Preferred Trust Securities definition

Preferred Trust Securities means any preferred trust interests issued by a Trust or similar securities issued by permitted successors to such Trust in accordance with the Trust Agreement pertaining to such Trust

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Preferred Trust Securities has the meaning specified in Section 8.01 of the Trust Agreement.

Preferred Trust Securities means the Preferred Trust Securities of a Trust, representing undivided beneficial interests in the assets of such Trust.

Examples of Preferred Trust Securities in a sentence

• The ownership of Preferred Trust Securities shall be proved by the Securities Register.

• For all purposes of this Trust Agreement, unless the context otherwise requires, all provisions relating to the redemption of Preferred Trust Securities shall relate, in the case of any Preferred Trust Securities redeemed or to be redeemed only in part, to the portion of the Liquidation Amount of Preferred Trust Securities which has been or is to be redeemed.

• No service charge shall be made for any registration of transfer or exchange of Preferred Trust Securities Certificates, but the Transfer Agent and Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer or exchange of Preferred Trust Securities Certificates.

• Any amount payable hereunder to any Holder of Preferred Trust Securities shall be reduced by the amount of any corresponding payment such Holder has directly received pursuant to Section 808 of the Subordinated Indenture.

• The Preferred Trust Securities shall have no preemptive or similar rights and when issued and delivered to Securityholders against payment of the purchase price therefor will be fully paid and nonassessable undivided beneficial interests in the assets of the Trust.

• At the option of a Holder, Preferred Trust Securities Certificates may be exchanged for other Preferred Trust Securities Certificates in authorized denominations of the same class and of a like aggregate Liquidation Amount upon surrender of the Preferred Trust Securities Certificates to be exchanged at the office or agency maintained pursuant to Section 5.08.

• Every Preferred Trust Securities Certificate presented or surrendered for registration of transfer or exchange shall be accompanied by a written instrument of transfer in form satisfactory to the Administrative Trustees and the Transfer Agent and Registrar duly executed by the Holder or such Holder's attorney duly authorized in writing.

• The Depositor and the Trustees covenant and agree to meet the requirements of a Securities Depository for the Preferred Trust Securities with respect to required notices and other provisions of the letter of representations or agreement executed with respect to such Preferred Trust Securities.

• This Guarantee Agreement is solely for the benefit of the Holders and, subject to Section 3.01(a), is not separately transferable from the Preferred Trust Securities.

• Any provisions hereof permitting or requiring delivery of such Preferred Trust Securities shall, while such Preferred Trust Securities are in a book-entry system, be satisfied by the notation on the books of the Securities Depository in accordance with applicable state law.

More Definitions of Preferred Trust Securities

Preferred Trust Securities means the 9.75% Trust Originated Preferred Securities issued by the Trust.

Preferred Trust Securities. Designation: Number of Preferred Trust Securities: Aggregate Liquidation Amount: $ Public Offering Price: $ Underwriting Discount: $ Purchase Price: $ Dealers' Concession: $ Closing Date, Time and Location:________, 200__ at the offices of Thelen Reid & Priest LL▇, ▇▇▇ ▇▇▇▇d Avenue, New York, ▇▇▇ ▇▇▇▇ ▇▇ ____ ▇.▇.

Preferred Trust Securities means Cinergy’s 6.9% preferred trust securities, due February 2007, or any other preferred trust securities issued on terms substantially similar thereto; provided that the amount of any such preferred trust securities issued and outstanding until the Termination Date may not exceed $500,000,000 in the aggregate at any time.

Preferred Trust Securities. Aggregate Liquidation Amount: $ Public Offering Price: $ Underwriting Discount: $ Purchase Price: $ Dealers' Concession: $ Closing Date, Time and Location:________, 200__ at the offices of Thelen Reid & Priest LL▇, ▇▇▇ ▇▇▇▇d Avenue, New York, ▇▇▇ ▇▇▇▇ ▇▇ ____ ▇.▇.

Preferred Trust Securities. Designation: Number of Preferred Trust Securities: Aggregate Liquidation Amount: $ Public Offering Price: $ Underwriting Discount: $ Purchase Price: $ Dealers' Concession: $ Closing Date, Time and Location: ________, 200__ at the offices of Thelen Reid & Priest LLP, 875 Third Avenue, New Yo▇▇, ▇▇▇ ▇▇▇k at ____ a.m. FPL Group [/1/Cap▇▇▇▇] ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇: Designation: Principal Amount: Date of Maturity: Interest Rate: SCHEDULE II Number of Preferred Trust Underwriter Securities ----------- --------------- Total......................................... =============== SCHEDULE III [LETTERHEAD OF STEEL HECTOR & DAVIS LLP] [▇▇te] as Representatives of the Underwriters named in Schedule II to the Agreement, as herein described Ladies and Gentlemen: We have acted as counsel to FPL Group, Inc. ("FPL Group") [, /1/FPL Group Capital Inc ("FPL Group Capital")] and FPL Group [Capital] Trust __ ("Trust") in connection with (a) the authorization and issuance (i) by the Trust of $_____ aggregate liquidation amount of its Preferred Trust Securities (the "Preferred Trust Securities"), (ii) by FPL Group [/1/Capital] of $_________ aggregate principal amount of its Junior Subordinated Debentures, Series due __________ (the "Junior Subordinated Debentures"), issued under the Indenture (For Unsecured Subordinated Debentures relating to Trust Securities), dated as of [/1/March 1, 2004] [/2/_____________] (the "Subordinated Indenture"), [/2/between] [/1/among] FPL Group [/1/Capital], as issuer, [/1/FPL Group, as guarantor,] and The Bank of New York, as Subordinated Indenture Trustee, and (iii) the guarantee by FPL Group on a subordinated basis of [/1/(x) the Junior Subordinated Debentures ("Subordinated Debenture Guarantee") pursuant to the terms of the Subordinated Indenture and (y)] the Preferred Trust Securities (the "Preferred Trust Securities Guarantee," [/1/and together with the Subordinated Debenture Guarantee, the "Subordinated Guarantees"]), pursuant to the Preferred Trust Securities Guarantee Agreement, dated as of __________ (the "Preferred Trust Securities Guarantee Agreement"), between FPL Group, as guarantor, and The Bank of New York, as Preferred Trust Securities Guarantee Trustee, and (b) the sale of the Preferred Trust Securities to you in accordance with the Underwriting Agreement, dated __________ (the "Agreement"), among you, FPL Group[, 1FPL Group Capital] and the Trust. Capitalized terms used in this opinion but not defined shall have the meanings s...