Senior Subordinated Security definition
Examples of Senior Subordinated Security in a sentence
This Senior Subordinated Security is a single series note with a face value in aggregate principal amount as set forth on the front of this Senior Subordinated Security.
Each Holder of this Senior Subordinated Security, by accepting the same agrees to and shall be bound by such provisions of the Agreement.
The provisions of this Senior Subordinated Security are continued on the reverse side hereof and such provisions shall for all purposes have the same effect as though fully set forth at this place.
The following abbreviations, when used in the inscription on the face of this Senior Subordinated Security, shall be construed as though they were written out in full according to applicable laws or regulations: TEN CON – as tenants in common TEN ENT – as tenants in the entireties JT TEN – as joint tenants with right of survival UNIF GIFT MIN ACT – under Uniform Gift to Minors Act and not as tenants Additional abbreviations may also be used though not in the above list.
The interest installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will be paid to the person in whose name this Senior Subordinated Security is registered at the close of business on the regular record date for such installment of interest, which date shall be at the close of business on the 1st calendar day (whether or not a business day) of the month in which each Interest Payment Date occurs (each such date, the “Regular Record Date”).
All notices to the Holders of Senior Subordinated Securities shall be delivered in writing, mailed first-class postage prepaid, to each Holder of a Senior Subordinated Security at the address of such Holder as it appears in the Senior Subordinated Securities Register.
The Senior Subordinated Security shall be substantially in the form of Annex A hereto, the terms of which are incorporated in and made a part of this Agreement.
Every Senior Subordinated Security shall be dated the date of its execution and delivery.
If less than the full aggregate principal amount of any Senior Subordinated Security is redeemed, the Credit Union shall issue a new Senior Subordinated Security in the unredeemed aggregate principal amount thereof without charge to the Holder thereof.
Any such consent or waiver by the Holder of this Senior Subordinated Security shall be conclusive and binding upon such Holder and upon all future Holders of this Senior Subordinated Security and of any Senior Subordinated Security issued in exchange herefor or in place hereof (whether by registration of transfer or otherwise), irrespective of whether or not any notation of such consent or waiver is made upon this Senior Subordinated Security.