Trust Originated Preferred Securities definition

Trust Originated Preferred Securities and "TOPrS" are service marks of Merrxxx Xxxcx & Xo., Inc.
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Trust Originated Preferred Securities and "TOPrS" are service marks of Xxxxxxx Xxxxx & Co., Inc. respect to the sale by the Trust and the purchase by the Underwriters, acting severally and not jointly, of the respective numbers of 8 1/4% Trust Originated Preferred Securities (liquidation amount of $25 per preferred security) of the Trust (the "Preferred Securities") set forth in Schedule A hereto. The Preferred Securities will be guaranteed by the Company with respect to distributions and payments upon liquidation, redemption and otherwise (the "Preferred Securities Guarantee") pursuant to the Preferred Securities Guarantee Agreement (the "Preferred Securities Guarantee Agreement"), dated as of December 6, 1995, between the Company and The First National Bank of Chicago ("First Chicago"), as trustee (the "Guarantee Trustee"), and entitled to the benefits of certain backup undertakings described in the Prospectus (as defined herein) with respect to the Company's agreement pursuant to the Supplemental Indenture (as defined herein) to pay all expenses relating to administration of the Trust. Upon the occurrence, if any, of a "Regulatory Event" as defined in the Prospectus, at the option of the Company the Adjusted Subordinated Notes (as defined below) will be converted into the depositary shares (the "Depositary Shares") representing interests in the Company Preferred Stock (as defined below), unless prior to such conversion the holder of a Preferred Security elects not to convert such holder's Adjusted Subordinated Notes, in which event such holder will instead be entitled to receive the Adjusted Subordinated Notes. Each Depositary Share, if any, will represent a one-tenth interest in a share of the Company's 8 1/4% Cumulative Preferred Stock, par value $1.00 per share, liquidation value, $250 per share (the "Company Preferred Stock"). The Depositary Shares, if any, will be evidenced by Depositary Receipts (the "Depositary Receipts") to be issued pursuant to a Deposit Agreement (the "Deposit Agreement") among the Company, the depositary to be named therein (the "Depositary") and the holders from time to time of the Depositary Receipts issued thereunder. The Offerors have filed with the Securities and Exchange Commission (the "Commission") a registration statement on Form S-3 (No. 33-63057) for the registration under the Securities Act of 1933, as amended (the "1933 Act"), of certain securities, including (i) the Preferred Securities, (ii) the Preferred Securities Guarantee, (iii) the Company Pre...
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Trust Originated Preferred Securities and "TOPrS" are service marks of Merrill Lynch & Co. Inc.
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Examples of Trust Originated Preferred Securities in a sentence

  • The following securities have been issued by subsidiary trusts of CNC: 9.16% Trust Originated Preferred Securities (the "9.16% TOPrS"); 8.70% Trust Pass-Through Securities (the "8.70% TRuPS"); 8.796% Capital Securities (the "8.796% Capital Securities"); 6.75% Trust Originated Preferred Securities (the "6.75% TOPrS"); 8.70% Trust Originated Preferred Securities (the "8.70% TOPrS"); 9% Trust Originated Preferred Securities (the "9% TOPrS"); and 9.44% Trust Originated Preferred Securities (the "9.44% TOPrS").

  • Preferred Securities of the Trust, with an aggregate liquidation amount with respect to the assets of the Trust of and a liquidation amount with respect to the assets of the Trust of $50 per preferred security, are hereby designated for the purposes of identification only as "6.45% Trust Originated Preferred Securities" (the "Preferred Securities").

  • The 13.25% Trust Originated Preferred Securities issued by UAL Corporation Capital Trust I.

  • In January 1999, Oxy Capital Trust I, a wholly-owned subsidiary of Occidental, issued 21,000,000 shares of 8.16 percent Trust Originated Preferred Securities (Preferred Securities) to the public and 649,485 shares of Trust Originated Common Securities (Common Securities) to Occidental.

  • Trust Originated Preferred Securities (Title of the indenture securities) 1.

  • Subsidiary Trust In December 1996, UAL Corporation Capital Trust I (the "Trust") issued $75 million of its 13 1/4% Trust Originated Preferred Securities (the "Preferred Securities") in exchange for 2,999,304 depositary shares, each representing 1/1000 of one share of Series B 12 1/4% preferred stock (see Note 12 "Serial Preferred Stock").

  • In December 1996, UAL Corporation Capital Trust I (the "Trust") issued $75 million of its 13 1/4% Trust Originated Preferred Securities (the "Preferred Securities") in exchange for 2,999,304 depositary shares, each representing 1/1000 of one share of Series B 12 1/4% preferred stock (see Note 14 "Serial Preferred Stock").

