"from (and including) the immediately preceding Distribution Payment Date" = 25th April, 2008
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Liquidation Distribution means the Liquidation Preference plus (a) any due and accrued but unpaid Distributions calculated from (and including) the immediately preceding Distribution Payment Date (or, if none, the Closing Date) to (but excluding) the date of payment, and (b) any Additional Amounts, in each case in cash only;
Liquidation Preference means the liquidation preference of €1,000 per Preferred Security;
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When does the UK Preferred Securities reach ten years of deferred dividends? April 25, 2018 What a Prescription for claims: English law
"LEHMAN BROTHERS UK CAPITAL FUNDING IV LP (a limited partnership organised under the laws of England and Wales) Euro Fixed Rate Enhanced Capital Advantaged Preferred Securities (Euro ECAPSSM) having the benefit of a subordinated guarantee of LEHMAN BROTHERS HOLDINGS INC. (incorporated with limited liability in the State of Delaware)
The Euro Fixed Rate Enhanced Capital Advantaged Preferred Securities (the Euro ECAPSSM or the Preferred Securities), each with a liquidation preference of ¤1,000, will comprise limited partnership interests in Lehman Brothers UK Capital Funding IV LP (the Issuer). . . .
13. Prescription
Claims against the Issuer for payment of Distributions and sums in respect of the Optional Redemption Price or Liquidation Distribution of the Preferred Securities will be prescribed in accordance with English law unless made within ten years from the date on which such payment becomes due or, if later, the date on which the Issuer makes such payment available to Holders.
14. Governing Law and Jurisdiction
14.1 The Limited Partnership Agreement and the Preferred Securities shall be governed by, and construed in accordance with, English law.
14.2 The Guarantor agrees for the benefit of the Holders that the courts of England shall have jurisdiction to hear and determine any suit, action or proceedings, and to settle any disputes, which may arise out of or in connection with the Preferred Securities (respectively Proceedings and Disputes) and, for such purposes, irrevocably submits to the jurisdiction of such courts."