Definitive Preferred Securities Certificates. If (i) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (ii) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, then the Administrative Trustees shall notify the Clearing Agency and Holders of the Preferred Securities. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 61 contracts
Samples: Trust Agreement (Southwestern Electric Power Co), Trust Agreement (Alabama Power Capital Trust Iv), Trust Agreement (Gulf Power Co)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 19 contracts
Samples: Trust Agreement (Lincoln National Corp), Trust Agreement (Lincoln National Corp), Trust Agreement (Lincoln National Corp)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Clearing Agency shall notify all Owners of Preferred Securities Certificates and the Clearing Agency and Holders Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 10 contracts
Samples: Trust Agreement (Chubb Capital Trust Iii), Trust Agreement (AmerUs Capital V), Trust Agreement (Pacific Gas & Electric Co)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities CertificatesCertificates or the Clearing Agency is no longer registered or in good standing under the Securities Exchange Act of 1934, as amended, or other applicable statute or regulation, and the Depositor is unable to locate a qualified successorsuccessor within 90 days, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) an Event of Default occurs and is continuing, then the Administrative Trustees Trustee shall notify the Clearing Agency and Holders of the issue Definitive Preferred SecuritiesSecurities Certificates. Upon surrender to the Administrative Trustees Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them Trustee shall execute and authenticate deliver the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustee, as evidenced by the execution thereof by the Administrative Trustees or any one of themTrustee.
Appears in 9 contracts
Samples: Trust Agreement (Pse&g Capital Trust Iii), Trust Agreement (Public Service Electric & Gas Co), Trust Agreement (Public Service Electric & Gas Co)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interests of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency, and the Clearing Agency and Holders shall notify all Owners of Preferred Securities Certificates, of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 8 contracts
Samples: Trust Agreement (Public Service Co of Oklahoma), Trust Agreement (Union Bankshares Capital Trust I), Trust Agreement (Southwestern Electric Power Co)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 7 contracts
Samples: Trust Agreement (Mellon Capital Iii), Trust Agreement (WSFS Financial Corp), Trust Agreement (Liberty Financial Capital Trust Ii)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities act as clearing agency with respect to the Preferred Securities Certificates, and the Depositor is unable fails to locate appoint a qualified successorsuccessor within 90 days, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount of the Outstanding Preferred Securities advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 6 contracts
Samples: Trust Agreement (Assured Guaranty Capital Trust I), Trust Agreement (Ace LTD), Trust Agreement (Ace Ina Holdings Inc)
Definitive Preferred Securities Certificates. If (i) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successorsuccessor within 90 days of receipt by the Depositor of such written advice, or (ii) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, then the Administrative Trustees shall notify the Clearing Agency and Holders of the Preferred Securities. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Security Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 5 contracts
Samples: Trust Agreement (Defs Capital Trust I), Trust Agreement (Duke Capital Financing Trust Vi), Trust Agreement (Duke Capital Financing Trust Vi)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees shall notify other Trustees and the Clearing Agency, and the Clearing Agency, in accordance with its customary rules and procedures, shall notify all Clearing Agency and Holders Participants for whom it holds Preferred Securities of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing AgencyAgency or, if executed on behalf of the Trust by facsimile, countersigned by a transfer agent or its agent. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustees that meets the requirements of any stock exchange or automated quotation system on which the Preferred Securities are then listed or approved for trading, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 5 contracts
Samples: Trust Agreement (Mbna Capital V), Trust Agreement (Mbna Capital V), Trust Agreement (Mbna Capital V)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities act as clearing agency with respect to the Preferred Securities Certificates, and the Depositor is unable fails to locate appoint a qualified successorsuccessor within 90 days, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute execute, and the Property Trustee shall authenticate and deliver, the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be fully protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 4 contracts
Samples: Trust Agreement (PartnerRe Finance B LLC), Trust Agreement (PartnerRe Finance B LLC), Trust Agreement (Partnerre LTD)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities CertificatesCertificates or the Clearing Agency is no longer registered or in good standing under the Securities Exchange Act of 1934, as amended, or other applicable statute or regulation, and the Depositor is unable to locate a qualified successorsuccessor within 60 calendar days, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) an Event of Default occurs and is continuing, then the Administrative Trustees Trustee shall notify the Clearing Agency and Holders of the issue Definitive Preferred SecuritiesSecurities Certificates. Upon surrender to the Administrative Trustees Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them Trustee shall execute and authenticate deliver the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustee, as evidenced by the execution thereof by the Administrative Trustees or any one of themTrustee.
