Common use of Unconditional Right of Holders to Receive Principal, Premium and Interest; Direct Action by Holders of Preferred Securities Clause in Contracts

Unconditional Right of Holders to Receive Principal, Premium and Interest; Direct Action by Holders of Preferred Securities. Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right which is absolute and unconditional to receive payment of the principal of (and premium, if any) and (subject to Section 3.7) interest (including any Additional Interest) on such Security on the respective Stated Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder. In the case of Securities of a series held by a Trust, any holder of the corresponding series of Preferred Securities held by such Trust shall have the right, upon the occurrence of an Event of Default described in Section 5.1(1) or 5.1(2), to institute a suit directly against the Company for enforcement of payment to such holder of principal of (premium, if any) and (subject to Section 3.7) interest (including any Additional Interest) on the Securities having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement under which such Trust is formed) of such Preferred Securities of the corresponding series held by such holder.

Appears in 3 contracts

Samples: Indenture (First Tennessee Capital Iv), Indenture (First Tennessee National Corp), Chase Capital Iii

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Unconditional Right of Holders to Receive Principal, Premium and Interest; Direct Action by Holders of Preferred Securities. Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right which is absolute and unconditional to receive payment of the principal of (and premium, if any) and (subject to Section 3.7) interest (including any Additional Interest) on such Security on the respective Stated Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder. In the case of Securities of a series held by issued to a Trust, any holder of the corresponding series of Preferred Securities held issued by such Trust shall have the right, upon the occurrence of an Event of Default described in Section 5.1(1) or 5.1(2), to institute a suit directly against the Company for enforcement of payment to such holder of principal of (premium, if any) and (subject to Section 3.7) interest (including any Additional Interest) on the Securities having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement under which such Trust is formed) of such Preferred Securities of the corresponding series held by such holder.

Appears in 3 contracts

Samples: Chase Capital Iii, J P Morgan Chase & Co, J P Morgan Chase & Co

Unconditional Right of Holders to Receive Principal, Premium and Interest; Direct Action by Holders of Preferred Securities. Notwithstanding any other provision in this Indenture, the Holder of any Security of any series shall have the right right, which is absolute and unconditional unconditional, to receive payment of the principal of (and premium, if any) any premium and (subject to Section 3.7Sections 3.8 and 3.12) interest (including any Additional Interest) on such Security on the respective Stated Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder. In the case of Securities of a series held by a issued to an Issuer Trust, any registered holder of the corresponding series of Preferred Securities held issued by such Issuer Trust shall have the right, upon the occurrence of an Event of Default described in Section 5.1(1) or 5.1(2), to institute a suit directly against the Company Corporation for enforcement of payment to such holder of principal of (premium, if any) and any premium and (subject to Section 3.7Sections 3.8 and 3.12) interest (including any Additional Interest) on the Securities having a principal amount equal to the aggregate Liquidation Amount (as defined in the related Trust Agreement under which such Trust is formedAgreement) of such Preferred Securities of the corresponding series held by such holder.

Appears in 2 contracts

Samples: Indenture (Everest Re Capital Trust Iii), Everest Re Capital Trust

Unconditional Right of Holders to Receive Principal, Premium and Interest; Direct Action by Holders of Preferred Securities. Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right right, which is absolute and unconditional unconditional, to receive payment of the principal of (and premium, if any) and (subject to Section 3.7Sections 3.8 and 3.12) interest (including any Additional Interest) on such Security on the respective Stated Maturities expressed in such Security Maturity (or, or in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder. In the case of Securities of a series held by a Trust, any Any registered holder of the corresponding series of Preferred Securities held issued by such the Issuer Trust shall have the right, upon the occurrence of an Event of Default described in Section 5.1(15.1(a) or 5.1(25.1(b), to institute a suit directly against the Company for enforcement of payment to such holder of principal of (and premium, if any) and (subject to Section 3.7Sections 3.8 and 3.12) interest (including any Additional Interest) on the Securities having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement under which such Trust is formedAgreement) of such Preferred Securities of the corresponding series held by such holder.

