Trust Preferred Securities Issuer definition

Trust Preferred Securities Issuer means a special purpose entity of which Parent or any of Borrowers and the Wholly Owned Subsidiaries of one or more of Borrowers owns 100% of the common interests, which special purpose entity is established for the purpose of issuing such trust preferred securities and using the proceeds of such issuance to make loans to Parent or a Borrower or a Wholly Owned Subsidiary of one or more of Borrowers.
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Trust Preferred Securities Issuer has the meaning specified in the definition of “Trust Preferred Securities.”
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Examples of Trust Preferred Securities Issuer in a sentence

  • Each Collateral Debt Security is an obligation exclusively of the related Underlying Obligor (or, in the case of a Trust Preferred Security, the Trust Preferred Securities Issuer, as described in section 3.9 (Nature of Trust Preferred Securities) below).

  • The Company continues to be in discussion with them to agree to a payment plan.

  • If an Affiliated Institution defaults on its obligation to pay principal of or interest or any other amounts on, Corresponding Debentures, the applicable Trust Preferred Securities Issuer will not have sufficient funds to pay distributions or other amounts payable upon the redemption of the Trust Preferred Securities or upon liquidation of the Trust Preferred Securities Issuer.

  • The only source of cash for each Trust Preferred Securities Issuer to make payments on its Trust Preferred Securities will be payments it receives from its parent Affiliated Institution on the Corresponding Debentures.

  • In certain circumstances, and subject to the terms of the relevant declaration of trust or trust agreement, the Trust Preferred Securities Issuer may distribute the Corresponding Debentures to the holders of the Trust Preferred Securities and the common equity holders of the Trust Preferred Securities Issuer.

  • Additionally, Holdings may after the Closing Date (i) own Capital Stock of any Trust Preferred Securities Issuer, (ii) acquire title to Property which is contributed to the Partnership in a substantially simultaneous transaction, and (iii) own cash received in connection with dividends made by its Subsidiaries in accordance with Section 7.6 and cash proceeds from the sale of its Capital Stock.

  • Furthermore, a holder of a Trust Preferred Security will not be able to rely upon the guarantee provided by the Affiliate Institution for payment of these amounts, except to the extentthat such Affiliated Institution has paid the Corresponding Debentures to the Trust Preferred Securities Issuer and such Trust Preferred Securities Issuer has not paid the amounts due on the corresponding Trust Preferred Securities.

  • Furthermore, a holder of a Trust Preferred Security will not be able to rely upon the guarantee provided by the Affiliate Institution for payment of these amounts, except to the extent that such Affiliated Institution has paid the Corresponding Debentures to the Trust Preferred Securities Issuer and such Trust Preferred Securities Issuer has not paid the amounts due on the corresponding Trust Preferred Securities.

Related to Trust Preferred Securities Issuer

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

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

  • 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.

  • 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.

  • Capital Securities Guarantee Trustee means The Bank of New York, a New York banking corporation, until a Successor Capital Securities Guarantee Trustee has been appointed and has accepted such appointment pursuant to the terms of this Series B Capital Securities Guarantee and thereafter means each such Successor Capital Securities Guarantee Trustee.

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

  • 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.

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

  • Preferred Securities Guarantee means any guarantee that the Company may enter into with the Trustee or other Persons that operates directly or indirectly for the benefit of holders of Preferred Securities.

  • Common Securities means the securities representing common undivided beneficial interests in the assets of the Issuer.

  • Underlying Securities Issuer With respect to an Underlying Security, the issuer thereof (including, if applicable, the guarantor of the Underlying Security), as identified in the Underlying Securities Schedule.

  • Preferred Security means a preferred security of the Trust, denominated as such and representing an undivided beneficial interest in the assets of the Trust, having a Liquidation Amount of $1,000 and having the terms provided therefor in this Trust Agreement.

  • Successor Capital Securities Guarantee Trustee means a successor Capital Securities Guarantee Trustee possessing the qualifications to act as Capital Securities Guarantee Trustee under Section 4.1.

  • 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.

  • UST Preferred Stock means the Issuer’s Fixed Rate Cumulative Perpetual Preferred Stock, Series [●].

  • Capital Securities Guarantee means the guarantee agreement that the Company enters into with Wilmington Trust Company, as guarantee trustee, or other Persons that operates directly or indirectly for the benefit of holders of Capital Securities of the Trust.

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

  • Book-Entry Preferred Security means a Preferred Security, the ownership and transfers of which shall be made through book entries by a Depositary.

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

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

  • Preferred Security Beneficial Owner means, with respect to a Book Entry Interest, a Person who is the beneficial owner of such Book Entry Interest, as reflected on the books of the Clearing Agency, or on the books of a Person maintaining an account with such Clearing Agency (directly as a Clearing Agency Participant or as an indirect participant, in each case in accordance with the rules of such Clearing Agency).

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

  • Series D Notes is defined in Section 1.

  • Successor Preferred Guarantee Trustee means a successor Preferred Guarantee Trustee possessing the qualifications to act as Preferred Guarantee Trustee under Section 4.1.

  • Series A Debentures means the Series A 9-7/8% Junior Subordinated Deferrable Interest Debentures due February 15, 2027 of the Debenture Issuer issued pursuant to the Indenture.