Changes Affecting Preferred Securities and Reclassifications, Recapitalizations, Etc. Upon any consolidation, amalgamation, merger, replacement or conveyance, transfer or lease by the Grantor of its properties and assets substantially in their entirety in accordance with Section 13.02(e) of the Partnership Agreement, the Trustee shall, upon the instructions of the Grantor, treat any Successor Securities or other property that shall be received by the Trustee in exchange for or upon conversion of or in respect of the Preferred Securities as part of the Trust Estate, and Receipts then outstanding shall thenceforth represent the proportionate interests of Holders thereof in the new deposited property so received in exchange for or upon conversion or in respect of such Preferred Securities.
Appears in 3 contracts
Samples: Trust Agreement (Peco Energy Capital Trust Ii), Trust Agreement (Peco Energy Co), Trust Agreement (Peco Energy Co)
Changes Affecting Preferred Securities and Reclassifications, Recapitalizations, Etc. Upon any consolidation, amalgamation, merger, replacement or conveyance, transfer or lease by the Grantor of its properties and assets substantially in their entirety in accordance with Section 13.02(e) of the Partnership Agreement, the Property Trustee shall, upon the instructions of the Grantor, treat any Successor Securities or other property that shall be received by the Property Trustee in exchange for or upon conversion of or in respect of the Preferred Securities as part of the Trust Estate, and Receipts Trust Securities then outstanding shall thenceforth represent the proportionate interests of Holders thereof in the new deposited property so received in exchange for or upon conversion or in respect of such Preferred Securities.
Appears in 2 contracts
Samples: Trust Agreement (Met Ed Capital Trust), Trust Agreement (Penelec Capital Trust)
Changes Affecting Preferred Securities and Reclassifications, Recapitalizations, Etc. Upon any consolidation, amalgamation, merger, replacement or conveyance, transfer or lease by the Grantor of its properties and assets substantially in their entirety in accordance with Section 13.02(e) of the Partnership Agreement, the Trustee shall, upon the instructions of the Grantor, treat any Successor Securities or other property that shall be received by the Trustee in exchange for or upon conversion of or in respect of the Preferred Securities as part of the Trust Estate, and Receipts Capital Securities then outstanding shall thenceforth represent the proportionate interests of Holders thereof in the new deposited property so received in exchange for or upon conversion or in respect of such Preferred Securities.
Appears in 2 contracts
Samples: Trust Agreement (Peco Energy Capital Trust Iii), Trust Agreement (Peco Energy Co)
Changes Affecting Preferred Securities and Reclassifications, Recapitalizations, Etc. Upon any consolidation, amalgamation, merger, replacement replacement, or conveyance, transfer or lease by the Grantor Partnership of its properties and assets substantially in their as an entirety in accordance with Section 13.02(e) of the Partnership Agreement, the Trustee shall, upon the instructions of the Grantor, treat any Successor Securities or other property (including cash) that shall be received by the Trustee in exchange for or upon conversion of or in respect of the Preferred Securities as part of the Trust Estate, Estate and Receipts then outstanding shall thenceforth represent the proportionate interests of Holders thereof in the new deposited property so received in exchange for or upon conversion or in respect of such Preferred Securities.
Appears in 2 contracts
Samples: Trust Agreement (Peco Energy Co), Trust Agreement (Peco Energy Capital Trust I)
Changes Affecting Preferred Securities and Reclassifications, Recapitalizations, Etc. Upon any consolidation, amalgamation, merger, replacement or conveyance, transfer or lease by the Grantor Partnership of its properties and assets substantially in their as an entirety in accordance with Section 13.02(e) of the Partnership Agreement, the Trustee shall, upon the instructions of the Grantor, treat any Successor Securities or other property (including cash) that shall be received by the Trustee in exchange for or upon conversion of or in respect of the Preferred Securities as part of the Trust Estate, and Receipts Capital Securities then outstanding shall thenceforth represent the proportionate interests of Holders thereof in the new deposited property so received in exchange for or upon conversion or in respect of such Preferred Securities.
