Alternative Payment Mechanism definition

Alternative Payment Mechanism means, with respect to any Qualifying Capital Securities, provisions in the related transaction documents permitting the Corporation, in its sole discretion, or in response to a directive or order from the Federal Reserve, to defer or skip in whole or in part payment of Distributions on such Qualifying Capital Securities for one or more consecutive Distribution Periods up to ten years and requiring the Corporation to issue (or use Commercially Reasonable Efforts to issue) one or more types of APM Qualifying Securities raising eligible proceeds at least equal to the deferred Distributions on such Qualifying Capital Securities and apply the proceeds to pay unpaid Distributions on such Qualifying Capital Securities, commencing on the earlier of (x) the first Distribution Date after commencement of a deferral period on which the Corporation pays current Distributions on such Qualifying Capital Securities and (y) the fifth anniversary of the commencement of such deferral period, and that:
Alternative Payment Mechanism means, with respect to any securities or combination of securities (together in this definition, “such securities”), provisions in the related transaction documents requiring the Corporation to issue (or use commercially reasonable efforts to issue) one or more types of APM Qualifying Securities raising eligible proceeds at least equal to the deferred Distributions on such securities and apply the proceeds to pay unpaid Distributions on such securities, commencing on the earlier of (x) the first Distribution Date after commencement of a deferral period on which the Corporation pays current Distributions on such securities and (y) the fifth anniversary of the commencement of such deferral period, and that
Alternative Payment Mechanism means, with respect to any securities or combination of securities referred to in the definition of Replacement Capital Securities, that such securities or related transaction agreements include a provision, substantially similar to Section 5.4 of the First Supplemental Indenture, to the effect that (i) if required by a Mandatory Trigger Provision or if the Corporation has exhausted its rights to defer Distributions at its option pursuant to an Optional Deferral Provision, the Corporation shall, unless a Market Disruption Event has occurred and is continuing, (a) issue and sell shares of its common stock and/or Qualifying Preferred Stock in amount such that the net proceeds of such sale shall equal or exceed such Distributions and (b) apply the net proceeds of such sale to pay Distributions to be paid in full, or (ii) if permitted, but not required, by a Mandatory Trigger Provision, the Corporation may (a) issue and sell shares of its common stock and/or Qualifying Preferred Stock in amount such that the net proceeds of such sale shall equal or exceed such Distributions and (b) apply the net proceeds of such sale to pay Distributions to be paid in full, provided that the aggregate net proceeds from the issuance or sale of Qualifying Preferred Stock that may be used to pay Distributions shall not exceed 25% of the aggregate initial principal amount of the Notes.

Examples of Alternative Payment Mechanism in a sentence

  • Final Redemption Amount:Aggregate Nominal Amount.(i) Alternative Payment Mechanism (Conditions 7(a) and (c)):Not applicable.(ii) Long Maturity Note (Condition 7(f)):Not applicable.(iii) Variable Redemption Amount (Condition 6(d)):Not applicable.24.

  • Alternative Payment Mechanism (Conditions 7(a) and (c)): Not applicable.

  • By the deadline specified by CMS, the ACO shall submit to CMS a financial disclosure statement demonstrating sufficient financial reserves to repay Other Monies Owed incurred as a result of participation in an Alternative Payment Mechanism.

  • The ACO may elect to receive only one Alternative Payment Mechanism.

  • The ACO shall select such Alternative Payment Mechanism, if any, and CMS shall approve or reject the ACO’s selection, in accordance with Section X.C and the applicable appendix of this Agreement.


More Definitions of Alternative Payment Mechanism

Alternative Payment Mechanism has the meaning specified in Section 13.5(a).
Alternative Payment Mechanism means an optional payment mechanism that may be selected by the ACO for a given Performance Year, under which CMS will make interim payments to the ACO during a Performance Year. The three Alternative Payment Mechanisms available for selection are Infrastructure Payments, PBP, and AIPBP.
Alternative Payment Mechanism has the meaning provided in Section 6.2(a) hereof.
Alternative Payment Mechanism has the meaning set forth in Section 2.02(f)(i).
Alternative Payment Mechanism has the meaning specified in Section 2.1(h).
Alternative Payment Mechanism means, with respect to any Qualifying Non-Cumulative Perpetual Preferred Stock, provisions in the terms thereof or of the related transaction documents that, during the continuation of the failure to satisfy one or more financial tests set forth in the terms of thereof or of the related transaction documents, permit the issuer of such securities to make payment of dividends on such securities only from the “eligible proceeds” of one or more types of Qualifying APM Securities unless (if the Corporation elects to so provide in the terms of such securities) the Commission directs otherwise, and that: