Common use of Continuation of Trust Clause in Contracts

Continuation of Trust. The Trust exists for the purpose described in Section 4.3 of this Trust Agreement. The Grantor shall deliver to the Property Trustee for deposit in the Trust a certificate representing the Preferred Securities for the benefit of the Holders. Each Holder is intended by the Grantor to be the beneficial owner of the number of Preferred Securities represented by the Trust Securities held by such Holder, not to hold an undivided interest in all of the Preferred Securities. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustees and any other Holder, each Holder shall be entitled to enforce in the name of the Trust the Trust's rights under the Preferred Securities represented by the Trust Securities held by such Holder and any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustees or any other Holder individually or to Holders as a group. Subject to Article VIII, this Trust shall be irrevocable.