Substituted Preference Shares definition

Substituted Preference Shares. ’ means the preference shares which may be issued by HBOS in substitution for the Preferred Securities and the Guarantee as described under paragraph 5;
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Substituted Preference Shares means the preference shares which may be issued by the Guarantor in substitution for the Preferred Securities and the Subordinated Guarantee upon the occurrence of a Capital Deficiency Event;
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Substituted Preference Shares means the preference shares which may be issued by the Guarantor in substitution for the Preferred Securities and the Subordinated Guarantee upon the occurrence of a Capital Deficiency Event or the Involuntary Dissolution of the Issuer (in circumstances where the Guarantor is itself not insolvent or in liquidation) and, in circumstances where Substituted Preference Shares are already registered in the name of a nominee for a common depositary for Euroclear and Clearstream, Luxembourg and an Exchange Event occurs, also means such Substituted Preference Shares as are registered directly in the names of the Holders;
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Examples of Substituted Preference Shares in a sentence

  • Each relevant investor will receive a security in a nominal amount of €1,000 issued by the finance company and backed by the Substituted Preference Shares.

  • If a Preferred Securities Substitution occurs it is the current intention of the General Partner to arrange for an alternative method for investors to hold their Substituted Preference Shares.

  • This summary does not purport to be a comprehensive description of all Netherlands tax considerations that may be relevant to a decision to acquire, to hold, and to dispose of the Preferred Securities or Substituted Preference Shares.

  • If any Substituted Preference Shares are issued directly to investors transfers will be subject to Irish stamp duty at a rate of 1 per cent., see "Taxation – Ireland".

  • The General Partner will only offer this alternative means of holding the Substituted Preference Shares if under Irish law in force at the time of the Preferred Securities Substitution such an arrangement would enable investors to hold the security in Clearstream Banking AG, Frankfurt am Main ("Clearstream, Frankfurt") and receive cashflows on the Substituted Preference Shares free of Irish withholding taxes and such security would be transferable free of Irish stamp taxes.

  • In such circumstances the Guarantor will, subject to having available distributable profits, pay such additional amounts by way of extra dividend to investors as may be necessary in order that the net payments under the Substituted Preference Shares, after any withholding for taxes imposed by Ireland on such payments, will equal the amount that would have been received in the absence of any such withholding.

  • Although the Guarantor has undertaken to apply for a listing for the Substituted Preference Shares there can be no assurance that, in the event that a Capital Deficiency Event occurs and is continuing, a recognised stock exchange will agree to list such Substituted Preference Shares.

  • Each prospective holder of Preferred Securities or Substituted Preference Shares should consult a professional adviser with respect to the tax consequences of an investment in the Preferred Securities or Substituted Preference Shares.

  • The following summary describes the principal Netherlands tax consequences of the acquisition, holding, redemption and disposal of Preferred Securities or Substituted Preference Shares.

  • If the Guarantor issues the Substituted Preference Shares directly to the Holders then under the current Irish tax regime dividends on such Substituted Preference Shares may be subject to Irish withholding taxes.


More Definitions of Substituted Preference Shares

Substituted Preference Shares. ’ means a class of non-cumulative perpetual preference shares of the Guarantor ranking at least equally with the most senior ranking preference shares of the Guarantor in issue (if any) from time to time and having the same distribution rates as the Preferred Securities and being redeemable at the option of the Guarantor on the First Call Date or any Distribution Payment Date thereafter at an aggregate nominal amount equal to the aggregate Optional Redemption Price;
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Substituted Preference Shares means a class of non-cumulative perpetual preference shares of the Guarantor, having substantially the same economic terms as the Preferred Securities and otherwise issued in conformity with the terms of issue of the Substituted Preference Shares set out in Schedule 4 to the Limited Partnership Agreement*;
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Substituted Preference Shares. ’ means a class of non-cumulative perpetual preference shares of the Guarantor ranking at least equally with the most senior ranking preference shares of the Guarantor in issue (if any) from time to time and having the same distribution rates as the Preferred Securities and being redeemable at the option of the Guarantor on the First Call Date or any Distribution Payment Date thereafter at k50,000 per Substituted Preference Share and otherwise having those features as are speci¢ed in Schedule 3 of the Limited Partnership Agreement1;
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Related to Substituted Preference Shares

  • Series H Preferred Stock means the Corporation's Series H Convertible Preferred Stock, par value $0.004 per share.

  • Designated Preferred Stock means Preferred Stock of the Company or any direct or indirect parent of the Company (other than Disqualified Stock), that is issued for cash (other than to the Company or any of its Subsidiaries or an employee stock ownership plan or trust established by the Company or any of its Subsidiaries) and is so designated as Designated Preferred Stock, pursuant to an Officers’ Certificate, on the issuance date thereof.

