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

  • We bring to your attention, however, that the holders of the Exchange Preferred Securities may be obligated, pursuant to the Declaration, to (i) provide indemnity and/or security in connection with, and pay taxes or governmental charges arising from, transfers of Exchange Preferred Securities and (ii) provide security and indemnity in connection with the requests of, or directions to, the Institutional Trustee to exercise its rights and powers under the Declaration.

  • Neither the exchange of the Restricted Preferred Securities for Exchange Preferred Securities by the Company, the execution by the Bank and the Company of the Documents or the Guarantee, nor the consummation of any of the other transactions contemplated therein will conflict with, result in a breach of, or constitute a default under the charter or by-laws of the Company and the Bank.

  • No filing or registration of the Prospectus of any other prospectus or circular is necessary under Spanish Law in connection with the issuance of the Existing Preferred Securities and the Guarantee and the exchange of the Restricted Preferred Securities for Exchange Preferred Securities pursuant to the terms of the Prospectus.

  • 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.

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

  • That the Exchange Preferred Securities shall remain quoted in the London Stock Exchange after their registration and until their complete liquidation; and that the Issuer and the Guarantor shall provide all information, data and supplements which may be required to maintain the Offering Circular registered with the relevant authorities of the United Kingdom for the purposes of article 13.5 of the Directive 2003/71/EC.

  • 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.

  • Except as set forth above, we express no opinion to any party as to any tax consequences, whether federal, state, local or foreign, of the Exchange Preferred Securities or of any transaction related thereto.

  • The Exchange Preferred Securities will represent valid and, subject to the qualifications set forth in paragraph 3 below, fully paid and nonassessable undivided beneficial interests in the assets of the Trust.

  • 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.

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 of the Company, par value $0.0001 per share.

  • Series A Preferred means the Series A preferred stock, $.01 par value per share, of the Company.

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