Pari Passu Securities definition

Pari Passu Securities means any class or series of capital stock of the Company hereafter created specifically ranking, by its terms, on parity with the Designated Preferred Stock as to distribution of assets upon liquidation, dissolution or winding up of the Company, whether voluntary or involuntary.

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Pari Passu Securities means (i) indebtedness (A) the terms of which provide that such indebtedness ranks equally with the ICONs and (B) that qualifies or is issued to financing vehicles issuing securities that qualify as Tier 1 capital of the Company under the capital guidelines of the FRB; and (ii) guarantees of indebtedness described in clause (i) or securities issued by one or more financing vehicles described in clause (i)(B).

Pari Passu Securities means indebtedness of the Company that ranks in right of payment upon liquidation on a parity with the Debentures, and includes the Debentures.

Examples of Pari Passu Securities in a sentence

If the aggregate principal amount of Securities surrendered by Holders thereof and other Pari Passu Securities surrendered by holders or lenders, collectively, exceeds the amount of Excess Proceeds, the Trustee shall select the Securities to be purchased on a pro rata basis on the basis of the aggregate principal amount of tendered Securities and Pari Passu Securities.
In addition, the Issuer will take any and all other actions required by the agreements governing the Pari Passu Securities.
The Issuer will deliver to the Trustee an Officers’ Certificate stating that such Securities or portions thereof were accepted for payment by the Issuer in accordance with the terms of this Section 3.5 and, in addition, the Issuer will deliver all certificates and notes required, if any, by the agreements governing the Pari Passu Securities.
In addition, the Company will take any and all other actions required by the agreements governing the Pari Passu Securities.
To the extent that the aggregate principal amount of Securities and Pari Passu Securities so validly tendered and not properly withdrawn pursuant to an Asset Disposition Offer is less than the Excess Proceeds, the Parent Guarantor and its Restricted Subsidiaries may use any remaining Excess Proceeds for general corporate purposes, subject to the other covenants contained in this Indenture.

More Definitions of Pari Passu Securities

Pari Passu Securities means any securities ranking by their terms pari passu with the Series A Preferred Stock in respect of redemption or distribution upon liquidation.

Pari Passu Securities means any securities ranking by their terms pari passu with the Preferred Stock in respect of payment of dividends, redemption or distribution upon liquidation.

Pari Passu Securities means (i) the Company’s 5.875% Fixed to Floating Rate Junior Subordinated Notes due 2042, (ii) the Company’s 5.625% Fixed-to-Floating Rate Junior Subordinated Notes due 2043, (iii) the Company’s 5.20% Fixed-to-Floating Rate Junior Subordinated Notes due 2044, (iv) the Company’s 5.375% Fixed-to-Floating Rate Junior Subordinated Notes due 2045, (v) the Company’s 4.500% Fixed-to-Floating Rate Junior Subordinated Notes due 2047, (vi) the Company’s 5.700% Fixed-to-Floating Rate Junior Subordinated Notes due 2048, (vii) the Company’s 3.700% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2050, (viii) the Company’s 5.125% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2052, (ix) the Company’s 5.625% Junior Subordinated Notes due 2058, (x) the Company’s 4.125% Junior Subordinated Notes due 2060 and (xi) the Company’s 6.000% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2052.

Pari Passu Securities means all indebtedness and obligations that, among other things, by their terms rank equally with the Notes in right of payment and upon liquidation and guarantees of such indebtedness and includes the Company’s 5.593% Junior Subordinated Notes due 2043 and the guarantee to be issued on the date hereof to G▇▇▇▇▇▇ Sachs Capital II; provided, however, “Pari Passu Securities” shall not be deemed to include the Company’s junior subordinated debentures or guarantees issued in connection with the Company’s currently outstanding trust preferred securities, each of which ranks or will rank senior to the capital securities being issued by the Issuer Trust, or any junior subordinated debentures or guarantees that may be issued in the future in connection with trust preferred securities.

Pari Passu Securities means (i) the Company’s 5.875% Fixed-to-Floating Rate Junior Subordinated Notes due 2042, (ii) the Company’s 5.625% Fixed-to-Floating Rate Junior Subordinated Notes due 2043, (iii) the Company’s 5.20% Fixed-to-Floating Rate Junior Subordinated Notes due 2044, (iv) the Company’s 5.75% Junior Subordinated Notes due 2052, (v) the Company’s 5.70% Junior Subordinated Notes due 2053 and (vi) the Company’s 8.875% Fixed-to-Floating Rate Junior Subordinated Notes due 2068.

Pari Passu Securities means any “Registrable Securities” (as defined in the 2005 Registration Rights Agreement) held by the Pari Passu Holders.

Pari Passu Securities means any Common Stock held by a Pari Passu Holder that would qualify as Registrable Securities hereunder if the Investor held such securities.