Non-Cumulative definition

Non-Cumulative means, with respect to any Qualifying Capital Securities, that the issuer may elect not to make any number of periodic Distributions without any remedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more Permitted Remedies.

Non-Cumulative means, with respect to any securities, that the issuer thereof may elect not to make any number of periodic Distributions without any remedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more Permitted Remedies. Securities that include an Alternative Payment Mechanism shall also be deemed to be Non-Cumulative for all purposes of this Replacement Capital Covenant.

Non-Cumulative means, with respect to any securities, that the issuer thereof may elect not to make any number of periodic Distributions without any remedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more Permitted Remedies.

Examples of Non-Cumulative in a sentence

• There is hereby created out of the authorized and unissued shares of preferred stock of the Issuer a series of preferred stock designated as the “Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series [●]” (the “Designated Preferred Stock”).

• With respect to the outstanding issues of Perpetual Non-Cumulative Contingent Convertible Additional Tier 1 Preferred Securities of Bankia (issued on 19 September 2018 for the sum of €500,000,000 under ISIN code XS1880365975 and on 18 July 2017 for the sum of €750,000,000 under ISIN code XS1645651909), following the merger, CaixaBank will assume the position of Bankia and succeed it as the issuing entity of these securities in accordance with their terms and conditions.

• Delaware Series B Contingent Convertible Junior Participating Non-Cumulative Perpetual Preferred Stock ALICO Holdings LLC 100% 100% 6,857,000 MetLife, Inc.

• Longevity payments shall be added to each employee’s base salary according to the following schedule: Years of Service Stipend (Non-Cumulative) 10 two and one-half percent (2.5%) of base 15 three percent (3%) of base Franklin Educational Support Personnel Association Contract - 2009-2012 Page 5 20 three percent (3%) of base 25 three percent (3%) of base 30 three and one-half percent (3.5%) of base Years mean consecutive years of service to the District.

• The Company’s authorized and outstanding capital stock is as follows: Title of Class Shares Authorized Shares Outstanding Common Stock, no par value 250,000 131,746 Non-Redeemable, Non-Cumulative Preferred Stock, $100 par value, 6.00% Series 2,250 2,250 All of the Company’s outstanding capital stock is validly issued, fully paid and non- assessable.

More Definitions of Non-Cumulative

Non-Cumulative means, as to any security, that the terms of such security provide for Distributions that are non-cumulative and may be skipped by the issuer for any number of Distribution Periods without any remedy arising by the terms of such securities or related transaction agreements in favor of the holders of such securities as a result of the issuer’s failure to pay Distributions, other than Permitted Remedies.

Non-Cumulative means with respect to any securities that the issuer thereof may elect not to make any number of periodic Distributions without any remedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more Permitted Remedies. Securities that include provisions requiring the Corporation to issue Non-Cumulative perpetual preferred stock, Common Stock and/or other equity securities and apply the proceeds to pay unpaid Distributions on terms substantially similar to the terms of the alternative payment mechanism described in Section 2.1(h) of the Fifth Supplemental Indenture shall also be deemed to be “Non-Cumulative” securities for all purposes of this Replacement Capital Covenant other than the definition of “Qualifying Non-Cumulative Preferred Stock”.

Non-Cumulative means, with respect to any securities, that the issuer may elect not to make any number of periodic Distributions without any remedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more Permitted Remedies. Securities that include an Alternative Payment Mechanism shall also be deemed to be Non-Cumulative for all purposes of this Replacement Capital Covenant, other than the definitions of APM Qualifying Securities and Qualifying Non-Cumulative Preferred Stock, and debt securities that include an Alternative Payment Mechanism shall be deemed to be Non-Cumulative for purposes of the definition of Debt Exchangeable for Equity (it being understood that such Alternative Payment Mechanism for purposes of the definition of “Debt Exchangeable for Equity” need not include a Common Cap, a Preferred Cap, a Share Repurchase Provision or a Bankruptcy Claim Limitation Provision).

Non-Cumulative means, with respect to any securities, that the issuer may elect not to make any number of periodic Distributions without anyremedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more Permitted Remedies. Securities that includean Alternative Payment Mechanism shall also be deemed to be Non-Cumulative, other than for

Non-Cumulative means, with respect to any securities, that the issuer thereof may elect not to make any number of periodic distributions without any remedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more permitted remedies. Securities that include an alternative payment mechanism shall also be deemed to be non-cumulative for all purposes of the Replacement Capital Covenant, other than the definitions of APM qualifying securities and qualifying non-cumulative perpetual preferred stock.

Non-Cumulative means, with respect to any securities, that the issuer thereof may elect not to make any number of periodic Distributions without any remedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more Permitted Remedies. Securities that include (i) an Alternative Payment Mechanism and an Optional Deferral and Forgiveness Provision or (ii) a Mandatory Trigger Provision shall also be deemed to be "Non-Cumulative" securities for all purposes of this Replacement Capital Covenant other than the definition of "Qualifying Non-Cumulative Preferred Stock".

Non-Cumulative means, with respect to any securities, that the issuer may elect not to make any number of periodic Distributions or interest payments without any remedy arising under the terms of the securities or related agreements in favor of the holders, other than one or more Permitted Remedies. Securities that include either (i) provisions requiring the Corporation to issue Non-Cumulative perpetual preferred stock and Common Stock or rights to purchase Common Stock and apply the proceeds to pay unpaid Distributions on terms substantially similar to the terms of the alternative payment mechanism described in Section 2.1(j) of the Supplemental Indenture or (ii) a Mandatory Trigger Provision shall also be deemed to be “Non-Cumulative” for all purposes of this Replacement Capital Covenant other than the definition of “Qualifying Non-Cumulative Preferred Stock”.