  • Preferred Securities of the Trust with an aggregate liquidation amount with respect to the assets of the Trust of Dollars ($ ), and a liquidation amount with respect to the assets of the Trust of $25 per Preferred Security, are hereby designated for the purposes of identification only as " %Trust Originated Preferred Securities" (the "Preferred Securities").

  • NSP has entered into an Indenture dated as of January 30, 1997, as supplemented (the "NSP Indenture"), between NSP and Norwest Bank Minnesota, National Association pursuant to which NSP has issued Junior Subordinated Debentures to NSP Financing I which has in turn issued Trust Originated Preferred Securities to investors.

  • The Common Securities will be owned, directly or indirectly, by the Company and will also be guaranteed by the Company with respect to distributions and payments upon (SM) "Trust Originated Preferred Securities" is a service mark of Merrill Lynch & Co., Inc.


More Definitions of Trust Originated Preferred Securities

Trust Originated Preferred Securities is a service xxxx of Xxxxxxx Xxxxx & Co. Table of Contents PURCHASE AGREEMENT.............................................................1
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Trust Originated Preferred Securities and "TOPrS" are service marks of Mexxxxx Xyxxx & Co., Inc. ("TOPrS (SM)") (Liquidation Amount of $25 per Preferred Security) UNDERWRITING AGREEMENT --------------- November 27, 1996 MEXXXXX XYXXX & CO. Mexxxxx Xynch, Pierce, Fexxxx & Smxxx Incorporated, Dexx Xxxxxx Xxxxxxxx Xnc., A.X. Xxxxxxx & Sons, Inc., PaineWebber Incorporated, Prudential Securities Incorporated, Smxxx Xxxxxx Xnc., as Representatives of the several Underwriters c/o Xxxxxxx Xyxxx & Co. Mexxxxx Xynch, Pierce, Fexxxx & Smxxx Incorporated Mexxxxx Xyxxx Xorld Headquarters North Tower World Financial Center New York, New York 10281 Dear Sirs:
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Trust Originated Preferred Securities and "TOPrS" are service marks of Xxxxxxx Xxxxx & Co., Inc. TABLE OF CONTENTS SCHEDULES Schedule A - List of Underwriters Sch A 1 Schedule B - Pricing Information Sch B-1 U S WEST FINANCING II (a Delaware business trust) 19,200,000 Preferred Securities 8 % Trust Originated Preferred Securities ("TOPrS" SM) (Liquidation Amount of $25 Per Preferred Security) PURCHASE AGREEMENT October 24, 1996 XXXXXXX XXXXX & CO. Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated Xxxx Xxxxxx Xxxxxxxx Inc. X.X. Xxxxxxx & Sons, Inc. PaineWebber Incorporated Prudential Securities Incorporated Xxxxx Xxxxxx Inc. as Representatives of the several Underwriters c/x XXXXXXX XXXXX & CO. Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated North Tower World Financial Center New York, New York 10281-1209 Ladies and Gentlemen: U S WEST FINANCING II (the "Trust"), a statutory business trust organized under the Business Trust Act (the "Delaware Act") of the State of Delaware (Chapter 38, Title 12, of the Delaware Code, 12 Del. C. Sections 3801 et seq.), U S WEST, Inc., a Delaware corporation (the "Guarantor"), and U S WEST Capital Funding, Inc., a Colorado corporation ("Capital Funding" and, together with the Trust and the Guarantor, the "Offerors") confirm their agreement (the ___________________ SM "Trust Originated Preferred Securities" and "TOPrS" are service marks of Xxxxxxx Xxxxx & Co., Inc.
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Trust Originated Preferred Securities and "TOPrS" are service marks of Merrxxx Xxxcx & Xo., Inc. depositary shares, each representing one-fourth of a share of the Company's Series D 7.92% Preference Stock, par value $0.10 per share (the "Series D Target Securities"). In addition, General Motors Capital Trust G (the "Series G Trust", a statutory business trust organized under the Delaware Act, pursuant to the Amended and Restated Declaration of Trust, to be dated as of the Exchange Date (as defined herein) (the "Series G Declaration"), among the Company, as sponsor, Wilmington Trust Company, as institutional trustee (the "Series G Institutional Trustee"), Wilmington Trust Company, as Delaware trustee (the "Series G Delaware Trustee"), and the other trustees specified therein, as regular trustees (the "Series G Regular Trustees" and, together with the Series G Institutional Trustee and the Series G Delaware Trustee, the "Series G Trustees"), and the holders from time to time of undivided beneficial ownership interests in the assets of the Series G Trust, proposes to issue its % Trust Originated Preferred Securities (" % TOPrS(SM)")(the "Series G Preferred Securities"), in exchange for up to 9,071,910 depositary shares, each representing one-fourth of a share of the Company's Series G 9.12% Preference Stock, par value $0.10 per share (the "Series G Target Securities"). As used in this agreement, the Series D Trust and the Series G Trust are referred to collectively as the "Trusts", the Series D Declaration and the Series G Declaration are referred to collectively as the "Declarations", the Series D Institutional Trustee and the Series G Institutional Trustee are referred to collectively as the "Institutional Trustees", the Series D Delaware Trustee and the Series G Delaware Trustee are referred to collectively as the "Delaware Trustees", the Series D Regular Trustees and the Series G Regular Trustees are referred to collectively as the "Regular Trustees", the Institutional Trustees, Delaware Trustees and Regular Trustees are referred to collectively as the "Trustees", the Series D Preferred Securities and the Series G Preferred Securities are referred to collectively as the "Preferred Securities", and the Series D Target Securities and the Series G Target Securities are referred to collec- tively as the "Target Securities." The Preferred Securities will be guaranteed (the "Guarantees") by the Company to the extent described in the Prospectus (as hereinafter defined). The exchange offers described...
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Related to Trust Originated Preferred Securities

