QUIPS definition

QUIPS means, on any date of determination, all outstanding preferred stock and other preferred securities of the Borrower and its Subsidiaries, including preferred securities issued by any subsidiary trust.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

QUIPS means the 5% Convertible Quarterly Income Preferred Securities issued pursuant to the Trust Agreement.

QUIPS means the 63/4% Convertible Preferred Securities issued by Host Marriott Financial Trust, a statutory business trust and a Subsidiary of HMC.

Examples of QUIPS in a sentence

• The Holders of QUIPS will not be able to exercise directly any other remedy available to the holders of the Debentures.

• The Unit Agent shall not be accountable for the use or application by the Company of the proceeds in respect of the QUIPS or Purchase Contracts.

• The Trust at any time may deliver QUIPS to the Property Trustee for cancellation.

• Notwithstanding the foregoing, AT&T's notice to terminate this Agreement pursuant to this Section 9.18(b) shall not be effective if, prior to the expiration of such two Business Day period, Comcast delivers a written notice pursuant to and in accordance with the second sentence of Section 9.18(c) (which notice complies with the proviso thereof), unless Comcast fails to close within 60 days of the QUIPS Failure Date, in which event AT&T shall be entitled to terminate this Agreement.

• Without unreasonable delay, the Trust shall prepare and, in the case of the QUIPS, the Property Trustee shall authenticate definitive securities in exchange for temporary securities.

• Any approval or direction of Holders of QUIPS may be given at a separate meeting of such Holders of QUIPS convened for such purpose, at a meeting of all of the Holders of Securities in the Trust or pursuant to written consent.

• The Administrators are required to call a meeting of the Holders of the QUIPS if directed to do so by the Holders of at least 10% in liquidation amount of the QUIPS.

• At such time as all beneficial interests in a Global Security have either been exchanged for Definitive QUIPS to the extent permitted by this Declaration or redeemed, repurchased or canceled in accordance with the terms of this Declaration, such Global Security shall be returned to the Clearing Agency for cancellation or retained and canceled by the Property Trustee.

• If an Event of Default under the Declaration has occurred and is continuing, the Property Trustee and the Delaware Trustee may be removed at such time by the Holders of a Majority in liquidation amount of the outstanding QUIPS.

• The aggregate number of QUIPS outstanding at any time shall not exceed the number set forth in the Terms in Annex I hereto except as provided in Section 7.6.

More Definitions of QUIPS

QUIPS has the meaning set forth in the Merger Agreement.

QUIPS. (sm)* means ____% Quarterly Income Preferred Securities of the Trust issued under the Declaration, which term may refer to a single security or more than one security as the context may require.

QUIPS means the 6.50% Cumulative Quarterly Income Convertible Preferred Securities, Series A issued or to be issued by the QUIPS Trust for an aggregate liquidation preference amount not to exceed $145,000,000, plus any prepayment premiums.

QUIPS means undivided beneficial interests in the assets of Life Re Capital Trust which rank pari passu with the Common Trust Securities issued by Life Re Capital Trust; provided, however, that if an Event of Default (solely as the result of an event described in clauses (a), (b) or (c) thereto) has occurred and is continuing, no payments in respect of Distributions (as defined in the Declaration) on, or payments upon liquidation, redemption or otherwise with respect to, the Common Trust Securities shall be made until the -

QUIPS means the 63/4% Convertible Preferred Securities issued by Host Marriott Financial Trust, a statutory business trust and a Subsidiary of

QUIPS means the 6 3/4% Convertible Preferred Securities issued by Host Financial Trust, a statutory business trust and a Subsidiary of Host.