Trust Originated Preferred Securities definition

Trust Originated Preferred Securities and "TOPrS" are service marks of Merrxxx Xxxcx & Xo., Inc. 2 shall hereinafter be referred to as the "Representatives"), with respect to the sale by the Trust and the purchase by the Underwriters, acting severally and not jointly, of the respective numbers of [ ]% Trust Originated Preferred Securities (liquidation amount of $25 per preferred security) of the Trust (the "Preferred Securities") set forth in said Schedule A (except as may otherwise be provided in the Pricing Agreement, as hereinafter defined) and with respect to the grant by the Offerors to the Underwriters, acting severally and not jointly, of the option described in Section 2(c) hereof to purchase all or any part of 600,000 additional shares of Preferred Securities to cover over-allotments (except as may otherwise be provided in the Pricing Agreement). All or any part of the 600,000 shares of Preferred Securities subject to the option described in Section 2(c) hereof are hereinafter referred to as the "Option Securities". The Preferred Securities will be guaranteed by the Company with respect to distributions and payments upon liquidation, redemption and otherwise (the "Preferred Securities Guarantee") pursuant to and subject to the limitations set forth therein, the Preferred Securities Guarantee Agreement (the "Preferred Securities Guarantee Agreement"), dated as of February __, 1996, between the Company and The Chase Manhattan Bank, N.A., a national banking association, as trustee (the "Guarantee Trustee"), and entitled to the benefits of certain undertakings pursuant to the Indenture (as defined herein) to pay all expenses relating to administration of the Trust (the "Undertakings"). The Preferred Securities and the related Preferred Securities Guarantee and the Option Securities are referred to herein as the "Securities." Prior to the purchase and public offering of the Preferred Securities by the several Underwriters, the Offerors and the Representatives, acting on behalf of the several Underwriters, shall enter into an agreement substantially in the form of Exhibit A hereto (the "Pricing Agreement"). The Pricing Agreement may take the form of an exchange of any standard form of written telecommunication between the Offerors and the Representative and shall specify such applicable information as is indicated in Exhibit A hereto. The offering of the Preferred Securities will be governed by this Agreement, as supplemented by the Pricing Agreement. From and after the date of the executio...
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Trust Originated Preferred Securities and "TOPrS" are service marks of Merrxxx Xxxcx & Xo., Inc.
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Trust Originated Preferred Securities and "TOPrS" are service marks of Xxxxxxx Xxxxx & Co. Inc. B3 265040.8 51200 00722 11/14/96 8:37 pm If the foregoing is in accordance with your understanding of our agreement, please sign and return to the Trust a counterpart hereof, whereupon this instrument, along with all counterparts, will become a binding agreement among the Underwriters and the Offerors in accordance with its terms. Very truly yours, CONSECO, INC. By: ----------------------------- Name: Title: CONSECO FINANCING TRUST I By: ------------------------------ Name: Xxxxxxx X. Xxxxxxx Title: Regular Trustee By: ------------------------------ Name: Xxxxxx X. Xxxx Title: Regular Trustee By: ------------------------------ Name: Xxxxxxxx X. Xxxxx Title: Regular Trustee CONFIRMED AND ACCEPTED, as of the date first above written: XXXXXXX XXXXX & CO. Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated XXXX XXXXXX XXXXXXXX INC. XXXXXXXXX, XXXXXX & XXXXXXXX SECURITIES CORPORATION PAINEWEBBER INCORPORATED PRUDENTIAL SECURITIES INCORPORATED SANDS BROTHERS & CO., LTD. By: XXXXXXX XXXXX, XXXXXX, XXXXXX & XXXXX INCORPORATED By:_________________________ Authorized Signatory: For themselves and as the Representatives of the several Underwriters named in the Underwriting Agreement.
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Examples of Trust Originated Preferred Securities in a sentence

  • In December 1996, UAL Corporation Capital Trust I (the "Trust") issued $75 million of its 13 1/4% Trust Originated Preferred Securities (the "Preferred Securities") in exchange for 2,999,304 depositary shares, each representing 1/1000 of one share of Series B 12 1/4% preferred stock (see Note 14 "Serial Preferred Stock").

  • In 1998 and 1999, we had 8-1/2% Convertible Trust Originated Preferred Securities, or TOPrS, outstanding.

  • These trusts exist for the sole purpose of issuing Trust Originated Preferred Securities (TOPrs) and investing the proceeds in an equivalent amount of Junior Subordinated Deferrable Interest Debentures of KCPL.

  • Subsidiary Trust In December 1996, UAL Corporation Capital Trust I (the "Trust") issued $75 million of its 13 1/4% Trust Originated Preferred Securities (the "Preferred Securities") in exchange for 2,999,304 depositary shares, each representing 1/1000 of one share of Series B 12 1/4% preferred stock (see Note 12 "Serial Preferred Stock").

