Examples of Special Redemption Event in a sentence
The Company will have the right to redeem the Class B Preferred Securities upon the occurrence of a Special Redemption Event with respect to the Company.
Upon the occurrence of a Special Redemption Event with respect to the Trust, holders of the Trust Preferred Securities will be entitled to receive a corresponding number of Class B Preferred Securities.
In the case of redemption upon the occurrence of a Trust Special Redemption Event (as defined in the Agreement), the Company’s Capital Securities would be distributed, after satisfaction of the claims of the creditors, if any, on a pro rata basis to the Holders of the Trust Preferred Securities and the Holder of the Trust Common Security in liquidation of such Holders’ interest in the Trust.
The Company will also have a right, upon the occurrence of a Company Special Redemption Event to redeem the Class B Preferred Securities at any time, in whole but not in part, and upon at least 30 calendar days’ prior notice, subject to the Company having obtained any required regulatory approvals.
Interest earned on the Subordinated Note Receivable is passed through to the holders of the Trust Preferred Securities in the form of interest payments less a spread used to pay operational costs.The Subordinated Note Receivable shall not be redeemable by DB PFK AG prior to the maturity date except upon the occurrence of a Special Redemption Event (see note 6).