Monday, November 20, 2017 2:32:00 PM
https://www.sec.gov/Archives/edgar/data/806085/000080608506000039/f06-02_248k.htm
If a Trigger Event occurs and is continuing, then, provided that any relevant regulatory authority has not objected, the general partner of the Issuer shall take all reasonable steps to cause the substitution of the Preferred Securities for depositary shares representing preferred stock of the Company. A “Trigger Event” will occur (i) if the Company is placed into bankruptcy, reorganization, conservatorship or receivership, (ii) if following any time when the Company becomes subject to regulation relating to capital adequacy of financial institutions, the Company has capital adequacy levels that are less than the minimum capital adequacy levels imposed by the relevant regulatory authority or (iii) if, following any time when the Company becomes subject to such regulation, the relevant regulatory authority, in its sole discretion, informs the Company that it will not meet its minimum capital requirement in the near term.
The preferred stock of the Company that would be issued in substitution for the Preferred Securities upon a Trigger Event would be fully-paid non-cumulative preferred stock bearing a right to dividends calculated in the same manner as the Preferred Securities, having no voting rights (except as required by law) and being subject to optional redemption in the same manner as the Preferred Securities.
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