Appears in 4 contracts
Samples: Trust Agreement (Pseg Funding Trust Ii), Trust Agreement (Public Service Electric & Gas Co), Trust Agreement (Pseg Funding Trust Ii)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees shall notify the other Trustees and the Clearing Agency, and the Clearing Agency, in accordance with its customary rules and procedures, shall notify all Clearing Agency and Holders Participants for whom it holds Preferred Securities of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing AgencyAgency which, if executed on behalf of the Trust by facsimile, shall be countersigned by a transfer agent or its agent. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be typewritten, printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustees that meets the requirements of any stock exchange or automated quotation system on which the Preferred Securities are then listed or approved for trading, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 4 contracts
Samples: Trust Agreement (First Tennessee Capital Iv), Trust Agreement (First Tennessee Capital Iv), Trust Agreement (First Tennessee Capital Iv)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees shall notify the Clearing Agency and Holders the other Trustees and the Clearing Agency shall notify all Owners of Preferred Securities Certificates of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be fully protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be typewritten, printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustees that meets the requirements of any stock exchange or automated quotation system on which the Preferred Securities are then listed or approved for trading, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 3 contracts
Samples: Trust Agreement (Schwab Charles Corp), Trust Agreement (Hl&p Capital Trust Iv), Trust Agreement (Hl&p Capital Trust Iv)
Definitive Preferred Securities Certificates. If If
(ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial ownership interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 3 contracts
Samples: Trust Agreement (Wisconsin Energy Corp), Trust Agreement (Wec Capital Trust Ii), Trust Agreement (Applied Power Capital Trust Ii)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities act as clearing agency with respect to the Preferred Securities Certificates, and the Depositor is unable fails to locate appoint a qualified successorsuccessor within ninety (90) days, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Note Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount of the Outstanding Preferred Securities advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 3 contracts
Samples: Trust Agreement (Trenwick America Capital Trust Iii), Trust Agreement (Trenwick America Capital Trust Iii), Trust Agreement (Trenwick America Capital Trust Iii)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities representing beneficial interests aggregating at least a majority of the Liquidation Amount of the Outstanding Preferred Securities advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities, then the Administrative Trustees Clearing Agency shall notify all Owners of Preferred Securities and the Clearing Agency and Holders Trustees of the occurrence of any such event and of the availability of Definitive Preferred SecuritiesSecurities Certificates. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 3 contracts
Samples: Trust Agreement (Usf&g Corp), Trust Agreement (Usf&g Corp), Trust Agreement (Usf&g Corp)
Definitive Preferred Securities Certificates. If (ia) the Depositor Sponsor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor Sponsor is unable to locate a qualified successor, or (iib) the Depositor Sponsor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of an Event of Default with respect to any Debt Security, Owners of Preferred Securities Certificates representing beneficial ownership interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 3 contracts
Samples: Trust Agreement (Covanta Capital Trust Iii), Trust Agreement (Idacorp Trust Iii), Trust Agreement (Idacorp Trust Iii)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency notifies the Depositor that it is no longer willing or able to properly discharge continue as depositary for the Preferred Securities Certificates and no successor Clearing Agency shall have been appointed, or if at any time the Clearing Agency ceases to be a clearing agency registered under the Exchange Act, at a time when the Clearing Agency is required to be so registered to act as such depositary, and no successor depositary shall have been appointed, or (b) the Depositor, in its responsibilities with respect to sole discretion, determines that such Preferred Securities Certificates shall be so exchangeable, or (c) after there shall have occurred and be continuing a Debenture Event of Default, Owners of Book Entry Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system trough the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, and then, in each case, the Depositor is unable to locate a qualified successor, or (ii) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event that Definitive Preferred SecuritiesSecurities Certificates will be distributed to such Owners in exchange for their beneficial interests in such Preferred Securities Certificate or Certificates. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing AgencyAgency and deliver the same to or upon the order of the Clearing Agency or an authorized representative thereof. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printedengraved and executed in accordance with the applicable rules of the American Stock Exchange or such other national exchange or over-the-counter market on which the Preferred Securities are then listed for trading. Thereafter, lithographed or engraved or may payments of Distributions (including Additional Amounts, if applicable) in respect of the Definitive Preferred Securities Certificates shall be produced in any other manner as is reasonably acceptable made by check mailed to the Administrative Trusteesaddress of the Person entitled thereto as such address shall appear on the Securities Register, as evidenced provided that payments will be made by wire transfer if requested by a holder of at least $1,000,000 aggregate Liquidation Amount of the execution thereof by the Administrative Trustees or any one of themPreferred Securities.
Appears in 3 contracts
Samples: Trust Agreement (Easy Gardener Products LTD), Trust Agreement (Us Home & Garden Trust I), Trust Agreement (Us Home & Garden Trust I)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of an Indenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively 45 -39- rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 3 contracts
Samples: Trust Agreement (Atlas Air Capital Iii), Trust Agreement (Atlas Air Capital Iii), Trust Agreement (Atlas Air Capital Iii)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 3 contracts
Samples: Trust Agreement (Owens Corning Capital Ii), Trust Agreement (FCNB Capital Trust), Trust Agreement (Owens Corning Capital Ii)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of an Indenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the aggregate Liquidation Amount of the Outstanding Preferred Securities advise the Regular Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Regular Trustees shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Regular Trustees or the Securities Registrar of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Regular Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Regular Trustees, as evidenced by the execution thereof by the Administrative Regular Trustees or any one of them.
Appears in 3 contracts
Samples: Trust Agreement (Sce Trust I), Trust Agreement (Eix Trust Iii), Subordinated Indenture (Edison International)
Definitive Preferred Securities Certificates. If In the event that:
(i) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or if at any time the Person then acting as Clearing Agency ceases to be registered under the Exchange Act at a time when such Person is required to be so registered, or
(ii) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed engraved and executed in accordance with the applicable rules of the Nasdaq National Market or engraved such other national exchange or may be produced in any other manner as is reasonably acceptable to over-the-counter market on which the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of themPreferred Securities are then listed for trading.
Appears in 3 contracts
Samples: Trust Agreement (Bancfirst Corp /Ok/), Trust Agreement (Bancfirst Corp /Ok/), Trust Agreement (BFC Capital Trust Ii)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interests of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency, and the Clearing Agency and Holders shall notify all Owners of Preferred Securities Certificates, of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as SecurityholdersSecurity holders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 3 contracts
Samples: Trust Agreement (Fw Capital I), Trust Agreement (Spectrum Capital Trust I), Trust Agreement (Spectrum Capital Trust Ii)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed engraved and executed in accordance with the applicable rules of the American Stock Exchange or engraved such other national exchange or may be produced in any other manner as is reasonably acceptable to over-the-counter market on which the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of themPreferred Securities are then listed for trading.
Appears in 3 contracts
Samples: Trust Agreement (Glacier Water Services Inc), Trust Agreement (Glacier Water Services Inc), Trust Agreement (Us Home & Garden Trust I)
Definitive Preferred Securities Certificates. If If, with respect to Book-Entry Preferred Securities, (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Book-Entry Preferred Securities CertificatesCertificates or the Clearing Agency is no longer registered or in good standing under the Securities Exchange Act of 1934, as amended, or other applicable statute or regulation, and the Depositor is unable to locate a qualified successorsuccessor within 90 calendar days, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) an Event of Default occurs and is continuing, then the Administrative Trustees Trust shall notify the Clearing Agency and Holders of the issue Definitive Preferred SecuritiesSecurities Certificates. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, one of the Administrative Trustees or any one of them shall execute and authenticate deliver the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing AgencyAgency and the Depositor will appoint a Paying Agent with respect to such Definitive Preferred Securities Certificates. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by one of the Administrative Trustees or any one of themTrustees.
