Trust Preferred Securities Transaction means a transaction pursuant to which (i) a Borrower (or any Subsidiary of a Borrower) issues unsecured, subordinated, Debt Securities to, or borrows on an unsecured, subordinated basis from, any trust or other entity that, as its primary purpose, provides financing to a Borrower (or any Subsidiary of a Borrower) (a “Trust Preferred Financing Vehicle”; such indebtedness of a Borrower or any of its Subsidiaries owing to a Trust Preferred Financing Vehicle, “Trust Preferred Indebtedness”) and (ii) the Trust Preferred Financing Vehicle funds such financing of such Borrower (or such Subsidiary of a Borrower) by issuing and selling preferred securities having a mandatory redemption date no earlier than 30 years and not subject to redemption in less than 5 years from the date of their issuance (other than at the option of a Borrower or applicable Subsidiary upon the occurrence of a Special Event) (“Trust Preferred Securities”), which securities may be guaranteed on an unsecured, subordinated basis by such Borrower or such Subsidiary to the extent that the trustee has failed to make distributions from payments received from such Borrower or such Subsidiary (each such guaranty, a “Trust Preferred Guaranty”, collectively, “Trust Preferred Guarantees”).
Trust Preferred Securities Transaction means the transactions leading to the issuance of the Trust Preferred Securities, including the formation of the Trust, the issuance of the Trust Guaranty and the issuance of the Trust Preferred Securities.
Trust Preferred Securities Transaction means the transactions leading to the issuance of the Trust Preferred Securities, including the formation of
Examples of Trust Preferred Securities Transaction in a sentence
The parties agree that the Note fits within category (i).The Note provides as follows:The indebtedness evidenced hereby, including the principal and interest on this Note, shall be subordinate to the [Debtor’s] indebtedness arising in connection with the junior subordinated debt securities issued in connection with that certain Trust Preferred Securities Transaction in the amount of $7,250,000 dated December 22, 2006.(Doc.
More Definitions of Trust Preferred Securities Transaction
Trust Preferred Securities Transaction means a transaction pursuant to which (i) the Borrower (or any Subsidiary) issues unsecured, subordinated, Debt Securities to, or borrows on an unsecured, subordinated basis from, any trust or other entity that, as its primary purpose, provides financing to the Borrower (or any Subsidiary) (a “Trust Preferred Financing Vehicle”; such indebtedness of the Borrower or any of its Subsidiaries owing to a Trust Preferred Financing Vehicle, “Trust Preferred Indebtedness”) and (ii) the Trust Preferred Financing Vehicle funds such financing of the Borrower (or such Subsidiary) by issuing and selling preferred securities having a mandatory redemption date no earlier than 30 years and not subject to redemption in less than 5 years from the date of their issuance (other than at the option of the Borrower or applicable Subsidiary upon the occurrence of a Special Event) (“Trust Preferred Securities”), which securities may be guaranteed on an unsecured, subordinated basis by the Borrower or such Subsidiary to the extent that the trustee has failed to make distributions from payments received from the Borrower or such Subsidiary (each such guaranty, a “Trust Preferred Guaranty”, collectively, “Trust Preferred Guarantees”).