LLC Preferred Securities definition
Examples of LLC Preferred Securities in a sentence
The Trust Preferred Securities, the LLC Preferred Securities, the Perpetual Non-Cumulative Capital Securities, as defined below, and the related Guarantees, are referred to herein as the "Offered Securities." The LLC will use the proceeds from the sale of the LLC Preferred Securities to acquire, among other things, fixed income securities issued by the Bank (the "Initial Intercompany Securities").
At the Closing Time, the LLC Preferred Securities will have been duly authorized by the LLC Agreement and, when issued and delivered pursuant to the LLC Agreement against payment of the consideration set forth therein, will be duly issued and fully paid and non-assessable, will be entitled to the benefits of the LLC Agreement and will conform to the description thereof in the Prospectus; the issuance of the LLC Preferred Securities is not subject to preemptive or other similar rights.
The ABN AMRO Parties (other than AANAH) have filed with the Securities and Exchange Commission (the "Commission") a registration statement on Form F-3 (file No. 333-104778) to register under the Securities Act of 1933, as amended (the "1933 Act"), the offer and sale of (i) the Trust Preferred Securities, (ii) the LLC Preferred Securities and (iii) the Guarantees and the Contingent Guarantee.
If the LLC gives a notice of redemption in respect of any LLC Preferred Securities, then, by 12:00 noon, New York City time, on the Redemption Date, the LLC will irrevocably deposit with the Property Trustee for the Trust funds sufficient to pay the applicable Redemption Price of the LLC Preferred Securities represented by the LLC Preferred Certificate held by the Trust.
The Remarketing Agent may, but shall not be obligated to purchase Remarketed Trust Preferred Securities (or LLC Preferred Securities or Notes, as the case may be, if either the LLC Preferred Securities or Notes are Remarketed) for its own account.
As the LLC Preferred Securityholder, and in its capacity as a Securityholder of the LLC, neither the Trust nor any successor holder of LLC Preferred Securities shall be required to make any additional contributions to the LLC (except as may be required by law).
All guarantees and agreements contained in this LLC Guarantee shall bind the successors, assigns, receivers, trustees and representatives of the Guarantor and shall inure to the benefit of the Holders of the LLC Preferred Securities then outstanding.
Within 60 days after May 15 of each year, the LLC Guarantee Trustee shall provide to the Holders of the LLC Preferred Securities such reports as are required by Section 313 of the Trust Indenture Act, if any, in the form and in the manner provided by Section 313 of the Trust Indenture Act.
The LLC will irrevocably deposit with a paying agent funds sufficient to pay the applicable Redemption Price on LLC Preferred Securities, if any, not represented by the LLC Preferred Certificate held by the Trust and will give the paying agent irrevocable instructions and authority to pay the Redemption Price to the holders thereof upon surrender of their LLC Preferred Securities Certificates.
The Holders of a Majority in Liquidation Amount of the LLC Preferred Securities may, by vote or written consent, on behalf of the Holders of all of the LLC Preferred Securities, waive any past Event of Default and its consequences.