Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 9 contracts
Samples: Indenture Indenture (Pennfirst Capital Trust I), Bankunited Capital Ii, Bankunited Capital Iii
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 6 contracts
Samples: Peoples Bancshares Inc, Peoples Bancshares Inc, Sbi Capital Trust
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1; (ii) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of is in default with respect to its election to defer payments of interest on such Debentures by extending obligations under the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuingPreferred Securities Guarantee, then (a) the Company may will not, and may will not permit any Subsidiary to, declare or pay any dividend dividends or distributions on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its the Company's capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of its capital stock, ; (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall will not, and will not permit any Subsidiary to, make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 6 contracts
Samples: Indenture Indenture (Pennfirst Capital Trust I), Pittsburgh Home Capital Trust I, Fidelity Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock into another class of its capital stock); and (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu PARI PASSU with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks PARI PASSU with or junior in interest to the Debentures; providedPROVIDED, howeverHOWEVER, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 6 contracts
Samples: Indenture (Independent Bank Corp), Indenture (Independent Bank Corp), Indenture (Independent Capital Trust Iii)
Limitation on Transactions. If Debentures are issued (a) the Company shall exercise its right to the Trust defer payment of interest as provided in Section 4.1; or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ib) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its Subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock for another class of its capital stock, (D) dividends or distributions made by a Subsidiary to the Company, or (E) dividends or distributions made by a Subsidiary to a Subsidiary); (bii) neither the Company nor any Subsidiary shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company or any Subsidiary which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of any debt securities if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 5 contracts
Samples: Indenture (S Y Bancorp Inc), Indenture (S Y Bancorp Inc), Stifel Financial Corp
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ia) there shall have occurred any event that would constitute and be continuing an Event of Default; (iib) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iiic) if the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its Subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock, or (D) dividends or distributions made by a Subsidiary to the Company, or (E) dividends or distributions made by a Subsidiary to a Subsidiary); (bii) neither the Company nor any Subsidiary shall not make any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company or any Subsidiary which rank pari passu with or junior in interest to the Debentures or make any guarantee payments with respect to any guarantee by the Company of any debt securities if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 5 contracts
Samples: Indenture (S Y Bancorp Inc), Indenture (S Y Bancorp Inc), Stifel Financial Corp
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the as a result of a reclassification of any class of the Company's capital stock into another class of its capital stock, (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 5 contracts
Samples: Indenture (Eagle Bancshares Inc), Premier Bancshares Inc /Ga, Eagle Bancshares Inc
Limitation on Transactions. If Debentures are issued to the Trust or a trustee Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock); and (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 5 contracts
Samples: Indenture (Private Bancorp Capital Trust I), Indenture (Private Bancorp Capital Trust I), Southside Capital Trust Ii
Limitation on Transactions. If Debentures are issued (a) the Company shall exercise its right to the Trust defer payment of interest as provided in Section 4.1; or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ib) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its Subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stockCompany or such Subsidiary, (3) as the case may be, or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock for another class of its capital stock or (D) dividends payable by such Subsidiary to the Company or any of its Subsidiaries); (bii) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 4 contracts
Samples: First Busey Capital Trust I, Team Financial Capital Trust I, Baylake Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the as a result of a reclassification of any class of the Company's capital stock into another class of its capital stock, (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); and (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 4 contracts
Samples: Wintrust Capital Trust I, Wintrust Capital Trust I, Mbhi Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ia) there shall have occurred any event that would constitute an Event of Default; (iib) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iiic) if the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its Subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stockCompany or such Subsidiary, (3) as the case may be, or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock or (D) dividends payable by such Subsidiary to the Company or any of its Subsidiaries); (bii) the Company shall not make any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 3 contracts
Samples: Baylake Capital Trust I, First Busey Capital Trust I, Baylake Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company Corporation shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company Corporation shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, Corporation will not and may will not permit any Subsidiary to, to declare or pay any dividend dividends or distributions on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its the Corporation's capital stock (other than (1) the reclassification of any class of the CompanyCorporation's capital stock into another class of its capital stock, ; (2) dividends or distributions payable in any class of the CompanyCorporation's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall Corporation will not and will not permit any Subsidiary to make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company Corporation (including Other Debentures) which rank pari passu with or junior to the Debentures; or make any guarantee payments with respect to any guarantee by the Corporation of the debt securities of any Subsidiary of the Corporation if such guarantee ranks pari passu with or is junior to the Debentures; provided, however, that notwithstanding the Company foregoing the Corporation may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company Corporation shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 3 contracts
Samples: Southern Community Financial Corp, Southern Community Capital Trust I, Southern Community Financial Corp
Limitation on Transactions. If Debentures are issued to the Trust or a trustee Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Trust Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may shall not, and may will not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the as a result of a reclassification of any class of the Company's its capital stock into another class of capital stock, or (2) declarations or payments of dividends or distributions payable in any class on capital stock by a Subsidiary of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of Company to the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not, and will not permit any Subsidiary to, make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; (c) the Company shall not make any guarantee payments with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Trust Preferred Securities Guarantee; and (cd) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Trust Preferred Securities.
Appears in 3 contracts
Samples: Indenture (Paradigm Capital Trust Ii), Indenture (Paradigm Capital Trust Ii), Prosperity Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company Corporation shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company Corporation shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, Corporation will not and may will not permit any Subsidiary to, to declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its Corporation's capital stock (other than (1) the reclassification of any class of the CompanyCorporation's capital stock into another class of capital stock, (2) dividends or distributions payable in any class of the CompanyCorporation's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall Corporation will not and will not permit any Subsidiary to make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company Corporation (including Other Debentures) which rank pari passu with or junior to the Debentures; or make any guarantee payments with respect to any guarantee by the Corporation of the debt securities of any Subsidiary of the Corporation if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that that, notwithstanding the Company foregoing the Corporation may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company Corporation shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 3 contracts
Samples: Southern Community Financial Corp, Southern Community Financial Corp, Southern Community Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Capital Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, shall not and may will not permit any Subsidiary to, to declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1I) the as a result of a reclassification of any class of the Company's its capital stock into another class or (II) declarations or payments of capital stock, (2) dividends or distributions payable in any class on capital stock by a Subsidiary of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of Company to the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); and (b) the Company shall not and will not permit any Subsidiary to make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Capital Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Capital Securities.
Appears in 2 contracts
Samples: Heartland Financial Capital Trust I, Colorado Business Bankshares Capital Trust I
Limitation on Transactions. If Debentures are issued (a) the Company shall exercise its right to the Trust defer payment of interest as provided in Section 18.1; or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ib) there shall have occurred any event that would constitute an Event of Default; , then (iii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (bii) the Company shall not make any payment of interest, principal or of (and premium, if any, ) or interest on or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior in interest to the DebenturesDebt Securities of a series issued under this Indenture; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the applicable Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures Outstanding Debt Securities of such series or any of the Preferred Securities associated with such Debt Securities.
