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. Xxxxxxxx Inc., X.X. Xxxxxxx & Sons, Inc., PaineWebber Incorporated, Prudential Securities Incorporated and Xxxxx Xxxxxx Inc. are acting as representatives (in such capacity, the "Representatives"), with respect to the sale by the Trust and the purchase by the Underwriters, acting severally and not jointly, of the respective numbers of _____% Trust Originated Preferred Securities (liquidation amount of $___ per preferred security) of the Trust (the "Initial Preferred Securities") set forth in said Schedule A. The Company also grants to the Underwriters, severally and not jointly, the option described in Section 2(c) (the "Option") to purchase up to _______ additional ____% Trust Originated Preferred Securities (liquidation amount of $________ per preferred security) of the Trust (the "Option Preferred Securities" and together with the Initial Preferred Securities the "Preferred Securities") solely to cover over-allotments. The Preferred Securities will be guaranteed on a subordinated basis by the Company, to the extent set forth in the Prospectus (as defined herein), with respect to distributions and payments upon liquidation, redemption and otherwise (the "Preferred Securities Guarantee") pursuant to the Preferred Securities Guarantee Agreement, dated as of ________, 1996, and as may be amended, if necessary, in connection with an exercise of the Option (the "Preferred Securities Guarantee Agreement"), between the Company and The Bank of New York, as trustee (the "Guarantee Trustee"), and will be 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 (other than payment obligations with respect to the Preferred Securities). The Preferred Securities and the related Preferred Securities Guarantees are referred to herein as the "Securities."
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Trust Originated Preferred Securities is a service xxxx of Xxxxxxx Xxxxx & Co. Table of Contents PURCHASE AGREEMENT.............................................................1
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Examples of Trust Originated Preferred Securities in a sentence

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

  • 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").

  • 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").

  • 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 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").

  • 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.

  • HEI used the net proceeds from the sale, along with other corporate funds, to effect the redemption of the 8.36% Trust Originated Preferred Securities in April 2004.

  • The Company and the Purchase Contract Agent are parties to the Purchase Contract Agreement, dated as of the date hereof (as modified and supplemented and in effect from time to time, the "Purchase Contract Agreement"), pursuant to which there may be issued up to FELINE PRIDES and ___% Trust Originated Preferred Securities (the "Preferred Securities" and, together with the FELINE PRIDES, the "Securities").

  • In 1997, another special purpose finance subsidiary, PLC Capital Trust I, issued $75 million of 8.25% Trust Originated Preferred Securities (TOPrSSM).


More Definitions of Trust Originated Preferred Securities

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 Merrill Lynch & Co. Inc.
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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.

  • Hybrid Preferred Securities Subsidiary means any Delaware business trust (or similar entity) (i) all of the common equity interest of which is owned (either directly or indirectly through one or more wholly-owned Subsidiaries of the Company) at all times by the Company or a wholly-owned direct or indirect Subsidiary of the Company, (ii) that has been formed for the purpose of issuing Hybrid Preferred Securities and (iii) substantially all of the assets of which consist at all times solely of Junior Subordinated Debt issued by the Company or a wholly-owned direct or indirect Subsidiary of the Company (as the case may be) and payments made from time to time on such Junior Subordinated Debt.

  • 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 As defined in the tenth Recital to this Agreement.

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

  • Securities as used herein does not include (i) securities of issuers that are affiliated with the Buyer or are part of the Buyer's Family of Investment Companies, (ii) securities issued or guaranteed by the U.S. or any instrumentality thereof, (iii) bank deposit notes and certificates of deposit, (iv) loan participations, (v) repurchase agreements, (vi) securities owned but subject to a repurchase agreement and (vii) currency, interest rate and commodity swaps.

  • 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.

  • Qualified Securities means securities of a reporting issuer that carry the right to participate in voting on the appointment or removal of the reporting issuer’s auditor;

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

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

  • Series A Junior Securities means any class or series of Partnership Interests that, with respect to distributions on such Partnership Interests and distributions upon liquidation of the Partnership, ranks junior to the Series A Preferred Units, including Common Units and Non-Voting Common Units, but excluding any Series A Parity Securities and Series A Senior Securities.