Common use of COVENANTS AS TO THE TRUST Clause in Contracts

COVENANTS AS TO THE TRUST. For so long as the Trust Securities of the Trust remain outstanding, the Company shall (i) maintain 100% direct or indirect ownership of the Common Securities of the Trust; provided, however, that any permitted successor of the Company under this Indenture may succeed to the Company's ownership of the Common Securities; (ii) not voluntarily terminate, wind up or liquidate the Trust, except upon prior approval of the Federal Reserve if then so required under applicable capital guidelines or policies of the Federal Reserve; and (iii) use its reasonable efforts to cause the Trust (a) to remain a business trust, except in connection with a distribution of Debentures, the redemption of all of the Trust Securities of the Trust, or certain mergers, consolidations or amalgamations, each as permitted by the Trust Agreement; and (b) to otherwise continue not to be treated as a grantor trust and not as an association taxable as a corporation or partnership for United States federal income tax purposes; and (iii) use its reasonable efforts to cause each holder of Trust Securities to be treated as owning an individual beneficial interest in the Debentures. In connection with the distribution of the Debentures to the holders of the Preferred Securities issued by the Trust upon a Dissolution Event, the Company shall use its best efforts to list such Debentures on The Nasdaq Stock Market's National Market or on such other exchange as the Preferred Securities are then listed.

Appears in 1 contract

Samples: Independent Capital Trust

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COVENANTS AS TO THE TRUST. For so long as the Trust Securities of the Trust remain outstanding, the Company shall (i) maintain 100% direct or indirect ownership of the Common Securities of the Trust; provided, however, that any permitted successor of the Company under this Indenture may succeed to the Company's ’s ownership of the Common Securities; (ii) not voluntarily terminate, wind up or liquidate the Trust, except upon prior approval of the Federal Reserve if then so required under applicable capital guidelines guidelines, policies or policies regulations of the Federal Reserve; and (iii) use its reasonable efforts to cause the Trust (a) to remain a business trusttrust (and to avoid involuntary dissolution, termination, winding up or liquidation), except in connection with a distribution of Debentures, the redemption of all of the Trust Securities of the Trust, Trust or certain mergers, consolidations or amalgamations, each as permitted by the Trust Agreement; Agreement and (b) to otherwise continue not to be treated as a grantor trust and not as an association taxable as a corporation or partnership for United States federal income tax purposes; and (iii) use its reasonable efforts to cause each holder of Trust Securities to be treated as owning an individual beneficial interest in the Debentures. In connection with the distribution of the Debentures to the holders of the Trust Preferred Securities issued by the Trust upon a Dissolution Event, the Company shall use its best reasonable efforts to list such Debentures on The Nasdaq Stock Market's National Market any applicable stock exchange or on such other exchange self-regulatory organization as the Trust Preferred Securities are then listed, if any.

Appears in 1 contract

Samples: Indenture (Alabama National Bancorporation)

COVENANTS AS TO THE TRUST. For so long as the Trust Securities of the Trust remain outstanding, the Company shall (i) maintain 100% direct or indirect ownership of the Common Securities of the Trust; provided, however, that any permitted successor of the Company under this Indenture may succeed to the Company's ownership of the Common Securities; (ii) not voluntarily terminate, wind up or liquidate the Trust, except upon prior approval of the Federal Reserve if then so required under applicable capital guidelines guidelines, policies or policies regulations of the Federal Reserve; and (iii) use its reasonable efforts to cause the Trust (a) to remain a business trusttrust (and to avoid involuntary dissolution, termination, winding up or liquidation), except in connection with a distribution of Debentures, the redemption of all of the Trust Securities of the Trust, Trust or certain mergers, consolidations or amalgamations, each as permitted by the Trust Agreement; Agreement and (b) to otherwise continue not to be treated as a grantor trust and not as an association taxable as a corporation or partnership for United States federal income tax purposes; and (iii) use its reasonable efforts to cause each holder of Trust Securities to be treated as owning an individual beneficial interest in the Debentures. In connection with the distribution of the Debentures to the holders of the Trust Preferred Securities issued by the Trust upon a Dissolution Event, the Company shall use its best reasonable efforts to list such Debentures on The Nasdaq Stock Market's National Market any applicable stock exchange or on such other exchange self- regulatory organization as the Trust Preferred Securities are then listed, if any.