Appears in 2 contracts
Samples: Reinsurance Group of America Inc, Rga Capital Trust Ii
Limitation on Transactions. If Debentures are issued with Shareholders and ------------------------------------------------ Affiliates. ---------- The Company will not, and will not permit any Restricted Subsidiary to, directly or indirectly, enter into, renew or extend any transaction (including, without limitation, the purchase, sale, lease or exchange of property or assets, or the rendering of any service) with any holder (or any Affiliate of such holder) of 5% or more of the aggregate value of the Capital Stock of the Company or with any Affiliate of the Company or any Restricted Subsidiary, except upon fair and reasonable terms no less favorable to the Trust Company or such Restricted Subsidiary than could be obtained, at the time of such transaction or, if such transaction is pursuant to a trustee written agreement, at the time of the Trust execution of the agreement providing therefor, in connection a comparable arm's-length transaction with the issuance of Trust Securities by the Trust a Person that is not such a holder or an Affiliate. The foregoing limitation does not limit, and shall not apply to (i) there shall have occurred any event transactions (A) approved by a majority of the disinterested members of the Board of Directors or (B) for which the Company or a Restricted Subsidiary delivers to the Trustee a written opinion of a nationally recognized investment banking firm stating that would constitute an Event the transaction is fair to the Company or such Restricted Subsidiary from a financial point of Defaultview; (ii) any transaction solely between the Company shall be in default with respect to and any of its payment of any obligations under the Preferred Securities Guarantee relating to the TrustWholly Owned Restricted Subsidiaries or solely between Wholly Owned Restricted Subsidiaries; or (iii) the payment of reasonable and customary regular fees to directors of the Company shall have given notice who are not employees of its election the Company; (iv) any payments or other transactions pursuant to defer payments any tax-sharing agreement between the Company and any other Person with which the Company files a consolidated tax return or with which the Company is part of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then a consolidated group for tax purposes; (av) the Company may not, and may not permit any Subsidiary to, declare payment of fees to Xxxxxxx Xxxxx or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock Affiliates for consulting, investment banking or financial advisory services rendered by such Person to the Company or any of its Subsidiaries; (other than vi) loans or advances to officers and employees of the Company and its Restricted Subsidiaries made in the ordinary course of business; provided that the aggregate amount of such loans or advances outstanding at any time shall not exceed $1 million; (1vii) any Restricted Payments not prohibited by Section 1009 or (viii) transactions pursuant to agreements in effect on the reclassification of any class of Closing Date that are referred to in the Company's capital stock into another class of capital stock, (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection filings with the implementation Commission. Notwithstanding the foregoing, any transaction or series of a shareholder rights planrelated transactions covered by the first paragraph of Section 1011 and not covered by clauses (ii) through (viii) of this paragraph, the aggregate amount of which exceeds $5 million in value, must be approved or the issuance of stock under any such plan determined to be fair in the future, manner provided for in clause (i)(A) or the redemption or repurchase of any such rights pursuant thereto, (4B) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securitiesabove.
Appears in 2 contracts
Samples: United Artists Theatre Co, United Artists Theatre Co
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ia) there shall have occurred any event that would constitute and be continuing an Event of Default; (iib) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iiic) if the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its Subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's ’s benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock, or (D) dividends or distributions made by a Subsidiary to the Company, or (E) dividends or distributions made by a Subsidiary to a Subsidiary); (bii) neither the Company nor any Subsidiary shall not make any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company or any Subsidiary which rank pari passu with or junior in interest to the Debentures or make any guarantee payments with respect to any guarantee by the Company of any debt securities if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 2 contracts
Samples: Indenture (Tompkins Financial Corp), S.Y. Bancorp Capital Trust II
Limitation on Transactions. If Debentures are issued to the Trust or a trustee the Property Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Trust Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may shall not, and may will not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the as a result of a reclassification of any class of the Company's its capital stock into another class of capital stock, or (2) declarations or payments of dividends or distributions payable in any class on capital stock by a Subsidiary of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of Company to the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not, and will not permit any Subsidiary to, make any payment of interest, ,principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; (c) the Company shall not make any guarantee payments with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Trust Preferred Securities Guarantee; and (cd) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Trust Preferred Securities.
Appears in 2 contracts
Samples: Front Range Capital Trust I, Front Range Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Corporation shall exercise its right to defer payment of interest as provided in Section 4.1; (ii) there shall have occurred any event that would constitute an Event of DefaultDefault that is continuing; or (iiiii) the Company shall be Corporation is in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuingGuarantee, then (a) the Company may not, and may Corporation will not permit any Subsidiary to, declare or pay any dividend dividends or distributions on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its the Corporation's capital stock (other than (1) the reclassification of any class of the CompanyCorporation's capital stock into another class of its capital stock, ; (2) dividends or distributions payable in any class of the CompanyCorporation's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the CompanyCorporation's common stock related to the rights under any of the CompanyCorporation's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall Corporation will not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company Corporation which rank pari passu with or junior to the Debentures; provided, however, that notwithstanding the Company foregoing the Corporation may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company Corporation shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 2 contracts
Samples: Metropolitan Capital Trust I, Metropolitan Financial Corp /Oh/
Limitation on Transactions. If Debentures are issued to the Trust or a trustee Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employeesemployees or a dividend reinvestment plan, or (C) as a result of a reclassification of its capital stock for another class of its capital stock, or the exchange or conversion of any one class or series of the Company's capital stock for another class or series of the Company's capital stock pursuant to the conversion or exchange provisions that capital stock or purchases of fractional interests in shares of the Company's capital stock pursuant to the conversion or exchange provisions of that capital stock or the security being converted or exchanged, purchases of fractional interests in shares of the Company's capital stock issued or issuable to the stockholders of an unaffiliated third party and payments made in respect of not more than ten percent (10%) of the outstanding shares of the Company's capital stock held by shareholders of the Company who exercise dissenters' rights required to be afforded by them by applicable law, in each case pursuant to a merger, consolidation or other business combination with an unaffiliated third party in an arm's-length transaction entered into in good faith); and (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 2 contracts
Samples: Second Bancorp Incorporated (Second Bancorp Inc), Second Bancorp Inc
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ia) there shall have occurred any event that would constitute an Event of Default; (iib) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iiic) if the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its Subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stockCompany or such Subsidiary, (3) as the case may be, or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); , (bC) the Company shall not make any payment as a result of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; provided, however, that the Company may make payments pursuant to a reclassification of its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.capital stock or
Appears in 2 contracts
Samples: Team Financial Capital Trust I, Old Second Bancorp Inc
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend dividends or distributions on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2i) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder shareholders' rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5ii) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not make any payment of interestprincipal, principal interest or premium, if any, on or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 2 contracts
Samples: 1st Source Corp, 1st Source Corp
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ia) there shall have occurred any event that would constitute and be continuing an Event of Default; (iib) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iiic) if the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock, or (D) dividends or distributions made by a subsidiary of the Company, provided that such dividends or distributions are necessary in order for such subsidiary to qualify as a "real estate investment trust" under Sections 856 and 857 of the Code or are made to the Company or to any subsidiary of the Company); (bii) the Company shall not make make, or allow any of its subsidiaries to make, any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with (including the Company's Floating Rate Junior Subordinated Deferrable Interest Debentures due 2028 issued to Coal City Capital Trust I) or junior in interest to the Debentures or make, or allow any of its subsidiaries to make, any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 2 contracts