Appears in 2 contracts
Samples: Trust Agreement (Public Service Electric & Gas Co), Trust Agreement (Public Service Enterprise Group Inc)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or if at any time the Person then acting as Clearing Agency ceases to be registered under the Exchange Act at a time when such Person is required to be so registered, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed engraved and executed in accordance with the applicable rules of the Nasdaq National Market or engraved such other national exchange or may be produced in any other manner as is reasonably acceptable to over-the-counter market on which the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of themPreferred Securities are then listed for trading.
Appears in 2 contracts
Samples: Trust Agreement (Silicon Valley Bancshares), Trust Agreement (Silicon Valley Bancshares)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Stock Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the aggregate Liquidation Amount of the Outstanding Preferred Securities advise the Regular Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Regular Trustees shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Regular Trustees or the Securities Registrar of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Regular Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Regular Trustees, as evidenced by the execution thereof by the Administrative Regular Trustees or any one of them.
Appears in 2 contracts
Samples: Trust Agreement (Sce Trust I), Trust Agreement (Sce Trust I)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees,or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. .Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 2 contracts
Samples: Trust Agreement (Lincoln National Capital Vi), Trust Agreement (Lincoln National Capital Vi)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successorsuccessor within 90 days of receipt by the Depositor of such written advice, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute on behalf of the Trust, and authenticate cause to be authenticated by the Property Trustee the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 2 contracts
Samples: Trust Agreement (Rli Corp), Trust Agreement (Harleysville Group Inc)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees shall notify other Trustees and the Clearing Agency, and the Clearing Agency, in accordance with its customary rules and procedures, shall notify all Clearing Agency and Holders Participants for whom it holds Preferred Securities of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute execute, and the Property Trustee shall authenticate and deliver, the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be typewritten, printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustees that meets the requirements of any stock exchange or automated quotation system on which the Preferred Securities are then listed or approved for trading, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 2 contracts
Samples: Trust Agreement (Pennsylvania Power & Light Co /Pa), Trust Agreement (Pennsylvania Power & Light Co /Pa)
Definitive Preferred Securities Certificates. If (i) the -------------------------------------------- Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successorsuccessor within 90 days of receipt by the Depositor of such written advice, or (ii) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, then the Administrative Trustees shall notify the Clearing Agency and Holders of the Preferred Securities. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Security Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 2 contracts
Samples: Trust Agreement (Duke Energy Capital Trust Ii), Trust Agreement (Duke Capital Financing Trust Iii)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of an Indenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as SecurityholdersHolders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 2 contracts
Samples: Declaration of Trust and Trust Agreement (Willamette Industries Inc), Declaration of Trust and Trust Agreement (Willamette Industries Inc)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial ownership interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 2 contracts
Samples: Trust Agreement (Actuant CORP Capital Trust II), Trust Agreement (Empire District Electric Trust Ii)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, or (c) after the occurrence of a Debenture Event of Default, owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interests of the owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency, and the Clearing Agency and Holders shall notify all Owners of Preferred Securities Certificates, of the occurrence of any such event and of the availability 25 31 of the Definitive Preferred SecuritiesSecurities Certificates to owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 2 contracts
Samples: Trust Agreement (Ibc Capital Finance), Trust Agreement (Ibc Capital Finance)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing willing, or able eligible to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successorsuccessor within 90 days, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interests of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency, and the Clearing Agency and Holders shall notify all Owners of Preferred Securities Certificates, of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 2 contracts
Samples: Trust Agreement (MBWM Capital Trust I), Trust Agreement (MBWM Capital Trust I)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to discharge properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities representing an aggregate Liquidation Amount equal to not less than a majority of the aggregate Liquidation Amount of all Outstanding Trust Securities cause the Clearing Agency to advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interests of the Owners of Preferred Securities, then the Administrative Trustees Property Trustee shall notify the Clearing Agency, and the Clearing Agency and Holders shall notify all Owners of Preferred Securities, of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificate or Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates represented thereby as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 2 contracts
Samples: Trust Agreement (Bank of the Ozarks Inc), Trust Agreement (Ozark Capital Trust)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to discharge properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interests of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency, and the Clearing Agency and Holders shall notify all Owners of Preferred Securities Certificates, of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 2 contracts
Samples: Trust Agreement (Blue Valley Ban Corp), Trust Agreement (BVBC Capital Trust I)
Definitive Preferred Securities Certificates. If (i) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successorsuccessor within 90 days of receipt by the Depositor of such written advice, or (ii) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, then the Administrative Trustees shall notify the Clearing Agency and Holders of the Preferred Securities. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Security Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced evidence by the execution thereof by the Administrative Trustees or any one of them.
Appears in 2 contracts
Samples: Trust Agreement (Duke Energy Capital Trust V), Trust Agreement (Citizens Communications Co)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees shall notify the Clearing Agency and Holders the other Trustees and the Clearing Agency shall notify all Owners of Preferred Securities Certificates of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them, shall execute or, if such execution is by facsimile signature, the Administrative Trustee or any one of them shall execute and authenticate deliver a written order for the Property Trustee to authenticate, in which case the Property Trustee shall authenticate, the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be fully protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be typewritten, printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustees that meets the requirements of any stock exchange or automated quotation system on which the Preferred Securities are then listed or approved for trading, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 2 contracts
Samples: Trust Agreement (Hl&p Capital Trust I), Trust Agreement (Hl&p Capital Trust I)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities CertificatesCertificates or the Clearing Agency is no longer registered or in good standing under the Securities Exchange Act of 1934, as amended, or other applicable statute or regulation, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) an Event of Default occurs and is continuing, then the Administrative Trustees Trustee shall notify the Clearing Agency and Holders of the issue Definitive Preferred SecuritiesSecurities Certificates. Upon surrender to the Administrative Trustees Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them Trustee shall execute and authenticate deliver the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustee, as evidenced by the execution thereof by the Administrative Trustees or any one of themTrustee.
