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.
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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.
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Examples of Trust Preferred Obligations in a sentence

  • In the event that the Class of Prepetition Notes rejects the Plan, holders of Trust Preferred Obligations shall not receive or retain any property or interest in property on account of such Obligations under the Plan.

  • 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.

  • The term "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.

  • Finally, the term "Non-Lender Claims" means the Prepetition Note Claims, the Trade Vendor/Lease Rejection Claims, the Trust Preferred Obligations, and Other Unsecured Claims.

  • 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.

  • ESL holds approximately $382 million principal amount of Prepetition Lender Claims, approximately $1.177 billion principal amount of Prepetition Note Claims, and approximately $61 million in Trade Vendor/Lease Rejection Claims, and Trust Preferred Obligations; and Third Avenue holds approximately $99 million principal amount of Prepetition Note Claims and approximately $79 million in Trade Vendor/Lease Rejection Claims.

  • ESL holds approximately $384 million principal amount of Prepetition Lender Claims, approximately $1.162 billion principal amount of Prepetition Note Claims, and approximately $62 million in Trade Vendor/Lease Rejection Claims, and Trust Preferred Obligations; and Third Avenue holds approximately $99 million principal amount of Prepetition Note Claims and approximately $79 million in Trade Vendor/Lease Rejection Claims.

  • The following Classes are Impaired under, and are entitled to vote to accept or reject, the Plan: Class 4 (Prepetition Lender Claims), Class 5 (Prepetition Note Claims), Class 6 (Trade Vendor/Lease Rejection Claims), Class 7 (Other Unsecured Claims), Class 8 (General Unsecured Convenience Claims), Class 9 (Trust Preferred Obligations), Class 11 (Subordinated Securities Claims), and Class 12 (Interests).

  • The following Classes are Impaired under, and are entitled to vote to accept or reject, the Plan: Class 3 (Prepetition Lender Claims), Class 4 (Prepetition Note Claims), Class 5 (Trade Vendor/Lease Rejection Claims), Class 6 (Other Unsecured Claims), Class 7 (General Unsecured Convenience Claims), and Class 8 (Trust Preferred Obligations).

  • Second, holders of Prepetition Notes have been separately classified because they are entitled to additional distributions on account of the subordination agreement with the holders of the Trust Preferred Obligations.


More Definitions of Trust Preferred Obligations

Trust Preferred Obligations means all obligations of the Debtors arising under or pursuant to the Trust Preferred Securities.
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Trust Preferred Obligations has the meaning set forth in Section 2(f).
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Related to Trust Preferred Obligations

  • Secured Obligations has the meaning specified in the Security Agreement.

  • Additional Secured Obligations means (a) all obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements and (b) all costs and expenses incurred in connection with enforcement and collection of the foregoing, including the fees, charges and disbursements of counsel, in each case whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding; provided that Additional Secured Obligations of a Guarantor shall exclude any Excluded Swap Obligations with respect to such Guarantor.

  • Guarantor Subordinated Obligations means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) that is expressly subordinated in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • Senior Obligations is defined in Section 5.1 of this Agreement.

  • Junior Obligations means the Junior Obligations of the Guarantor and the Junior Obligations of the Issuer;

  • Guarantor Subordinated Obligation means, with respect to a Guarantor, any Indebtedness of such Guarantor (whether outstanding on the Issue Date or thereafter Incurred) that is expressly subordinated in right of payment to the obligations of such Guarantor under its Note Guarantee pursuant to a written agreement.

  • Subordinated Obligations has the meaning specified in Section 7.05.

  • Guarantied Obligations or "Secured Obligations," as the case may be, in respect of the Obligations of the Borrowers now or hereafter existing under or in respect of the Amended Agreement. Each Credit Support Party acknowledges and agrees that any of the Credit Support Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of this Amendment. Each Credit Support Party represents and warrants that all representations and warranties contained in the Amended Agreement and the Credit Support Documents to which it is a party or otherwise bound are true, correct and complete in all material respects on and as of the Second Amendment Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true, correct and complete in all material respects on and as of such earlier date. Each Credit Support Party (other than the Borrowers) acknowledges and agrees that (i) notwithstanding the conditions to effectiveness set forth in this Amendment, such Credit Support Party is not required by the terms of the Credit Agreement or any other Loan Document to consent to the amendments to the Credit Agreement effected pursuant to this Amendment and (ii) nothing in the Credit Agreement, this Amendment or any other Loan Document shall be deemed to require the consent of such Credit Support Party to any future amendments to the Credit Agreement.

  • Senior Security Documents means with respect to any Senior Secured Party, the Security Documents that secure the Senior Obligations.

  • Parity Obligations means (i) all obligations of the Issuer in respect of Tier 1 Instruments (excluding any such obligations that rank, or are expressed to rank, junior to claims in respect of the Notes), and (ii) any other securities or obligations (including, without limitation, any guarantee, credit support agreement or similar undertaking) of the Issuer that rank, or are expressed to rank, pari passu with claims in respect of the Notes and/or any Parity Obligation.

  • Subordinated Obligation means any Indebtedness of the Company (whether outstanding on the Issue Date or thereafter Incurred) that is subordinated or junior in right of payment to the Notes pursuant to a written agreement.

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).

  • Junior Obligation means the Shares, and any other class of the Issuer’s share capital and any instrument or other obligation (including without limitation any preference shares) issued or guaranteed by the Issuer that ranks or is expressed to rank junior to the Capital Securities by operation of law or contract.