Limitation on Transactions. If Debentures are issued to the Trust or a trustee Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock into another class of its capital stock); and (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 2 contracts
Samples: R&g Financial Corp, R&g Capital Trust V
Limitation on Transactions. If Debentures are issued (a) the Company shall exercise its right to the Trust defer payment of interest as provided in Section 4.1; or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ib) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash 24 dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock for another class of its capital stock, or (D) dividends or distributions made by a subsidiary of the Company, provided that such dividends or distributions are necessary in order for such subsidiary to qualify as a "real estate investment trust" under Sections 856 and 857 of the Code or are made to the Company or to any subsidiary of the Company); (bii) the Company shall not make make, or allow any of its subsidiaries to make, any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with (including the Company's Floating Rate Junior Subordinated Deferrable Interest Debentures due 2028 issued to Coal City Capital Trust I) or junior to the Debentures or make, or allow any of its subsidiaries to make, any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 2 contracts
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not make any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 2 contracts
Samples: Matrix Bancorp Capital Trust I, Matrix Bancorp Capital Trust I
Limitation on Transactions. If Debentures are issued to the -------------------------- Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ia) there shall have occurred any event that would constitute and be continuing an Event of Default; (iib) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iiic) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its Subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock, or (D) dividends or distributions made by a Subsidiary to the Company, or (E) dividends or distributions made by a Subsidiary to a Subsidiary); (bii) neither the Company nor any Subsidiary shall not make any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company or any Subsidiary which rank pari passu with or junior in interest to the Debentures or make any guarantee payments with respect to any guarantee by the Company of any debt securities if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 2 contracts
Samples: Abc Bancorp Capital Trust I, Abc Bancorp Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1, or (ii) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuingdefault, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2a) dividends or distributions payable in any class common stock of the Company's common stockcompany, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5b) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, or (c) as a result of a reclassification of its capital stock for another class of its capital stock); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debenturesdebentures or make any guarantee payment with respect to any guarantee by the Company of the debt securities of any subsidiary of the company if such guarantee ranks pari passu with or junior to the debentures; provided, however, that notwithstanding the foregoing, the Company may make payments pursuant to its obligations under the Preferred Securities Guaranteepreferred securities guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures debentures or any of the Preferred Securitiespreferred securities.
Appears in 2 contracts
Samples: Local Financial Corp /Nv, Local Financial Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Corporation shall exercise its right to defer payment of interest as provided in Section 4.1; (ii) there shall have occurred any event that would constitute an Event of DefaultDefault that is continuing; or (iiiii) the Company shall be Corporation is in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuingGuarantee, then (a) the Company may not, Corporation will not and may will not permit any Subsidiary to, to declare or pay any dividend dividends or distributions on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its the Corporation's capital stock (other than (1) the reclassification of any class of the CompanyCorporation's capital stock into another class of its capital stock, ; (2) dividends or distributions payable in any class of the CompanyCorporation's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the CompanyCorporation's common stock related to the rights under any of the CompanyCorporation's stock benefit plans for its or its subsidiariesSubsidiaries' directors, officers or employees); (b) the Company shall Corporation will not and will not permit any Subsidiary to make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company Corporation (including Other Debentures) which rank pari passu with or junior to the Debentures; or make any guarantee payments with respect to any guarantee by the Corporation of the debt securities of any Subsidiary of the Corporation if such guarantee ranks pari passu with or is junior to the Debentures provided, however, that notwithstanding the Company foregoing the Corporation may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company Corporation shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 2 contracts
Samples: Apab Capital Trust I, Crescent Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company Corporation shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company Corporation shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, Corporation will not and may will not permit any Subsidiary to, to declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its Corporation's capital stock (other than (1) the reclassification of any class of the CompanyCorporation's capital stock into another class of capital stock, (2) dividends or distributions payable in any class of the CompanyCorporation's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the CompanyCorporation's common stock related to the rights under any of the CompanyCorporation's stock benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall Corporation will not and will not permit any Subsidiary to make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company Corporation (including Other Debentures) which rank pari passu with or junior to the Debentures; or make any guarantee payments with respect to any guarantee by the Corporation of the debt securities of any subsidiary of the Corporation if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that the Company Corporation may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company Corporation shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 2 contracts
Samples: Crescent Capital Trust I, Apab Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Corporation shall exercise its right to defer payment of interest as provided in Section 4.1; (ii) there shall have occurred any event that would constitute an Event of DefaultDefault that is continuing; or (iiiii) the Company shall be Corporation is in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuingGuarantee, then (a) the Company may not, and may Corporation will not permit any Subsidiary to, declare or pay any dividend dividends or distributions on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its the Corporation's capital stock (other than (1) the reclassification of any class of the CompanyCorporation's capital stock into another class of its capital stock, ; (2) dividends or distributions payable in any class of the CompanyCorporation's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the CompanyCorporation's common stock related to the rights under any of the CompanyCorporation's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall Corporation will not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company Corporation (including Other Debentures) which rank pari passu with or junior to the Debentures; provided, however, that notwithstanding the Company foregoing the Corporation may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company Corporation shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 2 contracts
Samples: Metropolitan Capital Trust Ii, Metropolitan Financial Corp /Oh/
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's ’s benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock); and (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 2 contracts
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company Corporation shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company Corporation shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, Corporation will not and may will not permit any Subsidiary to, to declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its Corporation's capital stock (other than (1) the reclassification of any class of the CompanyCorporation's capital stock into another class of capital stock, (2) dividends or distributions payable in any class of the CompanyCorporation's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the CompanyCorporation's common stock related to the rights under any of the CompanyCorporation's stock benefit plans for its or its subsidiariesSubsidiaries' directors, officers or employees); (b) the Company shall Corporation will not and will not permit any Subsidiary to make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company Corporation (including Other Debentures) which rank pari passu with or junior to the Debentures; or make any guarantee payments with respect to any guarantee by the Corporation of the debt securities of any Subsidiary of the Corporation if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that that, notwithstanding the Company foregoing the Corporation may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company Corporation shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 2 contracts
Samples: Indenture (American Community Bancshares Inc), Carolina Bank Holdings Inc
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company Corporation shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company Corporation shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and Corporation may not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its Corporation's capital stock (other than (1) the reclassification of any class of the CompanyCorporation's capital stock into another class of capital stock, (2) dividends or distributions payable in any class of the CompanyCorporation's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the CompanyCorporation's common stock related to the rights under any of the CompanyCorporation's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company Corporation shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company Corporation which rank pari passu with or junior to the Debentures; provided, however, that the Company Corporation may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company Corporation shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 2 contracts