Appears in 1 contract

Samples: Indenture (Heartland Financial Usa Inc)

COVENANTS AS TO THE TRUST. For so long as the such Trust Securities of the Trust remain outstanding, the Company shall (i) maintain 100% direct or indirect ownership of the Common Securities of the Trust; provided, however, that any permitted successor of the Company under this Indenture may succeed to the Company's ownership of the Common Securities; (ii) not voluntarily terminate, wind up or liquidate the Trust, except upon prior approval of the Federal Reserve if then so required under applicable capital guidelines guidelines, policies or policies regulations of the Federal Reserve; Reserve and (iii) use its reasonable efforts to cause the Trust (a) to remain a business trusttrust (and to avoid involuntary termination, winding up or liquidation), except in connection with a distribution of Debentures, the redemption of all of the Trust Securities of the Trust, Trust or certain mergers, consolidations or amalgamations, each as permitted by the Trust Agreement; and (b) to otherwise continue not to be treated as a grantor trust and not as an association taxable as a corporation or partnership for United States federal income tax purposes; and (iii) use its reasonable efforts to cause each holder of Trust Securities to be treated as owning an individual beneficial interest in the Debentures. In connection with the distribution of the Debentures to the holders of the Preferred Securities issued by the Trust upon a Dissolution Event, the Company shall use its best efforts to list such Debentures on The Nasdaq Stock National Market's National Market _ or on such other exchange as the Preferred Securities are then listed.

Appears in 1 contract

Samples: Wintrust Financial Corp

COVENANTS AS TO THE TRUST. For so long as the Trust Securities of the Trust remain outstanding, the Company shall (i) maintain 100% direct or indirect ownership of the Common Securities of the Trust; provided, however, that any permitted successor of the Company under this Indenture may succeed to the Company's ’s ownership of the Common Securities; (ii) not voluntarily terminate, wind up or liquidate the Trust, except upon prior approval of the Federal Reserve if then so required under applicable capital guidelines guidelines, policies or policies regulations of the Federal Reserve; and (iii) use its reasonable efforts to cause the Trust (a) to remain a business trusttrust (and to avoid involuntary dissolution, termination, winding up or liquidation), except in connection with a distribution of Debentures, the redemption of all of the Trust Securities of the Trust, Trust or certain mergers, consolidations or amalgamations, each as permitted by the Trust Agreement; Agreement and (b) to otherwise continue not to be treated as a grantor trust and not as an association taxable as a corporation or partnership for United States federal income tax purposes; and (iiiiv) use its reasonable efforts to cause each holder of Trust Securities to be treated as owning an individual beneficial interest in the Debentures. In connection with the distribution of the Debentures to the holders of the Trust Preferred Securities issued by the Trust upon a Dissolution Event, the Company shall use its best reasonable efforts to list such Debentures on The Nasdaq Stock Market's National Market any applicable stock exchange or on such other exchange self-regulatory organization as the Trust Preferred Securities are then listed, if any.

Appears in 1 contract

Samples: Indenture (San Rafael Bancorp)

COVENANTS AS TO THE TRUST. For so long as the such Trust Securities of the Trust remain outstanding, the Company shall (i) maintain 100% direct or indirect ownership of the Common Securities of the Trust; provided, however, that any permitted successor of the Company under this Indenture may succeed to the Company's ownership of the Common Securities; (ii) not voluntarily terminate, wind up or liquidate the Trust, except upon prior approval of the Federal Reserve if then so required under applicable capital guidelines guidelines, policies or policies regulations of the Federal Reserve; Reserve and (iii) use its reasonable efforts to cause the Trust (a) to remain a business trusttrust (and to avoid involuntary termination, winding up or liquidation), except in connection with a distribution of Debentures, the redemption of all of the Trust Securities of the Trust, Trust or certain mergers, consolidations or amalgamations, each as permitted by the Trust Agreement; and (b) to otherwise continue not to be treated as a grantor trust and not as an association taxable as a corporation or partnership for United States federal income tax purposes; and (iii) use its reasonable efforts to cause each holder of Trust Securities to be treated as owning an individual beneficial interest in the Debentures. In connection with the distribution of the Debentures to the holders of the Preferred Securities issued by the Trust upon a Dissolution Event, the Company shall use its best reasonable efforts to list such Debentures on The Nasdaq the American Stock Market's National Market Exchange or on such other exchange as the Preferred Securities are then listed.

