Trust Preferred Obligations definition

Trust Preferred Obligations means the subordinated, deferrable interest debt securities of the Borrower, and, without duplication, any related securities issued by a trust or other special purpose entity in connection therewith.

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Trust Preferred Obligations means all obligations of the Debtors arising under or pursuant to the Trust Preferred Securities and related Indenture by and between Kmart Corporation and The Bank of New York, as Trustee, dated June 6, 1996, the First Supplemental Indenture of the same date, and related documents.

Trust Preferred Obligations has the meaning set forth in Section 2(f).

Examples of Trust Preferred Obligations in a sentence

• Make or permit any amendment or modification to any indenture, note or other agreements evidencing or governing any Qualifying Trust Preferred Obligations, or if any Default or Event of Default has occurred and is continuing or would arise as a result thereof, directly or indirectly pay, prepay, defease or in substance defease, purchase, redeem, retire or otherwise acquire any Qualifying Trust Preferred Obligations.

• NYMT’s Tangible Net Worth (increased for purposes of determining such amount by the outstanding principal amount of the Trust Preferred Obligations) is not less than $100,000,000, or such higher amount provided under any other repurchase, financing, credit or other similar facility entered into by the Sellers.

• The Seller shall not permit NYMT’s Tangible Net Worth (increased for purposes of determining such amount by the outstanding principal amount of the Trust Preferred Obligations) at any time to be less than $100,000,000, or such higher amount provided under any other repurchase, financing, credit or other similar facility entered into by Seller.

More Definitions of Trust Preferred Obligations

Trust Preferred Obligations means (i) the $25 million NYM Preferred Trust I securities with maturity on March 15, 2035, and (ii) the $20 million NYM Preferred Trust II securities with maturity on October 30, 2035.

Trust Preferred Obligations means all obligations of the Debtors arising under or pursuant to the Trust Preferred Securities.