  • In December 1996, UAL Corporation Capital Trust I (the "Trust") issued $75 million of its 13 1/4% Trust Originated Preferred Securities (the "Preferred Securities") in exchange for 2,999,304 depositary shares, each representing 1/1000 of one share of Series B 12 1/4% preferred stock (see Note 15, "Serial Preferred Stock").

  • Trust Originated Preferred Securities (Title of the indenture securities) 1.

  • In January 1999, Oxy Capital Trust I, a wholly-owned subsidiary of Occidental, issued 21,000,000 shares of 8.16 percent Trust Originated Preferred Securities (Preferred Securities) to the public and 649,485 shares of Trust Originated Common Securities (Common Securities) to Occidental.

  • In December 1996, UAL Corporation Capital Trust I (the "Trust") issued $75 million of its 13 1/4% Trust Originated Preferred Securities (the "Preferred Securities") in exchange for 2,999,304 depositary shares of the Company, each representing 1/1000 of one share of Series B 12 1/4% preferred stock (see Note 11).

  • The 13.25% Trust Originated Preferred Securities issued by UAL Corporation Capital Trust I.

  • The family trust also holds 1,500 shares of Trust Originated Preferred Securities issued by the Company's financing subsidiary, Southwest Gas Capital I.


More Definitions of Trust Originated Preferred Securities

Trust Originated Preferred Securities and "TOPrS" are service marks of Merrxxx Xxxcx & Xo. Inc. 45 CONFIRMED AND ACCEPTED, as of the date first above written: MERRXXX XXXCX & XO. MERRXXX XXXCH, PIERCE, FENNXX & XMITX INCORPORATED DEAN XXXXXX XXXXXXXX XXX. FURMXX XXXX XXX PAINEWEBBER INCORPORATED PRUDENTIAL SECURITIES INCORPORATED LEHMXX XXXTHERS By: MERRXXX XXXCH, PIERCE, FENNXX & XMITX INCORPORATED By: _____________________________________ Authorized Signatory For themselves and as the Representatives of the several Underwriters named in Schedule A to the Underwriting Agreement.
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Trust Originated Preferred Securities and "TOPrS" are service marks of Merrxxx Xxxcx & Xo., Inc. depositary shares, each representing one-fourth of a share of the Company's Series D 7.92% Preference Stock, par value $0.10 per share (the "Series D Target Securities"). In addition, General Motors Capital Trust G (the "Series G Trust", a statutory business trust organized under the Delaware Act, pursuant to the Amended and Restated Declaration of Trust, to be dated as of the Exchange Date (as defined herein) (the "Series G Declaration"), among the Company, as sponsor, Wilmington Trust Company, as institutional trustee (the "Series G Institutional Trustee"), Wilmington Trust Company, as Delaware trustee (the "Series G Delaware Trustee"), and the other trustees specified therein, as regular trustees (the "Series G Regular Trustees" and, together with the Series G Institutional Trustee and the Series G Delaware Trustee, the "Series G Trustees"), and the holders from time to time of undivided beneficial ownership interests in the assets of the Series G Trust, proposes to issue its % Trust Originated Preferred Securities (" % TOPrS(SM)")(the "Series G Preferred Securities"), in exchange for up to 9,071,910 depositary shares, each representing one-fourth of a share of the Company's Series G 9.12% Preference Stock, par value $0.10 per share (the "Series G Target Securities"). As used in this agreement, the Series D Trust and the Series G Trust are referred to collectively as the "Trusts", the Series D Declaration and the Series G Declaration are referred to collectively as the "Declarations", the Series D Institutional Trustee and the Series G Institutional Trustee are referred to collectively as the "Institutional Trustees", the Series D Delaware Trustee and the Series G Delaware Trustee are referred to collectively as the "Delaware Trustees", the Series D Regular Trustees and the Series G Regular Trustees are referred to collectively as the "Regular Trustees", the Institutional Trustees, Delaware Trustees and Regular Trustees are referred to collectively as the "Trustees", the Series D Preferred Securities and the Series G Preferred Securities are referred to collectively as the "Preferred Securities", and the Series D Target Securities and the Series G Target Securities are referred to collec- tively as the "Target Securities." The Preferred Securities will be guaranteed (the "Guarantees") by the Company to the extent described in the Prospectus (as hereinafter defined). The exchange offers described...
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Trust Originated Preferred Securities and "TOPrS" are service marks of Mexxxxx Xyxxx & Co., Inc. ("TOPrS (SM)") (Liquidation Amount of $25 per Preferred Security) UNDERWRITING AGREEMENT --------------- November 27, 1996 MEXXXXX XYXXX & CO. Mexxxxx Xynch, Pierce, Fexxxx & Smxxx Incorporated, Dexx Xxxxxx Xxxxxxxx Xnc., A.X. Xxxxxxx & Sons, Inc., PaineWebber Incorporated, Prudential Securities Incorporated, Smxxx Xxxxxx Xnc., as Representatives of the several Underwriters c/o Xxxxxxx Xyxxx & Co. Mexxxxx Xynch, Pierce, Fexxxx & Smxxx Incorporated Mexxxxx Xyxxx Xorld Headquarters North Tower World Financial Center New York, New York 10281 Dear Sirs:
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Trust Originated Preferred Securities is a service xxxx of Xxxxxxx Xxxxx & Co. Table of Contents PURCHASE AGREEMENT.............................................................1
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Related to Trust Originated Preferred Securities