Appears in 2 contracts
Samples: Trust Agreement (Pseg Power Capital Trust V), Trust Agreement (Pse&g Capital Trust Iii)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities act as clearing agency with respect to the Preferred Securities Certificates, and the Depositor is unable fails to locate appoint a qualified successorsuccessor within ninety (90) days, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount of the Outstanding Preferred Securities advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be fully protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 2 contracts
Samples: Trust Agreement (MRH Capital Trust I), Trust Agreement (MRH Capital Trust I)
Definitive Preferred Securities Certificates. (a) The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees that meets the requirements of any stock exchange or automated quotation system on which the Preferred Securities are then listed or approved for trading, as evidenced by the execution thereof by the Administrative Trustees or any one of them. The Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders.
(b) If (ix) the Depositor or the Clearing Agency advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Book-Entry Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or if at anytime the Clearing Agency ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, at a time when the Clearing Agency is required to be so registered to act as such depositary or (iiy) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, then the Administrative Trustees shall notify other Trustees and the Clearing Agency, and the Clearing Agency, in accordance with its customary rules and procedures, shall notify all Clearing Agency and Holders Participants for whom it holds Preferred Securities of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing AgencyAgency or, if executed on behalf of the Trust by facsimile, countersigned by a transfer agent or its agent. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 2 contracts
Samples: Trust Agreement (Mbna Corp), Trust Agreement (Mbna Capital C)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities act as clearing agency with respect to the Preferred Securities Certificates, and the Depositor is unable fails to locate appoint a qualified successorsuccessor within 90 days, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount of the Outstanding Preferred Securities advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute execute, and the Property Trustee shall authenticate and deliver, the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be fully protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 2 contracts
Samples: Trust Agreement (Partnerre LTD), Trust Agreement (Partnerre LTD)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them. Notwithstanding the foregoing, if and to the extent that any of the Preferred Securities evidenced by the Definitive Preferred Securities Certificates referred to in this paragraph are still pledged pursuant to the Pledge Agreement, such Certificates shall be delivered to the Collateral Agent to be held by the Collateral Agent as collateral pledged pursuant to the Pledge Agreement.
Appears in 2 contracts
Samples: Trust Agreement (Lincoln National Corp), Trust Agreement (Lincoln National Corp)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.the
Appears in 2 contracts
Samples: Trust Agreement (Sierra Pacific Resources Capital Trust Ii), Trust Agreement (Sierra Pacific Resources Capital Trust Ii)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Indenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustee(s) in writing that the continuation of a book entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Trustee(s) shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Trustee(s) of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustee(s), or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustee(s), as evidenced by the execution thereof by the Administrative Trustees Trustee(s) or any one of them.
Appears in 2 contracts
Samples: Trust Agreement (Oneok Inc /New/), Trust Agreement (Oneok Inc /New/)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, successor or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed engraved and executed in accordance with the applicable rules of the Nasdaq National Market or engraved such other national exchange or may be produced in any other manner as is reasonably acceptable to over-the-counter market on which the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of themPreferred Securities are then listed for trading.
Appears in 2 contracts
Samples: Trust Agreement (SVB Capital I), Trust Agreement (Silicon Valley Bancshares)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency notifies the Depositor that it is no longer willing or able to properly discharge its responsibilities with respect to continue as depositary for the Preferred Securities CertificatesCertificates and no successor Clearing Agency shall have been appointed, or if at any time the Clearing Agency ceases to be a clearing agency registered under the Exchange Act, at a time when the Clearing Agency is required to be so registered to act as such depositary, and the Depositor is unable to locate a qualified successorno successor depositary shall have been appointed, or (iib) the Depositor Depositor, in its sole discretion, determines that such Preferred Securities Certificates shall be so exchangeable, or (c) after there shall have occured and be continuing a Debenture Event of Default, Owners of Book-Entry Preferred Securities Certificates representing beneficial interests aggregating at its option advises least a majority of the Trustees Liquidation Amount advise the Property Trustee in writing that it elects to terminate the continuation of a book-entry system through the Clearing AgencyAgency is no longer in the best interest of the Owners of Preferred Securities Certificates, then then, in each case, the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and that Definitive Preferred SecuritiesSecurities Certificates will be distributed to such Owners in exchange for their beneficial interests in such Preferred Securities Certificate or Certificates. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing AgencyAgency and deliver the same to or upon the order of the Clearing Agency or an authorized representative thereof. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printedengraved and executed in accordance with the applicable rules of the American Stock Exchange or such other national exchange or over-the-counter market on which the Preferred Securities are then listed for trading. Thereafter, lithographed or engraved or may payments of Distributions (including Additional Amounts, if applicable) in respect of the Definitive Preferred Securities Certificates shall be produced in any other manner as is reasonably acceptable made by check mailed to the Administrative Trusteesaddress of the Person entitled thereto as such address shall appear on the Securities Register, as evidenced provided that payments will be made by wire transfer if requested by a holder of at least $1,000,000 aggregate Liquidation Amount of the execution thereof by the Administrative Trustees or any one of them.Preferred Securities
Appears in 1 contract
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be 27 35 produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
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Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial ownership interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
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Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or if at any time the Depositary ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, at a time when the Depositary is required to be so registered to act as such depositary, (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, or (c) after the occurrence of a Debenture Event of Default, owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interests of the owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency, and the Clearing Agency and Holders shall notify all Owners of Preferred Securities Certificates, of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.Securities
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Definitive Preferred Securities Certificates. If (i) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able properly to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (ii) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (iii) after the occurrence of an Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Clearing Agency shall notify all Owners of Preferred Securities Certificates and the Clearing Agency and Holders Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees by the Clearing Agency of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing AgencyCertificates, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as SecurityholdersSecurity- holders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
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Definitive Preferred Securities Certificates. If (i) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able properly to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (ii) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (iii) after the occurrence of an Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Clearing Agency shall notify all Owners of Preferred Securities Certificates and the Clearing Agency and Holders Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees by the Clearing Agency of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing AgencyCertificates, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate execute, by hand or by facsimile, the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof (by hand or by facsimile) by the Administrative Trustees or any one of them.
