Non-Cumulative means, with respect to any Qualifying Capital Securities, that the issuer may elect not to make any number of periodic Distributions without any remedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more Permitted Remedies.
Non-Cumulative means, with respect to any securities, that the issuer thereof may elect not to make any number of periodic Distributions without any remedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more Permitted Remedies. Securities that include an Alternative Payment Mechanism shall also be deemed to be Non-Cumulative for all purposes of this Replacement Capital Covenant.
Non-Cumulative means, as to any security, that the terms of such security provide for Distributions that are non-cumulative and may be skipped by the issuer for any number of Distribution Periods without any remedy arising by the terms of such securities or related transaction agreements in favor of the holders of such securities as a result of the issuer’s failure to pay Distributions, other than Permitted Remedies.
Examples of Non-Cumulative in a sentence
The series of preferred stock, par value $1.00 per share, shall be designated as the “6.875% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series NN” (the “Series NN Preferred Stock”).
The said 6.5 % Non-Cumulative Redeemable Preference Shares are not listed with the Stock Exchanges.
PROVISIONAL RECEIPTwww.hdfc.com Date: _____/_____/__________Received from cheque/draft/HDFC Deposit Receipt No. forRs. dated drawn on Bank Branch towards ❑ Deposit for Senior Citizens ❑ Monthly Income Plan ❑ Non-Cumulative (❑ Quarterly ❑ Half-Yearly) ❑ Annual Income Plan ❑ Cumulative ❑ EasyWay Savingsfor a period of months @ % per annum.
The Shareholders have approved the same through Postal Ballot by remote E-voting on 14th March, 2021.The Allotment Committee of Board of Directors had allotted 50,00,000 -6.5% Non-Cumulative Redeemable Preference Shares, to the below mentioned Preference Shareholders, as under: Name(s) of the Related party and Nature of relationshipA.
In case of MIP and Non-Cumulative deposits, if the first interest due date falls within a week from the deposit date, then the interest for the first broken period will be paid in the next interest cycle.Interest amount (net of TDS - where applicable) will be paid through NACH at all centres where this facility is available.
More Definitions of Non-Cumulative
Non-Cumulative means with respect to any securities that the issuer thereof may elect not to make any number of periodic Distributions without any remedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more Permitted Remedies. Securities that include provisions requiring the Corporation to issue Non-Cumulative perpetual preferred stock, Common Stock and/or other equity securities and apply the proceeds to pay unpaid Distributions on terms substantially similar to the terms of the alternative payment mechanism described in Section 2.1(h) of the Fifth Supplemental Indenture shall also be deemed to be “Non-Cumulative” securities for all purposes of this Replacement Capital Covenant other than the definition of “Qualifying Non-Cumulative Preferred Stock”.
Non-Cumulative means, as to any security, that the terms of such security provide for Distributions that are non-cumulative and may be skipped by the issuer for any number of Distribution Periods without any remedy arising by the terms of such securities or related transaction agreements in favor of the holders of such securities as a result of the issuer’s failure to pay Distributions, other than Permitted Remedies, either for the life of such securities or for such period(s) as may be set forth in the terms of such securities or related transaction agreements.
Non-Cumulative means, with respect to any securities, that the issuer may elect not to make any number of periodic Distributions without any remedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more Permitted Remedies. Securities that include an Alternative Payment Mechanism shall also be deemed to be Non-Cumulative, other than for
Non-Cumulative means, with respect to any securities, that the issuer may elect not to make any number of periodic Distributions without any remedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more Permitted Remedies. Securities that include an Alternative Payment Mechanism shall also be deemed to be Non-Cumulative for all purposes of this Replacement Capital Covenant, other than the definitions of APM Qualifying Securities and Qualifying Non-Cumulative Preferred Stock, and debt securities that include an Alternative Payment Mechanism shall be deemed to be Non-Cumulative for purposes of the definition of Debt Exchangeable for Equity (it being understood that such Alternative Payment Mechanism for purposes of the definition of “Debt Exchangeable for Equity” need not include a Common Cap, a Preferred Cap, a Share Repurchase Provision or a Bankruptcy Claim Limitation Provision).
Non-Cumulative means, with respect to any securities, that the issuer thereof may elect not to make any number of periodic distributions without any remedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more permitted remedies. Securities that include an alternative payment mechanism shall also be deemed to be non-cumulative for all purposes of the Replacement Capital Covenant, other than the definitions of APM qualifying securities and qualifying non-cumulative perpetual preferred stock.
Non-Cumulative means, with respect to any securities, that the issuer thereof may elect not to make any number of periodic Distributions without any remedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more Permitted Remedies. Securities that include either (i) an Alternative Payment Mechanism associated with an Optional Deferral and Forgiveness Provision or (ii) a Mandatory Trigger Provision shall also be deemed to be “Non-Cumulative” securities for all purposes of this Replacement Capital Covenant other than the definition of “Qualifying Non-Cumulative Preferred Stock”.
Non-Cumulative means, with respect to any securities, that the issuer may elect not to make any number of periodic Distributions or interest payments without any remedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more Permitted Remedies. Securities that include an Alternative Payment Mechanism shall also be deemed to be “Non-Cumulative” for all purposes of Section 3.4 of the Second Supplemental Indenture, other than the definitions of “APM Qualifying Securities” and “Qualifying Non-Cumulative Preferred Stock,” and debt securities that include an Alternative Payment Mechanism shall be deemed to be Non-Cumulative for purposes of the definition of “Debt Exchangeable for Preferred Equity,” it being understood that such Alternative Payment Mechanism need not include the provisions described in clause (iv) of the definition of such term.