Samples: Metropolitan Financial Corp /Oh/, Metropolitan Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the combination or reclassification of any class of the Company's capital stock into another class of capital stock or the exchange or conversion of one class of its capital stock for another class or series of its capital stock, (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employeesemployees and (5) purchases by the Company of fractional interests in shares of its capital stock pursuant to the conversion or exchange provisions of the capital stock or the security being converted or exchanged); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Indenture (Bankatlantic Bancorp Inc)
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ia) there shall have occurred any event that would constitute and be continuing an Event of Default; (iib) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iiic) if the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock, or (D) dividends or distributions made by a subsidiary of the Company, provided that such dividends or distributions are necessary in order for such subsidiary to qualify as a "real estate investment trust" under Sections 856 and 857 of the Code); (bii) the Company shall not make any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Great Southern Bancorp Inc
Limitation on Transactions. If Debentures are issued to the Trust or a trustee Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock); and (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures (including without limitation the Company's 9.25% Subordinated Debentures due 2027, issued to IFC Capital Trust I, the Company's 10.50% Subordinated Debentures due 2030 issued to IFC Capital Trust II, the Company's 8.75% Convertible Subordinated Debentures due 2030 issued to IFC Capital Trust III, the Company's 10.25% Subordinated Debentures due 2031 issued to IFC Capital Trust IV, and the Company's 9.95% Subordinated Debentures due 2031 issued to IFC Capital Trust V) or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Ifc Capital Trust Vi
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 5.1, or (ii) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock for another class of its capital stock); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the DebenturesDebentures (including, without limitation, the Company's 8.50% Junior Subordinated Debentures due 2028, issued to Southside Capital Trust I) or make any guarantee payment with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures (including, without limitation, the Company's 8.50% Junior Subordinated Debentures due 2028, issued to Southside Capital Trust I); provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Southside Capital Trust Ii
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ia) there shall have occurred any event that would constitute an Event of Default; (iib) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iiic) if the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then (ai) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of 22 29 the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (bii) the Company shall not make any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to -------- ------- its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: First America Capital Trust
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then (a) neither the Company may not, and may not permit nor any Subsidiary to, of its Subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stockCompany or such Subsidiary, (3) as the case may be, or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees), (C) as a result of a reclassification of its capital stock, or (D) dividends payable by such Subsidiary to the Company or any of its Subsidiaries; (b) the Company shall not make any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with (including without limitation the Company's 9.25% Subordinated Debentures due 2027 issued to First Preferred Capital Trust I) or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: First Preferred Capital Trust Ii
Limitation on Transactions. If Debentures are issued to the Trust or a trustee Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock); and (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with (including without limitation the Company's 9.25% Subordinated Debentures due 2027 issued to IFC Capital Trust I) or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Ifc Capital Trust Ii
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1, or (ii) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock for another class of its capital stock); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures (including without limitation the Company's 9.25% Subordinated Debentures due 2027, issued to IFC Capital Trust I, the Company's 10.50% Subordinated Debentures due 2030 issued to IFC Capital Trust II, the Company's 8.75% Convertible Subordinated Debentures due 2030 issued to IFC Capital Trust III, the Company's 10.25% Subordinated Debentures due 2031 issued to IFC Capital Trust IV, and the Company's 9.95% Subordinated Debentures due 2031 issued to IFC Capital Trust V) or make any guarantee payment with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Ifc Capital Trust Vi
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1, (ii) there shall have occurred and be continuing any event that would constitute an Event of Default; , or (iiiii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) Guarantee, then the Company shall have given notice not, and shall not allow any of its election subsidiaries to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock of the Company or any subsidiary of the Company (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' the directors, officers or employeesemployees of the Company or any of its subsidiaries, (C) as a result of a reclassification of its capital stock for another class of its capital stock or (D) dividends or distributions payable to the Company by any subsidiary of the Company); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company or any subsidiary of the Company which rank pari passu with or junior to the Debentures or make any guarantee payment with respect to any guarantee by the Company or any subsidiary of the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and or (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Taylor Capital Group Inc
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) if the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not make any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Indiana United Bancorp
Limitation on Transactions. If Debentures are issued (a) the Company shall exercise its right to the Trust defer payment of interest as provided in Section 4.1; or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ib) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees), (C) as a result of a reclassification of its capital stock for another class of its capital stock, or (D) dividends or distributions made by a subsidiary of the Company, provided that such dividends or distributions are necessary in order for such subsidiary to qualify as a "real estate investment trust" under Sections 856 and 857 of the Code) or are made to the Company or to any subsidiary of the Company; (bii) the Company shall not make make, or all allow any of its subsidiaries to make, any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make, or allow any of its subsidiaries to make, any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Itla Capital Corp
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1; or (ii) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may not permit any Subsidiary to, declare or pay any dividend dividends or distributions on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its the Company's capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of its capital stock, ; (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall may not, and may not permit any Subsidiary to, make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Bankunited Capital Ii
Limitation on Transactions. If Debentures are issued to the Trust or a trustee Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Capital Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the as a result of a reclassification of any class of the Company's capital stock into another class of its capital stock, (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); and (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Capital Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Capital Securities.
Appears in 1 contract
Samples: Quad City Holdings Inc
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then (a) neither the Company may not, and may not permit nor any Subsidiary to, of its Subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stockCompany or such Subsidiary, (3) as the case may be, or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's ’s benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock, (D) dividends or distributions made by a Subsidiary to the Company, (E) dividends or distributions made by a Subsidiary to a Subsidiary, or (F) as a result of: (i) any exchange or conversion of any class or series of the Company’s capital stock (or any capital stock of a Subsidiary or Affiliate of the Company) for any class or series of the Company’s capital stock (or any capital stock of a Subsidiary or Affiliate of the Company); or (ii) any exchange or conversion of any class or series of the Company’s indebtedness ranking pari passu with or junior to the Debentures for any class or series of the Company’s capital stock (or any capital stock of a Subsidiary or Affiliate of the Company); (b) neither the Company nor any Subsidiary shall not make any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company or any Subsidiary which rank pari passu with (including without limitation the Company’s 9.25% Subordinated Debentures due 2027 issued to First Preferred Capital Trust I, the Company’s 10.24% Subordinated Debentures due 2030 issued to First Preferred Capital Trust II, the Company’s 9.00% Subordinated Debentures due 2031 issued to First Preferred Capital Trust III, the Company’s Floating Rate Junior Subordinated Debt Securities due 2032 issued to First Bank Capital Trust, and the First Banks America, Inc. 8.50% Subordinated Debentures due 2028 issued to First America Capital Trust) or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) , may redeem or otherwise acquire such debt securities corresponding to any trust preferred securities that are beneficially owned by the Company shall not redeemand are surrendered to the appropriate trustee, purchase or and may acquire less than all of the its outstanding Debentures or any of the Preferred Securitiesindebtedness in a transaction described in Section 5.6(a)(F) above.
