Special Securities definition

Special Securities means securities which can, at the option of the holder, be surrendered at face value in payment of any Federal estate tax or which provide tax benefits to the holder and are priced to reflect such tax benefits or which were originally issued at a deep or substantial discount;

Special Securities means securities which can, at the option of the holder, be surrendered at face value in payment of any Federal estate tax or which provide tax benefits to the holder and are priced to reflect such tax benefits or which were originally issued at a deep or substantial discount.

Special Securities means any of the following issued by the Borrowers, (a) redeemable preferred securities that are not redeemable, whether mandatorily or at the option of the holder thereof, sooner than the tenth anniversary of the date of determination, (b) junior subordinated debentures outstanding on the Amendment Closing Date that (i) are subordinated in right of payment to the Loans and (ii) do not mature and are not redeemable, mandatorily or at the option of the holder thereof, prior to the date that is 90 days following the latest Maturity Date under this Agreement and (c) any other securities issued on or after the Amendment Closing Date that at the time of determination would be (in accordance with S&P’s methodology as in effect on the Amendment Closing Date or, if later, the date of issuance of such securities, but applying such methodology to the terms of such securities, including maturity, as in effect on the date of determination) classified as possessing “intermediate equity content” (either strong or adequate) or “high equity content” by S&P (or the equivalent classification then in effect).

Examples of Special Securities in a sentence

• This Fund comprises all revenues received by the State Government, all loans raised by the State Government (market loans, bonds, loans from the Central Government, loans from Financial Institutions, Special Securities issued to National Small Savings Fund, etc.), Ways and Means advances extended by the Reserve Bank of India and all moneys received by the State Government in repayment of loans.

• This statement, which corresponds to the summary statement 6 in Volume I, contains details of all loans raised by the State Government (market loans, bonds, loans from the Central Government, loans from Financial Institutions, Special Securities issued to National Small Savings Fund, etc.), and Ways and Means advances extended by the Reserve Bank of India.

• This Fund comprises all revenues received by the State Government, all loans raised by the State Government (market loans, bonds, loans from the Central Government, loans from Financial Institutions, Special Securities issued to National Small Savings Fund, etc.), Ways and Means Advances extended by the Reserve Bank of India and all moneys received by the State Government in repayment of loans.

• This Fund comprises all revenues received by the State Government, all loans raised by the State Government (market loans, bonds, loans from the Central Government, loans from Financial Institutions, Special Securities issued to National Small Savings Fund, etc.), Ways and Means Advances (WMA) extended by the Reserve Bank of India (RBI) and all moneys received by the State Government in repayment of loans.

• The purchase price of the New Securities shall be paid out of the funds reserved for the purchase of the failed Special Securities.

More Definitions of Special Securities

Special Securities is defined in the definition of "Trigger Date" below.

Special Securities means (a) redeemable preferred securities and (b) any other securities for which the Company provides evidence satisfactory to the Administrative Agent that such securities are afforded equity capital credit by S&P, that, in the case of clauses (a) and (b), are not redeemable, whether mandatorily or at the option of the holder thereof, sooner than the later of (i) the tenth anniversary of the issuance thereof and (ii) the first anniversary of the Maturity Date.

Special Securities means for purposes of this Section 3.6 any securities that the Corporation proposes to Issue that are described in subsection (g) of the definition of “Excluded Securities” in Section 3.5 above.

Special Securities means (a) redeemable preferred securities and (b) any other securities for which the Company provides evidence satisfactory to the Administrative Agent that such securities are classified, (1) in the case of such securities issued prior to the Effective Date, on the Effective Date, or (2) in the case of such securities issued after the Effective Date, at the time they are issued, as possessing “intermediate equity content” (either strong or adequate) or “high equity content” by S&P (or the equivalent classification then in effect), that, in the case of clauses (a) and (b), are not redeemable, whether mandatorily or at the option of the holder thereof, sooner than the later of (i) the tenth anniversary of the issuance thereof and (ii) the first anniversary of the Maturity Date; provided that for purposes of clause (b) above, the equity credit treatment given by S&P to any such securities outstanding as of the Effective Date shall be deemed to apply to such securities to the extent such securities remain outstanding, irrespective of any change in the equity credit treatment given by S&P to such securities at any time after the Effective Date (and for the avoidance of doubt, any change in the amount or percentage of the equity credit given to any such security outstanding as of the Effective Date that is contemplated in the equity credit treatment given to such security as of the Effective Date, including without limitation any such change resulting from the life to maturity of such security or the amount of all such securities as a percentage of total adjusted capital (as determined by S&P) shall continue to be given effect after the Effective Date for purposes of clause (b) above).

Special Securities means securities that can, at the option of the holder, be surrendered at face value in payment of any federal estate tax or that provide tax benefits to the holder and are priced to reflect such tax benefits or that were originally issued at a deep or substantial discount.

Special Securities means ------------------

Special Securities means securities which can, at the option of the holder, be surrendered at face value in payment of any Federal estate tax or which provide tax benefits to