Examples of Series C Preferred Securities in a sentence
The Series C Preferred Securities will only be issued in certificated form.
A withdrawing owner who wishes to withdraw Series C Preferred Securities in accordance with this Section 3.06 will be required to provide the Grantor with a completed Form W-8 or such other documents or information as are requested by the Grantor for tax reporting purposes and thereafter shall be admitted to the Grantor as a preferred partner of the Grantor upon such withdrawing owner's receipt of a certificate evidencing such Preferred Securities registered in such withdrawing owner's name.
PECO Energy Capital Trust II (Trust II) was created in June 1997 as a Delaware business trust solely for the purpose of issuing trust receipts (Trust II Receipts) each representing an 8.00% Cumulative Monthly Income Preferred Security, Series C (Series C Preferred Securities) of the Partnership.
PURCHASER: By: /s/ Xxxxxxxx Xxxx Name: Xxxxxxxx Xxxx Title: Director By: /s/ Xxxxxxxx Xxxx Name: Xxxxxxxx Xxxx Title: Director IN WITNESS WHEREOF, the parties have duly executed and delivered this Amendment No. 1 to Series C Preferred Securities Purchase Agreement as of the Effective Date.
The holders of the Series C Preferred Securities shall have no voting rights except as provided in the Partnership Agreement.
Each Purchaser receiving Exchanged Series C Preferred Securities in the Exchange acknowledges and agrees that, for purposes of Rule 144, the Exchanged Series C Preferred Securities will be deemed to have been acquired on the Closing Date and shall not assume the registered character of the Exchanged Series A Preferred Shares.
The holders of Series C Preferred Securities are deemed, by acceptance of such Securities, to have (i) agreed that the Series C Debentures issued pursuant to the Supplemental Indenture are subordinate and junior in right of payment to all Senior Indebtedness (as defined in the Indenture) of PECO Energy and (ii) agreed that the Guarantee relating to the Series C Preferred Securities is subordinate and junior in right of payment to all general liabilities of PECO Energy.
Two million (2,000,000) interests with an aggregate liquidation preference of $50,000,000 of the Preferred Partner Interests of the Partnership, liquidation preference $25 per Preferred Security, are hereby designated as "____% Cumulative Monthly Income Preferred Securities, Series C" (hereinafter the "Series C Preferred Securities").
At December 31, 2000, the assets of Trust II consisted solely of 2,000,000 Series C Preferred Securities with an aggregate stated liquidation preference of $50 million.
The Company covenants for the benefit of the Holders of the Series C Debentures to pay all of the costs and expenses of Trust III in accordance with Section 2.03(b) of the Trust III Agreement and to pay the taxes of Trust III in accordance with Section 2.03(c) of the Trust III Agreement in order to permit Trust III to make distributions on and redemptions of the Series C Preferred Securities in accordance with Article IV of the Trust III Agreement.