Business of the Trust. The Trust has been formed for the purpose of: (i) issuing the Trust Preferred Securities, (ii) investing the proceeds of the Trust Preferred Securities in the Company Preferred Securities, which benefit from the related Subordinated Guarantee and (iii) engaging in any necessary or incidental activities. The Trust shall have the power and authority to execute, deliver and perform its obligations under the LLC Agreement and other agreements to which the Trust is a party and to become a member of the Grantor. The only assets of the Trust shall be the Company Preferred Securities and the related rights of the Trust under the Subordinated Guarantee. The Trust may not acquire any other assets, issue any other equity securities or any debt securities, or engage in any other activities.
Appears in 7 contracts
Samples: Trust Agreement (Ubs Preferred Funding Trust Iv), Trust Agreement (UBS Preferred Funding Trust VIII), Trust Agreement (UBS Preferred Funding Trust VIII)
Business of the Trust. The Trust has been formed for the purpose of: (i) issuing the Trust Preferred Securities, (ii) investing the proceeds of the Trust Preferred Securities in the Company Preferred Securities, which benefit from the related Subordinated Guarantee and (iii) engaging in any necessary related or incidental activities. The Trust shall have the power and authority to execute, deliver and perform its obligations under the LLC Agreement and other agreements to which the Trust is a party and to become a member of the Grantor. The only assets of the Trust shall be the Company Preferred Securities and the related rights of the Trust under the Subordinated Guarantee. The Trust may not acquire any other assets, issue any other equity securities or any debt securities, or engage in any other activities.
Appears in 2 contracts
Samples: Trust Agreement (Ubs Preferred Funding Trust Iii), Trust Agreement (Ubs Preferred Funding Trust Iii)
