Capital Trust Preferred Securities definition
Examples of Capital 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.
Except as otherwise described herein, distributions on the Capital Trust Preferred Securities will be non-cumulative, and will be payable quarterly, on January 15, April 15, July 15, and October 15 of each year, commencing on October 15, 1999.
In case of any redemption at the election of Capital Trust, Capital Trust shall, at least 45 days and no more than 60 days prior to any date fixed for redemption, notify the Capital Property Trustee of such date and the aggregate liquidation amount of the Capital Trust Preferred Securities to be redeemed and provide a copy of the Redemption/Distribution Notice.
Interests of beneficial owners in Global Security may be transferred or exchanged for definitive Capital Trust Preferred Securities and definitive Capital Trust Preferred Securities may be transferred or exchange for Global Securities in accordance with rules of the Depositary and the provisions of Section 7.13.
The maximum aggregate liquidation amount of Series B Capital Trust Preferred Securities that may be issued by Capital Trust is $150,000,000.
The Purchase Agreement provides for the sale by the Trust to the Purchasers of $75,000,000 aggregate principal amount of the Trust's 8 7/8% Preferred Securities, liquidation amount $1,000 per security, designated the 8 7/8% Capital Trust Preferred Securities (the "Preferred Securities").
The maximum aggregate liquidation amount of Series A Capital Trust Preferred Securities that may be issued by Capital Trust is $150,000,000.
If the Capital 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 Trust has authorized the issuance and sale of up to $75,000,000 aggregate principal amount at issuance of its 8 7/8% Capital Trust Preferred Securities (the "Preferred Securities") to be issued pursuant to and in accordance with the terms of the Declaration.
Unconditional Right of Holders to Receive Principal and Interest; Capital Trust Preferred Securities Holders' Rights.................................