RecitalsReplacement Capital Covenant • May 2nd, 2013 • Us Bancorp \De\ • National commercial banks
RecitalsReplacement Capital Covenant • April 20th, 2009 • American International Group Inc • Fire, marine & casualty insurance
REPLACEMENT CAPITAL COVENANTReplacement Capital Covenant • November 23rd, 2009 • Scana Corp • Electric & other services combined
Replacement Capital Covenant, dated as of November 1, 2009 (this “Replacement Capital Covenant”), by SCANA Corporation, a South Carolina corporation (together with its successors and assigns, the “Corporation”), in favor of and for the benefit of each Covered Debtholder (as defined below).
RECITALSReplacement Capital Covenant • August 2nd, 2007 • J P Morgan Chase & Co • National commercial banks
RecitalsReplacement Capital Covenant • September 28th, 2006 • J P Morgan Chase & Co • National commercial banks
ContractReplacement Capital Covenant • May 30th, 2007 • Washington Mutual, Inc • Savings institution, federally chartered
REPLACEMENT CAPITAL COVENANT, dated as of May 24, 2007 (this “Replacement Capital Covenant”), by Washington Mutual, Inc., a Washington corporation (together with its successors and assigns, the “Corporation”), in favor of and for the benefit of each Covered Debtholder (as defined below).
ContractReplacement Capital Covenant • February 15th, 2017 • Hartford Financial Services Group Inc/De • Fire, marine & casualty insurance
This Replacement Capital Covenant, dated as of February 15, 2017 (this “Replacement Capital Covenant”), is made by The Hartford Financial Services Group, Inc., a Delaware corporation (together with its successors and assigns, the “Corporation”), in favor of and for the benefit of each Covered Debtholder (as defined below).
REPLACEMENT CAPITAL COVENANTReplacement Capital Covenant • February 26th, 2013 • Progressive Corp/Oh/ • Fire, marine & casualty insurance
REPLACEMENT CAPITAL COVENANT, dated as of June 21, 2007 (this “Replacement Capital Covenant”), by The Progressive Corporation, an Ohio corporation (together with its successors and assigns, the “Corporation”), in favor of and for the benefit of each Covered Debtholder (as defined below).
RecitalsReplacement Capital Covenant • December 22nd, 2006 • Us Bancorp \De\ • National commercial banks
other purposes and to continue to defer Distributions without a breach of its obligations under the transaction documents; and
RecitalsReplacement Capital Covenant • December 5th, 2006 • Wells Fargo & Co/Mn • National commercial banks
within three years from the date of its issuance at a conversion ratio within a range established at the time of issuance of the preferred stock.
ContractReplacement Capital Covenant • February 2nd, 2007 • J P Morgan Chase & Co • National commercial banks
Replacement Capital Covenant, dated as of February 2, 2007 (this “Replacement Capital Covenant”), by JPMorgan Chase & Co., a Delaware corporation (together with its successors and assigns, the “Corporation”), in favor of and for the benefit of each Covered Debtholder (as defined below).
RecitalsReplacement Capital Covenant • September 10th, 2008 • Wells Fargo & Co/Mn • National commercial banks
amount (i) only to the extent that it can do so and simultaneously satisfy its future fixed or contingent obligations under other securities and derivative instruments that provide for settlement or payment in shares of Common Stock or (ii) if the Corporation cannot increase the Share Cap amount as contemplated in the preceding clause, by requesting its Board of Directors to adopt a resolution for stockholder vote at the next occurring annual stockholders meeting to increase the number of shares of its authorized Common Stock for purposes of satisfying its obligations to pay deferred Distributions;
RecitalsReplacement Capital Covenant • December 6th, 2006 • Suntrust Banks Inc • National commercial banks
proceeds for other purposes and to continue to defer Distributions without a breach of its obligations under the transaction documents; and
RecitalsReplacement Capital Covenant • May 18th, 2007 • Goldman Sachs Group Inc/ • Security brokers, dealers & flotation companies
RecitalsReplacement Capital Covenant • April 12th, 2006 • Us Bancorp \De\ • National commercial banks
Corporation), interest on which may be deferred for five years or more and, commencing with the date two years after the beginning of an interest deferral period, will be paid pursuant to an Alternative Payment Mechanism, and (b) a fractional interest in a stock purchase contract, (ii) includes a remarketing feature pursuant to which the subordinated debt of the Corporation is remarketed to new investors within five years from the date of issuance of the security or earlier in the event of an early settlement event based on (a) the capital ratios of the Corporation, (b) the capital ratios of the Corporation as anticipated by the Federal Reserve Board, or (c) the dissolution of the issuer of such Debt Exchangeable for Equity, (iii) provides for the proceeds raised in the remarketing to be used to purchase common stock or Qualifying Non-Cumulative Preferred Stock of the Corporation, (iv) includes an Explicit Replacement Covenant, provided that such Explicit Replacement Covenant will not
RecitalsReplacement Capital Covenant • December 8th, 2006 • PNC Financial Services Group Inc • National commercial banks
ContractReplacement Capital Covenant • May 23rd, 2007 • Lehman Brothers Holdings Inc • Security brokers, dealers & flotation companies
Replacement Capital Covenant, dated as of May 17, 2007 (this “Replacement Capital Covenant”), by Lehman Brothers Holdings Inc., a Delaware corporation (together with its successors and assigns, the “Corporation”), in favor of and for the benefit of each Covered Debtholder (as defined below).
