Perpetual Notes definition
Examples of Perpetual Notes in a sentence
This Condition 10(c) is applicable in relation to Perpetual Notes Guaranteed on a Subordinated Basis.
Any interest not paid in respect of Perpetual Notes Guaranteed on a Subordinated Basis on an Optional Interest Payment Date shall, so long as the same remains unpaid, constitute ‘‘Arrears of Interest’’ which term shall include interest on such unpaid interest as referred to below.
During 2022, Aldar Investment Properties LLC (a subsidiary of the Company) issued USD 500 million (AED 1,837,663 thousand) Reset Subordinated Perpetual Notes (the “Notes”) to an investor (the “Noteholder”) in two tranches.
So long as the Perpetual Notes are outstanding, the Company shall not declare or pay any dividend or make any distribution on or with respect to its capital shares; or redeem, reduce, cancel, buy-back or acquire for any consideration any of its capital shares.
The Perpetual Notes have no fixed maturity and are redeemable at the Company’s option.
Amount:* $ Day(s):** & Portfolio Name Amount:* $ Day(s):** & Portfolio Name Amount:* $ Day(s):** & *NOTE: This amount should reflect how much to contribute per Account(s) every month for each date indicated.
Fair value of the Perpetual Notes was valued by the management with the reference to a valuation report issued by an independent valuer based on the discounted cash flow method.
The payment of all principal, premium (if any), interest and Additional Amounts on the Notes shall rank senior to all obligations of the Issuer in respect of its own equity and in respect of equity (including preferred equity) that has been issued by any Guarantor or BIPIC (including pursuant to any guarantee by the Issuer of the existing equity obligations of any such other Person), and will rank pari passu with the 2081 Notes and the Issuer’s guarantee obligations in respect of the Perpetual Notes.
Php2,610 Million and Php1,590 Million Perpetual Notes Smart issued Php2,610 million and Php1,590 million perpetual notes under two Notes Facility Agreements dated March 3, 2017 and March 6, 2017, respectively.
The conformance assessment was performed using the tool betsy1 [3].