Parity Securities definition

Parity Securities has the meaning specified therefor in Section 2.02(b) of this Agreement.

Parity Securities has the meaning set forth in Section 2.

Parity Securities shall have the meaning set forth in Section 5(a).

Examples of Parity Securities in a sentence

• This will be paid in proportion to the dividends and other amounts which would have been due on the Preference Shares and any other shares and other instruments of the Company on such Dividend Payment Date which are expressed to rank equally with the Preference Shares as regards participation in profits (including any arrears of dividends and other amounts on any such Parity Securities which have rights to cumulative dividends or other amounts) if there had been sufficient profit.

• If, upon any return of capital or distribution of assets, the amounts available for payment are insufficient to cover the amounts payable in full on the Preference Shares and any Parity Securities and the 2004 Preference Shares, the holders of the Preference Shares and the holders of such Parity Securities and the 2004 Preference Shares will share rateably in the distribution of surplus assets (if any) of the Company in proportion to the full amounts to which they are respectively entitled.

• The Securities and Coupons relating to them constitute direct, unsecured and subordinated obligations of the Issuer and rank and will at all times rank pari passu and without any preference among themselves and with the Issuer’s payment obligations in respect of any Parity Securities.

• The obligations of the Guarantor under the Guarantee constitute direct, unsecured and subordinated obligations of the Guarantor and rank pari passu and without any preference or priority among themselves and with any Parity Securities of the Guarantor.

• Neither the Bank nor any Subsidiary may issue, or guarantee the issue of, any Parity Securities or other instruments equivalent to Parity Securities ranking, either directly or through a guarantee, senior to the Preferred Securities, unless the terms and conditions of the Preferred Securities are amended so as to rank pari passu with any such issue of senior securities.

More Definitions of Parity Securities

Parity Securities has the meaning set forth in Section 16.7(b).

Parity Securities means, unless the holders of some or all of the following securities are Senior Creditors by virtue of paragraph (b) of the definition of “Senior Creditors”, (i) any preference shares in the capital of the Issuer from time to time and any other securities of the Issuer ranking, or expressed to rank, pari passu with the Securities and/or such preference shares in a winding-up or administration of the Issuer as described in Condition 4(b) and/or (ii) any securities issued by any other member of the Group where the terms of the securities benefit from a guarantee or support agreement entered into by the Issuer which ranks or is expressed to rank pari passu with the Securities and/or such preference shares in a winding-up or administration of the Issuer as described in Condition 4(b);

Parity Securities means any preference shares, securities or other obligations (including any guarantee, credit support or similar undertaking) of the Issuer ranking, or expressed to rank, pari passu with the Securities in a winding-up or administration of the Issuer.

Parity Securities shall have the meaning specified in Section 3.01(b) hereof.

Parity Securities means any class or series of capital stock, the terms of which expressly provide that such class ranks pari passu with the Series B Convertible Preferred Stock as to dividend rights and rights on the distribution of assets on any Liquidation, and includes the Series B Convertible Preferred Stock.

Parity Securities means, (i) the most senior ranking class or classes of preference shares in our capital from time to time and any other of our securities ranking, or expressed to rank, pari passu with the Securities and/or such senior preference shares in our winding-up or administration as described under “—Subordination,” and/or (ii) any securities issued by any other member of the HSBC Group where the terms of such securities benefit from a guarantee or support agreement entered into by us which ranks or is expressed to rank pari passu with the Securities and/or such senior preference shares in our winding-up or administration as described under “—Subordination.”

Parity Securities means, collectively, the Parity Guarantees, the Parity Preferred Shares and the Parity Subsidiary Securities.