Preferred Dividend Parity Obligations. ’ means the most senior preferred or preference shares or similar securities qualifying as tier 1 capital of the Bank and all preferred or preference shares of Subsidiaries or of the Company (other than the Preferred Securities) qualifying as tier 1 capital of the Bank on a consolidated basis and entitled to the bene¢t of any guarantee,support agreement or similar undertaking of the Bank ranking pari passu with the Guarantee as regards entitlement to distributions thereunder, or all such guarantees,support agreements or contractual undertakings;

Preferred Dividend Parity Obligations means (a) the most senior preferred or preference shares or securities or other obligations qualifying as tier 1 capital of the Bank on a consolidated basis and ranking pari passu as regards entitlement to distributions thereunder with the Bank’s obligations under the Guarantee and (b) all preferred or preference shares or securities or other obligations of Subsidiaries, including of the Issuer, qualifying as tier 1 capital of the Bank on a consolidated basis and entitled to the benefit of any guarantee, support agreement or similar undertaking of the Bank in each case ranking pari passu with the Bank’s obligations under the Guarantee as regards entitlement to distributions thereunder, and any such guarantee, support agreement or other similar undertaking of the Bank;

Preferred Dividend Parity Obligations. ’ means the most senior preferred or preference shares or similar securities qualifying as tier 1 capital of the Bank and all preferred or preference shares or similar securities of Subsidiaries (other than the Preferred Securities) qualifying as tier 1 capital of the Bank on a consolidated basis and entitled to the benefit of any guarantee, support agreement or other contractual undertaking of the Bank ranking pari passu with the Guarantee as regards entitlement to distributions thereunder, or all such guarantees, support agreements or contractual undertakings (including but not limited to the Series A Preferred Securities, the Series B Preferred Securities and the Series C Preferred Securities);

Examples of Preferred Dividend Parity Obligations in a sentence

When a distribution on Preferred Dividend Parity Obligations requires pro rata payment of Preferred Dividends as described above, the amount of the required payment will be in the same proportion to the aggregate specified amount of Preferred Dividends payable on the Preferred Securities as the aggregate payment that was made on such Preferred Dividend Parity Obligations bears to the amount that was payable on such Preferred Dividend Parity Obligations at the time of such payment.

More Definitions of Preferred Dividend Parity Obligations

Preferred Dividend Parity Obligations means i) the most senior preference shares or similar securities qualifying as Tier 1 capital of the Bank (other than the Preference Shares) and ii) the preference shares or similar securities of Subsidiaries qualifying as Tier 1 capital of the Bank on a consolidated basis and