  • Trust Preferred Securities any preferred securities issued by a Trust Preferred Securities Subsidiary, where such preferred securities have the following characteristics:

  • Hybrid Preferred Securities means any preferred securities issued by a Hybrid Preferred Securities Subsidiary, where such preferred securities have the following characteristics:

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

  • Equity Preferred Securities means, with respect to any Person, any trust preferred securities or deferrable interest subordinated debt securities issued by such Person or other financing vehicle of such Person that (i) have an original maturity of at least twenty years, and (ii) require no repayments or prepayments and no mandatory redemptions or repurchases, in each case, prior to the first anniversary of the latest Maturity Date.

  • Hybrid Preferred Securities Subsidiary means any Delaware business trust (or similar entity) (i) all of the common equity interest of which is owned (either directly or indirectly through one or more wholly-owned Subsidiaries of the Company) at all times by the Company or a wholly-owned direct or indirect Subsidiary of the Company, (ii) that has been formed for the purpose of issuing Hybrid Preferred Securities and (iii) substantially all of the assets of which consist at all times solely of Junior Subordinated Debt issued by the Company or a wholly-owned direct or indirect Subsidiary of the Company (as the case may be) and payments made from time to time on such Junior Subordinated Debt.

  • Capital 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 and continuance of an Event of Default (as defined in the Declaration), the rights of holders of such Common Securities to payment in respect of distributions and payments upon liquidation, redemption and otherwise are subordinated to the rights of holders of such Capital Securities.

  • Non Book-Entry Preferred Securities shall have the meaning set forth in Section 2.4.

  • NIM Securities Any debt securities secured or otherwise backed by some or all of the Class X and Class P Certificates that are rated by one or more Rating Agencies.

  • Series or “Series of Securities” means each series of debentures, notes or other debt instruments of the Company created pursuant to Sections 2.1 and 2.2 hereof.

  • Covered Securities means any note, stock, treasury stock, security future, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security (including a certificate of deposit) or on any group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a "security", or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase any of the foregoing.

  • Subordinated Securities means Securities that by the terms established pursuant to Section 2.02(i) are subordinated in right of payment to Senior Debt of the Company.

  • Trust Securities means the Common Securities and the Capital Securities.

  • Preferred Security means an undivided beneficial interest in the assets of the Trust, having a Liquidation Amount of $1,000 and having the rights provided therefor in this Trust Agreement.

  • Book-Entry Preferred Securities Certificates means a beneficial interest in the Preferred Securities Certificates, ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 5.11.

  • Purchaser Securities means the Purchaser Units, the Purchaser Common Stock, the Purchaser Preferred Stock and the Purchaser Warrants, collectively.

  • Asset-Backed Securities means securities which:

  • Definitive Preferred Securities Certificates means Preferred Securities issued in certificated, fully registered form that are not Global Preferred Securities.

  • Series A Debentures means the 8.675% Series A Junior Subordinated Deferrable Interest Debentures due February 1, 2027 of the Debenture Issuer issued pursuant to the Indenture.

  • Securities has the meaning stated in the first recital of this Indenture and more particularly means any Securities authenticated and delivered under this Indenture.

  • Pledged Debt Securities has the meaning assigned to such term in Section 3.01.

  • Preferred Security Certificate means a certificate representing a Preferred Security substantially in the form of Exhibit A-1.

  • Preferred Securities Certificate means a certificate evidencing ownership of Preferred Securities, substantially in the form attached as Exhibit C.

  • Debentures has the meaning stated in the first recital of this Indenture.

  • Individual Securities shall have the meaning specified in Section 3.01(p).

  • Series A Junior Securities means any class or series of Partnership Interests that, with respect to distributions on such Partnership Interests and distributions upon liquidation of the Partnership, ranks junior to the Series A Preferred Units, including Common Units and Non-Voting Common Units, but excluding any Series A Parity Securities and Series A Senior Securities.

  • Designated Preferred Stock means Preferred Stock of the Issuer or any direct or indirect parent of the Issuer (other than Disqualified Stock), that is issued for cash (other than to the Issuer or any of its Subsidiaries or an employee stock ownership plan or trust established by the Issuer or any of its Subsidiaries) and is so designated as Designated Preferred Stock, pursuant to an Officer’s Certificate, on the issuance date thereof.