RIGHTS OF HOLDERS OF PREFERRED SECURITIES Sample Clauses
The "Rights of Holders of Preferred Securities" clause defines the specific privileges and protections granted to investors who own preferred securities in a company. This typically includes details such as dividend preferences, priority in asset distribution upon liquidation, and voting rights that may differ from those of common shareholders. For example, holders of preferred securities might receive fixed dividends before any payments are made to common shareholders, or have the right to approve certain major corporate actions. The core function of this clause is to clearly outline the advantages and safeguards for preferred security holders, ensuring their interests are protected and reducing ambiguity regarding their position relative to other classes of equity.
RIGHTS OF HOLDERS OF PREFERRED SECURITIES. The Company agrees that, for so long as any Preferred Securities remain outstanding, its obligations under this Indenture will also be for the benefit of the holders from time to time of Preferred Securities, and the Company acknowledges and agrees that such holders will be entitled to enforce this Indenture, as third party beneficiaries, directly against the Company to the same extent as if such holders of Preferred Securities held a principal amount of Securities equal to the stated liquidation amount of the Preferred Securities held by such holders.
RIGHTS OF HOLDERS OF PREFERRED SECURITIES. 24 Section 7.1 Preferred Security Holders' Rights..............................................24 Section 7.2 Direct Action...................................................................24 Section 7.3 Payments Pursuant to Direct Actions.............................................24 ARTICLE VIII REMARKETING........................................................................24 Section 8.1 Effectiveness of this Article...................................................24 Section 8.2 Remarketing.....................................................................24 ARTICLE IX MISCELLANEOUS........................................................................30 Section 9.1 Ratification of Indenture.......................................................30 Section 9.2 Trustee Not Responsible for Recitals............................................30 Section 9.3 Governing Law...................................................................30 Section 9.4 Severability....................................................................30 Section 9.5 Counterparts....................................................................31 Exhibits Exhibit A Form of Debenture..............................................................A-1 FIRST SUPPLEMENTAL INDENTURE, dated as of (.), (.) (this "First Supplemental Indenture"), between NEW YORK COMMUNITY BANCORP, INC., a Delaware corporation (the "Company"), having its principal place of business at ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, Westbury, New York 11590 and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as trustee (the "Trustee"), having its corporate trust office at 1100 North Market Street, ▇▇▇▇▇▇ Square North, Wilmington, Delaware 19890, under the Indenture, dated as of (.), (.), between the Company and the Trustee (the "Base Indenture," together with the First Supplemental Indenture, the "Indenture").
RIGHTS OF HOLDERS OF PREFERRED SECURITIES. The Company agrees that, for so long as any Preferred Securities remain outstanding, its obligations under this Indenture will also be for the benefit of the holders from time to time of Preferred Securities, and the Company acknowledges and agrees that if the property trustee under the related Trust Agreement (the "Property Trustee") fails to enforce its rights with respect to the Securities or the related Trust Agreement, a holder of Preferred Securities may institute a legal proceeding directly against the Company to enforce the Property Trustee's rights with respect to the Securities or such Trust Agreement, to the fullest extent permitted by law, without first instituting any legal proceeding against the Property Trustee or any other person or entity.
RIGHTS OF HOLDERS OF PREFERRED SECURITIES. SECURITY HOLDERS' RIGHTS. Notwithstanding Section 507 of the Base Indenture, if the Property Trustee fails to enforce its rights under the Debentures after a holder of Preferred Securities has made a written request, the holder of Preferred Securities may, to the fullest extent permitted by law, institute a legal proceeding directly against the Company to enforce the Property Trustee's rights under the Indenture without first instituting any legal proceeding against the Property Trustee or any other person or entity.
RIGHTS OF HOLDERS OF PREFERRED SECURITIES. 15 Section 6.1 Preferred Security Holders' Rights......................................15 Section 6.2 Direct Action...........................................................15 Section 6.3 Payments Pursuant to Direct Actions.....................................15 Section 6.4 Modifications...........................................................15 ARTICLE VII REMARKETING...........................................................................16 Section 7.1 Effectiveness of this Article...........................................16
RIGHTS OF HOLDERS OF PREFERRED SECURITIES. ARTICLE SEVEN
RIGHTS OF HOLDERS OF PREFERRED SECURITIES. So long as any Preferred Securities remain outstanding, the Company's obligations under this Indenture will be for the benefit of the holders from time to time of Preferred Securities, and the holders of Preferred Securities of each series, or the Special Representative or Special Representatives appointed by such holders, will be entitled to enforce, to the fullest extent permitted by applicable law, this Indenture and the Securities that were issued concurrently with such Preferred Securities directly against the Company to the same extent as if such holders of Preferred Securities held a principal amount of such Securities equal to the liquidation preference of the Preferred Securities held by such holders.
RIGHTS OF HOLDERS OF PREFERRED SECURITIES