Related to Preferred Dividend Parity Obligations

Dividend Parity Stock means any class or series of stock of the Corporation that ranks on a parity with the Series E in the payment of current dividends, including the Series A, the Series B, the Series C and the Series D.
Preferred Dividends means, with respect to any Person, dividends or other distributions which are payable to holders of any Equity Interests in such Person which entitle the holders of such Equity Interests to be paid on a preferred basis prior to dividends or other distributions to the holders of other types of Equity Interests in such Person.
Parity Preferred Units shall have the meaning provided in Section 4.
Parity Stock means any class or series of stock of the Corporation (other than Designated Preferred Stock) the terms of which do not expressly provide that such class or series will rank senior or junior to Designated Preferred Stock as to dividend rights and/or as to rights on liquidation, dissolution or winding up of the Corporation (in each case without regard to whether dividends accrue cumulatively or non-cumulatively).
Preferred Stock Dividends means all dividends with respect to Preferred Stock of Restricted Subsidiaries held by Persons other than the Company or a Wholly Owned Restricted Subsidiary. The amount of any such dividend shall be equal to the quotient of such dividend divided by the difference between one and the maximum statutory federal income rate (expressed as a decimal number between 1 and 0) then applicable to the issuer of such Preferred Stock.
Class A Preferred Stock means the Class A preferred stock, nominal value $0.0001 per share, of the Company.
Special Dividend Period means a Dividend Period consisting of (i) a specified number of days (other than seven), evenly divisible by seven and not fewer than seven nor more than 364 or (ii) a specified period of one whole year or more but not greater than five years (in each case subject to adjustment as provided in paragraph 2(b)(i)).
Series C Liquidation Preference means a liquidation preference for each Series C Preferred Unit initially equal to $25.00 per unit (subject to adjustment for any splits, combinations or similar adjustments to the Series C Preferred Units), which liquidation preference shall be subject to increase by the per Series C Preferred Unit amount of any accumulated and unpaid Series C Distributions (whether or not such distributions shall have been declared).
Series B Liquidation Preference means a liquidation preference for each Series B Preferred Unit initially equal to $25.00 per unit, which liquidation preference shall be subject to increase by the per Series B Preferred Unit amount of any accumulated and unpaid Series B Distributions (whether or not such distributions shall have been declared).
Senior Non Preferred Liabilities means any unsubordinated and unsecured senior non preferred obligations (créditos ordinarios no preferentes) of Banco Santander under Additional Provision 14.2º of Law 11/2015 (including any senior non preferred debt securities) and any other obligations which, by law and/or by their terms, and to the extent permitted by Spanish law, rank pari passu with the Senior Non Preferred Liabilities.
Series A Preferred Unit means a Preferred Unit having the designations, preferences, rights, powers and duties set forth in Article XVI.
Safe Preferred Stock means the shares of the series of Preferred Stock issued to the Investor in an Equity Financing, having the identical rights, privileges, preferences and restrictions as the shares of Standard Preferred Stock, other than with respect to: (i) the per share liquidation preference and the initial conversion price for purposes of price-based anti-dilution protection, which will equal the Conversion Price; and (ii) the basis for any dividend rights, which will be based on the Conversion Price.
Long Term Dividend Period means a Special Dividend Period consisting of a specified period of one whole year or more but not greater than five years.
Series C Preferred Units shall have the meaning provided in Section 1.
Equivalent Preferred Stock shall have the meaning set forth in Section 11(b) hereof.
Parity Obligations means (i) all obligations of the Issuer in respect of Tier 1 Instruments (excluding any such obligations that rank, or are expressed to rank, junior to claims in respect of the Notes), and (ii) any other securities or obligations (including, without limitation, any guarantee, credit support agreement or similar undertaking) of the Issuer that rank, or are expressed to rank, pari passu with claims in respect of the Notes and/or any Parity Obligation.
Series A Preferred Units has the meaning assigned to such term in Section 5.11(a).
Series G Preferred Stock means shares of the Company’s Series G Preferred Stock, par value $0.0001 per share.
Permitted Preferred Stock means and refers to any Preferred Stock issued by Parent (and not by one or more of its Subsidiaries) that is not Prohibited Preferred Stock.
Dividend Period means the Initial Dividend Period, any 7-Day Dividend Period and any Special Dividend Period.
Series H Preferred Stock means shares of the Company’s Series H Preferred Stock, par value $0.0001 per share.
Preferred Unit means a fractional, undivided share of the Partnership Interests that has distribution rights, or rights upon liquidation, winding up and dissolution, that are superior or prior to the Common Units that the General Partner has authorized pursuant to Section 4.2 hereof.
Existing Preferred Stock means, collectively, the outstanding shares of the Series E 6% Convertible Preferred Stock of the Corporation.
Annual Fixed Dividend Rate means, for any Subsequent Fixed Rate Period, the annual rate (expressed as a percentage rate rounded down to the nearest one hundred-thousandth of one percent (with 0.000005% being rounded up)) equal to the sum of the Government of Canada Yield on the applicable Fixed Rate Calculation Date plus 2.16%.
Series A Liquidation Preference means a liquidation preference for each Series A Preferred Unit initially equal to $1,000 per unit (subject to adjustment for any splits, combinations or similar adjustments to the Series A Preferred Units), which liquidation preference shall be subject to increase by the per Series A Preferred Unit amount of any accumulated and unpaid Series A Distributions (whether or not such distributions shall have been declared).
Company Series A Preferred Stock means the Series A Preferred Stock, par value $0.0001 per share, of the Company.

Preferred Dividend Parity Obligations definition

Related Definitions

Related to Preferred Dividend Parity Obligations