Appears in 1 contract
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company an Extended Interest Payment Period shall have been declared and be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trustcontinuing; or (iii) the Company shall have given notice of is in default with respect to its election to defer payments of interest on such Debentures by extending obligations under the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuingPreferred Securities Guarantee, then (a) the Company may shall not, and may shall not permit any Subsidiary to, declare or pay any dividend dividends or distributions on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its the Company's capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of its capital stock, ; (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not, and shall not permit any Subsidiary to, make any payment of interestprincipal of, principal or interest or premium, if any, on, or repay, repurchase or redeem redeem, any debt securities issued by the Company which rank pari passu with or junior to the Debentures; (c) the Company shall not make any guarantee payments with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (cd) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Southside Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1, or (ii) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock for another class of its capital stock); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with (including without limitation the Company's 9.00% Subordinated Debentures due 2028 issued to Wintrust Capital Trust I) or junior to the Debentures or make any guarantee payment with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Wintrust Capital Trust Ii
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1; (ii) there shall have occurred any event that would constitute an Event of Default; : or (iiiii) the Company shall be is in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may will not, and may will not permit any Subsidiary to, declare or pay any dividend dividends or distributions on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its the Company's capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of its capital stock, ; (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall will not, and will not permit any Subsidiary to, make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Bankunited Capital Iii
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1, or (ii) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may notshall not declare or pay, and may shall not permit allow any Subsidiary to, of its Subsidiaries to declare or pay pay, any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in common stock of the Company or any class Subsidiary of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock for another class of its capital stock, or (D) payments of dividends or distributions to the Company); (b) the Company shall not make make, or allow any of its Subsidiaries to make, any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payment with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that that, notwithstanding the foregoing, the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: First Merchants Corp
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the as a result of a reclassification of any class of the Company's its capital stock into for another class of its capital stock, (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Mvbi Capital Trust
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.the
Appears in 1 contract
Samples: Southside Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's ’s benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock for another class of its capital stock), or allow any of its Subsidiaries to take any such action with respect to such Subsidiaries’ capital stock (other than payment of dividends or distributions to the Company; (b) the Company shall not make make, or allow any of its Subsidiaries to make, any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; (c) the Company shall not make, or allow any of its Subsidiaries to make, any guarantee payment with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (cd) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Indenture (Bridge Bancorp Inc)
Limitation on Transactions. If Debentures are issued (a) the Company shall exercise its right to the Trust defer payment of interest as provided in Section 4.1; or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ib) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock for another class of its capital stock, or (D) dividends or distributions made by a subsidiary of the Company, provided that such dividends or distributions are necessary in order for such subsidiary to qualify as a "real estate investment trust" under Sections 856 and 857 of the Code); (bii) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Great Southern Bancorp Inc
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event of which the Company has knowledge and has not taken reasonable steps to cure that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend dividends or distributions on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2i) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder shareholders' rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5ii) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not make any payment of interestprincipal, principal interest or premium, if any, on or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Independent Capital Trust
Limitation on Transactions. If Debentures of any series are issued to the a Trust or a trustee Trustee of the a Trust in connection with the issuance of Trust Securities by the such Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the such Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture or any applicable supplement hereto and such period, or any extension thereof, shall be continuing, then (a) the Company may notshall not declare or pay, and may shall not permit allow any Subsidiary to, of its Subsidiaries to declare or pay pay, any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in common stock of the Company or any class Subsidiary of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock into another class of its capital stock, or (D) payments of dividends or distributions to the Company); and (b) the Company shall not make make, and shall not allow any of its Subsidiaries to make, any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the DebenturesDebentures of such series or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures of such series; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities GuaranteeGuarantee relating to such Trust; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures of such series or any of the Preferred SecuritiesSecurities relating to such Trust.
Appears in 1 contract
Samples: First Merchants Corp
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ia) there shall have occurred any event that would constitute an Event of Default; (iib) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iiic) if the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then (ai) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (bii) the Company shall not make any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Indenture (Intrust Financial Corp /)
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1; (ii) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of is in default with respect to its election to defer payments of interest on such Debentures by extending obligations under the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, Preferred Securities Guarantee then (a) the Company may will not, and may will not permit any Subsidiary to, declare or pay any dividend dividends or distributions on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its the Company's capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of its capital stock, ; (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall will not, and will not permit any Subsidiary to, make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Bankunited Capital Ii
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ia) there shall have occurred any event that would constitute and be continuing an Event of Default; (iib) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iiic) if the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees), (C) as a result of a reclassification of its capital stock, or (D) dividends or distributions made by a subsidiary of the Company, provided that such dividends or distributions are necessary in order for such subsidiary to qualify as a "real estate investment trust" under Sections 856 and 857 of the Code) or made to the Company or to any subsidiary of the Company; (bii) the Company shall not make make, or allow any of its subsidiaries to make, any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior in interest to the Debentures or make, or allow any of its subsidiaries to make, any guarantee payment with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.. 27NEXT PAGE
Appears in 1 contract
Samples: Itla Capital Corp
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 5.1, or (ii) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class shares of, or options, warrants or rights to subscribe for or purchase shares of, common stock of the Company's common stock, (3) or any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employeesemployees or any of the Company's dividend reinvestment plans, (C) purchases of fractional interests in shares of the Company's capital stock pursuant to the conversion or exchange provisions of the Company's capital stock or the security being converted or exchanged or (D) as a result of a reclassification of its capital stock or the exchange or conversion of one class or series of capital stock of the Company for another class of its capital stock); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities (including other debentures) issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payment with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company (including other guarantees) if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Americredit Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1; or (ii) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2i) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5ii) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that -------- ------- notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Intrust Capital Trust
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1, or (ii) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock for another class of its capital stock); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures (including without limitation the Company's 9.25% Subordinated Debentures due 2026, issued to IBC Capital Finance, a Delaware statutory trust or make any guarantee payment with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing, the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Independent Bank Corp /Mi/
Limitation on Transactions. If Debentures are issued to the -------------------------- Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ia) there shall have occurred any event that would constitute and be continuing an Event of Default; , (iib) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; Trust or (iiic) if the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then then: (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its Subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock, (D) dividends or distributions made by a Subsidiary to the Company or (E) dividends or distributions made by a Subsidiary to a Subsidiary); (bii) neither the Company nor any Subsidiary shall not make any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company or any Subsidiary which rank pari passu with or junior in interest to the Debentures; Debentures or make any guarantee payments with respect to any guarantee by the Company of any debt securities if such guarantee ranks pari passu with or junior in interest to the Debentures (provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Securities) Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Ctbi Preferred Capital Trust Ii
