Series Q Preferred Stock definition

Series Q Preferred Stock means the shares of the Corporation’s 5.375% Non-Cumulative Perpetual Preferred Stock Series Q, $1.00 par value, with a liquidation preference of $100,000 per share, designated in the Statement and described in the Officer’s Certificate delivered pursuant to Section 2.2 hereof.

Series Q Preferred Stock means the shares of the Corporation’s 5.100% Series Q Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, $5.00 par value, with a liquidation preference of $25,000 per share, designated in the Articles of Amendment and described in the Officer’s Certificate delivered pursuant to Section 2.2 hereof.

Series Q Preferred Stock has the meaning set forth in Section 1 hereof.

Examples of Series Q Preferred Stock in a sentence

• Shares of Series Q Preferred Stock are not subject to the operation of a sinking fund.

• Subject to the provisions of this Section 6, the Board of Directors of the Corporation or any duly authorized committee of the Board of Directors shall have full power and authority to prescribe the terms and conditions upon which shares of Series Q Preferred Stock shall be redeemed from time to time.

• Dividends on shares of Series Q Preferred Stock shall be non-cumulative.

• If the assets of the Corporation are not sufficient to pay in full the Liquidation Preference to all holders of Series Q Preferred Stock and all holders of any Parity Stock, the amounts paid to the holders of Series Q Preferred Stock and to the holders of all Parity Stock shall be pro rata in accordance with the respective aggregate liquidation preference of Series Q Preferred Stock and all such Parity Stock.

• Notwithstanding the foregoing, if the Series Q Preferred Stock is held in book-entry form through DTC, the Corporation may give such notice in any manner permitted by DTC.

• The holders of Series Q Preferred Stock shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Corporation other than what is expressly provided for in this Section 5.

• The holders of Series Q Preferred Stock shall not have any rights of preemption or rights to convert such Series Q Preferred Stock into shares of any other class of capital stock of the Corporation.

• The Corporation, at the option of its Board of Directors or any duly authorized committee of the Board of Directors of the Corporation, may redeem, subject to the prior approval of the Federal Reserve Board, out of funds legally available therefor, in whole or in part, the shares of Series Q Preferred Stock at the time outstanding, at any time on any Dividend Payment Date on or after September 15, 2023, upon notice given as provided in Section 6(b) below.

• The redemption price for shares of Series Q Preferred Stock shall be $25,000 per share plus an amount equal to any dividends that have been declared but not paid, without accumulation of any undeclared dividends.

• Any notice mailed as provided in this Section 6(b) shall be conclusively presumed to have been duly given, whether or not the holder receives such notice, but failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any holder of shares of Series Q Preferred Stock designated for redemption shall not affect the validity of the proceedings for the redemption of any other shares of Series Q Preferred Stock.

More Definitions of Series Q Preferred Stock

Series Q Preferred Stock means shares of the Company’s 5.85% Fixed-to-Floating Rate Non- Cumulative Perpetual Class A Preferred Stock, Series Q, no par value, with a liquidation preference amount of

Series Q Preferred Stock means the Series Q Convertible Preferred Stock issued by Geotek ranking (i) prior to the Common Stock, (ii) junior to the Series H Preferred Stock, Series I Preferred Stock, Series K Preferred Stock, Series L Preferred Stock, Series M Preferred Stock, and Series N Preferred Stock, and (iii) pari passu with the Series O Preferred Stock, Series P Preferred Stock, and Series T Preferred Stock.