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Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities act as clearing agency with respect to the Preferred Securities Certificates, and the Depositor is unable fails to locate appoint a qualified successorsuccessor within 90 days, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount of the Outstanding Preferred Securities advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be fully protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
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Definitive Preferred Securities Certificates. If (i) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (ii) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, then the Administrative Trustees shall notify the Clearing Agency and Holders of the Preferred Securities. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing constituting the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
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Definitive Preferred Securities Certificates. If (i) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (ii) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-book- entry system through the Clearing Agency, then the Administrative Trustees shall notify the Clearing Agency and Holders of the Preferred Securities. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
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Samples: Trust Agreement (Alabama Power Co)
Definitive Preferred Securities Certificates. If (i) the Depositor Sponsor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor Sponsor is unable to locate a qualified successor, or (ii) the Depositor Sponsor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, then the Administrative Trustees shall notify the Clearing Agency and Holders of the Preferred Securities. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them shall execute and cause the Property Trustee to authenticate and deliver the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
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Samples: Declaration of Trust (Exelon Corp)
Definitive Preferred Securities Certificates. If (i) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able properly to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (ii) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (iii) after the occurrence of an Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Clearing Agency shall notify all Owners of Preferred Securities Certificates and the Clearing Agency and Holders Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof (by hand or by facsimile) by the Administrative Trustees or any one of them.
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Definitive Preferred Securities Certificates. If If
(ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) there shall have occurred and be continuing an Event of Default, then the an Administrative Trustees Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee or Registrar of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be fully protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as SecurityholdersHolders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 1 contract
Samples: Declaration of Trust (Provident Companies Inc /De/)
Definitive Preferred Securities Certificates. (a) If (i) the Depositor Sponsor advises the Trustees Administrators in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Global Preferred Securities Certificates, and the Depositor Sponsor is unable to locate a qualified successor, or (ii) the Depositor Sponsor at its option advises the Trustees Administrators in writing that it elects to terminate the book-entry system through the Clearing Agency, or (iii) after the occurrence of a Debenture Event of Default, upon written notice of the Majority Holders to the Administrators, then in each case the Administrative Trustees Administrators shall notify the Clearing Agency and Holders the Issuer Trustees, and the Clearing Agency, in accordance with its customary rules and procedures, shall notify all Clearing Agency Participants for whom it holds Preferred Securities of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of that class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Administrators of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Global Preferred Securities Certificates held by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Administrators, or any one of them them, shall execute execute, and authenticate the Property Trustee shall authenticate, the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar Registrar, the Administrators, nor the Issuer Trustees shall be liable for any delay in delivery of such those instructions and may conclusively rely on, and shall be protected in relying on, such those instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees Issuer Trust shall recognize the Holders of the Definitive Preferred Securities Certificates as SecurityholdersTrust Security holders. The Definitive Preferred Securities Certificates shall be typewritten, printed, lithographed lithographed, or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesAdministrators that meets the requirements of Delaware law and the rules of any stock exchange or automated quotation system on which the Preferred Securities are then listed or approved for trading, as evidenced by the execution thereof by the Administrative Trustees Administrators or any one of them.
(b) If any Global Preferred Securities Certificate is to be exchanged for Definitive Preferred Securities Certificates or cancelled in part, or if any other Preferred Securities Certificate is to be exchanged in whole or in part for Preferred Securities represented by a Global Preferred Securities Certificate, then either (i) that Global Preferred Securities Certificate shall be so surrendered for exchange or cancellation as provided in this Article 5 or (ii) the aggregate Liquidation Amount represented by that Global Preferred Securities Certificate shall be reduced or increased by an amount equal to the Liquidation Amount represented by that portion of the Global Preferred Securities Certificate to be so exchanged or cancelled, or equal to the Liquidation Amount represented by those Definitive Preferred Securities Certificates to be so exchanged for Global Preferred Securities represented thereby, as the case may be, by means of an appropriate adjustment made on the records of the Securities Registrar, whereupon the Property Trustee, in accordance with the Applicable Procedures, shall instruct the Clearing Agency or its authorized representative to make a corresponding adjustment to its records. Upon surrender to the Administrators or the Securities Registrar of the Global Preferred Securities Certificate or Certificates by the Clearing Agency, accompanied by registration instructions, the Administrators, or any one of them, shall execute the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. None of the Securities Registrar, the Issuer Trustees, or the Administrators shall be liable for any delay in delivery of those instructions and may conclusively rely on, and shall be protected in relying on, those instructions.
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Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or if at any time the Clearing Agency ceases to be a clearing agency registered under the Exchange Act, at a time when the Clearing Agency is required to be so registered to act as such Clearing Agency, (iib) the Depositor at its option sole discretion advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interests of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency, and the Clearing Agency and Holders shall notify all Owners of Preferred Securities Certificates of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
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Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
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Definitive Preferred Securities Certificates. If (ia) --------------------------------------------- the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities CertificatesCertificates or the Clearing Agency is no longer registered or in good standing under the Securities Exchange Act of 1934, as amended, or other applicable statute or regulation, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) an Event of Default occurs and is continuing, then the Administrative Trustees Trustee shall notify the Clearing Agency and Holders of the issue Definitive Preferred SecuritiesSecurities Certificates. Upon surrender to the Administrative Trustees Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them Trustee shall execute and authenticate deliver the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustee, as evidenced by the execution thereof by the Administrative Trustees or any one of themTrustee.
