Examples of Fifth Deferral Anniversary in a sentence
In the event that a Trigger Period is no longer continuing and at the termination of the Trigger Period there is no unpaid interest from an Optional Deferral Period that had continued beyond the Fifth Deferral Anniversary, the Company may pay subsequent interest in cash from any source of funds.
Upon and after the Fifth Deferral Anniversary, if a Market Disruption Event has occurred and is continuing, the Company shall give, as promptly as possible after the Company becomes aware of such occurrence, a written notice (a "Market Disruption Event Notice") to the Trustee, stating the date on which such Market Disruption Event has occurred, the nature thereof and what action it will take in connection therewith.
Upon and after the Fifth Deferral Anniversary, if a Supervisory Event has occurred and is continuing, the Company shall give, as promptly as possible after the Company becomes aware of such occurrence, a written notice (a "Supervisory Event Notice") to the Trustee stating that a Supervisory Event has commenced and the actions it will take in connection therewith.
Following the Fifth Deferral Anniversary of any Optional Deferral Period, the Company cannot pay such Optionally Deferred Interest from sources other than the net proceeds from the sale of Qualifying APM Securities, except that on or after the Final Maturity Date or an Acceleration Date, the Company may pay any accrued and unpaid interest without regard to the source of funds.
If such efforts are successful, the Company must pay Optionally Deferred Interest out of the net proceeds from the sale of such Qualifying Securities on the next succeeding Interest Payment Date following the Fifth Deferral Anniversary, but the Company cannot pay such Optionally Deferred Interest from sources other than the net proceeds from the sale of such Qualifying Securities.
If such efforts are successful, the Company must pay Optionally Deferred Interest out of the net proceeds from the sale of Common Stock on the next succeeding Interest Payment Date following the Fifth Deferral Anniversary.
During any Optional Deferral and for so long as any Optionally Deferred Interest remains outstanding (an "Optional Deferral Period"), the Company may pay Optionally Deferred Interest that was deferred through the Fifth Deferral Anniversary out of any source of funds.
However, any unpaid interest, that accrued during the continuance of a Trigger Period or an Optional Deferral Period that continued beyond the Fifth Deferral Anniversary may only be satisfied in accordance with the provisions of the Alternative Payment Mechanism, except that on the Final Maturity Date and the Acceleration Date of the Junior Subordinated Debentures, the Company may pay any accrued and unpaid interest without regard to the source of funds.
During any Optional Deferral and for so long as any Optionally Deferred Interest remains outstanding (an “Optional Deferral Period”), the Company may pay Optionally Deferred Interest that was deferred through the Fifth Deferral Anniversary out of any source of funds.
If Optional Deferral has continued beyond the Fifth Deferral Anniversary (as defined in Section 6.3), then the provisions of Section 6.3 hereof will apply, and the Company must (except upon an Event of Default with respect to the Capital Securities) make Commercially Reasonable Efforts to sell certain Qualifying Securities.