Appears in 1 contract

Samples: Mbhi Capital Trust I

COVENANTS AS TO THE TRUST. For so long as the such Trust Securities of the Trust remain outstanding, the Company shall (i) maintain 100% direct or indirect ownership of the Common Securities of the Trust; provided, however, that any permitted successor of the Company under this Indenture may succeed to the Company's ownership of the Common Securities; (ii) not voluntarily terminate, wind up or liquidate the Trust, except upon prior approval of the Federal Reserve if then so required under applicable capital guidelines guidelines, policies or policies regulations of the Federal Reserve; Reserve and (iii) use its reasonable efforts to cause the Trust (a) to remain a business trusttrust (and to avoid involuntary termination, winding up or liquidation), except in connection with a distribution of Debentures, the redemption of all of the Trust Securities of the Trust, Trust or certain mergers, consolidations or amalgamations, each as permitted by the Trust Agreement; and (b) to otherwise continue not to be treated as a grantor trust and not as an association taxable as a corporation or partnership for United States federal income tax purposes; and (iii) use its reasonable efforts to cause each holder of Trust Securities to be treated as owning an individual beneficial interest in the Debentures. In connection with the distribution of the Debentures to the holders of the Preferred Securities issued by the Trust upon a Dissolution Event, the Company shall and (iv) use its reasonable best efforts to list such Debentures on The Nasdaq Stock Market's National Market or on such other exchange as maintain the eligibility of the Trust Preferred Securities are then listed.for quotation or listing on

Appears in 1 contract

Samples: Glacier Capital Trust I

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COVENANTS AS TO THE TRUST. For so long as the such Trust Securities of the Trust remain outstanding, the Company shall (i) maintain 100% direct or indirect ownership of the Common Securities of the Trust; provided, however, that any permitted successor of the Company under this Indenture may succeed to the Company's ownership of the Common Securities; (ii) not voluntarily terminate, wind up or liquidate the Trust, except upon prior approval of the Federal Reserve if then so required under applicable capital guidelines guidelines, policies or policies regulations of the Federal Reserve; Reserve and (iii) use its reasonable efforts to cause the Trust (a) to remain a business trusttrust (and to avoid involuntary termination, winding up or liquidation), except in connection with a distribution of Debentures, the redemption of all of the Trust Securities of the Trust, Trust or certain mergers, consolidations or amalgamations, each as permitted by the Trust Agreement; and (b) to otherwise continue not to be treated as a grantor trust and not as an association taxable as a corporation or partnership for United States federal income tax purposes; and (iii) use its reasonable efforts to cause each holder of Trust Securities to be treated as owning an individual beneficial interest in the Debentures. In connection with the distribution of the Debentures to the holders of the Trust Preferred Securities issued by the Trust upon a Dissolution Event, the Company shall use its best efforts to list have such Debentures quoted on The Nasdaq Stock Market's National Market the OTC Bulletin Board or listed on such other exchange or self regulatory organization as the Trust Preferred Securities are then listed.