Appears in 1 contract
Samples: Trust Agreement (SJG Capital Trust)
Definitive Preferred Securities Certificates. If (i) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (ii) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-book- entry system through the Clearing Agency, then the Administrative Trustees shall notify the Clearing Agency and Holders of the Preferred Securities. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
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Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency notifies the Depositor that it is no longer willing or able to properly discharge its responsibilities with respect to continue as depositary for the Preferred Securities CertificatesCertificates and no successor Clearing Agency shall have been appointed, or if at any time the Clearing Agency ceases to be a clearing agency registered under the Exchange Act, at a time when the Clearing Agency is required to be so registered to act as such depositary, and the Depositor is unable to locate a qualified successorno successor depositary shall have been appointed, or (iib) the Depositor Depositor, in its sole discretion, determines that such Preferred Securities Certificates shall be so exchangeable, or (c) after there shall have occurred and be continuing a Debenture Event of Default, Owners of Book Entry Preferred Securities Certificates representing beneficial interests aggregating at its option advises least a majority of the Trustees Liquidation Amount advise the Property Trustee in writing that it elects to terminate the continuation of a book-entry system through the Clearing AgencyAgency is no longer in the best interest of the Owners of Preferred Securities Certificates, then then, in each case, the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event that Definitive Preferred SecuritiesSecurities Certificates will be distributed to such Owners in exchange for their beneficial interests in such Preferred Securities Certificate or Certificates. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them., shall execute the Definitive Preferred
Appears in 1 contract
Samples: Trust Agreement (American Coin Merchandising Trust Iv)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing willing, able or able eligible to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and a successor depositary is not appointed by the Depositor is unable to locate a qualified successorTrust within 90 days, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of at least a majority of the aggregate Liquidation Amount of the Preferred Securities advise the Administrative Trustees in writing that the continuation of a book- entry system through the Clearing Agency is no longer in the best interest of the Owners, then the Administrative Trustees shall notify the other Trustees and the Clearing Agency, and the Clearing Agency, in accordance with its customary rules and procedures, shall notify all Clearing Agency and Holders Participants for whom it holds Preferred Securities of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing AgencyAgency or, if executed on behalf of the Trust by facsimile, countersigned by a transfer agent or its agent. The Definitive Preferred Securities Certificates shall be authenticated by the Property Trustee by manual signature of an authorized signatory thereof. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be typewritten, printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustees that meets the requirements of any stock exchange or automated quotation system on which the Preferred Securities are then listed or approved for trading, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 1 contract
Definitive Preferred Securities Certificates. If (ia) the Depositor or the Clearing Agency advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or if at anytime the Clearing Agency ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, at a time when the Clearing Agency is required to be so registered to act as such depositary, (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Subordinated Note Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees shall notify other Trustees and the Clearing Agency, and the Clearing Agency, in accordance with its customary rules and procedures, shall notify all Clearing Agency and Holders Participants for whom it holds Preferred Securities of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing AgencyAgency or, if executed on behalf of the Trust by facsimile, countersigned by a transfer agent or its agent. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustees that meets the requirements of any stock exchange or automated quotation system on which the Preferred Securities are then listed or approved for trading, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 1 contract
Samples: Trust Agreement (Ingersoll Rand Co)
Definitive Preferred Securities Certificates. If Notwithstanding any other provision in this Declaration of Trust, no Global Securities Certificate may be exchanged in whole or in part for Definitive Preferred Securities Certificates unless (a) the Clearing Agency (i) notifies the Depositor advises the Trustees in writing Property Trustee that the Clearing Agency it is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities CertificatesSecurities, and the Depositor is unable to locate a qualified successor, successor or (ii) has ceased to be a clearing agency registered under the Exchange Act, (b) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) there shall have occurred and be continuing a Debenture Event of Default. In addition, then beneficial interests in a Global Preferred Security may be exchanged by or on behalf of the Clearing Agency for certificated Preferred Securities upon request by the Clearing Agency but only upon at least 20 days' prior written notice given to the Property Trustee in accordance with the Clearing Agency customary procedures. Upon the occurrence of the foregoing events, the Administrative Trustees Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Global Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be fully protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the manual or facsimile execution thereof by the Administrative Trustees or any one of them. If issued, the Definitive Preferred Securities Certificates will be subject to restrictions on transfer as set forth in Section 5.4.
Appears in 1 contract
Samples: Junior Subordinated Indenture (Republic New York Capital Iv)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 1 contract
Samples: Trust Agreement (Nevada Power Co)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no 31 26 longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 1 contract
Samples: Trust Agreement (Chase Capital Iii)
Definitive Preferred Securities Certificates. If (i) the Depositor advises the Administrative Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (ii) the Depositor at its option advises the Administrative Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, then the Administrative Trustees shall notify the Clearing Agency Agency, the Property Trustee and Holders of the Preferred Securities. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them shall execute and the Property Trustee shall authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.,
Appears in 1 contract
Samples: Trust Agreement (Mony Group Inc)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency notifies the Depositor that it is no longer willing or able to properly discharge its responsibilities with respect to continue as depositary for the Preferred Securities CertificatesCertificates and no successor Clearing Agency shall have been appointed, or if at any time the Clearing Agency ceases to be a clearing agency registered under the Exchange Act, at a time when the Clearing Agency is required to be so registered to act as such depositary, and the Depositor is unable to locate a qualified successorno successor depositary shall have been appointed, or (iib) the Depositor Depositor, in its sole discretion, determines that such Preferred Securities Certificates shall be so exchangeable, or (c) after there shall have occurred and be continuing a Debenture Event of Default, Owners of Book Entry Preferred Securities Certificates representing beneficial interests aggregating at its option advises least a majority of the Trustees Liquidation Amount advise the Property Trustee in writing that it elects to terminate the continuation of a book-entry system through the Clearing AgencyAgency is no longer in the best interest of the Owners of Preferred Securities Certificates, then then, in each case, the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event that Definitive Preferred SecuritiesSecurities Certificates will be distributed to such Owners in exchange for their beneficial interests in such Preferred Securities Certificate or Certificates. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing AgencyAgency and deliver the same to or upon the order of the Clearing Agency or an authorized representative thereof. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printedengraved and executed in accordance with the applicable rules of the American Stock Exchange or such other national exchange or over-the-counter market on which the Preferred Securities are then listed for trading. Thereafter, lithographed or engraved or may payments of Distributions (including Additional Amounts, if applicable) in respect of the Definitive Preferred Securities Certificates shall be produced in any other manner as is reasonably acceptable made by check mailed to the Administrative Trusteesaddress of the Person entitled thereto as such address shall appear on the Securities Register, as evidenced provided that payments will be made by wire transfer if requested by a holder of at least $1,000,000 aggregate Liquidation Amount of the execution thereof by the Administrative Trustees or any one of themPreferred Securities.