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1, or (ii) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock for another class of its capital stock); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with (including without limitation the Company's 9.00% Subordinated Debentures due 2028, issued to Wintrust Capital Trust I, the Company's 10.50% Subordinated Debentures due 2030 issued to Wintrust Capital Trust II, the Company's LIBOR plus 3.25% Subordinated Debentures due 2033 issued to Wintrust Capital Trust III, the Company's LIBOR plus 2.80% Subordinated Debentures due 2033 issued to Wintrust Statutory Trust IV, and the Company's LIBOR plus 2.60% Subordinated Debentures due 2034 issued to Wintrust Statutory Trust V) or junior to the Debentures or make any guarantee payment with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Wintrust Capital Trust VI
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1; or (ii) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) neither the Company may not, and may not permit nor any Subsidiary to, of its Subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stockCompany or such Subsidiary, (3) as the case may be, or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's ’s benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock for another class of its capital stock, (D) dividends or distributions made by a Subsidiary to the Company, (E) dividends or distributions made by a Subsidiary to a Subsidiary, or (F) as a result of: (i) any exchange or conversion of any class or series of the Company’s capital stock (or any capital stock of a Subsidiary or Affiliate of the Company) for any class or series of the Company’s capital stock (or any capital stock of a Subsidiary or Affiliate of the Company); or (ii) any exchange or conversion of any class or series of the Company’s indebtedness ranking pari passu with or junior to the Debentures for any class or series of the Company’s capital stock (or any capital stock of a Subsidiary or Affiliate of the Company); (b) neither the Company nor any Subsidiary shall not make any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company or any Subsidiary which rank pari passu with (including without limitation the Company’s 9.25% Subordinated Debentures due 2027 issued to First Preferred Capital Trust I, the Company’s 10.24% Subordinated Debentures due 2030 issued to First Preferred Capital Trust II and the Company’s 9.00% Subordinated Debentures due 2031 issued to First Preferred Capital Trust III) or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) , may redeem or otherwise acquire any such debt securities corresponding to trust preferred securities that are beneficially owned by the Company and are surrendered to the appropriate trustee, and may acquire its outstanding indebtedness in a transaction described in Section 4.3(a)(F) above. The term “capital stock” as used in this Indenture shall not redeeminclude the 8.50% Subordinated Debentures due 2028 issued by First Banks America, purchase Inc. to First America Capital Trust or acquire less than all of the outstanding Debentures or any of the 8.50% Cumulative Trust Preferred SecuritiesSecurities issued by First America Capital Trust.
Appears in 1 contract
Limitation on Transactions. If Debentures are issued to the Trust or a trustee Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock); and (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with (including without limitation the Company's 9.00% Subordinated Debentures due 2028 issued to Wintrust Capital Trust I) or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Wintrust Capital Trust Ii
Limitation on Transactions. If Debentures are issued (a) the Company shall exercise its right to the Trust defer payment of interest as provided in Section 4.1; or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ib) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its Subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stockCompany or such Subsidiary, (3) as the case may be, or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock for another class of its capital stock or (D) dividends payable by such Subsidiary to the Company or any of its Subsidiaries); (bii) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; providedPROVIDED, howeverHOWEVER, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Old Second Bancorp Inc
Limitation on Transactions. If Debentures are issued (a) the Company shall exercise its right to the Trust defer payment of interest as provided in Section 4.1; or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ib) there shall have occurred any event that would constitute an Event of Default; , then (iii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (bii) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which that rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that notwithstanding -------- ------- the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: First America Capital Trust
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company Corporation shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company Corporation shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, Corporation will not and may will not permit any Subsidiary to, to declare or pay any dividend dividends or distributions on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its the Corporation's capital stock (other than (1) the reclassification of any class of the CompanyCorporation's capital stock into another class of its capital stock, ; (2) dividends or distributions payable in any class of the CompanyCorporation's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the CompanyCorporation's common stock related to the rights under any of the CompanyCorporation's stock benefit plans for its or its subsidiariesSubsidiaries' directors, officers or employees); (b) the Company shall Corporation will not and will not permit any Subsidiary to make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company Corporation (including Other Debentures) which rank pari passu with or junior to the Debentures; or make any guarantee payments with respect to any guarantee by the Corporation of the debt securities of any Subsidiary of the Corporation if such guarantee ranks pari passu with or is junior to the Debentures; provided, however, that notwithstanding the Company foregoing the Corporation may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company Corporation shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Carolina Bank Holdings Inc
Limitation on Transactions. If Debentures are issued to the Trust or a trustee Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's ’s benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock); and (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures (including without limitation the Company’s 9.25% Subordinated Debentures due 2026, issued to IBC Capital Finance, a Delaware statutory trust or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Independent Bank Corp /Mi/
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1; or (ii) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) neither the Company may not, and may not permit nor any Subsidiary to, of its Subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stockCompany or such Subsidiary, (3) as the case may be, or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees), (C) as a result of a reclassification of its capital stock for another class of its capital stock, or (D) dividends payable by such Subsidiary to the Company or any of its Subsidiaries; (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with (including without limitation the Company's 9.25% Subordinated Debentures due 2027 issued to First Preferred Capital Trust I) or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities. The term "capital stock" as used in this Indenture shall not include the 8.50% Subordinated Debentures due 2028 issued by First Banks America, Inc. to First America Capital Trust or the 8.50% Cumulative Trust Preferred Securities issued by First America Capital Trust.
Appears in 1 contract
Samples: First Preferred Capital Trust Ii
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2i) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder shareholders' rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5ii) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: 1st Source Capital Trust Ii
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) if the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2i) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5ii) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not make any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its -------- ------- obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Intrust Capital Trust
Limitation on Transactions. If Debentures of any series are issued to the a Trust or a trustee Trustee of the a Trust in connection with the issuance of Trust Securities by the such Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the such Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture or any applicable supplement hereto and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock into another class of its capital stock); and (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the DebenturesDebentures of such series or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures of such series; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities GuaranteeGuarantee relating to such Trust; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures of such series or any of the Preferred SecuritiesSecurities relating to such Trust.
Appears in 1 contract
Samples: First Merchants Corp
Limitation on Transactions. If Debentures are issued (a) the Company shall exercise its right to the Trust defer payment of interest as provided in Section 4.1; or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ib) there shall have occurred any event that would constitute an Event of Default; , then (iii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (bii) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Indenture (Intrust Financial Corp /)
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company Corporation shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company Corporation shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and Corporation may not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its Corporation's capital stock (other than (1) the reclassification of any class of the CompanyCorporation's capital stock into another class of capital stock, (2) dividends or distributions payable in any class of the CompanyCorporation's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the CompanyCorporation's common stock related to the rights under any of the CompanyCorporation's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.or
Appears in 1 contract
Samples: Metropolitan Capital Trust Ii
Limitation on Transactions. If Debentures are issued (a) the Company shall exercise its right to the Trust defer payment of interest as provided in Section 17.1; or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ib) there shall have occurred any event that would constitute an Event of Default; , then (iii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class Common Stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of Common Stock of the Company's common stock Company related to the rights under any of the Company's ’s benefit plans for its or its subsidiaries' directors, officers or employees); (bii) the Company shall not make any payment of interest, principal or of (and premium, if any, ) or interest on or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior in interest to the DebenturesDebt Securities of a series issued under this Indenture; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the applicable Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures Outstanding Debt Securities of such series or any of the Preferred Securities associated with such Debt Securities.
