Common use of Admission of Securityholders Clause in Contracts

Admission of Securityholders. Upon the execution of this Agreement, TECO shall become and be designated as, automatically and without any further act on the part of any Person being necessary, the Common Securityholder. Upon the payment of the Purchase Price to the Company for the Company Preferred Securities being acquired by the Trust 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 the Trust that the books and records of the Company reflect its admission as a Preferred Securityholder, the Trust 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.

Admission of Securityholders. Upon the execution of this Agreement, TECO shall become and be designated as, automatically and without any further act on the part of any Person being necessary, the LLC Common Securityholder. Upon the payment of the Purchase Price to the Company LLC for the Company LLC Preferred Securities being acquired by the Trust in connection with the issuance of the Company LLC 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 the Trust that the books and records of the Company LLC reflect its admission as a Preferred Securityholder, the Trust shall thereupon be admitted to the Company LLC as a Preferred Securityholder and shall be bound by all the terms and conditions hereof and of the Company LLC Preferred Securities.