Examples of Subordinated Notes in a sentence
There is hereby authorized to be issued under the Original Indenture a separate series of Securities designated as “7.250% Subordinated Notes due May 31, 2084”.
On any Business Day on or after the Rated Notes have been redeemed or paid in full, the Subordinated Notes (in whole or in part) will be redeemed at their Redemption Price at the written direction of a Majority of the Subordinated Notes, or at the direction of the Asset Manager, to the Issuer (with a copy to the Trustee and the Asset Manager, as applicable).
Subordinated Notes will receive distributions of Interest Proceeds on each Payment Date in accordance with the Priority of Interest Payments, which amounts, if available to be paid on such Payment Date, will be due and payable on such Payment Date.
Any payment of Interest Proceeds to the Subordinated Notes that is not available to be paid on a Payment Date in accordance with the Priority of Payments shall not be payable on such Payment Date or any date and shall not be considered "due and payable" for purposes of Section 5.1(a) (and the failure to pay such interest shall not be an Event of Default).
The Issuer shall duly and punctually pay the principal of and interest on the Rated Notes and make distributions on the Subordinated Notes in accordance with the terms of the Notes and this Indenture.