Common use of Special Redemption Clause in Contracts

Special Redemption. The Company may redeem the subordinated notes, in whole but not in part, at any time, including prior to September 15, 2026, subject to obtaining the prior approval of the Federal Reserve to the extent such approval is then required under the capital adequacy rules of the Federal Reserve, if (i) a change or prospective change in law occurs that could prevent the Company from deducting interest payable on the subordinated notes for U.S. federal income tax purposes, (ii) a subsequent event occurs that could preclude the subordinated notes from being recognized as Tier 2 Capital for regulatory capital purposes, or (iii) the Company is required to register as an investment company under the Investment Company Act of 1940, as amended, in each case, at a redemption price equal to 100% of the principal amount of the subordinated notes plus any accrued and unpaid interest to, but excluding, the redemption date.

Appears in 1 contract

Samples: Underwriting Agreement (Heartland Financial Usa Inc)

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Special Redemption. The Company may redeem the subordinated notesNotes, in whole but not in part, at any time, including prior to September June 15, 2026, subject to obtaining the prior approval of the Federal Reserve to the extent such approval is then required under the capital adequacy rules of the Federal Reserve, if (i) a change or prospective change in law occurs that could prevent the Company us from deducting interest payable on the subordinated notes Notes for U.S. federal income tax purposes, (ii) a subsequent event occurs that could preclude the subordinated notes Notes from being recognized as Tier 2 Capital for regulatory capital purposes, or (iii) the Company is we are required to register as an investment company under the Investment Company Act of 1940, as amended, in each case, at a redemption price equal to 100% of the principal amount of the subordinated notes Notes plus any accrued and unpaid interest to, to but excluding, excluding the redemption date.

Appears in 1 contract

Samples: Underwriting Agreement (Western Alliance Bancorporation)

Special Redemption. The Company may redeem the subordinated notesNotes, in whole but not in part, at any time, including prior to September 15February 1, 20262027, subject to obtaining the prior approval of the Federal Reserve to the extent such approval is then required under the capital adequacy rules of the Federal Reserve, if (i) a change or prospective change in law occurs that could prevent the Company from deducting interest payable on the subordinated notes Notes for U.S. federal income tax purposes, (ii) a subsequent event occurs that could preclude the subordinated notes Notes from being recognized as Tier 2 Capital for regulatory capital purposes, or (iii) the Company is required to register as an investment company under the Investment Company Act of 1940, as amended, in each case, at a redemption price equal to 100% of the principal amount of the subordinated notes Notes plus any accrued and unpaid interest to, to but excluding, excluding the redemption date.

Appears in 1 contract

Samples: Underwriting Agreement (First Foundation Inc.)

Special Redemption. The Company may redeem the subordinated notesNotes, in whole but not in part, at any time, including prior to September March 15, 20262025, subject to obtaining the prior approval of the Federal Reserve to the extent such approval is then required under the capital adequacy rules of the Federal Reserve, if (i) a change or prospective change in law occurs that could prevent the Company us from deducting interest payable on the subordinated notes Notes for U.S. federal income tax purposes, (ii) a subsequent event occurs that could preclude the subordinated notes Notes from being recognized as Tier 2 Capital for regulatory capital purposes, or (iii) the Company is we are required to register as an investment company under the Investment Company Act of 1940, as amended, in each case, at a redemption price equal to 100% of the principal amount of the subordinated notes Notes plus any accrued and unpaid interest to, to but excluding, excluding the redemption date.

Appears in 1 contract

Samples: Underwriting Agreement (First Citizens Bancshares Inc /De/)

Special Redemption. The Company may redeem the subordinated notesNotes, in whole but not in part, at any time, including prior to September 15June 30, 20262024, subject to obtaining the prior approval of the Federal Reserve to the extent such approval is then required under the capital adequacy rules of the Federal Reserve, if (i) a change or prospective change in law occurs that could prevent the Company us from deducting interest payable on the subordinated notes Notes for U.S. federal income tax purposes, (ii) a subsequent event occurs that could preclude the subordinated notes Notes from being recognized as Tier 2 Capital for regulatory capital purposes, or (iii) the Company is we are required to register as an investment company under the Investment Company Act of 1940, as amended, in each case, at a redemption price equal to 100% of the principal amount of the subordinated notes Notes plus any accrued and unpaid interest to, to but excluding, excluding the redemption date.

Appears in 1 contract

Samples: Cadence Bancorporation

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Special Redemption. The Company may redeem the subordinated notesNotes, in whole but not in part, at any time, including prior to September 15March 30, 20262027, subject to obtaining the prior approval of the Federal Reserve to the extent such approval is then required under the capital adequacy rules of the Federal Reserve, if (i) a change or prospective change in law occurs that could prevent the Company from deducting interest payable on the subordinated notes Notes for U.S. federal income tax purposes, (ii) a subsequent event occurs that could preclude the subordinated notes Notes from being recognized as Tier 2 Capital for regulatory capital purposes, or (iii) the Company is required to register as an investment company under the Investment Company Act of 1940, as amended, in each case, at a redemption price equal to 100% of the principal amount of the subordinated notes Notes plus any accrued and unpaid interest to, to but excluding, excluding the redemption date.

Appears in 1 contract

Samples: Underwriting Agreement (Sandy Spring Bancorp Inc)

Special Redemption. The Company may redeem the subordinated notesNotes, in whole but not in part, at any time, including prior to September May 15, 20262027, subject to obtaining the prior approval of the Federal Reserve to the extent such approval is then required under the capital adequacy rules of the Federal Reserve, if (i) a change or prospective change in law occurs that could prevent the Company us from deducting interest payable on the subordinated notes Notes for U.S. federal income tax purposes, (ii) a subsequent event occurs that could preclude the subordinated notes Notes from being recognized as Tier 2 Capital for regulatory capital purposes, or (iii) the Company is we are required to register as an investment company under the Investment Company Act of 1940, as amended, in each case, at a redemption price equal to 100% of the principal amount of the subordinated notes Notes plus any accrued and unpaid interest to, to but excluding, excluding the redemption date.

Appears in 1 contract

Samples: Underwriting Agreement (Dime Community Bancshares, Inc. /NY/)

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