Appears in 1 contract
Samples: Trust Agreement (American Coin Merchandising Trust Iv)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or if at any time the Depositary ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, at a time when the Depositary is required to be so registered to act as such depositary, (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interests of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency, and the Clearing Agency and Holders shall notify all Owners of Preferred Securities Certificates, of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 1 contract
Definitive Preferred Securities Certificates. If (i) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (ii) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, then the Administrative Trustees shall notify the Clearing Agency and Holders of the Preferred Securities. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 1 contract
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency notifies the Depositor that it is no longer willing or able to properly discharge its responsibilities with respect to continue as depositary for the Preferred Securities CertificatesCertificates and no successor Clearing Agency shall have been appointed, or if at any time the Clearing Agency ceases to be a clearing agency registered under the Exchange Act at a time when the Clearing Agency is required to be so registered to act as depositary, and the Depositor is unable to locate a qualified successorno successor depositary shall have been appointed, or (iib) the Depositor Depositor, in its sole discretion, determines that such Preferred Securities Certificates shall be so exchangeable, or (c) after there shall have occurred and be continuing a Debenture Event of Default and Owners of Book-Entry Preferred Securities Certificates representing beneficial interests aggregating at its option advises least a majority of the Trustees Liquidation Amount advise the Property Trustee in writing that it elects to terminate the continuation of a book-entry system through the Clearing AgencyAgency is no longer in the best interest of the Owners of Preferred Securities Certificates, then then, in each case ((a), (b) or (c)), the Administrative Trustees Property Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and that the Definitive Preferred SecuritiesSecurities Certificates will be distributed to such Owners in exchange for their beneficial interests in such Preferred Securities Certificate(s). Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing AgencyAgency and deliver same to or upon the order of the Clearing Agency or authorized representative thereof. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printedengraved and executed in accordance with the applicable rules of the American Stock Exchange or such other national exchange or over-the-counter market on which the Preferred Securities are then listed for trading. Thereafter, lithographed or engraved or may payments of Distributions (including Additional Amounts, if applicable) in respect of the Definitive Preferred Securities shall be produced in any other manner as is reasonably acceptable made by check mailed to the Administrative Trusteesaddress of the Person entitled thereto as such address shall appear on the Securities Register, as evidenced provided that payments will be made by wire transfer if requested by a holder of at least $1,000,000 aggregate Liquidation Amount of the execution thereof by the Administrative Trustees or any one of themPreferred Securities.
Appears in 1 contract
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees,or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 1 contract
Definitive Preferred Securities Certificates. If If
(ia) the Depositor advises the Trustees in writing that the Clearing - Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises - the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of - Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar and Transfer Agent nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 1 contract
Samples: Trust Agreement (Hartford Financial Services Group Inc/De)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successorsuccessor within 90 days, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Note Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount of the Preferred Securities advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute on behalf of the Trust, and authenticate cause to be authenticated by the Property Trustee the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 1 contract
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Issuer Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Issuer Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees shall notify the other Issuer Trustees and the Clearing Agency, and the Clearing Agency, in accordance with its customary rules and procedures, shall notify all Clearing Agency and Holders Participants for whom it holds Preferred Securities of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency, if executed on behalf of the Issuer Trust by facsimile, countersigned by the Securities Registrar or its agent. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Issuer Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholdersholders of Trust Securities. The Definitive Preferred Securities Certificates shall be typewritten, printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustees that meets the requirements of any stock exchange or automated quotation system on which the Preferred Securities are then listed or approved for trading, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 1 contract
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority in Liquidation Amount of Preferred Securities then Outstanding advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees shall notify the other Trustees and the Clearing Agency, and the Clearing Agency, in accordance with its customary rules and procedures, shall notify all Clearing Agency and Holders Participants for whom it holds Preferred Securities of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency, if executed on behalf of the Trust by facsimile, countersigned by the Securities Registrar or its agent. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholdersholders of Trust Securities. The Definitive Preferred Securities Certificates shall be typewritten, printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustees that meets the requirements of any stock exchange or automated quotation system on which the Preferred Securities are then listed or approved for trading, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 1 contract
Samples: Trust Agreement (Visteon Corp)
Definitive Preferred Securities Certificates. If (i) the Depositor advises the Trustees in writing that the Clearing Agency notifies the Administrative Trustees that it is no longer willing unwilling or able unable to properly discharge its responsibilities continue as a depositary with respect to the Preferred Securities Certificates, Certificates and the Depositor is unable Administrative Trustees fail to locate appoint a qualified successorsuccessor depositary, or (ii) the Depositor at its option advises Clearing Agency has ceased to be a clearing agency registered under the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyExchange Act or (iii) there shall have occurred and be continuing an Event of Default, then the Administrative Trustees shall notify the Clearing Agency and Holders of the Preferred Securities. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
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Definitive Preferred Securities Certificates. If (i) -------------------------------------------- the Clearing Agency is no longer registered as a clearing agency under the Exchange Act or the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (ii) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-book- entry system through the Clearing AgencyAgency or (iii) there is an Event of Default, then the Administrative Trustees Clearing Agency shall notify all Owners of Book-Entry Interests and the Clearing Agency and Holders Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Global Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate cause the Definitive Preferred Securities Certificates to be delivered to the Owners in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
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Samples: Trust Agreement (Rouse Company)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Indenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustee(s) in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Trustee(s) shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Trustee(s) of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustee(s), or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustee(s), as evidenced by the execution thereof by the Administrative Trustees Trustee(s) or any one of them.