Appears in 1 contract

Samples: Indenture (Paradigm Capital Trust Ii)

COVENANTS AS TO THE TRUST. For so long as the such Trust Securities of the Trust remain outstanding, the Company shall (i) maintain 100% direct or indirect ownership of the Common Securities of the Trust; provided, however, that any permitted successor of the Company under this Indenture may succeed to the Company's ownership of the Common Securities; (ii) not voluntarily terminate, wind up or liquidate the Trust, except upon prior approval of the Federal Reserve if then so required under applicable capital guidelines guidelines, policies or policies regulations of the Federal Reserve; Reserve and (iii) use its reasonable efforts to cause the Trust (a) to remain a business trusttrust (and to avoid involuntary termination, winding up or liquidation), except in connection with a distribution of Debentures, the redemption of all of the Trust Securities of the Trust, Trust or certain mergers, consolidations or amalgamations, each as permitted by the Trust Agreement; and (b) to otherwise continue not to be treated as a grantor trust and not as an association taxable as a corporation or partnership for United States federal income tax purposes; and (iii) use its reasonable efforts to cause each holder of Trust Securities to be treated as owning an individual beneficial interest in the Debentures. In connection with the distribution of the Debentures to the holders of the Trust Preferred Securities issued by the Trust upon a Dissolution Event, the Company shall use its best efforts to list such Debentures on The Nasdaq the American Stock Market's National Market Exchange or on such other exchange or self regulatory organization as the Trust Preferred Securities are then listed.

Appears in 1 contract

Samples: Front Range Capital Trust I

COVENANTS AS TO THE TRUST. For so long as the Trust Securities of the Trust remain outstanding, the Company shall (i) maintain 100% direct or indirect ownership of the Common Securities of the Trust; provided, however, that any permitted successor of the Company under this Indenture may succeed to the Company's ownership of the Common Securities; (ii) not voluntarily terminate, wind up or liquidate the Trust, except upon prior approval of the Federal Reserve if then so required under applicable capital guidelines guidelines, policies or policies regulations of the Federal Reserve; and (iii) use its reasonable efforts to cause the Trust (a) to remain a business trusttrust (and to avoid involuntary dissolution, termination, winding up or liquidation), except in connection with a distribution of Debentures, the redemption of all of the Trust Securities of the Trust, Trust or certain mergers, consolidations or amalgamations, each as permitted by the Trust Agreement; Agreement and (b) to otherwise continue not to be treated as a grantor trust and not as an association taxable as a corporation or partnership for United States federal income tax purposes; and (iiiiv) use its reasonable efforts to cause each holder of Trust Securities to be treated as owning an individual beneficial interest in the Debentures. In connection with the distribution of the Debentures to the holders of the Trust Preferred Securities issued by the Trust upon a Dissolution Event, the Company shall use its best reasonable efforts to list such Debentures on The Nasdaq Stock Market's National Market any applicable stock exchange or on such other exchange self-regulatory organization as the Trust Preferred Securities are then listed, if any.

Appears in 1 contract

Samples: Indenture (Florida Banks Inc)

COVENANTS AS TO THE TRUST. For so long as the Trust Securities of the Trust remain outstanding, the Company shall (i) maintain 100% direct or indirect ownership of the Common Securities of the Trust; provided, however, that any permitted successor of the Company under this Indenture may succeed to the Company's ownership of the Common Securities; (ii) not voluntarily terminate, wind up or liquidate the Trust, except upon prior approval of the Federal Reserve if then so required under applicable capital guidelines guidelines, policies or policies regulations of the Federal Reserve; and (iii) use its reasonable efforts to cause the Trust (a) to remain a business trusttrust (and to avoid involuntary dissolution, termination, winding up or liquidation), except in connection with a distribution of -27- Debentures, the redemption of all of the Trust Securities of the Trust, Trust or certain mergers, consolidations or amalgamations, each as permitted by the Trust Agreement; Agreement and (b) to otherwise continue not to be treated as a grantor trust and not as an association taxable as a corporation or partnership for United States federal income tax purposes; and (iiiiv) use its reasonable efforts to cause each holder of Trust Securities to be treated as owning an individual beneficial interest in the Debentures. In connection with the distribution of the Debentures to the holders of the Trust Preferred Securities issued by the Trust upon a Dissolution Event, the Company shall use its best reasonable efforts to list such Debentures on The Nasdaq Stock Market's National Market any applicable stock exchange or on such other exchange self-regulatory organization as the Trust Preferred Securities are then listed, if any.

Appears in 1 contract

Samples: Indenture (United Bancorporation of Alabama Inc)

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