Trust Preferred Securities any preferred securities issued by a Trust Preferred Securities Subsidiary, where such preferred securities have the following characteristics:
Trust Preferred Securities means preferred securities of a Trust, representing undivided beneficial interests in the assets of such Trust with a preference under certain circumstances with respect to cash distributions and amounts payable on liquidation, redemption or otherwise.
Trust Preferred Securities has the meaning specified in the first recital of this Indenture.
Examples of Trust Preferred Securities in a sentence
The Trust will be required to redeem the Trust Preferred Securities if DBAG elects to require redemption of the subordinated note receivable held by the Trust.
If DBAG redeems the subordinated note receivable, the Trust must redeem the Trust Preferred Securities under the redemption terms as stated in the Agreement.
This Trust Preferred Securities Guarantee creates a guarantee of payment and not of collection.
This Guarantee Agreement is solely for the benefit of the Holders and is not separately transferable from the Trust Preferred Securities.
The Trust Preferred Securities will represent valid and, subject to the qualifications set forth in paragraph 3 below, fully paid and nonassessable undivided beneficial interests in the assets of the Trust.
More Definitions of Trust Preferred Securities
Trust Preferred Securities has the meaning specified in the recitals to this Guarantee Agreement.
Trust Preferred Securities means the trust preferred securities issued by one of the five subsidiary capital trusts established by any of the Borrowers outstanding on the date hereof and reflected as such in the financial statements of Dominion Resources for the fiscal year ended December 31, 2001, and any additional trust preferred securities that are substantially similar thereto, along with the junior subordinated debt obligations of the Borrowers, so long as (a) the terms thereof require no repayments or prepayments and no mandatory redemptions or repurchases, in each case prior to at least 91 days after the later of the termination of the Commitments and the repayment in full of the Loans and all other amounts due under the Credit Agreement, (b) such securities are subordinated and junior in right of payment to all obligations of the Borrowers for or in respect of borrowed money and (c) the obligors in respect of such preferred securities and subordinated debt have the right to defer interest and dividend payments, in each case to substantially the same extent as such currently outstanding preferred securities or on similar terms customary for trust preferred securities and not materially less favorable to the interests of the Borrowers or the Lenders.
Trust Preferred Securities means any securities, however denominated, (i) issued by any Borrower or any Consolidated Subsidiary of any Borrower, (ii) that are not subject to mandatory redemption or the underlying securities, if any, of which are not subject to mandatory redemption, (iii) that are perpetual or mature no less than 30 years from the date of issuance, (iv) the indebtedness issued in connection with which, including any guaranty, is subordinate in right of payment to the unsecured and unsubordinated indebtedness of the issuer of such indebtedness or guaranty, and (v) the terms of which permit the deferral of the payment of interest or distributions thereon to a date occurring after the latest Termination Date.
Trust Preferred Securities means the -% Noncumulative Trust Preferred Securities, aggregate liquidation amount $-, offered by the Trust, representing a corresponding amount of the Company Preferred Securities.
Trust Preferred Securities has the meaning specified in the Recitals.
Trust Preferred Securities means -% Noncumulative Trust Preferred Securities issued by the Trust.
Trust Preferred Securities has the meaning specified in the Recitals hereto.