Preferred Equity Units definition

Preferred Equity Units means a series of preferred equity interests to be authorized by Rhino after the Closing Date with terms satisfactory to the Payee in its sole discretion.
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Preferred Equity Units means a security (or combination of securities) that (i) gives the holder a beneficial interest in (A) the most junior subordinated debt of the Corporation (or debt that is pari passu with the most junior subordinated debt of the Corporation), interest on which may be deferred for five years or more and, commencing with the date two years after the beginning of an interest deferral period, will be paid pursuant to an Alternative Payment Mechanism, and (B) a fractional interest in a contract to purchase Common Stock or Qualifying Non-Cumulative Preferred Stock, (ii) includes a remarketing feature pursuant to which subordinated debt of the Corporation is remarketed to new investors within five years from the date of issuance of the security or earlier in the event of an early settlement event based on (A) the capital or other applicable ratios of the Corporation or (B) the dissolution of the issuer of such Preferred Equity Units, (iii) provides for the proceeds raised in the remarketing to be used to purchase Common Stock or Qualifying Non-Cumulative Preferred Stock of the Corporation, (iv) includes an Explicit Replacement Covenant, provided that such Explicit Replacement Covenant will not include Preferred Equity Units in the definition of “replacement capital securities,” and (v) after the issuance of such Common Stock or Qualifying Non-Cumulative Preferred Stock, provides the holder of the security with a beneficial interest in such Common Stock or Qualifying Non-Cumulative Preferred Stock.
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Examples of Preferred Equity Units in a sentence

  • On December 22, 2022, AMC entered into an agreement (the “ Antara Agreement”) with Antara Capital, LP (“Antara”) to raise $110 million of new equity capital through the sale of AMC Preferred Equity Units to Antara.

  • The Proposals would allow for the full conversion of all outstanding AMC Preferred Equity Units into shares of Common Stock (the “Conversion”).

  • Also on March 14, 2023, AMC convened the Special Meeting, whereat the Proposals were approved by a majority of Common Stock and Preferred Stock, including Preferred Stock shares corresponding to uninstructed AMC Preferred Equity Units, voting together as a class.

  • Plaintiffs and Class Counsel believe that the claims asserted in the Action have merit but acknowledge that Defendants had potential defenses thereto, including that the AMC board of directors purportedly had a compelling justification for (i) issuing AMC Preferred Equity Units and (ii) taking steps to convert AMC Preferred Equity Units into shares of Common Stock.

  • Background of the Charter Amendment Proposals; Reasons for Seeking Stockholder Approval Issuance of AMC Preferred Equity Units On August 4, 2022, the Company announced that its Board declared a special dividend of one APE for each share of Common Stock outstanding at the close of business on August 15, 2022, and on August 19, 2022, the Company issued on a pro rata basis 516,820,595 APEs to holders of Common Stocks (the “Special Dividend”).

  • Under the circumstances, we caution you against investing in our AMC Preferred Equity Units, unless you are prepared to incur the risk of losing all or a substantial portion of your investment.

  • Under the terms of the AntaraAgreement, Antara agreed to vote its AMC Preferred Equity Units in favor of the Proposals at the Special Meeting.

  • Specifically, the Deposit Agreement provided in relevant part as follows: In the absence of specific instructions from Holders of Receipts, the Depositary will vote the Preferred Stock represented by the AMC Preferred Equity Units evidenced by the Receipts of such Holders proportionately with votes cast pursuant to instructions received from the other Holders.

  • In tabulating votes corresponding to AMC Preferred Equity Units (“APEs”), AMC shall separately tabulate those abstentions and votes affirmatively cast pursuant to instructions received from holders of APEs and those abstentions and votes cast on a mirrored basis pursuant to the Deposit Agreement entered into by AMC and Computershare Inc.

  • Effective as of the Effective Date, the existing Interests of Luminent shall be cancelled and Luminent shall issue both the Reorganized Equity Units and the Reorganized Preferred Equity Units and Luminent shall take such steps as are necessary to memorialize the conversion from a public to a private company.

Related to Preferred Equity Units

  • Preferred Equity means, with respect to any Person, Equity Interests in such Person which are entitled to preference or priority over any other Equity Interest in such Person in respect of the payment of dividends or distribution of assets upon liquidation or both.

  • Preferred Equity Interests means, with respect to any Person, Equity Interests in such Person which are entitled to preference or priority over any other Equity Interest in such Person in respect of the payment of dividends or distribution of assets upon liquidation or both.

  • Preferred Equity Interest in any Person, means an Equity Interest of any class or classes (however designated) which is preferred as to the payment of dividends or distributions, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over Equity Interests of any other class in such Person.

  • Preferred Units means the Series A Preferred Units and the Series B Preferred Units.

  • 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.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • 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.

  • Class B Units means the Class B Units of the Company.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Series B Preferred Units shall have the meaning provided in Section 1.

  • Subordinated Units has the meaning assigned to such term in the Partnership Agreement.

  • Class A Common Units means the Company's Class A Common Units.

  • Series A Preferred Units has the meaning assigned to such term in Section 5.11(a).

  • Common Units is defined in the Partnership Agreement.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Class B Warrants means the Common Stock purchase warrants delivered to the Purchasers at the Closing in accordance with Section 2.2(a) hereof, which Warrants shall be exercisable immediately and have a term of exercise equal to 5 years, in the form of Exhibit C attached hereto.

  • Company Units has the meaning set forth in the Recitals.

  • Junior Units means Common Units and any other equity securities that the Partnership may issue in the future ranking, as to the payment of distributions, junior to the Series A Preferred Units.

  • 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.

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.

  • Series C Preferred Units shall have the meaning provided in Section 1.

  • Class B Preferred Stock means the Class B Preferred Stock of the Company, par value $0.0001 per share.

  • Parity Units means any Partnership Securities, including Preferred Units, that the Partnership may authorize or issue, the terms of which provide that such securities shall rank equally with the Series A Preferred Units with respect to payment of distributions and distribution of assets upon a Dissolution Event.

  • Class B Interests As set forth in the Trust Agreement.

  • Series A Units means Series A currency hedged mutual fund units or Series A non-currency hedged mutual fund units of a fund, as applicable.

  • Class C Shares means the shares of Class C common stock of the Company.