Common use of Authorization of Capital Securities Clause in Contracts

Authorization of Capital Securities. The Capital Securities have been duly authorized for issuance by the Trust pursuant to the Declaration and when duly issued, executed, authenticated and delivered by the Trust on the Closing Date against payment therefor as provided herein, the Capital Securities will be validly issued and fully paid and nonassessable undivided preferred beneficial ownership interests in the assets of the Trust; the issuance of the Capital Securities will not be subject to preemptive or other similar rights; and the Capital Securities will be in the form contemplated by, and entitled to the benefits of, the Declaration.

Authorization of Capital Securities. The Capital Securities have been duly authorized for issuance by the Trust pursuant to the Declaration and when duly authorized, issued, executed, authenticated and delivered by in accordance with the Trust on the Closing Date against payment therefor as provided herein, the Capital Securities will be Declaration and are validly issued and fully paid and nonassessable undivided preferred beneficial ownership interests in the assets of the Trust; the issuance of the Capital Securities will not be subject to preemptive or other similar rights; and the Capital Securities will be are in the form contemplated by, and entitled to the benefits of, the Declaration.

Authorization of Capital Securities. The Capital Securities have been duly authorized for issuance by the Trust pursuant to the Declaration and and, when duly issued, executed, authenticated issued and delivered by the Trust on the Closing Date against payment therefor as provided herein, the Capital Securities will be validly issued and fully paid and nonassessable non-assessable undivided preferred beneficial ownership interests in the assets of the Trust; the . The issuance of the Capital Securities will not be subject to preemptive or other similar rights; and the . The Capital Securities will be in the form contemplated by, and each registered holder thereof will be entitled to the benefits of, the Declaration.

Authorization of Capital Securities. The Capital Securities have been duly authorized for issuance by the Trust pursuant to authorized, issued and executed and, when authenticated in accordance with the Declaration and when duly issued, executed, authenticated and delivered by the Trust on the Closing Date against payment therefor as provided herein, the Capital Securities herein will be validly issued and fully paid and nonassessable undivided preferred beneficial ownership interests in the assets of the Trust; the issuance of the Capital Securities will is not be subject to preemptive or other similar rights; and the Capital Securities will be are in the form contemplated by, and will be entitled to the benefits of, the Declaration.