Admission of Securityholders. Upon the execution of this Agreement, the Bank shall become and be designated as, automatically and without any further act on the part of any Person being necessary, the Common Securityholder. Without execution of this Agreement, upon the payment to the Company for the Company Preferred Securities being acquired by a Person in connection with the issuance of the Company Preferred Securities on the Closing Date pursuant to the terms of the related Underwriting Agreement, which action shall be deemed to constitute a request by such Person that the books and records of the Company reflect its admission as a Preferred Securityholder, such Person shall thereupon be admitted to the Company as a Preferred Securityholder and shall be bound by all the terms and conditions hereof and of the Company Preferred Securities.
Appears in 9 contracts
Samples: Administration Agreement (Ubs Preferred Funding Trust Iv), Administration Agreement (Ubs Preferred Funding Trust Iv), Limited Liability Company Agreement (UBS Preferred Funding Trust VIII)
