Refinancing Preferred Stock means preferred Equity Interests of the Borrower that (a) are unsecured and do not prohibit the repayment or prepayment of any Obligations, (b) do not have a maturity date or other mandatory redemption date that is on or earlier than the date one year after the Revolving Credit Maturity Date, (c) do not have any sinking fund payments, scheduled dividend payments, or mandatory redemption obligations (other than customary redemption provisions in connection with changes in control that also constitute an Event of Default hereunder or certain asset dispositions) that are due on or prior to the date one year after the Revolving Credit Maturity Date, (d) do not impose representations, warranties, covenants, conditions, mandatory prepayments, events of default, remedies or other provisions similar to the foregoing that are materially more restrictive or burdensome as a whole than the terms and provisions of the Indenture for the 2024 Senior Notes as in effect on the Effective Date, (e) do not impose any representation, warranty, covenant, condition, mandatory prepayment, event of default, remedy or other provision similar to the foregoing that is more restrictive or burdensome than the comparable terms and provisions of this Agreement, (f) do not impose a cash dividend rate that exceeds a rate equal to 10% per annum, and (g) permit the Borrower to defer payment of cash dividends thereon in the Borrower’s discretion.
Refinancing Preferred Stock means any preferred stock of the Company issued in exchange for, or the net proceeds of which are used to extend, refinance, renew, replace or refund other preferred stock of the Company; provided that:
Refinancing Preferred Stock means Qualified Equity Interests, issued in a public or private offering, which have been designated by a Financial Officer in an officer’s certificate as “Refinancing Preferred Stock” and the net cash proceeds of which are applied within 45 days of the receipt thereof to the prepayment of outstanding Interim Loans or the redemption or repurchase of Exchange Notes.
Examples of Refinancing Preferred Stock in a sentence
In the event and on each occasion that any Net Proceeds are received by or on behalf of the Borrower or any Guarantor in respect of any Senior Unsecured Debt or Refinancing Preferred Stock issued by the Borrower or such Guarantor, the Borrower shall, promptly after such Net Proceeds are received by the Borrower or any Guarantor, prepay the Obligations as set forth in Section 7.06 below in an aggregate amount equal to such Net Proceeds.
The Corporation shall pay dividends in cash on the Convertible Preferred Stock on each Dividend Payment Date unless (1) the Board determines that the Corporation does not have legally available assets for such payment or (2) such dividend payment would result in a default under the Senior Credit Agreement or in the Convertible Preferred Stock failing to qualify as "Permitted Refinancing Preferred Stock", as defined on the Issue Date, for purposes of the Senior Credit Agreement.
More Definitions of Refinancing Preferred Stock
Refinancing Preferred Stock means Preferred Stock issued by TNCL or --------------------------- a Financing Subsidiary thereof to refinance the Exchangeable Preferred Stock and secured by or exchangeable into all or part of the ordinary shares of Xxxxxxx plc identified on Part V of Schedule 3.
Refinancing Preferred Stock means any Preferred Stock of Mirant issued in exchange for, or the net proceeds of which are used to extend, refinance, renew, replace or refund other Preferred Stock of Mirant; provided that:
Refinancing Preferred Stock means preferred Equity Interests of the Borrower that (a) are unsecured and do not prohibit the repayment or prepayment of any Obligations, (b) do not have a maturity date or other mandatory redemption date that is on or earlier than the date two years after the latest Maturity Date, (c) do not have any sinking fund payments, scheduled dividend payments, or mandatory redemption obligations (other than customary redemption provisions in connection with changes in control that also constitute an Event of Default hereunder or certain asset dispositions resulting in a redetermination of the Borrowing Base under the First Lien Credit Agreement) that are due on or prior to the date two years after the latest Maturity Date, (d) do not impose any representation, warranty, covenant, condition, mandatory prepayment, event of default, remedy or other provision similar to the foregoing that is more restrictive or burdensome than the comparable terms and provisions of this Agreement, (e) do not impose a cash dividend rate that exceeds ten percent (10.00%) per annum, and (f) which permit the Borrower to defer payment of cash dividends thereon in the Borrower’s discretion.
Refinancing Preferred Stock means 2,139,000 shares of the Company’s mandatorily convertible preferred stock issued on November 19, 2007.
Refinancing Preferred Stock means preferred Equity Interests issued by Holdings for the purpose of redeeming outstanding Existing Preferred Stock or previously issued Refinancing Preferred Stock, in either case that shall (a) not require cash dividends to be paid, (b) not be mandatorily redeemable, (c) be subordinate to the Obligations, and (d) have other terms and conditions no less favorable to the Lenders than the terms and conditions of the Existing Preferred Stock.
Refinancing Preferred Stock means 2,139,000 shares of the Company’s mandatorily convertible preferred stock issued on November 19, 2007. “Register” has the meaning set forth in Section 9.04.
Refinancing Preferred Stock means any Preferred Equity Interests (which may constitute Disqualified Capital Stock to the extent the issuance thereof is permitted by Section 6.01 and may otherwise require the payment of cash dividends to the extent the issuance thereof complies with the requirements set forth in the proviso to the definition of the term “Disqualified Capital Stock”) issued after the Restatement Date the proceeds of which are used to redeem or otherwise refinance the Existing Preferred Stock (or any series thereof); provided that the aggregate liquidation preference of such Refinancing Preferred Stock does not exceed the aggregate accreted liquidation preference of the Existing Preferred Stock being so redeemed or otherwise refinanced (plus underwriting discounts or commissions and other fees and expenses in connection therewith, including any redemption premium paid in connection with such redemption or other refinancing).