Surplus Debentures definition

Surplus Debentures means, as to any Insurance Subsidiary, debt securities of such Insurance Subsidiary issued to the Company or any other Subsidiary the proceeds of which are permitted to be included, in whole or in part, as Capital and Surplus of such Insurance Subsidiary as approved and permitted by the applicable Department.
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Surplus Debentures as to any Insurance Subsidiary, debt securities of such Insurance Subsidiary the proceeds of which are permitted to be included, in whole or in part, as Capital and Surplus of such Insurance Subsidiary as approved and permitted by the applicable Department.
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Surplus Debentures means the surplus debenture made by Laurel to Seller, dated December 31, 2004, in the principal amount of $5,946,045.13, and the surplus debenture made by Laurel to Seller, dated June 30, 2000, in the principal amount of $25,000,000.
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Examples of Surplus Debentures in a sentence

  • Neither such Credit Party nor any of its Restricted Subsidiaries has received any notice from the NAIC, any other Governmental Authority or any other insurance regulatory authority that its Insurance Subsidiaries will not be permitted to pay dividends or interest, as applicable, on any Surplus Debentures or Notes.

  • Seller owns beneficially and of record all of the Shares and Surplus Debentures, free of any Lien or Stock Restriction of any kind or character whatsoever.

  • On the terms and subject to the conditions set forth in this Agreement, at Closing, Seller agrees to sell, transfer and assign the Shares and the Surplus Debentures to Buyer, and Buyer agrees to purchase the Shares and the Surplus Debentures from Seller, free and clear of all Liens (the “Share Purchase”).

  • Except as set forth on Schedule 5.20, neither such Credit Party nor any of its Subsidiaries has received any notice from the NAIC, any other Governmental Authority or any other insurance regulatory authority that its Insurance Subsidiaries will not be permitted to pay dividends or interest, as applicable, on any Surplus Debentures or Notes.

  • Title: Vice President, Assistant General Counsel and Assistant Secretary EXHIBIT A TO CONVERTIBLE SUBORDINATED SURPLUS DEBENTURES The holder of Convertible Subordinated Surplus Debentures, dated as of December 8, 1997 (the "Debentures"), issued by FOHP, Inc.

  • The KAI Notes and Subordinated Surplus Debentures shall have been repaid in full or otherwise eliminated.

  • Seller has delivered to Buyer a true and complete copy of each of the Surplus Debentures.

  • As of the Restatement Effective Date, no Surplus Debentures of any Insurance Subsidiary of the Company are outstanding.

  • All other prior surplus debentures issued by the Company, including those certain Surplus Debentures dated October 5, 1992 (in the amount of $2,500,000.00) and dated December 31, 1993 (in the amount of $2,600,000.00) have been repaid, retired or otherwise extinguished, and there are no obligations or liabilities of the Company remaining with respect thereto.

  • All documentary, stamp and other taxes and fees owing in connection with the issuance, transfer and/or pledge of the Pledged Shares, the Pledged Surplus Debentures and other Securities, certificates or instruments pledged hereunder have been paid and will hereafter be paid by the Pledgor as such become due and payable.


More Definitions of Surplus Debentures

Surplus Debentures means, as to Nationwide Mutual, debt securities of Nationwide Mutual the proceeds of which are permitted to be included, in whole or in part, as Statutory Surplus as approved and permitted by the insurance department of Nationwide Mutual's state of domicile.
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Surplus Debentures means, as to any Insurance Subsidiary, debt securities of such Insurance Subsidiary issued to the Corporation or any other Subsidiary the proceeds of which are permitted to be included, in whole or in part, as Capital and Surplus of such Insurance Subsidiary as approved and permitted by the applicable Department.
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Surplus Debentures means any subordinated surplus debentures payable by CICA to Borrower issued after the date of this Agreement in connection with an Acquisition Advance in the original principal amount of such Acquisition Advance.
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Surplus Debentures means the surplus debentures issued by the Company to Seller, consisting of (i) the $13,000,000 original principal amount surplus debenture dated November 8, 1996, (ii) the $8,000,000 original principal amount surplus debenture dated December 31, 1998 and (iii) the $6,000,000 original principal amount surplus debenture dated December 31, 1998.
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Surplus Debentures means the Amended and Restated Contribution Note, dated October 30, 1996, payable by Madison to IFSC in the principal amount of $15,000,000, the Amended and Restated Contribution Note, dated October 30, 1996, payable by Madison to IFSC in the principal amount of $5,000,000 and the Contribution Note, dated October 31, 1996, payable by Madison to IFSC in the principal amount of $5,000,000, all of which have been pledged to the Lender pursuant to Pledge Agreement II.
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Surplus Debentures means those three Surplus Debentures effective November 8, 1996, December 31, 1998, and December 31, 1998, in the original aggregate principal amount of $27,000,000.00 issued by SLIC to Borrower, of which $27,000,000 is outstanding on the date hereof.
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Related to Surplus Debentures

  • Initial Debentures means the Debentures designated as “9.5% Unsecured Convertible Debentures” and described in Section 2.5;

  • Other Debentures means all junior subordinated debentures issued by the Guarantor from time to time and sold to trusts to be established by the Guarantor (if any), in each case similar to the Issuer.

