TRUPS definition

TRUPS means certain preferred securities issued by GGP Capital Trust I.

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TRUPS means trust preferred securities issued to investors by a wholly-owned Subsidiary of the Borrower formed as a business trust (each a “TruPS Business Trust”) pursuant to organizational and charter documents substantially similar to those of the Existing TruPS Business Trusts, in exchange for an investment of funds by such investors, which funds in turn are loaned by such TruPS Business Trust to the Borrower in exchange for the issuance by the Borrower of Indebtedness in the form of a debenture or similar instrument to such TruPS Business Trust (each a “TruPS Instrument”) and which otherwise contains provisions substantially similar to those set forth in the Subordinated Debt outstanding.

TRUPS the $150,000,000 8.65% Capital Trust Pass-through Securities (of which $98,200,000 remains outstanding) issued in January 1997 by Leucadia Capital Trust I, all of the common capital securities of which are owned by the Company.

Examples of TRUPS in a sentence

• Green and Patriot shall take all actions necessary to effect, immediately prior to and contingent upon the occurrence of the Closing, the assumption by Green of the Patriot TRUPS in accordance with the terms thereof and the documents and agreements related thereto (the “Patriot TRUPS Assumption”).

• Each of the Patriot Preferred Stock Redemption, the Patriot Preferred Stock Conversion and the Patriot TRUPS Assumption shall have occurred.

• In addition, at the Closing, Acquiror will pay, on behalf of the Company, the Accrued TRUPS Interest to the Trustee.

• Additionally, under the terms of the TRUPS (as defined and discussed below), the Company is prohibited from paying any dividends while payments of interest on said TRUPS are in deferral.

• A holder of a Definitive Preferred Securities Certificate that is a QIB/QP or an Existing TRUPS Holder may, upon request and in accordance with the provisions of this Section 5.6 and Section 5.7, exchange such Definitive Preferred Securities Certificate for a beneficial interest in a Global Preferred Security.

• Notwithstanding the foregoing, if an Owner of a beneficial interest in a Global Preferred Security wishes at any time to transfer an interest in such Global Preferred Security to a Person other than a QIB/QP or an Existing TRUPS Holder, such transfer shall be effected, subject to the Applicable Depositary Procedures, in accordance with the provisions of this Section 5.6 and Section 5.7, and the transferee shall receive a Definitive Preferred Securities Certificate in connection with such transfer.

• The Company has performed, or has caused the Trust to perform, all of the obligations required to be performed by it and is not in default under the terms of the Trust Debentures or the Trust Preferred Securities or any agreements related thereto (it being understood, however, that the Company has deferred the payment of interest under the Trust Debentures and that the Accrued TRUPS Interest will be paid by Acquiror, on behalf of the Company, at the Closing).

• As of the date of this Agreement, and absent any additional equity capital raise, consummation of a merger transaction, or refinancing of the Company’s existing senior secured debt with BMO ▇▇▇▇▇▇, the Company does not have the financial capacity to pay its existing obligations under the TRUPS, and is therefore unable to make any payment of dividends on the Securities nor will the Company request regulatory approval to do so while contractually barred from making such dividend payments.

• Except for the Requisite Regulatory Approvals, the Registration Statement, the TRUPS Assumption, and the stock exchange listing required under Section 6.6, neither Nicolet nor any of its Subsidiaries is or will be required to give any notice to or obtain any consent from any Person in connection with the execution and delivery of this Agreement or the consummation or performance of any of the Contemplated Transactions.

• The Preferred Securities issued to a Person other than a QIB/QP or an Existing TRUPS Holder shall be issued in the form of Definitive Preferred Securities Certificates.

More Definitions of TRUPS

TRUPS means certain preferred securities issued by GGP Capital Trust I. (dddd) “Unrestricted Cash” means all cash and Cash Equivalents of the Company and of the Subsidiaries of the Company, but excluding any cash or Cash Equivalents that are controlled by or subject to any lien, security interest or control agreement, other preferential arrangement in favor of any creditor or otherwise encumbered or restricted in any way.

TRUPS means trust preferred securities evidencing, inter alia, an interest in the Debentures pursuant to the Indentures.

TRUPS means trust preferred securities.

TRUPS means those REIT trust preferred securities issued by a Consolidated Party identified on Schedule 1.1 hereto and such other REIT trust preferred securities issued by a Consolidated Party which are approved by the Administrative Agent, in each case which are expressly subordinated to all other Indebtedness of the Consolidated Parties. REIT trust preferred securities issued by a Consolidated Party shall be approved by the Administrative Agent if such securities are issued on terms substantially similar to those securities listed on Schedule 1.1, as determined by the Administrative Agent in its reasonable discretion.

TRUPS means preferred securities, having no voting or management rights prior to the occurrence of certain designated events, issued by a TRUPS Trust.

TRUPS means the Junior Subordinated Debentures issued to FTST by the Company.