Preferred Equity Units definition

Preferred Equity Units means a series of preferred equity interests to be authorized by Rhino after the Closing Date with terms satisfactory to the Payee in its sole discretion.
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Preferred Equity Units means a security (or combination of securities) that (i) gives the holder a beneficial interest in (A) the most junior subordinated debt of the Corporation (or debt that is pari passu with the most junior subordinated debt of the Corporation), interest on which may be deferred for five years or more and, commencing with the date two years after the beginning of an interest deferral period, will be paid pursuant to an Alternative Payment Mechanism, and (B) a fractional interest in a contract to purchase Common Stock or Qualifying Non-Cumulative Preferred Stock, (ii) includes a remarketing feature pursuant to which subordinated debt of the Corporation is remarketed to new investors within five years from the date of issuance of the security or earlier in the event of an early settlement event based on (A) the capital or other applicable ratios of the Corporation or (B) the dissolution of the issuer of such Preferred Equity Units, (iii) provides for the proceeds raised in the remarketing to be used to purchase Common Stock or Qualifying Non-Cumulative Preferred Stock of the Corporation, (iv) includes an Explicit Replacement Covenant, provided that such Explicit Replacement Covenant will not include Preferred Equity Units in the definition of “replacement capital securities,” and (v) after the issuance of such Common Stock or Qualifying Non-Cumulative Preferred Stock, provides the holder of the security with a beneficial interest in such Common Stock or Qualifying Non-Cumulative Preferred Stock.
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Examples of Preferred Equity Units in a sentence

  • Where the SSRO has expressly waived its rights under the Contract in respect of any occurrence such waiver shall not be deemed to be effective in respect of any subsequent occurrence.

  • The requirement to provide opinions pursuant to this paragraph shall be waived for any Representation Date described in clause (ii) of the definition thereof occurring at a time at which no instruction to the Manager to sell AMC Preferred Equity Units pursuant to this Agreement has been delivered by the Company or is pending.

  • No assurance can be provided that our Class A common stock and AMC Preferred Equity Units will be regularly traded on an established securities market at all times for purposes of the rules described above.

  • If any attempt is made to sell, exchange, transfer, pledge, hypothecate, or otherwise dispose of any Preferred Equity Units held by the Preferred Equity Members, the Preferred Equity Interests that are the subject of such attempted disposition will be deemed forfeited by the Preferred Equity Member as of the date of such action, and the Company will repurchase them as described in Section 1(c) of this Preferred Equity Rider.

  • Thus, our stockholders bear the risk of our future offerings potentially reducing the market price of our AMC Preferred Equity Units.

  • The foregoing rate of compensation shall not apply when the Manager acts as principal, in which case the Company may sell AMC Preferred Equity Units to the Manager as principal at a price to be mutually agreed upon by the Company and the Manager at the relevant Applicable Time pursuant to a Terms Agreement.

  • Stockholders may not approve the common stock amendment and the AMC Preferred Equity Units may never convert into Class A common stock.

  • The Registration Statement, at the Execution Time, each such time this representation is repeated or deemed to be made, and at all times during which a prospectus is required by the Securities Act to be delivered (whether physically or through compliance with Rule 172 or any similar rule) in connection with any offer or sale of AMC Preferred Equity Units, meets the requirements set forth in Rule 415(a)(1)(x).

  • Record dates for the payment of dividends and other matters relating to the AMC Preferred Equity Units will be the same as the corresponding record dates for the Preferred Stock.

  • If the Company or its transfer agent (if applicable) shall default on its obligation to deliver the AMC Preferred Equity Units on any Settlement Date, the Company shall (A) indemnify and hold the Manager harmless against any loss, claim or damage arising from or as a result of such default by the Company and (B) pay each the Manager any commission to which it would otherwise be entitled absent such default.