New Trust Preferred Securities definition

New Trust Preferred Securities means, in the event the Depositor elects to remarket the Notes in the form of trust preferred securities pursuant to Section 5.2(d) of the Indenture Supplement, trust preferred securities issued by a Delaware statutory trust, all of the common securities of which are directly or indirectly owned by the Depositor.
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Examples of New Trust Preferred Securities in a sentence

  • This Guarantee Agreement will not be discharged except by payment of the Guarantee Payments in full (without duplication of amounts theretofore paid by the Issuer Trust) or upon the distribution of Notes to Holders as provided in the Trust Agreement (or, if the Company elects to remarket the Notes in the form of New Trust Preferred Securities pursuant to Section 5.2(d) of the Indenture Supplement, such New Trust Preferred Securities).

  • If the Notes are remarketed in the form of New Trust Preferred Securities, the Company shall execute and deliver to the Trustee for authentication a Note in the principal amount equal to the principal amount of the Remarketed Notes plus the liquidation amount of the common securities of the New Trust.

  • This Guarantee Agreement will not be discharged except by payment of the Guarantee Payments in full (without duplication of amounts theretofore paid by the Issuer Trust) or upon the distribution of Notes to Holders as provided in the Trust Agreement (or, if the Company elects to remarket the Notes in the form of New Trust Preferred Securities pursuant to Section 4.2(d) of the Indenture Supplement, such New Trust Preferred Securities).

  • This Guarantee Agreement will not be discharged except by payment of the Guarantee Payments in full (without duplication of amounts theretofore paid by the Issuer Trust) or upon the distribution of Notes to Holders as provided in the Trust Agreement (or, if the Company elects to remarket the Notes in the form of New Trust Preferred Securities pursuant to Section 3.2(f) of the Indenture Supplement, such New Trust Preferred Securities).

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

  • Upon the effectiveness of this Supplement, the term “Securities” as defined in the Replacement Capital Covenant shall include the New Trust Preferred Securities.

  • This Guarantee Agreement will not be discharged except by payment of the Guarantee Payments in full (without duplication of amounts theretofore paid by the Issuer Trust) or upon the distribution of Notes to Holders as provided in the Trust Agreement (or, if the Company elects to remarket the Notes in the form of New Trust Preferred Securities pursuant to Section 4.2(f) of the Indenture Supplement, such New Trust Preferred Securities).

  • If, however, New Trust Preferred Securities are to be delivered to, or are to be issued in the name of, any person other than the registered holder of the Old Trust Preferred Securities tendered, or if a transfer tax is imposed for any reason other than the exchange of Old Trust Preferred Securities in connection with the Exchange Offer, then the amount of any such transfer tax (whether imposed on the registered holder or any other persons) will be payable by the tendering holder.

Related to New Trust Preferred Securities

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

  • Preferred Securities has the meaning specified in the first recital of this Indenture.

  • Capital Securities means undivided beneficial interests in the assets of the Trust which rank pari passu with Common Securities issued by the Trust; provided, however, that upon the occurrence and continuance of an Event of Default (as defined in the Declaration), the rights of holders of such Common Securities to payment in respect of distributions and payments upon liquidation, redemption and otherwise are subordinated to the rights of holders of such Capital 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:

  • Trust Securities means the Common Securities and the Capital Securities.

  • Common Securities means the securities representing common undivided beneficial interests in the assets of the Issuer.

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

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

  • Book-Entry Preferred Securities Certificates means a beneficial interest in the Preferred Securities Certificates, ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 5.11.

  • Series D Notes is defined in Section 1.

  • Series A Debentures means the 8.675% Series A Junior Subordinated Deferrable Interest Debentures due February 1, 2027 of the Debenture Issuer issued pursuant to the Indenture.

  • Definitive Preferred Securities Certificates means Preferred Securities issued in certificated, fully registered form that are not Global Preferred Securities.

  • Series A Securities means the Company's Series A 9 3/8% Junior Subordinated Deferrable Interest Debentures due May 1, 2028 as authenticated and issued under this Indenture.

  • Class B Preferred Shares means class B preferred shares of Pembina;

  • Capital Securities Guarantee Trustee means The Bank of New York, a New York banking corporation, until a Successor Capital Securities Guarantee Trustee has been appointed and has accepted such appointment pursuant to the terms of this Capital Securities Guarantee and thereafter means each such Successor Capital Securities Guarantee Trustee.

  • Preferred Securities Certificate means a certificate evidencing ownership of Preferred Securities, substantially in the form attached as Exhibit C.

  • Preferred Security means an undivided beneficial interest in the assets of the Trust, having a Liquidation Amount of $1,000 and having the rights provided therefor in this Trust Agreement.

  • Preferred Securities Guarantee means any guarantee that the Company may enter into with the Trustee or other Persons that operates directly or indirectly for the benefit of holders of Preferred Securities.

  • 2029 Notes has the meaning specified in the recitals of this Supplemental Indenture.

  • Hybrid Preferred Securities Subsidiary means any Delaware business trust (or similar entity) (i) all of the common equity interest of which is owned (either directly or indirectly through one or more wholly-owned Subsidiaries of the Company) at all times by the Company or a wholly-owned direct or indirect Subsidiary of the Company, (ii) that has been formed for the purpose of issuing Hybrid Preferred Securities and (iii) substantially all of the assets of which consist at all times solely of Junior Subordinated Debt issued by the Company or a wholly-owned direct or indirect Subsidiary of the Company (as the case may be) and payments made from time to time on such Junior Subordinated Debt.

  • Class B Preferred Stock means the Class B preferred stock, nominal value $1,000, of the Company.

  • Series C Notes is defined in Section 1.

  • MAC Notes The Classes of Modifiable And Combinable STACR® Notes shown on

  • Debentures has the meaning stated in the first recital of this Indenture.

  • Successor Capital Securities Guarantee Trustee means a successor Capital Securities Guarantee Trustee possessing the qualifications to act as Capital Securities Guarantee Trustee under Section 4.1.