Pledged Trust Preferred Securities definition

Pledged Trust Preferred Securities has the meaning set forth in Section 1.01(e) of the Pledge Agreement.
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Pledged Trust Preferred Securities has the meaning specified in Section 2.1 hereof.
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Pledged Trust Preferred Securities means the Pledged Series A Trust Preferred Securities and the Pledged Series B Trust Preferred Securities.
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Examples of Pledged Trust Preferred Securities in a sentence

  • So long as the Purchase Contract Agent is the registered owner of the Pledged Trust Preferred Securities or Pledged Treasury Consideration, it shall receive all payments thereon.

  • Upon receipt of the Treasury Securities described in clauses (1) and (2) above and the instruction described in clause (3) above, in accordance with the terms of the Pledge Agreement, the Collateral Agent will cause the Securities Intermediary to effect the release of such Pledged Trust Preferred Securities from the Pledge and the transfer of such Trust Preferred Securities to the Stock Purchase Contract Agent on behalf of the Holder free and clear of the Company's security interest therein.

  • Without limiting the generality of the foregoing, such remedies may include, to the extent permitted by applicable law, (i) retention of the Pledged Trust Preferred Securities or other Collateral in full satisfaction of the Holders' obligations under the Purchase Contracts or (ii) sale of the Pledged Trust Preferred Securities or other Collateral in one or more public or private sales at the written direction of the Company.

  • The Custodial Agent shall hold Separate Trust Preferred Securities in an account separate from the Collateral Account in which the Pledged Trust Preferred Securities (as defined in the Pledge Agreement) shall be held.

  • Purchase Contracts by a Holder of the related Common Equity Units, the Pledged Trust Preferred Securities shall be released from the Pledge as provided in the Pledge Agreement and the Holder shall be entitled to receive a number of newly issued or treasury shares of Common Stock adjusted in the same manner and at the same time as the Settlement Rate is adjusted (the "EARLY SETTLEMENT RATE").

  • If by the Stock Purchase Date the Remarketing Agent has failed to remarket the Trust Preferred Securities at 100.25% of the Remarketing Value (as described in the Purchase Contract Agreement), the Remarketing Agent shall advise the Collateral Agent in writing that it cannot remarket the related Pledged Trust Preferred Securities of such Holders of Normal Units.

  • Thereafter, the Collateral Agent shall have such security interests, rights and obligations with respect to such Notes as it had in respect of the Pledged Trust Preferred Securities as provided in Articles II, III, IV, V and VI hereof, and any reference herein to the Trust Preferred Securities or Pledged Trust Preferred Securities shall be deemed to be referring to such Notes.

  • Without limiting the generality of the foregoing, such remedies may include, to the extent permitted by applicable law, (1) retention of the Pledged Trust Preferred Securities or the Pledged Treasury Securities in full satisfaction of the Holders' obligations under the Stock Purchase Contracts and the Stock Purchase Contract Agreement or (2) sale of the Pledged Trust Preferred Securities or the Pledged Treasury Securities in one or more public or private sales.

  • Following a Termination Event, the Collateral Agent shall transfer all payments of liquidation amounts or principal it receives, if any, in respect of (1) the Pledged Trust Preferred Securities and (2) the Pledged Treasury Securities, to the Stock Purchase Contract Agent for the benefit of the applicable Holders for distribution to such Holders in accordance with their respective interests, free and clear of the Pledge created hereby.

  • The Collateral Agent shall, by 11:00 a.m., New York City time, on the Business Day immediately preceding an applicable Remarketing Date, notify the Remarketing Agent of the aggregate liquidation amount of the applicable series of Pledged Trust Preferred Securities that are to be remarketed and without any instruction from any Holder of Normal Common Equity Units, present the related Pledged Trust Preferred Securities of the applicable series to the Remarketing Agent for Remarketing.


More Definitions of Pledged Trust Preferred Securities

Pledged Trust Preferred Securities means Trust Preferred Securities and Security Entitlements with respect thereto from time to time credited to the Collateral Account and not then released from the Pledge.
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Pledged Trust Preferred Securities has the meaning specified in Section 1.1(e) of the Collateral Agreement.
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Pledged Trust Preferred Securities shall have the meaning set forth in the Trust Agreement.
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Pledged Trust Preferred Securities has the meaning specified in ----------------------------------
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Related to Pledged 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.

  • 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.

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

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

  • 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.

  • Pledged Debt Securities has the meaning assigned to such term in Section 3.01.

  • 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.

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

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

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

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

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

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

  • Book-Entry Preferred Security means a Preferred Security, the ownership and transfers of which shall be made through book entries by a Depositary.

  • Preferred Security Beneficial Owner means, with respect to a Book Entry Interest, a Person who is the beneficial owner of such Book Entry Interest, as reflected on the books of the Clearing Agency, or on the books of a Person maintaining an account with such Clearing Agency (directly as a Clearing Agency Participant or as an indirect participant, in each case in accordance with the rules of such Clearing Agency).

  • 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.

  • Preferred Security Certificate means a certificate representing a Preferred Security substantially in the form of Exhibit A-1.

  • Covered Securities means any note, stock, treasury stock, security future, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security (including a certificate of deposit) or on any group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a "security", or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase any of the foregoing.

  • Non Book-Entry Capital Securities shall have the meaning set forth in Section 2.05.

  • Global Preferred Security means a Preferred Securities Certificate evidencing ownership of Book-Entry Preferred Securities.

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

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

  • Pledged Securities means any promissory notes, stock certificates or other securities now or hereafter included in the Pledged Collateral, including all certificates, instruments or other documents representing or evidencing any Pledged Collateral.