Preferred Capital Securities definition

Preferred Capital Securities means the 9½% Mandatory Redeemable Preferred Capital Securities due 2027 issued by a wholly-owned finance subsidiary trust of the Company, as the terms of which may be amended, restated, supplemented or otherwise modified in accordance with the terms of Section 7.3(K) hereof.
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Preferred Capital Securities has the meaning specified in the first recital of this Indenture.
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Preferred Capital Securities means the 9 1/2% Mandatory Redeemable Preferred Capital Securities due 2027 issued by a wholly-owned finance subsidiary trust of the Company, as the terms of which may be amended, restated, supplemented or otherwise modified in accordance with the terms of Section 7.3(K) hereof. “Prime Rate” means the rate of interest per annum publicly announced from time to time by JPMCB as its prime rate in effect at its principal office in New York City; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective. “Prior Credit Agreement” means that certain Credit Agreement, dated as of July 6, 2004, among the Company, certain Subsidiaries of the Company party thereto from time to time, the financial institutions party thereto, JPMCB (successor by merger to Bank One, NA), as administrative agent, JPMCB and Citicorp North America, Inc., as syndication agents, and ABN AMRO Bank N.V., BNP Paribas and UBS Loan Finance LLC, as co-documentation agents. “Property” of a Person means any and all property, whether real, personal, tangible, intangible, or mixed, of such Person, or other assets owned, leased or operated by such Person. “Pro Rata Share” means, with respect to any Lender, (a) with respect to Revolving Loans, L/C Obligations or Swing Line Loans or any determination of “Required Revolving Loan Lenders”, a percentage equal to a fraction the numerator of which is such Lender’s Revolving Loan Commitment and the denominator of which is the Aggregate Revolving Loan Commitment (or if the Revolving Loan Commitments have terminated or expired, the Pro Rata Shares shall be determined based upon such Lender’s share of the Revolving Credit Obligations at that time), (b) with respect to the Term Loans, a percentage equal to a fraction the numerator of which is such Lender’s outstanding principal amount of the Term Loans and the denominator of which is the aggregate outstanding amount of the Term Loans of all Lenders and (c) with respect to any reimbursement or indemnity obligation applicable to all of the Lenders or any determination of “Required Lenders”, a percentage equal to a fraction the numerator of which is the sum of such Lender’s Revolving Loan Commitment (or, if the Revolving Loan Commitments have been terminated or expired, such Lender’s share of the Revolving Credit Obligations) and such Lender’s outstanding principal amount of the Term Loans and the denominator of which is the sum of the Aggregate ...
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Examples of Preferred Capital Securities in a sentence

  • Until all such Events of Default under this Trust Agreement with respect to the Preferred Capital Securities have been so cured, waived or otherwise eliminated, to the fullest extent permitted by applicable law, the Property Trustee shall act solely on behalf of the Holders of the Preferred Capital Securities and not on behalf of the Holder of the Common Securities, and only the Holders of the Preferred Capital Securities will have the right to direct the Property Trustee to act on their behalf.

  • If a quorum is present at a meeting, an affirmative vote by the Holders of record present, in person or by proxy, holding Preferred Capital Securities representing at least a Majority in Liquidation Amount of the Preferred Capital Securities held by the Holders present, either in person or by proxy, at such meeting shall constitute the action of the Holders of Preferred Capital Securities, unless this Trust Agreement requires a greater number of affirmative votes.

  • Payments of Distributions (including any Additional Amounts) in respect of the Preferred Capital Securities shall be made by check mailed to the address of the Person entitled thereto as such address shall appear on the Securities Register or, if the Preferred Capital Securities are held by a Clearing Agency, such Distributions shall be made to the Clearing Agency in immediately available funds, which will credit the relevant accounts on the applicable Distribution Dates.

  • Every Preferred Capital Securities Certificate presented or surrendered for transfer or exchange shall (if so required by the Property Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Property Trustee and the Securities Registrar, duly executed by the Holder thereof or such Holder’s attorney duly authorized in writing.

  • Except as set forth herein, record ownership of the Global Preferred Capital Securities may be transferred, in whole or in part, only to another nominee of Depositary or to a successor of the Depository or its nominee.

  • The particular Preferred Capital Securities to be redeemed shall be selected on a pro rata basis based on their respective Liquidation Amounts not more than 60 days prior to the Redemption Date by the Property Trustee from the Outstanding Preferred Capital Securities not previously called for redemption, or if the Preferred Capital Securities are then held in the form of a Global Preferred Security in accordance with the customary procedures for the Clearing Agency.

  • Upon receipt by the Property Trustee of written notice declaring such an acceleration, or rescission and annulment thereof, by Holders of the Preferred Capital Securities, all or part of which is represented by the Global Preferred Capital Securities Certificate, a record date shall be established for determining Holders of Outstanding Preferred Capital Securities entitled to join in such notice, which record date shall be at the close of business on the day the Property Trustee receives such notice.

