Common use of Redemption and Distribution Clause in Contracts

Redemption and Distribution. (a) The Debentures will mature on December 18, 2031. The Debentures may be redeemed by the Debenture Issuer, in whole or in part at any time and from time to time on or after December 18, 2006, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 4 contracts

Sources: Declaration of Trust (United National Bancorp), Declaration of Trust (Eurobancshares Inc), Declaration of Trust (Center Bancorp Inc)

Redemption and Distribution. (a) The Debentures will mature on December 18September 26, 20312032. The Debentures may be redeemed by the Debenture Issuer, in whole or in part at any time and from time to time on or after December 18September 26, 20062007, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 3 contracts

Sources: Declaration of Trust (Coast Bancorp/Ca), Declaration of Trust (Bankatlantic Bancorp Inc), Declaration of Trust (Uwharrie Capital Corp)

Redemption and Distribution. (a) The Debentures will mature on December 18June 26, 20312032. The Debentures may be redeemed by the Debenture Issuer, in whole or in part at any time and from time to time on or after December 18June 26, 20062007, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 2 contracts

Sources: Declaration of Trust (First Community Bancorp /Ca/), Declaration of Trust (Ecb Bancorp Inc)

Redemption and Distribution. (a) The Debentures will mature on December 1815, 20312037. The Debentures may be redeemed by the Debenture Issuer, in whole or in part part, at any time and from time to time Distribution Payment Date on or after the Distribution Payment Date in December 18, 20062012, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 2 contracts

Sources: Declaration of Trust (First Banks, Inc), Declaration of Trust (First Banks, Inc)

Redemption and Distribution. (a) The Debentures will mature on December 18July 31, 2031. The Debentures may be redeemed by the Debenture Issuer, in whole or in part at any time and from time to time on or after December 18July 31, 2006, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 2 contracts

Sources: Declaration of Trust (State National Bancshares, Inc.), Declaration of Trust (Prosperity Bancshares Inc)

Redemption and Distribution. (a) The Debentures will mature on December 18June 15, 20312036. The Debentures may be redeemed by the Debenture Issuer, in whole or in part part, at any time and from time to time Distribution Payment Date on or after December 18, 2006the Distribution Payment Date in June 2011, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 2 contracts

Sources: Declaration of Trust (Four Oaks Fincorp Inc), Declaration of Trust (First Banks, Inc)

Redemption and Distribution. (a) The Debentures will mature on December 1815, 20312036. The Debentures may be redeemed by the Debenture Issuer, in whole or in part part, at any time and from time to time Distribution Payment Date on or after the Distribution Payment Date in December 18, 20062011, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 1 contract

Sources: Declaration of Trust (First Banks, Inc)

Redemption and Distribution. (a) The Debentures will mature on December 18March 26, 20312033. The Debentures may be redeemed by the Debenture Issuer, in whole or in part part, at any time and from time to time Distribution Payment Date on or after December 18March 26, 20062008, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 1 contract

Sources: Declaration of Trust (Community Capital Bancshares Inc)

Redemption and Distribution. (a) The Debentures will mature on December 1826, 20312032. The Debentures may be redeemed by the Debenture Issuer, in whole or in part part, at any time and from time to time Distribution Payment Date on or after December 1826, 20062007, at the Redemption Price. In addition, the Debentures may be redeemed by the Debenture Issuer at the Special Redemption Price, in whole but not in part, at any Distribution Payment Date, upon the occurrence and continuation of a Special Event within 120 days following the occurrence of such Special Event at the Special Redemption Price, upon not less than 30 nor more than 60 days' notice to holders of such Debentures so long as such Special Event is continuing. In each case, the right of the Debenture Issuer to redeem the Debentures is subject to the Debenture Issuer having received prior approval from the Federal Reserve (if the Debenture Issuer is a bank holding company) or prior approval from the OTS (if the Debenture Issuer is a savings and loan holding company), in each case if then required under applicable capital guidelines or policies of the applicable federal agency.

Appears in 1 contract

Sources: Declaration of Trust (Eurobancshares Inc)