Trust Preferred Stock definition

Trust Preferred Stock means any trust preferred securities issued by a subsidiary capital trust established by the Borrower or any of its Subsidiaries reflected in the consolidated financial statements of the Borrower and its Subsidiaries, along with any junior subordinated debt obligations of the Borrower or its Subsidiaries so long as (i) the terms thereof require no repayments or prepayments and no mandatory redemptions or repurchases, in each case, prior to at least 91 days after the occurrence of the Maturity Date and the repayment in full of the Outstanding Credits and all other amounts due under this Agreement, (ii) such securities are subordinated and junior in right of payment to all obligations of the Borrower or any of its Subsidiaries for or in respect of borrowed money and (iii) the obligors in respect of such preferred securities and subordinated debt have the right to defer interest and dividend payments on similar terms customary for trust preferred securities and not materially less favorable to the interests of the Borrower or the Lenders.

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Trust Preferred Stock means the 7% Convertible Preferred Securities, Term Income Deferrable Equity Securities issued by the Trust Subsidiary.

Trust Preferred Stock means Dayton Trust's preferred securities issued pursuant to the Trust Agreement.

Examples of Trust Preferred Stock in a sentence

• Notwithstanding the foregoing, this Section shall not prohibit the acquisition, repurchase, exchange, conversion, redemption or other retirement for value by the Company of Debentures in accordance with this Indenture or of any shares of Trust Preferred Stock.

• Certificates representing shares of Company Common Stock and Company Preferred Stock before the Merger will represent the Trust Common Stock and the Trust Preferred Stock, respectively, after the Merger and it will not be necessary for stockholders of the Company to surrender or exchange their existing stock certificates for new stock certificates.

• Maker shall not, directly or indirectly, be liable for, create, assume, incur or permit to exist any senior indebtedness whether as primary obligor, guarantor, surety or otherwise, including, without limitation, purchase money indebtedness except (a) indebtedness in favor of the Bank, (b) indebtedness for liens for taxes or other governmental charges incurred in the ordinary course of business; and (c) debt created by the issuance of additional shares of Trust Preferred Stock.

• No Loan Party shall make any amendment to or other modification of the Trust Preferred Stock Debentures, the Trust Preferred Securities or the Trust Preferred Stock Indenture, which is adverse in any material respect to the interest of the Lenders.

• Trust Preferred Stock and any other trust preferred securities issued by special purpose trusts.

• Except for the $12,000,000 of Trust Preferred Stock issued by Summit Bancshares, Inc.

• The definition of the term "Liabilities" and --------------------- the parties' understanding of the terms "indebtedness" and "borrowed money" as set forth in Section 1.15.2 and used in Sections 7.1 and 7.5 of the 1998 Loan Agreement, are hereby modified to exclude the liabilities of the Borrower under the terms of the Preferred Stock or Trust Preferred Stock, provided that the same are treated as "minority interests" under the generally accepted accounting principles as consistently applied.

• Notwithstanding the foregoing, (i) any Borrower or any Subsidiary Guarantor may declare and/or make Distributions to any Borrower and (ii) the Gentiva Trust may make regularly scheduled dividend payments (either in cash or in-kind) to the holders of the Convertible Trust Preferred Stock according to the terms of the documents governing the Convertible Trust Preferred Stock.

• Manager shall, on a monthly basis, provide sales and occupancy reports to Owner, as well as the results of the annual resident satisfaction survey.

• Permit any amendment to or modification of the Trust Preferred Stock Debentures, the Trust Preferred Securities or the Trust Preferred Stock Indenture, which is adverse to the interests of the Lenders.

More Definitions of Trust Preferred Stock

Trust Preferred Stock means $100,000,000 of 9% trust preferred securities of Sovereign Capital Trust I due April 1, 2027; $50,000,000 of 9.875% trust preferred securities of ML Capital Trust I due March 1, 2027; and $287,500,000 of 7.50% trust preferred securities issued by Sovereign Capital Trust II.

Trust Preferred Stock means the 7% Convertible Preferred Securities, Term Income Deferrable Equity Securities, issued by Carriage Services Capital Trust.

Trust Preferred Stock means $100,000,000 of 9% trust preferred securities of Sovereign Capital Trust I Due April 1, 2027, $50,000,000 of 9.875% trust preferred securities of ML Capital Trust I Due March 1, 2027, and $287,500,000 of 7.50% trust preferred securities issued by Sovereign Capital Trust II due January 15, 2030.

Trust Preferred Stock means the 7% Convertible Preferred Securities, Term Income Deferrable Equity Securities issued by the Trust Subsidiary. “Trust Reserves” means, at the time of any determination thereof, in connection with the Trust Accounts, the aggregate of all amounts required by

Trust Preferred Stock means preferred stock issued by a Trust Preferred Subsidiary.