Common Trust Securities definition

Common Trust Securities has the meaning specified in the first recital of this Indenture.
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Common Trust Securities means the common securities representing undivided beneficial interests in the assets of the Issuer that will be issued to American Electric Power Company, Inc., as Depositor.]
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Common Trust Securities has the meaning specified in Section 7.1(a).
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Examples of Common Trust Securities in a sentence

  • On the Closing Date, the Depositor shall acquire, and thereafter retain, beneficial and record ownership of the Common Trust Securities.

  • Except as permitted by Section 5.10 of the Trust Agreement (as defined below), the Common Trust Securities are not transferable and any attempted transfer hereof shall be void.

  • Whether or not a Tax Event has occurred, the Depositor has the right, at any time, to dissolve the Trust and, after satisfaction of liabilities to creditors of the Trust, if any, as provided by applicable law, cause the Debentures to be distributed to the Holders of the Preferred Trust Securities and Common Trust Securities in liquidation of the Trust on a pro rata basis.

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

  • Except in connection with a transaction involving the Depositor that would be permitted under Article Eleven of the Subordinated Indenture, any attempted transfer of the Common Trust Securities shall, to the fullest extent permitted by law, be void.

  • By acceptance, the Holder agrees to treat, for United States federal income tax purposes, the Debentures as indebtedness and the Common Trust Securities as evidence of undivided beneficial interests in the assets of the Trust.

  • The Administrative Trustees shall cause each Common Trust Securities Certificate issued to the Depositor to contain a legend stating "THIS CERTIFICATE IS NOT TRANSFERABLE EXCEPT AS PROVIDED IN THE TRUST AGREEMENT." Common Trust Securities Certificates representing the Common Trust Securities shall be issued to the Depositor in the form of a typewritten or definitive Common Trust Securities Certificate.

  • The Holder of Common Trust Securities will be entitled to receive Liquidation Distributions upon any such winding-up pro rata (determined as aforesaid) with Holders of Preferred Trust Securities, except that, if a Debenture Event of Default (or event that with the lapse of time or giving of notice would become an Event of Default) has occurred and is continuing, the Preferred Trust Securities shall have a priority over the Common Trust Securities.

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

  • The parties hereto desire to provide for, among other things, (i) the issuance of the Common Trust Securities, as hereinafter defined, by the Trust to the Depositor, (ii) the issuance of the Preferred Trust Securities, as hereinafter defined, by the Trust, pursuant to the Underwriting Agreement and (iii) the acquisition by the Trust of all of the right, title and interest in the Debentures, as hereinafter defined.


More Definitions of Common Trust Securities

Common Trust Securities means the common securities representing undivided beneficial interests in the assets of the Issuer that will be issued to FPL Group, Inc., as Depositor and has the terms set forth in the Trust Agreement.
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Common Trust Securities means the securities representing undivided beneficial interests in the assets of the Issuer and having the rights provided therefor in the Trust Agreement.
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Common Trust Securities means the Common Trust Securities of a Trust, representing undivided beneficial interests in the assets of such Trust.
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Common Trust Securities has the meaning specified in the recitals to this Common Trust Securities Guarantee Agreement.
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Common Trust Securities means undivided beneficial interests in the assets of Life Re Capital Trust which rank pari passu with QUIPS issued by Life Re Capital Trust; provided, however, that if an Event of Default (solely as the result of an event described in clauses (a), (b) or (c) thereto) has occurred and is continuing, no payments in respect of Distributions on, or payments upon liquidation, redemption or otherwise with respect to, the Common Trust Securities shall be made until the holders of the QUIPS shall be paid in full the Distributions and the liquidation, redemption and other payments to which they are entitled.
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Common Trust Securities has the meaning specified in Section 8.01 of the Trust Agreement.
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Related to Common Trust Securities

  • Trust Securities means the Common Securities and the Capital Securities.

  • Capital Securities means undivided beneficial interests in the assets of the Trust which rank pari passu with Common 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.

  • Trust Preferred Securities any preferred securities issued by a Trust Preferred Securities Subsidiary, where such preferred securities have the following characteristics:

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

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

  • Capital Securities Guarantee Trustee means The Bank of New York, a New York banking corporation, until a Successor Capital Securities Guarantee Trustee has been appointed and has accepted such appointment pursuant to the terms of this Capital Securities Guarantee and thereafter means each such Successor Capital Securities Guarantee Trustee.

  • ETP Securities means the Series of ETP Securities to which these Conditions relates or, as the context may require, any or all securities issued by the Issuer under the Programme.

  • Individual Securities shall have the meaning specified in Section 3.01(p).

  • NIM Securities Any debt securities secured or otherwise backed by some or all of the Class X and Class P Certificates that are rated by one or more Rating Agencies.

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

  • Trust Securities Certificate means any one of the Common Securities Certificates or the Preferred Securities Certificates.

  • Successor Capital Securities Guarantee Trustee means a successor Capital Securities Guarantee Trustee possessing the qualifications to act as Capital Securities Guarantee Trustee under Section 4.1.

  • Equity Preferred Securities means, with respect to any Person, any trust preferred securities or deferrable interest subordinated debt securities issued by such Person or other financing vehicle of such Person that (i) have an original maturity of at least twenty years, and (ii) require no repayments or prepayments and no mandatory redemptions or repurchases, in each case, prior to the first anniversary of the latest Maturity Date.

  • Trust Units means units of the Trust;

  • Series A Securities means the Company's 9.25% Series A Junior Subordinated Deferrable Interest Debentures due February 1, 2027, as authenticated and issued under this Indenture.

  • Securities has the meaning stated in the first recital of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture.

  • Liquidation Trust Agreement means the Liquidation Trust Agreement to be dated as of the Effective Date establishing the terms and conditions of the Liquidation Trust, substantially in the form attached hereto as Exhibit B.

  • New Securities Trustee means a bank or trust company reasonably satisfactory to the Initial Purchasers, as trustee with respect to the New Securities under the New Securities Indenture.

  • Corporation Securities means (i) shares of Common Stock, (ii) shares of Preferred Stock (other than preferred stock described in Section 1504(a)(4) of the Code), (iii) warrants, rights, or options (including options within the meaning of Treasury Regulation § 1.382-2T(h)(4)(v)) to purchase stock of the Corporation, and (iv) any other interest that would be treated as “stock” of the Corporation pursuant to Treasury Regulation § 1.382-2T(f)(18).

  • 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.

  • Preferred Units means a Partnership Interest, including the Series A Preferred Units, designated as a “Preferred Unit,” which entitles the holder thereof to a preference with respect to distributions, or as to the distribution of assets upon any Liquidation Event, over Common Units.

  • Definitive Capital Securities means any Capital Securities in definitive form issued by the Trust.

  • Issuer Trustees means, collectively, the Property Trustee and the Delaware Trustee.

  • Preferred Guarantee Trustee means The Bank of New York, until a Successor Preferred Guarantee Trustee has been appointed and has accepted such appointment pursuant to the terms of this Preferred Securities Guarantee and thereafter means each such Successor Preferred Guarantee Trustee.

  • Series D Notes is defined in Section 1.

  • Underlying Securities Trustee means The Bank of New York.