Capital Trusts definition
Examples of Capital Trusts in a sentence
The Trust Agreements and the Guarantee Agreement for each of the other CNA Capital Trusts shall be deemed to be specifically described in this Guarantee Agreement for the purposes of clause (i) of the first proviso contained in Section 310(b) of the Trust Indenture Act.
Executive acknowledges and agrees that the covenants set forth in Part Three hereof are reasonable and necessary for the protection of Capital Trust's business interests, that such covenants will not result in undue economic hardship to Executive, that irreparable injury will result to Capital Trust if Executive breaches any of the terms of said covenants, and that in the event of Executive's actual or threatened breach of any such covenants, Capital Trust will have no adequate remedy at law.
The Severance shall be payable over a period of time equal to the greater of (A) the remainder of the Employment Period had Executive not been so terminated and (B) one (1) year, in either case, beginning on the Termination Date and in regular installments in accordance with Capital Trust's general payroll practices for salaried employees.
Without limiting the generality of the foregoing, the Executive shall manage the business of Capital Trust on a day-to-day basis and shall report to and advise the Board regarding the management and operation of Capital Trust's business.
The parties hereto shall provide such opinions of counsel and officer’s certificates to the trustees of the Capital Trusts for such assumptions in a form reasonably acceptable to the Parties.
Capital Trust VI and Oak Hill Capital Trusts II, III and IV are all wholly-owned trust subsidiaries of Buyer formed for the purpose of issuing “trust preferred securities.” The proceeds from the sale of the securities and the issuance of common stock by the trusts were invested in Junior Subordinated Deferrable Interest Debentures (the “Junior Subordinated Debt”) issued by Buyer and the formerly acquired Oak Hill Bank, which are the sole assets of the trusts.
The Guarantor's obligations under this Guarantee Agreement will rank pari passu with respect to obligations under other guarantee agreements which it may enter into from time to time to the extent that such agreements shall be entered into in substantially the form hereof and provide for comparable guarantees by the Guarantor of payment on preferred securities issued by other DLJ Capital Trusts.
A registration statement on Form S-3, as amended, with respect to the Securities and certain other securities (File No. 333-91815), including a prospectus, copies of which have been delivered to you, has been prepared and filed by the Company and the Semco Capital Trusts I, II and III with the Commission and, as amended, has been declared effective under the Act.
Capital Trust's obligation to the Executive shall be limited to the payment and/or satisfaction of unpaid Base Salary accrued up to the effective date specified in Capital Trust's notice of termination.
The Base Severance shall be payable over a period of time equal to the remainder of the Original Term had Executive not been so terminated beginning on the Termination Date and in regular installments in accordance with Capital Trust's general payroll practices for salaried employees.