High Yield Securities means debt Securities and Preferred Stock, in each case (a) issued by public or private issuers, (b) issued pursuant to an effective registration statement or pursuant to Rule 144A under the Securities Act (or any successor provision thereunder) or other exemption to the Securities Act and (c) that are not Cash Equivalents, Mezzanine Investments or Bank Loans.
High Yield Securities means debt Securities and Preferred Stock, in each case (a) issued by public or private issuers, (b) issued pursuant to an effective registration statement or pursuant to Rule 144A under the Securities Act (or any successor provision thereunder) and (c) that are not Cash Equivalents, Mezzanine Investments or Bank Loans.
High Yield Securities has the meaning assigned to such term in Section 5.13.
Examples of High Yield Securities in a sentence
Morgan Stanley High Yield Securities Inc ("High Yield Securities")* 58.
Morgan Stanley Dean Witter High Yield Securities Inc ("High Yield") 58.
High Yield Securities are generally unsecured and may be subordinate to other obligations of their issuers.
It is also likely that any such economic downturn could adversely affect the ability of the issuers of such securities to repay principal and pay interest thereon and increase the incidence of default for such securities.The Issuer may invest significantly in High Yield Securities.
While this structure is being used less frequently in Europe, it is nevertheless more common in Europe than the U.S.In the case of High Yield Securities issued by issuers with their principal place of business in Europe, structural subordination leads European High Yield Securities defaults to realise lower average recoveries than their U.S. counterparts.
More Definitions of High Yield Securities
High Yield Securities means Municipal Obligations not rated by S&P but rated equivalent to BBB or lower by another NRSRO, rated BB+ or lower by S&P or not rated.
High Yield Securities means debt Securities (other than the “in the money” component of any convertible debt Securities) (a) issued by public or private issuers, (b) issued pursuant to an effective registration statement or pursuant to Rule 144A under the Securities Act (or any successor provision thereunder), (c) that are not Cash Equivalents or Bank Loans and (d) that are not contractually subordinated in right of payment to any other indebtedness (it being understood that indebtedness will not be deemed to be subordinated in right of payment to other indebtedness solely as a result of having a junior lien on any assets).
High Yield Securities means (i) the o225,000,000 10 1/2% senior notes due 2006 and 10 1/2% senior notes due 2006, series B; (ii) the $200,000,000 10 3/8% senior notes due 2009 and the 10 3/8% senior notes due 2009, series B; (iii) the $265,000,000 11 1/2% senior notes due 2007 and the 11 1/2% senior notes due 2007, series B, (iv) the o275,000,000 11% senior notes due 2009 and 11% senior notes due 2009, series B, and (v) the o85,000,000 10 3/8% senior notes due 2006 and the 10 3/8% senior notes due 2006, series B in each case, issued by the Immediate Shareholder;
High Yield Securities means debt Securities and Preferred Equity (solely to the extent that such Preferred Equity has a maturity date or is subject to mandatory redemption on a date certain that is not greater than ten (10) years from the date of initial issuance of such Preferred Equity), in each case, (a) issued by public or private issuers, (b) issued pursuant to an effective registration statement or pursuant to Rule 144A under the Securities Act (or any successor provision thereunder) or other exemption to the Securities Act and (c) that are not Cash Equivalents, Mezzanine Investments (described under clause (i) of the definition thereof) or Bank Loans.
High Yield Securities has the meaning assigned to such term in Section 5.13. “Immaterial Subsidiaries” means those Subsidiaries of the Borrower that are designated as “Immaterial Subsidiaries” by the Borrower from time to time (it being understood that the Borrower may at any time change any such designation); provided that such designated Immaterial Subsidiaries shall collectively meet all of the following criteria as of the date of (x) the designation of each such Immaterial Subsidiary and (y) the most recent balance sheet required to be delivered pursuant to Section 5.01 (and the Borrower shall in each case deliver to the Administrative Agent a certificate of a Financial Officer to such effect setting forth reasonably detailed calculations demonstrating such compliance): (a) such Subsidiaries and their Subsidiaries do not hold any Eligible Portfolio Investment included in the Borrowing Base, (b) the aggregate assets of all such Subsidiaries and their Subsidiaries (on a consolidated basis) as of such date do not exceed an amount equal to 3% of the consolidated assets of the Borrower and its Subsidiaries as of such date; and (c) the aggregate revenues of all such Subsidiaries and their Subsidiaries (on a consolidated basis) for the fiscal quarter ending on such date do not exceed an amount equal to 3% of the consolidated revenues of the Borrower and its Subsidiaries for such period. Notwithstanding the foregoing, no Immaterial Subsidiary that is later designated as a Subsidiary Guarantor may be an Immaterial Subsidiary. “Impacted Interest Period” has the meaning assigned to such term in the definition of “Eurocurrency Rate”. “Increasing Lender” has the meaning assigned to such term in Section 2.07(e)(i). “Indebtedness” of any Person means, without duplication, (a) (i) all obligations of such Person for borrowed money or (ii) with respect to deposits, loans or advances of any kind that are required to be accounted for under GAAP as a liability on the financial statements of an Obligor (other than deposits received in connection with a Portfolio Investment in the ordinary course of the Obligor’s business (including, but not limited to, any deposits or advances in connection with expense reimbursement, prepaid agency fees, other fees, indemnification, work fees, tax distributions or purchase price adjustments)), (b) all obligations of such Person evidenced by bonds, debentures, notes or similar debt instruments, (c) all obligations of such Person under conditional sale or other t...
High Yield Securities means (a) a debt security which is a high yielding debt security as determined by the Collateral Manager, excluding any debt security which is secured directly on, or represents the ownership of, a pool of consumer receivables, auto loans, auto leases, equipment leases, home or commercial mortgages, corporate debt or sovereign debt obligations or similar assets, including, without limitation, collateralised bond obligations, collateralised loan obligations or any similar security; or (b) a Synthetic Security, the Reference Obligation applicable to which is a high-yield security of the type described in paragraph (a) above;
High Yield Securities means debt Securities and Preferred Stock, in each case