Appears in 1 contract
Samples: Reinsurance Group of America Inc
Limitation on Transactions. If Debentures are issued (a) the Company shall exercise its right to the Trust defer payment of interest as provided in Section 4.1 or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ib) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its Subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stockCompany or such Subsidiary, (3) as the case may be, or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's ’s benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock for another class of its capital stock or (D) dividends payable by such Subsidiary to the Company or any of its Subsidiaries); (bii) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.. Article V
Appears in 1 contract
Samples: First Busey Statutory Trust V
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1, or (ii) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employeesemployees or a dividend reinvestment plan, or (C) as a result of a reclassification of its capital stock for another class of its capital stock, or the exchange or conversion of any one class or series of the Company's capital stock for another class or series of the Company's capital stock pursuant to the conversion or exchange provisions of that capital stock, or purchases of fractional interests in shares of the Company's capital stock pursuant to the conversion or exchange provisions of that capital stock or the security being converted or exchanged, purchases of fractional interests in shares of the Company's capital stock issued or issuable to the stockholders of an unaffiliated third party and payments made in respect of not more than ten percent (10%) of the outstanding shares of capital stock of the Company held by shareholders of the Company who exercise dissenters' rights required to be afforded to them by applicable law, in each case pursuant to a merger, consolidation or other business combination with an unaffiliated third party in an arm's-length transaction entered into in good faith); (b) the Company shall not make or allow any of its Subsidiaries to make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make or allow any of its Subsidiaries to make any guarantee payment with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Limitation on Transactions. If Debentures are issued to the Trust or a trustee Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock); and (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with (including without limitation the Company's 9.00% Subordinated Debentures due 2028, issued to Wintrust Capital Trust I, the Company's 10.50% Subordinated Debentures due 2030 issued to Wintrust Capital Trust II, the Company's LIBOR plus 3.25% Subordinated Debentures due 2033 issued to Wintrust Capital Trust III, the Company's LIBOR plus 2.80% Subordinated Debentures due 2033 issued to Wintrust Statutory Trust IV, and the Company's LIBOR plus 2.60% Subordinated Debentures due 2034 issued to Wintrust Statutory Trust V) or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Wintrust Capital Trust VI
Limitation on Transactions. If Without limiting the generality of Section 4.3, if Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or Trust then (iiii) neither the Company shall have given notice nor any of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, Subsidiaries shall be continuing, then (a) the Company may not, and may not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees), (C) as a result of a reclassification of its capital stock, or (D) dividends or distributions made by a Subsidiary to the Company or (E) dividends or distributions made by a Subsidiary to a Subsidiary; (bii) neither the Company nor any Subsidiary shall not make any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company or any Subsidiary which rank pari passu with or junior in interest to the Debentures or make any guarantee payments with respect to any guarantee by the Company of any debt securities if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Indenture (NPB Capital Trust Ii)
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, thereto and (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Rbi Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments payment of interest on such the Debentures by extending the interest payment period as provided in this Indenture Section 4.1 and such deferral period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' the directors, officers or employeesemployees of the Company or any of its subsidiaries, or (C) as a result of a reclassification of its capital stock for another class of its capital stock); and (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior in interest to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that notwithstanding the foregoing, the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Taylor Capital Group Inc
Limitation on Transactions. If Debentures are issued to the Trust or a trustee Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock); and (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures (including without limitation the Company's 9.25% Subordinated Debentures due 2026, issued to IBC Capital Finance, a Delaware statutory trust or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Independent Bank Corp /Mi/
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ia) there shall have occurred any event that would constitute an Event of Default; (iib) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iiic) if the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its Subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stockCompany or such Subsidiary, (3) as the case may be, or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's ’s benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock or (D) dividends payable by such Subsidiary to the Company or any of its Subsidiaries); (bii) the Company shall not make any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: First Busey Statutory Trust V
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1, or (ii) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's ’s benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock for another class of its capital stock); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures (including without limitation the Company’s 9.25% Subordinated Debentures due 2026, issued to IBC Capital Finance, a Delaware statutory trust); (c) make any guarantee payment with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing, the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (cd) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Independent Bank Corp /Mi/
Limitation on Transactions. If during the time Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, or the occurrences in the foregoing clauses (i) and (ii), as the case may be, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the as a result of a reclassification of any class of the Company's capital stock into another class of its capital stock, (2) dividends or distributions payable in any class of the Company's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred SecuritiesDebentures.
Appears in 1 contract
Samples: Sal Trust Preferred Fund I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event of which the Company has actual knowledge that (i) with the giving of notice or the lapse of time, or both would constitute an Event of DefaultDefault in respect of which the Company shall not have taken reasonable steps to cure, (ii) an Event of Default shall have occurred and be continuing; (iiiii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iiiiv) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock); and (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Americredit Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1; (ii) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of is in default with respect to its election to defer payments of interest on such Debentures by extending obligations under the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuingGuarantee, then (a) the Company may will not, and may will not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2I) dividends or distributions payable in any class common stock of the Company's common stockCompany or such Subsidiary, (3) as the case may be, or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5II) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, (III) as a result of a reclassification of its capital stock for another class of its capital stock, or (IV) declarations or payments of dividends or distributions on capital stock by a Subsidiary of the Company to the Company or any of its Subsidiaries); (b) the Company shall not and will not permit any Subsidiary to make any payment of interest, principal or premium, if any, on or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures or make any guarantee payment with respect to any guarantee by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.the
Appears in 1 contract
Samples: Glacier Capital Trust I
Limitation on Transactions. If Debentures of any series are issued to the a Trust or a trustee Trustee of the a Trust in connection with the issuance of Trust Securities by the such Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the such Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture or any applicable supplement hereto and such period, or any extension thereof, shall be continuing, then (a) the Company may notshall not declare or pay, and may shall not permit allow any Subsidiary to, of its Subsidiaries to declare or pay pay, any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in common stock of the Company or any class Subsidiary of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock into another class of its capital stock, or (D) payments of dividends or distributions to the Company); and (b) the Company shall not make make, and shall not allow any of its Subsidiaries to make, any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu PARI PASSU with or junior to the DebenturesDebentures of such series or make any guarantee payments with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks PARI PASSU with or junior in interest to the Debentures of such series; providedPROVIDED, howeverHOWEVER, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities GuaranteeGuarantee relating to such Trust; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures of such series or any of the Preferred SecuritiesSecurities relating to such Trust.
