Asset Trust Preferred Securities definition

Asset Trust Preferred Securities has the meaning set forth in the Asset Trust Declaration.
Sample 1
Asset Trust Preferred Securities means, collectively, the Series A Asset Trust Preferred Securities and the Series B Asset Trust Preferred Securities.
Sample 1
Asset Trust Preferred Securities has the meaning set forth in the Asset Declaration.
Sample 1

Examples of Asset Trust Preferred Securities in a sentence

  • Amounts available to Capital Trust for distribution to the Holders of the Capital Trust Preferred Securities will be limited to payments received by Capital Trust from Asset Trust on the Asset Trust Preferred Securities or from the Company on the Capital Trust Guarantee.

  • The Asset Trust Common Securities of the Asset Trust will have a nominal liquidation amount with respect to the assets of the Asset Trust of $1,000 per Asset Trust Common Security and upon liquidation of the Asset Trust, will entitle the Holders thereof to all of the assets of the Asset Trust after payment of all creditors of the Asset Trust and all amounts distributable to Holders of the Asset Trust Preferred Securities.

  • If the Asset Trust Preferred Securities are in book-entry-only form, distributions will be payable to the Holders of record as they appear on the books and records of the Security Register on the relevant record dates, which will be one Business Day prior to the relevant payment dates.

  • The right, title and interest of the Capital Property Trustee to the Asset Trust Preferred Securities shall vest automatically in each Person who may hereafter be appointed as Capital Property Trustee in accordance with Section 6.7. Such vesting and cessation of title shall be effective whether or not conveyancing documents with regard to the Asset Trust Preferred Securities have been executed and delivered.

  • The Guarantor acknowledges that its obligations hereunder are independent of the obligations of the Asset Trust with respect to the Asset Trust Preferred Securities, and that the Guarantor shall be liable as principal and as debtor hereunder to make Asset Guarantee Payments pursuant to the terms of this Asset Trust Preferred Guarantee notwithstanding the occurrence of any event referred to in subsections 5.3(a) through 5.3(g), inclusive, hereof.

  • The Asset Trust Preferred Securities are transferable on the books and records of the Trust, in person or by a duly authorized attorney, upon surrender of this certificate duly endorsed and in proper form for transfer as provided in the Declaration (as defined below).

  • Holders of Asset Trust Preferred Securities will be given not less than 30 nor more than 60 days notice of such redemption.

  • The Asset Trust and the Asset Property Trustee may for all purposes, including the making of payments due on the Asset Trust Preferred Securities, deal with the Depositary as the authorized representative of the Holders for the purposes of exercising the rights of Holders hereunder.

  • This Asset Trust Preferred Guarantee is solely for the benefit of the Holders of the Asset Trust Preferred Securities and, subject to Section 3.1(a), is not separately transferable from the Asset Trust Preferred Securities.

  • Each Asset Trust Preferred Securities Holder's respective ownership of Asset Trust Preferred Securities shall be set forth on the books and records of the Asset Trust.

Related to Asset Trust Preferred Securities

  • Trust Preferred Securities any preferred securities issued by a Trust Preferred Securities Subsidiary, where such preferred securities have the following characteristics:

  • Preferred Securities has the meaning specified in the first recital of this Indenture.

  • Capital Securities means undivided beneficial interests in the assets of the Trust which rank pari passu with Common Securities issued by the Trust; provided, however, that upon the occurrence and continuance of an Event of Default (as defined in the Declaration), the rights of holders of such Common Securities to payment in respect of distributions and payments upon liquidation, redemption and otherwise are subordinated to the rights of holders of such Capital Securities.

  • Equity Preferred Securities means, with respect to any Person, any trust preferred securities or deferrable interest subordinated debt securities issued by such Person or other financing vehicle of such Person that (i) have an original maturity of at least twenty years, and (ii) require no repayments or prepayments and no mandatory redemptions or repurchases, in each case, prior to the first anniversary of the latest Maturity Date.

  • Hybrid Preferred Securities means any preferred securities issued by a Hybrid Preferred Securities Subsidiary, where such preferred securities have the following characteristics:

  • Common Securities means the securities representing common undivided beneficial interests in the assets of the Issuer.

  • Non Book-Entry Preferred Securities shall have the meaning set forth in Section 2.4.

  • Book-Entry Preferred Securities Certificates means a beneficial interest in the Preferred Securities Certificates, ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 5.11.

  • Trust Securities means the Common Securities and the Capital Securities.

  • Preferred Securities Certificate means a certificate evidencing ownership of Preferred Securities, substantially in the form attached as Exhibit C.

  • Hybrid Preferred Securities Subsidiary means any Delaware business trust (or similar entity) (i) all of the common equity interest of which is owned (either directly or indirectly through one or more wholly-owned Subsidiaries of the Company) at all times by the Company or a wholly-owned direct or indirect Subsidiary of the Company, (ii) that has been formed for the purpose of issuing Hybrid Preferred Securities and (iii) substantially all of the assets of which consist at all times solely of Junior Subordinated Debt issued by the Company or a wholly-owned direct or indirect Subsidiary of the Company (as the case may be) and payments made from time to time on such Junior Subordinated Debt.

  • Series D Notes is defined in Section 1.

  • Series A Debentures means the 8.675% Series A Junior Subordinated Deferrable Interest Debentures due February 1, 2027 of the Debenture Issuer issued pursuant to the Indenture.

  • Definitive Preferred Securities Certificates means Preferred Securities issued in certificated, fully registered form that are not Global Preferred Securities.

  • Series A Securities means the Company's 10.01% Series A Junior Subordinated Deferrable Interest Debentures due March 15, 2027, as authenticated and issued under this Indenture.

  • Trust Common Securities means the securities representing common undivided beneficial interests in the assets of the Trust.

  • Preferred Security means an undivided beneficial interest in the assets of the Trust, having a Liquidation Amount of $1,000 and having the rights provided therefor in this Trust Agreement.

  • NIM Securities Any debt securities secured or otherwise backed by some or all of the Class X and Class P Certificates that are rated by one or more Rating Agencies.

  • Non Book-Entry Capital Securities shall have the meaning set forth in Section 2.05.

  • UST Preferred Stock means the Issuer’s Fixed Rate Cumulative Perpetual Preferred Stock, Series [●].

  • Capital Securities Guarantee Trustee means The Bank of New York, a New York banking corporation, until a Successor Capital Securities Guarantee Trustee has been appointed and has accepted such appointment pursuant to the terms of this Capital Securities Guarantee and thereafter means each such Successor Capital Securities Guarantee Trustee.

  • Series C Notes is defined in Section 1.

  • Capital Securities Certificate means a certificate evidencing ownership of Capital Securities, substantially in the form attached as Exhibit D.

  • Successor Capital Securities Guarantee Trustee means a successor Capital Securities Guarantee Trustee possessing the qualifications to act as Capital Securities Guarantee Trustee under Section 4.1.