

Common Securities has the meaning set forth in paragraph 1(b) of Annex I.

Common Securities has the meaning specified in Section 7.1(a).

Common Securities has the meaning specified in the Recitals hereto.

Common Securities has the meaning specified in the Declaration.

Common Securities means common limited liability company membership units of the Company or common stock of the Company, if the Company is restructured as a corporation, including the securities issuable upon the conversion of this instrument pursuant to Sections 1(a) or 1(b). For purposes of this Crowd SAFE, “common limited liability company membership units” refers to those interests in the Company that, as of the relevant event, would be last to receive a repayment of all capital contributions made in respect to such interests.