Preferred Securities definition
Preferred Securities has the meaning specified in the first recital of this Indenture.
Preferred 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 of an Event of Default, the rights of holders of Common Securities to payment in respect of distributions and payments upon liquidation, redemption and otherwise are subordinated to the rights of holders of Preferred Securities.
Preferred Securities means, with respect to any Person, Equity Interests in such Person, which are entitled to preference or priority over any other Equity Interest in such Person in respect of the payment of dividends or distribution of assets upon liquidation, or both.
Examples of Preferred Securities in a sentence
The Investor’s right to receive its Conversion Amount is (A) on par with payments for Common Securities and other Safes and/or Preferred Securities who are also receiving Conversion Amounts or Proceeds on a similar as-converted to Common Securities basis, and (B) junior to payments described in clauses (i) and (ii) above (in the latter case, to the extent such payments are Cash-Out Amounts or similar liquidation preferences).
If there is an Equity Financing before the termination of this Safe, on the initial closing of such Equity Financing, this Safe will automatically convert into that number of securities of Safe Preferred Securities equal to the Purchase Amount divided by the Conversion Price.
More Definitions of Preferred Securities
Preferred Securities has the meaning set forth in the Recitals.
Preferred Securities has the meaning specified in the recitals to this Guarantee Agreement.
Preferred Securities has the meaning specified in Section 7.1(a).
Preferred Securities has the meaning set forth in the first WHEREAS clause above.
Preferred Securities has the meaning specified in Section 7.01(b).
Preferred Securities means the preferred limited liability company membership units of the Company or preferred stock of the Company, if the Company is restructured as a corporation, including the securities issuable upon the conversion of this instrument pursuant to Sections 1(b)(i) or 1(d).
Preferred Securities means the ____% Trust Originated Preferred Securities of the Trust, each having a stated liquidation amount of $50, representing preferred undivided beneficial interests in the assets of the Trust.