  • Series D Preferred Shares means the Company’s series D preferred shares, par value US$0.00001 per share.

  • Qualified Preferred Stock means any preferred capital stock of Holdings or the Lead Borrower so long as the terms of any such preferred capital stock (x) do not contain any mandatory put, redemption, repayment, sinking fund or other similar provision prior to the 91st day after the Latest Maturity Date at as of the date such Qualified Preferred Stock was issued other than (i) provisions requiring payment solely (or with provisions permitting Holdings or the Lead Borrower, as applicable, to opt to make payment solely) in the form of common Equity Interests or Qualified Preferred Stock of Holdings or the Lead Borrower, as applicable, or any Equity Interests of any direct or indirect Parent Company of Holdings or the Lead Borrower, as applicable, (ii) provisions requiring payment solely as a result of a change of control or asset sale, so long as any rights of the holders thereof upon the occurrence of a change of control or asset sale are subject to the payment in full of all Obligations in cash (other than unasserted contingent indemnification obligations) or such payment is otherwise permitted by this Agreement (including as a result of a waiver or amendment hereunder) and (iii) with respect to preferred capital stock issued to any plan for the benefit of employees of Holdings or the Lead Borrower, as applicable, or its Subsidiaries or by any such plan to such employees, provisions requiring the repurchase thereof in order to satisfy applicable statutory or regulatory obligations and (y) give Holdings or the Lead Borrower the option to elect to pay such dividends or distributions on a non-cash basis or otherwise do not require the cash payment of dividends or distributions at any time that such cash payment is not permitted under this Agreement or would result in a Default or Event of Default hereunder.

  • Series C Preferred Shares means the Company’s series C preferred shares, par value US$0.00001 per share.

  • Series E Preferred Shares means the Series E Preferred Shares of the Company, par value US$0.0001 per share, with the rights and privileges as set forth in the Memorandum and Articles.

  • Series G Preferred Stock means the Corporation's Series G Convertible Preferred Stock, par value $0.004 per share.

  • Series A Preference Shares means the Series A Preference Shares of £0.05 each in the capital of the Company.

  • Series D Preferred Stock means shares of the Company’s Series D Preferred Stock, par value $0.00001 per share.

  • Series F Preferred Shares means the Series F Preferred Shares of the Company, par value US$0.0001 per share, with the rights and privileges as set forth in the Memorandum and Articles.

  • New Preferred Stock means the Convertible Series A Preferred Stock and the Series B Preferred Stock.

  • Permitted Preferred Stock means and refers to any Preferred Stock issued by a Borrower (and not by one or more of its Subsidiaries) that is not Prohibited Preferred Stock.

  • Series D Preferred means the Corporation's Series D Convertible Preferred Stock, par value $.002 per share.

  • Series F Preferred Stock means shares of the Company’s Series F Preferred Stock, par value $0.0001 per share.

  • Series E Preferred Stock means the Series E Preferred Stock, par value $0.001, of the Company.

  • Series C Preferred Stock means shares of the Company’s Series C Preferred Stock, par value $0.0001 per share.

  • Series A Preferred Shares means the Series A Preferred Shares of the Company, par value US$0.0001 per share, with the rights and privileges as set forth in the Memorandum and Articles.

  • Series B-2 Preferred Stock means shares of the Company’s Series B-2 Preferred Stock, par value $0.001 per share.

  • Series C Preferred Units shall have the meaning provided in Section 1.

  • Safe Preferred Stock means the shares of the series of Preferred Stock issued to the Investor in an Equity Financing, having the identical rights, privileges, preferences and restrictions as the shares of Standard Preferred Stock, other than with respect to: (i) the per share liquidation preference and the initial conversion price for purposes of price-based anti-dilution protection, which will equal the Conversion Price; and (ii) the basis for any dividend rights, which will be based on the Conversion Price.

  • Series B-1 Preferred Stock means shares of the Company’s Series B-1 Preferred Stock, par value $0.001 per share.

  • Series A-1 Preferred Shares means the Company’s series A-1 preferred shares, par value US$0.00001 per share.

  • Series A Preferred Unit means a Preferred Unit having the designations, preferences, rights, powers and duties set forth in Article XVI.

  • Company Series C Preferred Stock means the Series C Preferred Stock, par value $0.0001 per share, of the Company.

  • Series A Preferred Stock means shares of the Company’s Series A Preferred Stock, par value $0.00001 per share.

  • Series C Preferred means all shares of the Series C Preferred Stock, $0.001 par value per share, of the Company.