Initial Capital Securities definition

Initial Capital Securities means the Capital Securities issued on the First Issue Date.

Initial Capital Securities has the meaning set forth in Section 7.1(a).

Initial Capital Securities has the meaning specified in Section 7.1(a).

Examples of Initial Capital Securities in a sentence

• The purchase price per security to be paid by the several Underwriters for the Initial Capital Securities shall be an amount equal to the initial public offering price.

• Payment shall be made to the Trust by wire transfer or certified or official bank check or similar same day funds payable to the order of the Trust to an account designated by the Trust, against delivery to the Representative for the respective accounts of the Underwriters of certificates for the Initial Capital Securities to be purchased by them.

• If the Option is exercised as to all or any portion of the Option Capital Securities, the Option Capital Securities as to which the Option is exercised shall be purchased by the Underwriters, severally and not jointly, in proportion to, as nearly as practicable, their respective Initial Capital Securities underwriting obligations as set forth on Schedule A.

• As compensation to the Underwriters for their commitments hereunder and in view of the fact that the proceeds of the sale of the Initial Capital Securities will be used to purchase the Junior Subordinated Notes of the Company, the Company hereby agrees to pay at the Closing Time to the Underwriters, a commission per Initial Capital Security determined by agreement between the Representative and the Company for the Initial Capital Securities to be delivered by the Trust hereunder at the Closing Time.

• Unless otherwise agreed, certificates for the Initial Capital Securities shall be in the form set forth in the Declaration, and such certificates shall be deposited with a custodian (the "Custodian") for The Depository Trust Company ("DTC") and registered in the name of Cede & Co., as nominee for DTC.

More Definitions of Initial Capital Securities

Initial Capital Securities means 7.701% Capital Securities (liquidation amount $1,000 per Security) of the Trust issued at the Closing Time.

Initial Capital Securities has the meaning specified in the second paragraph of this Agreement.

Initial Capital Securities means 8.82% Subordinated Capital Income Securities (liquidation amount $1,000 per security) of Trenwick Capital Trust, as initially issued under the Declaration.

Initial Capital Securities means 8.82% Subordinated Capital Income Securities (liquidation amount $1,000 per security) of the Trust issued on the Closing Date.

Initial Capital Securities means the 9.58% Capital Securities, Series A, of the Trust issued on the date hereof, each representing an undivided beneficial interest in the assets of the Trust, having a Liquidation Amount of $1,000 per Capital Security and having the rights provided therefor in this Declaration of Trust, including the right to receive Distributions and a Liquidation Distribution.

Initial Capital Securities means 8.73% Capital Securities (liquidation amount $1,000 per security) of Orion Capital Trust I.

Initial Capital Securities has the meaning specified in the Recitals to the Exchange Guarantee Agreement.