Trust Preferred Securities

Trust Preferred Securities. Means the 9.40% Cumulative Trust Preferred Securities issued to the several holders thereof pursuant to the Trust Agreement.

Trust Preferred Securities. With respect to the Borrower, (a) mandatorily redeemable capital trust securities of trusts which are Consolidated Subsidiaries and the subordinated debentures of the Borrower in which the proceeds of the issuance of such capital trust securities are invested, including, without limitation, $283,600,000 of such securities outstanding as of the Acquisition Effective Date, and (b) mandatorily redeemable capital securities which are subordinated debentures of the Consolidated Subsidiary in which... the proceeds of the issuance of such capital securities are invested, including, without limitation, Cdn. $125,000,000 of such securities outstanding as of the Acquisition Effective Date. View More

Trust Preferred Securities. Shall mean instruments that entitle the holders thereof to receive payments that depend (except for rights or other assets designed to assure the servicing or timely distribution of proceeds to holders thereof) on the cash flow from the pool of trust securities issued by a wholly-owned subsidiary of a U.S. financial institution or an insurance holding company which uses the proceeds of such issuance to purchase a portfolio of debt securities issued by its parent. They generally have the... following characteristics: (i) the trust securities are non-amortizing preferred stock securities; (ii) the trust securities have a 30-year maturity with a 5- or 10-year non-call period; and (iii) the trust securities are subordinated debt. View More

Trust Preferred Securities. Shall mean securities representing the preferred beneficial interests in the assets of a trust, whose only assets are the junior subordinated notes issued by the holder of the common securities of the trust.