Capital Securities definition

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

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.

Capital Securities has the meaning set forth in the recitals to this Guarantee.

Examples of Capital Securities in a sentence

The outstanding Capital Securities in all Subsidiaries are validly issued, fully paid and non-assessable and are owned free and clear of all Liens.
In connection therewith, the Loan Parties shall give notice to the Administrative Agent not less than ten (10) days prior to creating a Subsidiary (or such shorter period of time as agreed to by the Administrative Agent in its reasonable discretion), or acquiring the Capital Securities of any other Person.
There are no outstanding subscriptions, options, warrants, calls, rights or other agreements or commitments (other than stock options, stock appreciation rights and restricted stock units granted to employees or directors and directors’ qualifying shares) of any nature relating to the Capital Securities of any Loan Party or any Subsidiary thereof, except as contemplated in connection with the Loan Documents.
For purposes of clarification, if a Subsidiary ceases to be a Subsidiary of the Borrower as a result of the Borrower’s transfer or sale of a majority of the Capital Securities of such Subsidiary in accordance with and to the extent not prohibited by the Loan Documents, the Administrative Agent and the Lenders agree to release such Subsidiary from this Agreement and release the Capital Securities of such Subsidiary from the Security Agreement.

More Definitions of Capital Securities

Capital Securities has the meaning set forth in paragraph 1(a) of Annex I.

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

Capital Securities has the meaning specified in the Recitals hereto.

Capital Securities means, collectively, the Series A Capital Securities and the Series B Capital Securities.

Capital Securities means undivided beneficial interests in the assets of the Trust which are designated as “MMCapSSM” and rank pari passu with Common Securities issued by the Trust; provided, however, that if an Event of Default (as defined in the Declaration) has occurred and is continuing, 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.

Capital Securities has the meaning set forth in Section 6.1(a).

Capital Securities means, with respect to any Person, all shares, interests, participations or other equivalents (however designated, whether voting or non-voting) of such Person’s capital, whether now outstanding or issued after the Closing Date, including common shares, ordinary shares, preferred shares, membership interests or share capital in a limited liability company or other Person, limited or general partnership interests in a partnership, beneficial interests in trusts or any other equivalent of such ownership interest or any options, warrants and other rights to acquire such shares or interests, including rights to allocations and distributions, dividends, redemption payments and liquidation payments.