Appears in 1 contract
Samples: First Merchants Capital Trust I
Limitation on Transactions. If Debentures are issued (a) the Company shall exercise its right to the Trust defer payment of interest as provided in Section 4.1; or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ib) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its Subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock for another class of its capital stock, (D) dividends or distributions made by a Subsidiary to the Company, (E) dividends or distributions made by a Subsidiary to a Subsidiary or (F) dividends or distributions payable on the currently outstanding preferred stock of D & N Capital Corporation, a Subsidiary of the Company); (bii) neither the Company nor any Subsidiary shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company or any Subsidiary which rank pari passu with or junior to the Debentures or make any guarantee payments with respect to any guarantee by the Company of any debt securities if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that notwithstanding the foregoing the Company -------- ------- may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Indenture (Republic Bancorp Inc)
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust So long as any Preferred Securities by the Trust and (i) remain outstanding, if there shall have occurred any event that would constitute and be continuing an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations Default under the this Preferred Securities Guarantee relating to or an event of default under the Trust; Trust Agreement or during an Extended Interest Payment Period (iii) as defined in the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuingIndenture), then (a) the Company may Guarantor shall not, and may shall not permit any Subsidiary (as defined in the Indenture) to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1i) the reclassification of any class of the Company's capital stock into another class of capital stock, (2ii) dividends or distributions payable in any class of the Company's common stock, (3iii) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee thereto and (5iv) purchases of the Company's common stock related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); , and (b) the Company Guarantor shall not, and shall not permit any Subsidiary to, make any payment of interestprincipal, principal interest or premium, if any, on or repay, repurchase or redeem any debt securities issued by the Company Guarantor which rank pari passu with or junior to the Junior Subordinated Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Guarantor shall not, and shall not permit any Subsidiary to make any guarantee payments with respect to any guarantee (other than this Preferred Securities Guarantee) by the Company of the debt securities of any Subsidiary of the Company if such guarantee ranks pari passu with or junior to the Junior Subordinated Debentures; and (d) the Guarantor shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Preferred Securities Guarantee Agreement (Southside Capital Trust I)
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (ia) there shall have occurred any event that would constitute and be continuing an Event of Default; (iib) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iiic) if the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such periodExtension Period, or any extension thereof, shall be continuing, then (ai) neither the Company may not, and may not permit nor any Subsidiary to, of its Subsidiaries shall declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, (C) as a result of a reclassification of its capital stock, or (D) dividends or distributions made by a Subsidiary to the Company, (E) dividends or distributions made by a Subsidiary to a Subsidiary or (F) dividends or distributions on the currently outstanding preferred stock of D & N Capital Corporation, a Subsidiary of the Company); (bii) neither the Company nor any Subsidiary shall not make any payment of interestprincipal, principal interest or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company or any Subsidiary which rank pari passu with or junior in interest to the Debentures or make any guarantee payments with respect to any guarantee by the Company of any debt securities if such guarantee ranks pari passu with or junior in interest to the Debentures; provided, however, that the Company may make -------- ------- payments pursuant to its obligations under the Preferred Securities Guarantee; and (ciii) the Company shall not redeem, purchase or acquire less than all of the outstanding Outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Indenture (Republic Bancorp Inc)
Limitation on Transactions. (a) If Debentures are issued to the Trust or a trustee Trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to any of its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, shall not and may will not permit any Subsidiary to, to declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2I) dividends or distributions payable in any class common stock of the Company's common stockCompany or such Subsidiary, (3) as the case may be, or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5II) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees); , (bIII) as a result of a reclassification of its capital stock for another class of its capital stock, or (IV) declarations or payments of dividends or distributions on capital stock by a Subsidiary of the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by to the Company which rank pari passu with or junior to the Debentures; provided, however, that the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.its Subsidiaries); and
Appears in 1 contract
Samples: Glacier Capital Trust I
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and If: (i) there shall have occurred any event that would constitute an Event of Default; (ii) the Company Corporation shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company Corporation shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, Corporation will not and may will not permit any Subsidiary to, to declare or pay any dividend dividends or distributions on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its the Corporation's capital stock (other than (1) the reclassification of any class of the CompanyCorporation's capital stock into another class of its capital stock, ; (2) dividends or distributions payable in any class of the CompanyCorporation's common stock, (3) any declaration of a dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5) purchases of the CompanyCorporation's common stock related to the rights under any of the CompanyCorporation's stock benefit plans for its or its subsidiariesSubsidiaries' directors, officers or employees); (b) the Company shall Corporation will not and will not permit any Subsidiary to make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company Corporation (including Other Debentures) which rank pari passu with or junior to the Debentures; or make any guarantee payments with respect to any guarantee by the Corporation of the debt securities of any Subsidiary of the Corporation if such guarantee ranks pari passu with or is junior to the Debentures; provided, however, that notwithstanding the Company foregoing the Corporation may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company Corporation shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 4.1, or (ii) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock for another class of its capital stock); (b) the Company shall not make any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with (including without limitation the Company's 9.25% Subordinated Debentures due 2027 issued to IFC Capital Trust I) or junior to the Debentures or make any guarantee payment with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (c) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Ifc Capital Trust Ii
Limitation on Transactions. If Debentures are issued to the Trust or a trustee of the Trust in connection with the issuance of Trust Securities by the Trust and (i) the Company shall exercise its right to defer payment of interest as provided in Section 5.1, or (ii) there shall have occurred and be continuing any event that would constitute an Event of Default; (ii) the Company shall be in default with respect to its payment of any obligations under the Preferred Securities Guarantee relating to the Trust; or (iii) the Company shall have given notice of its election to defer payments of interest on such Debentures by extending the interest payment period as provided in this Indenture and such period, or any extension thereof, shall be continuing, then (a) the Company may not, and may shall not permit any Subsidiary to, declare or pay any dividend on, make any distributions with respect to, or redeem, purchase, acquire or make a liquidation payment with respect to, any of its capital stock (other than (1) the reclassification of any class of the Company's capital stock into another class of capital stock, (2A) dividends or distributions payable in any class common stock of the Company's common stock, (3) or any declaration of a non-cash dividend in connection with the implementation of a shareholder rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant thereto, (4) payments under the Preferred Securities Guarantee and (5B) purchases of the Company's common stock of the Company related to the rights under any of the Company's ’s benefit plans for its or its subsidiaries' directors, officers or employees, or (C) as a result of a reclassification of its capital stock for another class of its capital stock), or allow any of its Subsidiaries to take any such action with respect to such Subsidiaries’ capital stock (other than payment of dividends or distributions to the Company; (b) the Company shall not make make, or allow any of its Subsidiaries to make, any payment of interest, principal or premium, if any, or repay, repurchase or redeem any debt securities issued by the Company which rank pari passu with or junior to the Debentures; (c) the Company shall not make, or allow any of its Subsidiaries to make, any guarantee payment with respect to any guarantee by the Company of the debt securities of any subsidiary of the Company if such guarantee ranks pari passu with or junior to the Debentures; provided, however, that notwithstanding the foregoing the Company may make payments pursuant to its obligations under the Preferred Securities Guarantee; and (cd) the Company shall not redeem, purchase or acquire less than all of the outstanding Debentures or any of the Preferred Securities.
Appears in 1 contract
Samples: Indenture (Bridge Bancorp Inc)
