FCN Guarantee definition

FCN Guarantee means any Common Securities Guarantee or Preferred Securities Guarantee. "Federal Reserve" means the Board of Governors of the Federal Reserve System. "Financing Entity" means any trust, partnership or other entity affiliated with the Company that is a financing vehicle of the Company and which issues securities that rank pari passu with or junior to, Trust Securities, including, but not limited to, First Chicago NBD Institutional Capital A and First Chicago NBD Institutional Capital B, both statutory business trusts created under the laws of the State of Delaware. "Foreign Currency" means a currency issued by the government of any country other than the United States of America. "General Obligations" means, unless otherwise determined with respect to any series of Securities pursuant to Section 3.01, all obligations of the Company to make payment on account of claims in respect of derivative products such as interest and foreign exchange rate contracts, commodity contracts and similar arrangements, other than (i) obligations on account of Senior Indebtedness, (ii) obligations on account of indebtedness for money borrowed ranking pari passu with or subordinate to the Securities and (iii) obligations which by their terms are expressly stated not to be superior in right of payment to the Securities or to rank on a parity with the Securities; provided, however, that notwithstanding the foregoing, in the event that any rule, guideline or interpretation promulgated or issued by the Board of Governors of the Federal Reserve System (or 4
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Examples of FCN Guarantee in a sentence

  • The obligations of the Guarantor under this Preferred Securities Guarantee shall rank pari passu with the obligations of the Guarantor under (i) any similar FCN Guarantee (as defined in the Indenture) issued by the Guarantor on behalf of the holders of preferred or capital securities issued by any FCN Capital Trust (as defined in the Indenture) or (ii) the Series A Guarantee or the Series B Guarantee.

  • Off With respect to the Securities of a series issued to an FCN Trust, or a trustee of such trust, notwithstanding anything to the contrary herein, the Company shall have the right to set-off any payment it is otherwise required to make thereunder in respect of any such Security to the extent the Company has theretofore made, or is concurrently on the date of such payment making, a payment under the FCN Guarantee relating to such Security or under Section 7.08 hereof.

  • The obligations of the Guarantor under this Preferred Securities Guarantee shall rank pari passu with the obligations of the Guarantor under (i) any similar FCN Guarantee or BANK ONE Guarantee(as defined in the Indenture) issued by the Guarantor on behalf of the holders of preferred or capital securities issued by any FCN Capital Trust or BANK ONE Capital Trust (as defined in the Indenture) and (ii) the Series A Guarantee and the Series B Guarantee.