Hybrid Capital definition

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Hybrid Capital at any time, all subordinated securities, instruments or other obligations issued by the Company to the extent that such securities, instruments or other obligations (i) are accorded equity treatment by S&P at issuance and (ii) mature no earlier than the date which is six months after the Termination Date.

Hybrid Capital has the meaning given to such term in Clause 22.2 (Financial Definitions).

Examples of Hybrid Capital in a sentence

Not permit the ratio of (A) Unencumbered Assets to (B) the aggregate outstanding principal amount of the Company’s consolidated unsecured Financial Indebtedness minus, to the extent included in Financial Indebtedness, the aggregate amount outstanding of Hybrid Capital Securities, in each case on the last day of any quarter of any fiscal year of the Company to be less than 135%.
The Company agrees that if Payments stated to be payable on any date have not been made on the Company’s preference shares or any other Parity Securities, then it will defer Payments on the ING Perpetual Hybrid Capital Securities payable on such date, unless a Mandatory Interest Payment is due.
The Trustee shall not be accountable for the use or application by the Company of the ING Perpetual Hybrid Capital Securities or the proceeds thereof.
Upon the Company’s Winding Up, Holders of the ING Perpetual Hybrid Capital Security shall be deemed to have waived their right to payment of any Required Deferral Interest Payment pursuant to Section 2.04(e) and any Additional Interest in respect thereof.
Any such payment shall be made on the assumption that the amount that such Holder was entitled to receive in respect of each Notional Preference Share on a return of Assets upon such liquidation was an amount equal to the principal amount of $25.00 of the relevant ING Perpetual Hybrid Capital Security, and any Interest Payment thereon and on any Deferred Interest, other than any Required Deferral Interest Payment with due observance, for the avoidance of doubt, of Section 6.01.

More Definitions of Hybrid Capital

Hybrid Capital. “hybrid capital” instruments issued to GMAC on the Closing Date on terms reasonably acceptable to the Arrangers in an aggregate liquidation amount of $250,000,000.

Hybrid Capital means any security that affords equity benefit to the issuer thereof (under the procedures and guidelines of S&P) by having ongoing payment requirements that are more flexible than interest payments associated with conventional indebtedness for borrowed money and by being contractually subordinated to such indebtedness. For the avoidance of doubt, Holding’s Junior Subordinated Deferrable Debentures constitute Hybrid Capital. “Indebtedness” of any Person means, without duplication, (a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person, (d) all obligations of such Person in respect of the deferred purchase price of property or services (excluding current ordinary course trade accounts payable deferred compensation and any purchase price adjustment, earnout, contingent payment or deferred payment of a similar nature incurred in connection with an acquisition), (e) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, provided that the amount of Indebtedness of such Person shall be the lesser of (i) the fair market value of such property at such date of determination (determined in good faith by the Borrower) and (ii) the amount of such Indebtedness of such other Person, (f) all Guarantees by such Person of Indebtedness of others, (g) all Capital Lease Obligations of such Person, (h) all obligations (or to the extent netting is permitted under the applicable agreement governing such Capital Markets Products and such netting is limited with respect to the counterparty or counterparties of such agreement, all net termination obligations) of such Person under transactions in Capital Markets Products and (i) all reimbursement obligations of such Person in respect of letters of credit, letters of guaranty, bankers’ acceptances and similar credit transactions;

Hybrid Capital means securities treated as hybrid capital by S&P, Moody's or AM Best Company.

Hybrid Capital means, at any time, all securities, instruments or other obligations issued by XL Group or its Subsidiaries to the extent that such securities, instruments or other obligations (i) qualify for equity treatment by S&P and (ii) mature (to the extent not perpetual) no earlier than the date that is ninety-one (91) days after the Commitment Termination Date.

Hybrid Capital means, at any time, all Debt Hybrid Capital and Equity Hybrid Capital.

Hybrid Capital means any security that is accorded equity treatment under the procedures and guidelines of S&P or ▇▇▇▇▇’▇ at the time of issuance thereof.

Hybrid Capital means any security that affords equity benefit to the issuer thereof (under the procedures and guidelines of the S&P) by having ongoing payment requirements that are more flexible than interest payments associated with conventional indebtedness for borrowed money and by being contractually subordinated to such indebtedness. For the avoidance of doubt, the Company’s Junior Subordinated Deferrable Debentures constitute Hybrid Capital. “Indebtedness” of any Person means, without duplication, (a) all obligations of such Person for borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person, (d) all obligations of such Person in respect of the deferred purchase price of property or services (excluding current ordinary course trade accounts payable deferred compensation and any purchase price adjustment, earnout, contingent payment or deferred payment of a similar nature incurred in connection with an acquisition), (e) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, provided that the amount of Indebtedness of such Person shall be the lesser of (i) the fair market value of such property at such date of determination (determined