  • Trust Preferred Securities any preferred securities issued by a Trust Preferred Securities Subsidiary, where such preferred securities have the following characteristics:

  • Hybrid Preferred Securities means any preferred securities issued by a Hybrid Preferred Securities Subsidiary, where such preferred securities have the following characteristics:

  • Preferred Securities has the meaning specified in the first recital of this Indenture.

  • Equity Preferred Securities means, with respect to any Person, any trust preferred securities or deferrable interest subordinated debt securities issued by such Person or other financing vehicle of such Person that (i) have an original maturity of at least twenty years, and (ii) require no repayments or prepayments and no mandatory redemptions or repurchases, in each case, prior to the first anniversary of the latest Maturity Date.

  • Capital Securities means undivided beneficial interests in the assets of the Trust which rank pari passu with Common Securities issued by the Trust; provided, however, that upon the occurrence and continuance of an Event of Default (as defined in the Declaration), the rights of holders of such Common Securities to payment in respect of distributions and payments upon liquidation, redemption and otherwise are subordinated to the rights of holders of such Capital Securities.

  • Non Book-Entry Preferred Securities shall have the meaning set forth in Section 2.4.

  • NIM Securities Any debt securities secured or otherwise backed by some or all of the Class X and Class P Certificates that are rated by one or more Rating Agencies.

  • Series or “Series of Securities” means each series of debentures, notes or other debt instruments of the Company created pursuant to Sections 2.1 and 2.2 hereof.

  • Covered Securities means any note, stock, treasury stock, security future, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security (including a certificate of deposit) or on any group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a "security", or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase any of the foregoing.

  • Subordinated Securities means Securities that by the terms established pursuant to Subsection 2.3(9) are subordinated in right of payment to Senior Indebtedness of the Issuer.

  • Trust Securities means the Common Securities and the Capital Securities.

  • Preferred Security means an undivided beneficial interest in the assets of the Trust, having a Liquidation Amount of $1,000 and having the rights provided therefor in this Trust Agreement.

  • Book-Entry Preferred Securities Certificates means a beneficial interest in the Preferred Securities Certificates, ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 5.11.

  • Purchaser Securities means the Purchaser Units, the Purchaser Common Stock, the Purchaser Preferred Stock and the Purchaser Warrants, collectively.

  • Asset-Backed Securities means securities which:

  • Definitive Preferred Securities Certificates means Preferred Securities issued in certificated, fully registered form that are not Global Preferred Securities.

  • Series A Debentures means the Series A 8.98% Junior Subordinated Deferrable Interest Debentures due February 1, 2027 of the Debenture Issuer issued pursuant to the Indenture.

  • Securities has the meaning stated in the first recital of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture.

  • Pledged Debt Securities has the meaning assigned to such term in Section 3.01.

  • Preferred Security Certificate means a certificate representing a Preferred Security substantially in the form of Exhibit A-1.

  • Preferred Securities Certificate means a certificate evidencing ownership of Preferred Securities, substantially in the form attached as Exhibit C.

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

  • Individual Securities shall have the meaning specified in Section 3.01(p).

  • 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.

  • Agency Securities means negotiable debt obligations which are fully guaranteed as to both principal and interest by the Federal National Mortgage Association, the Government National Mortgage Association or the Federal Home Loan Mortgage Corporation, but excluding (i) interest only and principal only securities and (ii) Collateralized Mortgage Obligations, Real Estate Mortgage Investment Conduits and similar derivative securities.

  • Majority in Liquidation Amount of the Preferred Securities means a vote by the Holder(s), voting separately as a class, of more than fifty percent (50%) of the aggregate Liquidation Amount of all then outstanding Preferred Securities issued by the Issuer.