Examples of Common Securities Guarantee Agreement in a sentence
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If an event of default under the Indenture has occurred and is continuing, the rights of holders of the Common Securities to receive payments under the Common Securities Guarantee Agreement are subordinated to the rights of Holders of Preferred Securities to receive Guarantee Payments.
The Common Securities Guarantee Agreement constitutes a valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except to the extent that enforcement thereof may be limited by the Permitted Exceptions.
With respect to the holders of Preferred Securities, the Common Guarantee Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article, and no implied covenants or obligations with respect to the holders of Preferred Securities shall be read into this Common Securities Guarantee Agreement against the Common Guarantee Trustee.
The Universal Senior Indenture, Universal Subordinated Indenture, XL Finance Senior Debt Indenture, Subordinated Deferrable Interest Debenture Indenture, Supplemental Subordinated Deferrable Interest Debenture Indenture, Common Securities Guarantee Agreement, Preferred Securities Guarantee Agreement, Declaration of Trust, Amended and Restated Declaration of Trust and Certificate of Trust are hereinafter sometimes together referred to as the "Documents" and singly a "Document".
If an Indenture Event of Default has occurred and is continuing, the rights of holders of the Common Securities to receive Guarantee Payments under this Common Securities Guarantee Agreement are subordinated to the rights of Holders of Preferred Securities to receive Preferred Guarantee Payments under the Preferred Securities Guarantee Agreement, as set forth in Article IX.
XL CAPITAL LTD has caused this Common Securities Guarantee Agreement to be duly executed as a deed the day and year first before written.
If an Event of Default under the Indenture has occurred and is continuing, the rights of holders of the Common Securities to receive payments under the Common Securities Guarantee Agreement are subordinated to the rights of Holders of Preferred Securities to receive Guarantee Payments.
The Holder is entitled to the benefits of the Common Securities Guarantee Agreement dated as of December 30, 1996, as the same may be amended from time to time (the "Common Guarantee").
If an Event of Default has occurred and is continuing under the Declaration, the rights of the holders of the Common Securities to receive any payments under the Common Securities Guarantee Agreement shall be subordinated to the rights of the Holders of Capital Securities to receive Guarantee Payments hereunder.