Appears in 2 contracts
Samples: Trust Agreement (Peco Energy Co), Trust Agreement (Peco Energy Capital Trust Iii)
Changes Affecting Preferred Securities and Reclassifications, Recapitalizations, Etc. Upon any consolidation, amalgamation, merger, replacement replacement, or conveyance, transfer or lease by the Grantor of its properties and assets substantially in their entirety in accordance with Section 13.02(e) of the Partnership Agreement, the Trustee shall, upon the instructions of the Grantor, treat any Successor Securities or other property that shall be received by the Trustee in exchange for or upon conversion of or in respect of the Preferred Securities as part of the Trust Estate, and Receipts then outstanding shall thenceforth represent the proportionate interests of Holders thereof in the new deposited property so received in exchange for or upon conversion or in respect of such Preferred Securities.
Appears in 2 contracts
Samples: Trust Agreement (Peco Energy Co), Trust Agreement (Peco Energy Capital Trust I)
Changes Affecting Preferred Securities and Reclassifications, Recapitalizations, Etc. Upon any consolidation, amalgamation, conversion, merger, replacement or conveyance, transfer or lease by the Grantor of its properties and assets substantially in their entirety in accordance with Section 13.02(e) of the Partnership Agreement, the Property Trustee shall, upon the instructions of the Grantor, treat any Successor Securities or other property that shall be received by the Property Trustee in exchange for or upon conversion of or in respect of the Preferred Securities as part of the Trust Estate, and Receipts Trust Securities then outstanding shall thenceforth represent the proportionate interests of Holders thereof in the new deposited property so received in exchange for or upon conversion or in respect of such Preferred Securities.
Appears in 2 contracts
Samples: Trust Agreement (Pennsylvania Electric Co), Trust Agreement (Metropolitan Edison Co)
Changes Affecting Preferred Securities and Reclassifications, Recapitalizations, Etc. Upon any consolidation, amalgamation, conversion, merger, replacement or conveyance, transfer or lease by the Grantor Partnership of its properties and assets substantially in their as an entirety in accordance with Section 13.02(e) of the Partnership Agreement, the Property Trustee shall, upon the instructions of the Grantor, treat any Successor Securities or other property (including cash) that shall be 30 received by the Property Trustee in exchange for or upon conversion of or in respect of the Preferred Securities as part of the Trust Estate, and Receipts Trust Securities then outstanding shall thenceforth represent the proportionate interests of Holders thereof in the new deposited property so received in exchange for or upon conversion or in respect of such Preferred Securities.
Appears in 1 contract
Changes Affecting Preferred Securities and Reclassifications, Recapitalizations, Etc. Upon any consolidation, amalgamation, conversion, merger, replacement or conveyance, transfer or lease by the Grantor Partnership of its properties and assets substantially in their as an entirety in accordance with Section 13.02(e) of the Partnership Agreement, the Property Trustee shall, upon the instructions of the Grantor, treat any Successor Securities or other property (including cash) that shall be received by the Property Trustee in exchange for or upon conversion of or in respect of the Preferred Securities as part of the Trust Estate, and Receipts Trust Securities then outstanding shall thenceforth represent the proportionate interests of Holders thereof in the new deposited property so received in exchange for or upon conversion or in respect of such Preferred Securities.
Appears in 1 contract
Changes Affecting Preferred Securities and Reclassifications, Recapitalizations, Etc. Upon any consolidation, amalgamation, merger, replacement or conveyance, transfer or lease by the Grantor Partnership of its properties and assets substantially in their as an entirety in accordance with Section 13.02(e) of the Partnership Agreement, the Trustee shall, upon the instructions of the Grantor, treat any Successor Securities or other property (including cash) that shall be received by the Trustee in exchange for or upon conversion of or in respect of the Preferred Securities as part of the Trust Estate, Estate and Receipts then outstanding shall thenceforth represent the proportionate interests of Holders thereof in the new deposited property so received in exchange for or upon conversion or in respect of such Preferred Securities.
Appears in 1 contract