Exchange Preferred Securities definition

Exchange Preferred Securities means a series of Preferred Securities of the Trust to be issued under the Declaration in connection with the offer to exchange Preferred Securities for a new series of Preferred Securities pursuant to the Declaration and the Registration Rights Agreement.
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Exchange Preferred Securities means the 10 1/4% Trust Preferred Securities, Series B issued by the Trust containing terms identical to the Preferred Securities in all material respects (except that (i) interest thereon shall accrue from the last interest payment date on which interest was paid on the Preferred Securities or, if no interest has been paid, from the date of original issue of the Preferred Securities, (ii) the transfer restrictions on the Preferred Securities shall be modified or eliminated, as appropriate, and (iii) certain provisions relating to an increase in the stated rate of interest of the Preferred Securities shall be eliminated), to be offered to Holders of the Preferred Securities in exchange for the Preferred Securities pursuant to the Exchange Offer.
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Exchange Preferred Securities has the meaning set forth in Section 5.1(a) hereof.
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Examples of Exchange Preferred Securities in a sentence

  • All guarantees and agreements in this Exchange Guarantee Agreement shall bind the successors, assigns, receivers, trustees and representatives of the Exchange Guarantor and shall inure to the benefit of the Holders of the Exchange Preferred Securities then outstanding.

  • The Exchange Guarantor acknowledges that its obligations hereunder are independent of the obligations of the Issuer with respect to the Exchange Preferred Securities and that the Exchange Guarantor shall be liable as principal and as debtor hereunder to make Guarantee Payments pursuant to the terms of this Exchange Guarantee Agreement notwithstanding the occurrence of any event referred to in subsection (a) through (g), inclusive, of Section 5.3 hereof.

  • Notwithstanding the foregoing, this Exchange Guarantee Agreement will continue to be effective or will be reinstated, as the case may be, if at any time any Holder must restore payment of any sums paid with respect to Exchange Preferred Securities or this Exchange Guarantee Agreement.

  • This Exchange Guarantee Agreement is solely for the benefit of the Holders and is not separately transferable from the Exchange Preferred Securities.

  • Except with respect to any changes that do not adversely affect the rights of the Holders in any material respect (in which case no consent of the Holders will be required), this Exchange Guarantee Agreement may only be amended with the prior approval of the Holders of not less than a Majority in liquidation amount of all outstanding Exchange Preferred Securities.

  • Interest on each of the Exchange Preferred Securities will accrue from the last interest payment date on which interest was paid on the Registrable Preferred Securities surrendered in exchange therefor or, if no interest has been paid on the Registrable Preferred Securities, from the date of original issue of the Registrable Preferred Securities.

  • The Company and the Trust understand that they may be required, in certain instances, to deduct 31% with respect to interest paid on the Exchange Preferred Securities and proceeds from the sale, exchange, redemption or retirement of the Exchange Preferred Securities from Holders who have not supplied their correct Taxpayer Identification Number or required certification.

  • This Exchange Guarantee Agreement shall terminate and be of no further force and effect upon (i) full payment of the Redemption Price of the Exchange Preferred Securities, (ii) the distribution of Exchange Notes to the Holders in exchange for all of the Exchange Preferred Securities or (iii) full payment of the amounts payable in accordance with the Declaration upon liquidation of the Issuer.

  • When this Letter of Transmittal is signed by the registered holder of the Preferred Securities listed and transmitted hereby, no endorsement of Certificates or separate bond powers are required unless Exchange Preferred Securities are to be issued in the name of a person other than the registered holder.

  • If Exchange Preferred Securities are to be issued in the name of a person other than the registered holder, or if Exchange Preferred Securities are to be sent to someone other than the registered holder or to an address other than that shown above, the appropriate boxes on this Letter of Transmittal should be completed.

Related to Exchange Preferred Securities

  • 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.

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

  • Non Book-Entry Preferred Securities shall have the meaning set forth in Section 2.4.

  • Series E Preferred Shares means the Series E Preferred Shares of the Company, par value US$0.0001 per share, with the rights and privileges as set forth in the Memorandum and Articles.

  • Series G Preferred Stock means the Corporation's Series G Convertible Preferred Stock, par value $0.004 per share.

  • Series F Preferred Shares means the Series F Preferred Shares of the Company, par value US$0.0001 per share, with the rights and privileges as set forth in the Memorandum and Articles.

  • Series E Preferred Stock means shares of the Company’s Series E Preferred Stock, par value $0.0001 per share.

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

  • Series F Preferred Stock means shares of the Company’s Series F Preferred Stock, par value $0.0001 per share.

  • Series H Preferred Stock means the Corporation's Series H Convertible Preferred Stock, par value $0.004 per share.

  • Series A Preferred Shares means the Series A Preferred Shares of the Company, par value US$0.0001 per share, with the rights and privileges as set forth in the Memorandum and Articles.

  • Series D Preferred Shares means the Company’s series D preferred shares, par value US$0.00001 per share.

  • Series C Preferred Shares means the Company’s series C preferred shares, par value US$0.00001 per share.

  • Series A Preferred Stock means shares of the Company’s Series A Preferred Stock, par value $0.0001 per share.

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

  • Series A-1 Preferred Shares means the Company’s series A-1 preferred shares, par value US$0.00001 per share.

  • Class A Preferred Shares shall have the meaning ascribed to it in Section 2.4(a).

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

  • Series A-2 Preferred Stock means shares of the Company’s Series A-2 Preferred Stock, par value $0.0001 per share.

  • Series A-1 Preferred Stock means shares of the Company’s Series A-1 Preferred Stock, par value $0.0001 per share.

  • Redeemable Preferred Stock of any Person means any preferred stock issued by such Person which is at any time prior to the Termination Date either (i) mandatorily redeemable (by sinking fund or similar payments or otherwise) or (ii) redeemable at the option of the holder thereof.

  • Series A Convertible Preferred Stock means the Series A Convertible Preferred Stock, $0.001 par value per share, of the Corporation.

  • Series A Preference Shares means the Series A Preference Shares of £0.05 each in the capital of the Company.

  • Class A Preferred Stock means the Class A preferred stock, nominal value $0.0001 per share, of the Company.

  • Series A Preferred means the Series A Convertible Preferred Stock of the Company, par value $0.01 per share.

  • UST Preferred Stock means the Issuer’s Fixed Rate Cumulative Perpetual Preferred Stock, Series [●].