Initial Covered Debt definition

Initial Covered Debt means the Corporation’s 6.25% Notes due 2036, CUSIP No. 000000XX0.

Initial Covered Debt means the Corporation’s junior subordinated debt securities underlying the 6.00% Capital Securities (TruPS®) issued by Citigroup Capital XI (CUSIP: 10000X000).

Initial Covered Debt means the Corporation’s 6.625% Senior Notes due 2037, which have CUSIP No. 00000XXX0.

Examples of Initial Covered Debt in a sentence

• The Corporation represents and warrants that the Initial Covered Debt is Eligible Debt.

• The Company hereby makes the covenants contained in the Replacement Capital Covenant (a final, executed copy of which is attached hereto as Exhibit A) solely for the benefit of the holders of the Initial Covered Debt (except as such covenants may be extended to the benefit of holders of Securities constituting Covered Debt as set forth in Section 2.02 below), as the same may be amended or supplemented in accordance with the terms thereof.

• The Corporation and the Guarantor represent and warrant that the Initial Covered Debt is Eligible Debt.

• Nothing herein shall require the consent of the holders of the Initial Covered Debt to any amendment, supplement or other action taken pursuant to the Replacement Capital Covenant, except as it may be required pursuant to the terms of such Replacement Capital Covenant.

• Adding a new and additional final sentence to Section 4(a) of the Replacement Capital Covenant as set forth below:Notwithstanding any other provision herein, the Covered Debt shall at all times be the Initial Covered Debt, and at any time the principal amount outstanding of the Initial Covered Debt shall be less than $100 million, then this Replacement Capital Covenant shall terminate and be of no further force and effect.

More Definitions of Initial Covered Debt

Initial Covered Debt means the Corporation’s 5.875% Junior Subordinated Deferrable Interest Debentures, Series O, due 2035.

Initial Covered Debt means 5.875% junior subordinated debentures due 2035, underlying the 5.875% trust preferred securities of USB Capital VII (CUSIP No. 900000000).

Initial Covered Debt means the Corporation’s 5.625% Junior Subordinated Debentures due 2034, CUSIP No. 000000000.

Initial Covered Debt means the Corporation’s 5.70% Senior Notes due 2035.

Initial Covered Debt means the Corporation’s 4.50% Subordinated Notes due June 1, 2018, which have CUSIP No. 000000XX0.

Initial Covered Debt means the Corporation’s 6.9% Senior Debentures due 2038 (CUSIP: 000000XX0).

Initial Covered Debt means the Corporation’s 2.375% Subordinated Notes due 2015, which have CUSIP No. 000000XX0.