Appears in 2 contracts

Samples: Sun Capital Trust Ii, American Bancshares Inc \Fl\

Unconditional Right of Holders to Receive Principal, Premium and Interest; Direct Action by Holders of Preferred Securities. Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right which is absolute and unconditional to receive payment of the principal of (and premium, if any) and (subject to Section 3.7) interest (including any Additional Interest) on such Security on the respective Stated Maturities expressed in such Security Maturity date (or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder. In So long as the case of Securities of a series are held by a Trustthe Property Trustee, any registered holder of the corresponding series of Preferred Securities held issued by such Trust Xxxxx Capital II shall have the right, upon the occurrence of an Event of Default described in Section 5.1(1) or 5.1(2), to institute a suit legal proceeding directly against the Company Corporation for enforcement of payment to such holder of principal of (and premium, if any) and (subject to Section 3.7) interest (including any Additional Interest) on the Securities having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement under which such Trust is formedAgreement) of such Preferred Securities of the corresponding series held by such holder.

Appears in 1 contract

Samples: Riggs Capital Ii

Unconditional Right of Holders to Receive Principal, Premium and Interest; Direct Action by Holders of Preferred Securities. Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right which is absolute and unconditional to receive payment of the principal of (and premium, if any) and (subject to Section 3.7) interest (including any Additional Interest) on such Security on the respective Stated Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder. In the case of Securities of a series held by a issued to an FPC Capital Trust, any holder of the corresponding series of Preferred Securities held issued by such FPC Capital Trust shall have the right, upon the occurrence of an Event of Default described in Section 5.1(1) or 5.1(2), to institute a suit directly against the Company or the Guarantor for enforcement of payment to such holder of principal of (premium, if any) and (subject to Section 3.7) interest (including any Additional Interest) on the Securities having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement under which such FPC Capital Trust is formed) of such Preferred Securities of the corresponding series held by such holder.

Appears in 1 contract

Samples: FPC Capital Ii

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Unconditional Right of Holders to Receive Principal, Premium and Interest; Direct Action by Holders of Preferred Securities. Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right right, which is absolute and unconditional unconditional, to receive payment of the principal of (and 45 premium, if any) and (subject to Section 3.7Sections 3.8 and 3.12) interest (including any Additional Interest) on such Security on the respective Stated Maturities expressed in such Security Maturity (or, or in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder. In the case of Securities of a series held by a Trust, any Any registered holder of the corresponding series of Preferred Securities held issued by such the Issuer Trust shall have the right, upon the occurrence of an Event of Default described in Section 5.1(15.1(a) or 5.1(25.1(b), to institute a suit directly against the Company for enforcement of payment to such holder of principal of (and premium, if any) and (subject to Section 3.7Sections 3.8 and 3.12) interest (including any Additional Interest) on the Securities having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement under which such Trust is formedAgreement) of such Preferred Securities of the corresponding series held by such holder.

Appears in 1 contract

Samples: First Star Capital Trust

Unconditional Right of Holders to Receive Principal, Premium and Interest; Direct Action by Holders of Preferred Securities. Notwithstanding any other provision in this Indenture, the Holder of any Security Debenture shall have the right which is absolute and unconditional to receive payment of the principal of (and of, premium, if any) , and (subject to Section 3.7) interest (including any Additional Interest) on such Security Debenture on the respective Stated Maturities expressed in such Security Debenture (or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder. In the case of Securities of a series Debentures held by a the Trust, any holder of the corresponding series of Preferred Securities held by such Trust shall have the right, upon the occurrence of an Event of Default described in Section 5.1(1) or 5.1(2), to institute a suit directly against the Company for enforcement of payment to such holder of principal of (of, premium, if any) , and (subject to Section 3.7) interest (including any Additional Interest) on the Securities Debentures having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement under which such Trust is formed) of such Preferred Securities of the corresponding series held by such holder.

Appears in 1 contract

Samples: Caremark Rx Inc

Unconditional Right of Holders to Receive Principal, Premium and Interest; Direct Action by Holders of Preferred Securities. Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right right, which is absolute and unconditional unconditional, to receive payment of the principal of (and premium, if any) and (subject to Section 3.7Sections 3.8 and 3.12) interest (including any Additional Interest) on such Security on the respective Stated Maturities expressed in such Security Maturity (or, or in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder. In the case of Securities of a series held by a Trust, any Any registered holder of the corresponding series of Preferred Securities held issued by such the Issuer Trust shall have the right, upon the occurrence of an Event of Default described in Section 5.1(15.1(a) or 5.1(25.1(b), to institute a suit directly against the Company for enforcement of payment to such holder of principal of (and premium, if any) and (subject to Section 3.7Sections 3.8 and 3.12) interest (including any Additional Interest) on the Securities having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement under which such Trust is formed) of such Preferred Securities of the corresponding series held by such holder.

Appears in 1 contract

Samples: Allegiant Capital Trust Ii

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