  • The existence of an Event of Default does not entitle the Holders of Preferred Capital Securities to accelerate the maturity thereof.

  • The Property Trustee shall promptly notify the Securities Registrar in writing of the aggregate Liquidation Amount of Preferred Capital Securities to be redeemed and the particular Preferred Capital Securities selected for redemption.

  • Any amount payable hereunder to any Holder of Preferred Capital Securities shall be reduced by the amount of any corresponding payment such Holder (or Owner) has directly received pursuant to Section 5.8 of the Indenture or Section 5.13 of this Trust Agreement.


More Definitions of Preferred Capital Securities

Preferred Capital Securities has the meaning specified in the recitals to this Guarantee Agreement.
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Related to Preferred 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.

  • 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.

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

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

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

  • Qualifying Capital Securities means securities (other than Common Stock, rights to acquire Common Stock and securities convertible into Common Stock) that, in the determination of the Corporation’s Board of Directors reasonably construing the definitions and other terms of this Replacement Capital Covenant, meet one of the following criteria:

  • Preferred Shares means shares of Series A Junior Participating Preferred Stock, par value $.01 per share, of the Company having the rights and preferences set forth in the Form of Certificate of Designations attached to this Agreement as Exhibit A.

  • Preferred Interests means, with respect to any Person, Equity Interests issued by such Person that are entitled to a preference or priority over any other Equity Interests issued by such Person upon any distribution of such Person’s property and assets, whether by dividend or upon liquidation.

  • 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.

  • Qualified Capital Interests in any Person means a class of Capital Interests other than Redeemable Capital Interests.

  • 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.

  • Preferred Units means a Partnership Interest, including the Series A Preferred Units, designated as a “Preferred Unit,” which entitles the holder thereof to a preference with respect to distributions, or as to the distribution of assets upon any Liquidation Event, over Common Units.

  • ETP Securities means the Series of ETP Securities to which these Conditions relates or, as the context may require, any or all securities issued by the Issuer under the Programme.

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

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

  • Majority in liquidation amount of the Capital Securities means Holder(s) of outstanding Capital Securities, voting together as a class, but separately from the holders of Common Securities, of more than 50% of the aggregate liquidation amount (including the stated amount that would be paid on redemption, liquidation or otherwise, plus accrued and unpaid Distributions to the date upon which the voting percentages are determined) of all Capital Securities then outstanding.

  • Subordinated Debentures means the debentures exchangeable by the Company for the Preferred Stock in accordance with the Certificate of Designations therefor.

  • Series A Junior Securities means any class or series of Partnership Interests that, with respect to distributions on such Partnership Interests and distributions upon liquidation of the Partnership, ranks junior to the Series A Preferred Units, including Common Units and Non-Voting Common Units, but excluding any Series A Parity Securities and Series A Senior Securities.

  • NIM Securities As defined in the tenth Recital to this Agreement.

  • Series C Notes is defined in Section 1.

  • Definitive Capital Securities means any Capital Securities in definitive form issued by the Trust.

  • Series D Notes is defined in Section 1.

  • Series B Securities means the 11-1/2% Senior Notes due 2007, Series B, of the Company to be issued pursuant to this Indenture in exchange for the Series A Securities pursuant to the Registered Exchange Offer and the Registration Rights Agreement.

  • Preferred Stock as applied to the Capital Stock of any corporation, means Capital Stock of any class or classes (however designated) which is preferred as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such corporation, over shares of Capital Stock of any other class of such corporation.

  • Redeemable Capital Interests in any Person means any equity security of such Person that by its terms (or by terms of any security into which it is convertible or for which it is exchangeable), or otherwise (including the passage of time or the happening of an event), is required to be redeemed, is redeemable at the option of the holder thereof in whole or in part (including by operation of a sinking fund), or is convertible or exchangeable for Debt of such Person at the option of the holder thereof, in whole or in part, at any time prior to the Stated Maturity of the Notes; provided that only the portion of such equity security that is required to be redeemed, is so convertible or exchangeable or is so redeemable at the option of the holder thereof before such date will be deemed to be Redeemable Capital Interests. Notwithstanding the preceding sentence, any equity security that would constitute Redeemable Capital Interests solely because the holders of the equity security have the right to require the Company to repurchase such equity security upon the occurrence of a change of control or an asset sale will not constitute Redeemable Capital Interests if the terms of such equity security provide that the Company may not repurchase or redeem any such equity security pursuant to such provisions unless such repurchase or redemption complies with Section 4.07 hereof. The amount of Redeemable Capital Interests deemed to be outstanding at any time for purposes of this Indenture will be the maximum amount that the Company and its Restricted Subsidiaries may become obligated to pay upon the maturity of, or pursuant to any mandatory redemption provisions of, such Redeemable Capital Interests or portion thereof, exclusive of accrued dividends.

  • Senior Securities means senior securities (as such term is defined and determined pursuant to the Investment Company Act and any orders of the SEC issued to the Borrower thereunder).