Trust PIERS definition

Trust PIERS means the $345 million aggregate principal amount 4.00% Trust PIERS due 2033 issued by Omnicare Capital Trust I on June 13, 2003 and the Series B 4.00% Trust PIERS due 2033 issued by Omincare Capital Trust II on March 8, 2005.

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Trust PIERS means the 4.00% Junior Subordinated Debentures due 2033 of the Borrower issued pursuant to the Trust PIERS Supplemental Indenture.

Trust PIERS means an undivided beneficial ownership interest in the assets of the Trust having a Liquidation Amount of $50 and having rights provided therefor in this Trust Agreement, including the right to receive Distributions, including Contingent Distributions, and a Liquidation Distribution as provided herein.

Examples of Trust PIERS in a sentence

• The Obligations under this Agreement will at all times constitute “Senior Indebtedness” as defined in and for purposes of the Trust PIERS Supplemental Indenture and the New Trust PIERS Supplemental Indenture.

• The Guarantor acknowledges that its obligations hereunder are independent of the obligations of the Trust with respect to the Trust PIERS, and that the Guarantor shall be liable as principal and as debtor hereunder to make Guarantee Payments pursuant to the terms of this Guarantee notwithstanding the occurrence of any event referred to in subsections 5.3(a) through 5.3(g), inclusive, hereof.

• The Administrative Trustees shall maintain in the Borough of Manhattan, New York, an office or offices or agency or agencies where Trust PIERS Certificates may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Trustees in respect of the Trust Securities Certificates may be served.

• The Administrative Trustee will give notice of the Company’s election of the extension period to the holders of the Trust PIERS.

• Each Trust PIERS Certificate shall be dated the date of its authentication.

• The signature shall be conclusive evidence that the Trust PIERS Certificate has been authenticated under this Trust Agreement.

• The Property Trustee shall promptly notify the Securities Registrar in writing of the Trust PIERS selected for redemption and, in the case of any Trust PIERS selected for partial redemption, the Liquidation Amount thereof to be redeemed.

• The Trust PIERS shall be redeemable as provided in the Trust Agreement.

• The Property Trustee shall notify all Holders of the Trust PIERS of any notice of an Event of Default received from the Indenture Trustee or the Company with respect to the Convertible Debentures.

• A Holder may surrender for conversion a Trust PIERS that has been called for redemption at any time prior to 5:00 p.m., New York, New York time, on the day that is two Business Days immediately preceding the date of redemption, even if such Trust PIERS is not otherwise convertible at that time.

More Definitions of Trust PIERS

Trust PIERS means the Trust Preferred Income Equity Redeemable Securities issued by the Trust.

Trust PIERS has the meaning specified in the recitals hereto.

Trust PIERS has the meaning specified in the recitals hereto. In the event that pursuant to the Underwriting Agreement, dated as of June 10, 2003, among the Trust, the Guarantor and the underwriters party thereto, the Trust and the Guarantor grant an Underwriters’ Overallotment Option (as defined in the Trust Agreement) to certain underwriters such that an additional amount of Trust PIERS may be issued pursuant to the terms of the Trust Agreement, then the defined term “Trust PIERS” shall include such additional Trust PIERS.

Trust PIERS has the meaning given to it in the Trust Agreement.

Trust PIERS has the meaning set forth in the Recitals.

Trust PIERS means the $300.0 million aggregate principal amount 4.00% Trust PIERS due 2033 issued by Omnicare Capital Trust I on the Issue Date, plus up to $45.0 million aggregate principal amount issued upon exercise of the underwriters’ over-allotment option.