ContractReplacement Capital Covenant • February 17th, 2006 • Burlington Northern Santa Fe Corp • Railroads, line-haul operating
Replacement Capital Covenant, dated as of December 15, 2005 (this “Replacement Capital Covenant”), by Burlington Northern Santa Fe Corporation, a Delaware corporation (together with its successors and assigns, the “Corporation”), in favor of and for the benefit of each Covered Debtholder (as defined below).
RecitalsReplacement Capital Covenant • September 28th, 2006 • Nelnet Inc • Asset-backed securities
settlement event based on one or more financial tests set forth in the terms of such securities or related transaction agreements;
AMENDMENT TO REPLACEMENT CAPITAL COVENANTReplacement Capital Covenant • July 24th, 2012 • Susquehanna Bancshares Inc • National commercial banks • New York
This Amendment (“Amendment”), dated as of July 18, 2012, by Susquehanna Bancshares, Inc., a Pennsylvania corporation (together with its successors and assigns, the “Corporation”), to the Replacement Capital Covenant, dated as of December 12, 2007 (the “Replacement Capital Covenant”), is entered into by the Corporation for the benefit of the Covered Debtholders as defined in the Replacement Capital Covenant.
ContractReplacement Capital Covenant • October 30th, 2007 • Washington Mutual, Inc • Savings institution, federally chartered
REPLACEMENT CAPITAL COVENANT, dated as of October 25, 2007 (this “Replacement Capital Covenant”), by Washington Mutual, Inc., a Washington corporation (together with its successors and assigns, the “Corporation”), in favor of and for the benefit of each Covered Debtholder (as defined below).
RecitalsReplacement Capital Covenant • May 30th, 2007 • J P Morgan Chase & Co • National commercial banks
RecitalsReplacement Capital Covenant • May 29th, 2007 • Colonial Bancgroup Inc • State commercial banks
ContractReplacement Capital Covenant • March 15th, 2007 • Xl Capital LTD • Surety insurance
Replacement Capital Covenant, dated as of March 15, 2007 (this “Replacement Capital Covenant”), by XL Capital Ltd, a limited company duly organized and existing under the laws of the Cayman Islands (together with its successors and assigns, the “Company”), in favor of and for the benefit of each Covered Debtholder (as defined below).
RecitalsReplacement Capital Covenant • March 9th, 2006 • Washington Mutual Inc • Savings institution, federally chartered
$100,000,000, and (iv) was issued through or with the assistance of a commercial or investment banking firm or firms acting as underwriters, initial purchasers or placement or distribution agents. For purposes of this definition as applied to securities with a CUSIP number, each issuance of long-term indebtedness for money borrowed that has (or, if such indebtedness is held by a trust or other intermediate entity established directly or indirectly by the issuer, the securities of such intermediate entity have) a separate CUSIP number shall be deemed to be a series of the issuer’s long-term indebtedness for money borrowed that is separate from each other series of such indebtedness.
RECITALSReplacement Capital Covenant • May 3rd, 2007 • Everest Reinsurance Holdings Inc • Fire, marine & casualty insurance
ContractReplacement Capital Covenant • March 30th, 2015 • Xl Group PLC • Fire, marine & casualty insurance
Replacement Capital Covenant, dated as of March 30, 2015 (this “Replacement Capital Covenant”), by XLIT Ltd., an exempted company duly incorporated with limited liability and existing under the laws of the Cayman Islands (together with its successors and assigns, the “Company”), in favor of and for the benefit of each Covered Debtholder (as defined below).
NATIONAL CITY CORPORATION REPLACEMENT CAPITAL COVENANTReplacement Capital Covenant • August 30th, 2007 • National City Corp • National commercial banks
This REPLACEMENT CAPITAL COVENANT, dated as of August 30, 2007 (this “Replacement Capital Covenant”), by National City Corporation, a Delaware corporation (together with its successors and assigns, the “Corporation”), is in favor of and for the benefit of each Covered Debtholder (as defined below).
REPLACEMENT CAPITAL COVENANTReplacement Capital Covenant • February 27th, 2018 • Progressive Corp/Oh/ • Fire, marine & casualty insurance
REPLACEMENT CAPITAL COVENANT, dated as of June 21, 2007 (this “Replacement Capital Covenant”), by The Progressive Corporation, an Ohio corporation (together with its successors and assigns, the “Corporation”), in favor of and for the benefit of each Covered Debtholder (as defined below).
RecitalsReplacement Capital Covenant • May 24th, 2007 • Enterprise Products Partners L P • Crude petroleum & natural gas
issuances thereof pursuant to such Alternative Payment Mechanism) equal to 25% of the liquidation or principal amount of the Qualifying Capital Securities that are the subject of the related Alternative Payment Mechanism (the “Preferred Cap”);
RecitalsReplacement Capital Covenant • February 1st, 2007 • Us Bancorp \De\ • National commercial banks
other purposes and to continue to defer Distributions without a breach of its obligations under the transaction documents; and
RecitalsReplacement Capital Covenant • December 1st, 2006 • WPS Resources Corp • Electric & other services combined
RECITALSReplacement Capital Covenant • May 30th, 2007 • Indymac Bancorp Inc • Savings institution, federally chartered
RecitalsReplacement Capital Covenant • November 1st, 2006 • Dominion Resources Inc /Va/ • Electric services
RecitalsReplacement Capital Covenant • May 18th, 2007 • TCTM L P • Asset-backed securities
issuances thereof pursuant to such Alternative Payment Mechanism) equal to 25% of the liquidation or principal amount of the Qualifying Capital Securities that are the subject of the related Alternative Payment Mechanism (the “Preferred Cap”);
