Common use of DECLARATION OF TRUST; PURPOSES OF THE TRUST Clause in Contracts

DECLARATION OF TRUST; PURPOSES OF THE TRUST. The Sponsor hereby creates the Trust solely so that it may issue and sell the TrUEPrS to the Sponsor and the Underwriters, invest all the proceeds from each such sale in an equivalent principal amount of the Debt Securities issued by the U.K. Company, hold the Trust Estate in trust for the use and benefit of all present and future Holders and otherwise carry out the terms and conditions of this Trust Agreement, all for the purpose of achieving the investment objectives set forth in the Prospectus. The Trustees hereby declare that they will accept and hold the Trust Estate for the use and benefit of all present and future Holders. The Depositor has heretofore deposited with the Trustees the sum of US$1 to accept and hold in trust hereunder until the issuance and sale of the TrUEPrS to the Underwriters, whereupon such sum shall be donated to an organization satisfying the requirements of Section 170(c)(2) of the Code selected by unanimous consent of the Trustees.

Appears in 2 contracts

Samples: Trust Agreement (Anz Exchangeable Preferred Trust), Trust Agreement (Nab Exchangeable Preferred Trust)

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DECLARATION OF TRUST; PURPOSES OF THE TRUST. The Sponsor hereby ------------------------------------------- creates the Trust solely so that it may issue and sell the TrUEPrS to the Sponsor and the Underwriters, invest all the proceeds from each such sale in an equivalent principal amount of the Debt Securities issued by the U.K. Company, hold the Trust Estate in trust for the use and benefit of all present and future Holders and otherwise carry out the terms and conditions of this Trust Agreement, all for the purpose of achieving the investment objectives set forth in the Prospectus. The Trustees hereby declare that they will accept and hold the Trust Estate for the use and benefit of all present and future Holders. The Depositor has heretofore deposited with the Trustees the sum of US$1 to accept and hold in trust hereunder until the issuance and sale of the TrUEPrS to the Underwriters, whereupon such sum shall be donated to an organization satisfying the requirements of Section 170(c)(2) of the Code selected by unanimous consent of the Trustees.

Appears in 1 contract

Samples: Trust Agreement (Def Exchangeable Preferred Trust)

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DECLARATION OF TRUST; PURPOSES OF THE TRUST. The Sponsor ------------------------------------------- hereby creates the Trust solely so that it may issue and sell the TrUEPrS to the Sponsor and the Underwriters, invest all the proceeds from each such sale in an equivalent principal amount of the Debt Securities issued by the U.K. Company, hold the Trust Estate in trust for the use and benefit of all present and future Holders and otherwise carry out the terms and conditions of this Trust Agreement, all for the purpose of achieving the investment objectives set forth in the Prospectus. The Trustees hereby declare that they will accept and hold the Trust Estate for the use and benefit of all present and future Holders. The Depositor has heretofore deposited with the Trustees the sum of US$1 to accept and hold in trust hereunder until the issuance and sale of the TrUEPrS to the Underwriters, whereupon such sum shall be donated to an organization satisfying the requirements of Section 170(c)(2) of the Code selected by unanimous consent of the Trustees.

Appears in 1 contract

Samples: Trust Agreement (Anz Exchangeable Preferred Trust Ii)

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