  • Subordinated Debentures means the debentures exchangeable by the Company for the Preferred Stock in accordance with the Certificate of Designations therefor.

  • Series A Debentures means the 8.675% Series A Junior Subordinated Deferrable Interest Debentures due February 1, 2027 of the Debenture Issuer issued pursuant to the Indenture.

  • Debentures has the meaning stated in the first recital of this Indenture.

  • Series B Debentures means the $200 million aggregate principal amount of 4.903% Series B senior unsecured debentures of the Trust due July 5, 2023.

  • Bridge Notes means the series of notes, of which this Note is a part, dated on or about the date hereof, each of which are identical, other than the date of the Note, identity of the Holder and principal amount of this Note.

  • Exchange Debentures has the meaning set forth in Section 2(a) hereof.

  • Convertible Debentures means the 10½% Convertible Subordinated Debentures due 2007 of the Company.

  • Convertible Notes means the 2.75% Convertible Senior Notes of the Borrower due 2022 issued pursuant to the Convertible Notes Indenture.

  • New Notes shall have the meaning assigned to such term in Section 32.

  • Convertible Debenture means the 6% convertible debenture dated July 1, 2008 and due July 1, 2011, in the amount of CAD$10,000,000 issued by Orezone to the Debentureholder;

  • 2014 Notes means the aggregate principal amount of US$399,517,000 of 10.25% Guaranteed Senior Notes Due 2014 issued pursuant to the 2014 Note Indenture.

  • Convertible Subordinated Notes means any convertible subordinated notes or debentures issued by the Borrower after the date hereof, which are subordinated to the Obligations on terms no less favorable to the Lenders, in any material respect, than the 4.75% Convertible Subordinated Notes Due 2016 (as those terms were in effect and applied to the 4.75% Convertible Subordinated Notes Due 2016 prior to the repayment thereof in full on June 15, 2016).

  • Subordinated Notes means the Initial Notes and the Exchange Notes and, more particularly, any Subordinated Note authenticated and delivered under this Indenture, including those Subordinated Notes issued or authenticated upon transfer, replacement or exchange.

  • Junior Subordinated Debentures means the aggregate principal amount of the Depositor's ____% Junior Subordinated Deferrable Interest Debentures, due ________ __, 2027, issued pursuant to the Indenture.

  • 2028 Notes means the Borrower’s $650,000,000 aggregate principal amount notes due June 13, 2028, issued in June 2023 and July 2023.

  • Promissory Notes Security", "Record", "Security Account", "Software", and "Supporting Obligations".

  • Subordinated Note Amount has the meaning set forth in the Recitals.

  • Debenture Indenture means the Indenture, dated as of December 1, 1989, between United Parcel Service of America, Inc. and Chemical Bank pursuant to which the 8-3/8% Debentures Due April 1, 2020 were issued, as in effect on the date of this Agreement (without giving effect to any amendment, supplement or other modification thereto, any repayment or covenant defeasance thereunder or any termination thereof), a copy of which is attached as Exhibit F hereto.

  • Debenture means debenture stock, mortgages, bonds and any other such securities of the Company whether constituting a charge on the assets of the Company or not.

  • 2029 Notes has the meaning specified in the recitals of this Supplemental Indenture.

  • Convertible Note means an instrument issued by a startup company evidencing receipt of money initially as debt, which is repayable at the option of the holder, or which is convertible into such number of equity shares of such startup company, within a period not exceeding five years from the date of issue of the convertible note, upon occurrence of specified events as per the other terms and conditions agreed to and indicated in the instrument;

  • 2024 Notes means the 7.000% Senior Notes due 2024, issued pursuant to the 2024 Indenture.

  • Current Interest Bonds means Bonds of a Series the interest on which is payable at least annually.

  • 2016 Notes means the aggregate principal amount of US$460,000,000 of 4.25% Convertible Senior Notes Due 2016 issued pursuant to the 2016 Note Indenture.