Preferred Securities has the meaning specified in the first recital of this Indenture.

Preferred Securities means undivided beneficial interests in the assets of the Trust which rank pari passu with Common Securities issued by the Trust; provided, however, that upon the occurrence of an Event of Default, the rights of holders of Common Securities to payment in respect of distributions and payments upon liquidation, redemption and otherwise are subordinated to the rights of holders of Preferred Securities.

Preferred Securities means with respect to any Person, Equity Interests in such Person, which are entitled to preference or priority over any other Equity Interest in such Person in respect of the payment of dividends or distribution of assets upon liquidation, or both.

Examples of Preferred Securities in a sentence

Upon the expiry of such notice, the Company shall be bound to redeem the Preferred Securities accordingly.
Notwithstanding that Holders of Preferred Securities are entitled to vote under any of the limited circumstances described above, any Preferred Security outstanding at such time that is owned by the Bank, or any entity of which the Bank, either directly or indirectly, owns 20 per cent.
Application has been made to list the Preferred Securities on the Luxembourg Stock Exchange.
Notwithstanding the foregoing, the Company may only issue further Preferred Securities if, at the same time, the Bank issues in respect of the further Preferred Securities a guarantee having terms and conditions that are substantially identical to the Guarantee (or extends the Guarantee to cover the further Preferred Securities).
If, at any time falling prior to but excluding the First Call Date, a Capital Disquali¢cation Event has occurred and is continuing, the Preferred Securities may be redeemed, in whole but not in part, at the option of the Company on the next Preferred Dividend Payment Date, upon not less than 30 or more than 60 days’ notice to the Holders of the Preferred Securities (which notice shall be irrevocable).

More Definitions of Preferred Securities

Preferred Securities has the meaning set forth in the Recitals.

Preferred Securities has the meaning set forth in the first WHEREAS clause above.

Preferred Securities has the meaning specified in Section 7.1(a).

Preferred Securities has the meaning specified in the recitals to this Guarantee Agreement.

Preferred Securities means the preferred limited liability company membership units of the Company or preferred stock of the Company, if the Company is restructured as a corporation, including the securities issuable upon the conversion of this instrument pursuant to Sections 1(b)(i) or 1(d).

Preferred Securities shall have the meaning specified in the first recital of this Guarantee Agreement.

Preferred Securities mean the securities representing preferred undivided beneficial interests in the assets of the Issuer.