Debt Exchangeable for Common Equity definition

Debt Exchangeable for Common Equity means a security or combination of securities (together in this definition, “such securities”) that:
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Debt Exchangeable for Common Equity means a security or combination of securities (together in this definition, “ such securities”) that:
Sample 1Sample 2Sample 3
Debt Exchangeable for Common Equity means a security (or combination of securities) that:
Sample 1Sample 2Sample 3

More Definitions of Debt Exchangeable for Common Equity

Debt Exchangeable for Common Equity means a security or combination of securities that:• gives the holder a beneficial interest in (i) a fractional interest in a stock purchase contract for a share of common stock of AIG that will be settled in three years or less, with the number of shares of common stock of AIG purchasable pursuant to such stock purchase contract to be within a range established at the time of issuance of the subordinated debt securities referred to in clause (ii), subject to customary anti-dilution adjustments, and (ii) debt securities of AIG or one of its subsidiaries that are non-callable prior to the settlement date of the stock purchase contract;• provides that the holders directly or indirectly grant AIG a security interest in such securities and their proceeds (including any substitute collateral permitted under the transaction documents) to secure the holders’ direct or indirect obligation to purchase common stock of AIG pursuant to such stock purchase contracts;• includes a remarketing feature pursuant to which the debt securities are remarketed to new investors commencing not later than the settlement date of the stock purchase contract; and• provides for the proceeds raised in the remarketing to be used to purchase common stock of AIG under the stock purchase contracts and, if there has not been a successful remarketing by the settlement date of the stock purchase contract, provides that the stock purchase contracts will be settled by AIG exercising its remedies as a secured party with respect to the debt securities or other collateral directly or indirectly pledged by holders of the debt exchangeable for common equity.
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Debt Exchangeable for Common Equity means a security (or combination of securities (together in this definition “such securities”) that: • gives the holder a beneficial interest in (i) the Corporation’s or the issuing Affiliate’s, as applicable, debt securities and (ii) a fractional interest in a stock purchase contract for a share of the Corporation’s or such issuing Affiliate’s Common Stock that will be settled in three years or less, with the number of shares of Common Stock purchasable pursuant to such stock purchase contract to be within a range established at the time of issuance of such debt securities; • provides that the investors directly or indirectly grant the Corporation or the issuing Affiliate, as applicable, a security interest in such debt securities and their proceeds (including any substitute collateral permitted under the transaction documents) to secure the investors’ direct or indirect obligation to purchase the Corporation’s or such issuing Affiliate’s Common Stock pursuant to such stock purchase contracts; • includes a remarketing feature pursuant to which the Corporation’s or the issuing Affiliate’s, as applicable, debt securities are remarketed to new investors commencing not later than the first Distribution Date that is at least 1 month prior to the settlement date of the purchase contract; and • provides for the proceeds raised in the remarketing to be used to purchase the Corporation’s or the issuing Affiliate’s, as applicable, Common Stock under the stock purchase contracts and, if there has not been a successful remarketing by the settlement date of the purchase contract, provides that the stock purchase contracts will be settled by the Corporation or such issuing Affiliate foreclosing on the Corporation’s respective debt securities or other collateral directly or indirectly pledged by investors in the Debt Exchangeable for Common Equity.
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Debt Exchangeable for Common Equity has the meaning specified in the Replacement Capital Covenant.
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Related to Debt Exchangeable for Common Equity

  • Common Equity of any Person means Capital Stock of such Person that is generally entitled (a) to vote in the election of directors of such Person or (b) if such Person is not a corporation, to vote or otherwise participate in the selection of the governing body, partners, managers or others that will control the management or policies of such Person.

  • Qualifying Capital Securities means securities (other than Common Stock, rights to acquire Common Stock and securities convertible into Common Stock) that, in the determination of the Corporation’s Board of Directors reasonably construing the definitions and other terms of this Replacement Capital Covenant, meet one of the following criteria:

  • Disqualified Equity Interests of any Person means any class of Equity Interests of such Person that, by its terms, or by the terms of any related agreement or of any security into which it is convertible, puttable or exchangeable (in each case, at the option of the holder thereof), is, or upon the happening of any event or the passage of time would be, required to be redeemed by such Person, at the option of the holder thereof, or matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, in whole or in part, on or prior to the date which is 91 days after the Stated Maturity of the Notes; provided, however, that any class of Equity Interests of such Person that, by its terms, authorizes such Person to satisfy in full its obligations with respect to the payment of dividends or upon maturity, redemption (pursuant to a sinking fund or otherwise) or repurchase thereof or otherwise by the delivery of Equity Interests that are not Disqualified Equity Interests, and that is not convertible, puttable or exchangeable for Disqualified Equity Interests or Indebtedness, will not be deemed to be Disqualified Equity Interests so long as such Person satisfies its obligations with respect thereto solely by the delivery of Equity Interests that are not Disqualified Equity Interests; provided, further, however, that any Equity Interests that would not constitute Disqualified Equity Interests but for provisions thereof giving holders thereof (or the holders of any security into or for which such Equity Interests are convertible, exchangeable or exercisable) the right to require such Person to repurchase or redeem such Equity Interests upon the occurrence of a change of control occurring prior to the 91st day after the Stated Maturity of the Notes shall not constitute Disqualified Equity Interests if the change of control provisions applicable to such Equity Interests are no more favorable to such holders than the provisions of Section 1007, and such Equity Interests specifically provide that the Issuer will not repurchase or redeem any such Equity Interests pursuant to such provisions prior to the Issuer’s purchase of the Notes as required pursuant to the provisions of Section 1007.