Covenants of the Sponsor. For so long as the Trust Preferred Securities remain outstanding, the Sponsor shall: (i) cause the Trust to remain a statutory business trust and not to voluntarily dissolve, wind up, liquidate, or terminate, except as permitted by this Agreement; (ii) use its commercially reasonable efforts to ensure that the Trust will not be (A) an Investment Company or (B) classified as other than a grantor trust for United States federal income tax purposes.
Appears in 4 contracts
Samples: Trust Agreement (Dte Energy Co), Trust Agreement (Dte Energy Co), Trust Agreement (Apache Trust Ii)
Covenants of the Sponsor. For so long as the Trust Preferred Securities remain outstanding, the Sponsor shall:
(i) cause the Trust to remain a statutory business trust and not to voluntarily dissolve, wind up, liquidate, or terminate, except as permitted by this Agreement;
(ii) use its commercially reasonable efforts to ensure that the Trust will not be (A) an Investment Company or (B) classified as other than a grantor trust for United States federal income tax purposes.
Appears in 2 contracts
Samples: Trust Agreement (Detroit Edison Trust I), Trust Agreement (Dte Energy Co)
Covenants of the Sponsor. For so long as the Trust Preferred Securities remain outstanding, the Sponsor shall:
(i) cause the Trust to remain a statutory business trust and not to voluntarily dissolve, wind wind-up, liquidate, liquidate or terminate, except as permitted by this Agreement;; and
(ii) use its commercially reasonable efforts to ensure that the Trust will not be (A) required to register as an Investment Company under the Investment Company Act or (B) classified as other than a grantor trust for United States federal income tax purposes.
Appears in 1 contract
Samples: Trust Agreement (Dte Energy Co)
Covenants of the Sponsor. For so long as the Trust Preferred Securities remain outstanding, the Sponsor shall:
(ia) cause the Trust to remain a statutory business trust and not to voluntarily dissolve, wind up, liquidate, or terminate, except as permitted by this Agreement;
(iib) use its commercially reasonable efforts to ensure that the Trust will not be be
(Ai) an Investment Company or or
(Bii) classified as other than a grantor trust for United States federal U.S. Federal income tax purposes.
Appears in 1 contract
Samples: Trust Agreement (Apache Corp)