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Samples: Trust Agreement (FPC Capital Ii)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Indenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees shall notify other Trustees and the Clearing Agency, and the Clearing Agency, in accordance with its customary rules and procedures, shall notify all Clearing Agency and Holders Participants for whom it holds Preferred Securities of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing AgencyAgency or, if executed on behalf of the Trust by facsimile, countersigned by a transfer agent or its agent. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely onupon, and shall be protected in relying onupon, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be typewritten, printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustees that meets the requirements of any stock exchange or automated quotation system on which the Preferred Securities are then listed or approved for trading, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
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Definitive Preferred Securities Certificates. If either or both of Euroclear or Clearstream, Luxembourg (i) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate closed for business for a qualified successor, continuous period of 14 days (other than by reason of legal holidays) or (ii) the Depositor at its option advises the Trustees in writing that it elects announces an intention to terminate the book-entry system through the Clearing Agencypermanently cease business operations, then the Administrative Trustees shall notify the each Clearing Agency and Holders the other Trustees and each Clearing Agency shall notify all Owners of Preferred Securities Certificates of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees or the Paying Agents of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing AgencyCommon Depositary, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute execute, and authenticate the Authenticating Agent shall authenticate, the Definitive Preferred Securities Certificates in accordance with the instructions of the each Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be fully protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be typewritten, printed, lithographed or engraved or may be produced or reproduced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustees that meets the requirements of any stock exchange or automated quotation system on which the Preferred Securities are then listed or approved for trading, as evidenced by the execution thereof by the Administrative Trustees or any one of them. The Definitive Preferred Securities Certificates (and any Definitive Preferred Securities Certificates issued in exchange therefor or for any portion thereof) shall bear the legend required by Section 5.11(b).
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Definitive Preferred Securities Certificates. If (i) the Depositor elects and advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (ii) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (iii) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount of Preferred Securities advise the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees Clearing Agency shall notify all Owners of Preferred Securities Certificates and the Clearing Agency and Holders Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to such Owners requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Transfer Agent and Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 1 contract
Samples: Trust Agreement (Cleveland Electric Financing Trust I)
Definitive Preferred Securities Certificates. If (ia) the Depositor or the Clearing Agency advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or if at any time the Clearing Agency ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, at a time when the Clearing Agency is required to be so registered to act as such depositary, (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Subordinated Note Event of Default, Owners of Preferred Securities aggregating at least a majority of the aggregate Liquidation Amount of all Outstanding Preferred Securities advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities, then the Administrative Trustees shall notify other Trustees and the Clearing Agency, and the Clearing Agency, in accordance with its customary rules and procedures, shall notify all Clearing Agency and Holders Participants for whom it holds Preferred Securities of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute execute, and authenticate the Property Trustee shall authenticate, the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative TrusteesTrustees that meets the requirements of any stock exchange or automated quotation system on which the Preferred Securities are then listed or approved for trading, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
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Samples: Trust Agreement (Ingersoll Rand Co)
Definitive Preferred Securities Certificates. If (i) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (ii) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, then the Administrative Trustees shall notify the Clearing Agency and Holders of the Preferred Securities. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be fully protected in conclusively relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
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Definitive Preferred Securities Certificates. If (i) the Depositor advises the Administrative Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (ii) the Depositor at its option advises the Administrative Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, then the Administrative Trustees shall notify the Clearing Agency Agency, the Property Trustee and Holders of the Preferred Securities. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees or any one of them shall execute and the Property Trustee shall authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
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Samples: Trust Agreement (Mony Group Inc)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to discharge properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing Agency, or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Property Trustee in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interests of the Owners of Preferred Securities Certificates, then the Administrative Trustees Property Trustee shall notify the Clearing Agency, and the Clearing Agency and Holders shall notify all Owners of Preferred Securities Certificates, of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees Property Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.reasonably
Appears in 1 contract
Samples: Trust Agreement (Flagstar Trust)
Definitive Preferred Securities Certificates. If (ia) the Depositor advises the Trustees in writing that the Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) there shall have occurred and be continuing an Event of Default, then the an Administrative Trustees Trustee shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the other Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the an Administrative Trustees Trustee of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as SecurityholdersHolders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of them.
Appears in 1 contract
Samples: Trust Agreement (First Union Corp)
Definitive Preferred Securities Certificates. If (ia) the Depositor Clearing Agency advises the Trustees and the Company in writing that the Clearing Agency it is no longer willing or able to properly discharge its responsibilities with respect to the Preferred Securities Certificates, and the Depositor is unable to locate a qualified successor, or (iib) the Depositor at its option advises the Trustees in writing that it elects to terminate the book-entry system through the Clearing AgencyAgency or (c) after the occurrence of a Debenture Event of Default, Owners of Preferred Securities Certificates representing beneficial interests aggregating at least a majority of the Liquidation Amount advise the Administrative Trustees in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interest of the Owners of Preferred Securities Certificates, then the Administrative Trustees shall notify the Clearing Agency and Holders the Clearing Agency shall notify all Owners of Preferred Securities Certificates and the Trustees of the occurrence of any such event and of the availability of the Definitive Preferred SecuritiesSecurities Certificates to Owners of such class or classes, as applicable, requesting the same. Upon surrender to the Administrative Trustees of the typewritten Preferred Securities Certificate or Certificates representing the Book-Book Entry Preferred Securities Certificates by the Clearing Agency, accompanied by registration instructions, the Administrative Trustees Trustees, or any one of them them, shall execute and authenticate the Definitive Preferred Securities Certificates in accordance with the instructions of the Clearing Agency. Neither the Securities Registrar nor the Trustees shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Preferred Securities Certificates, the Trustees shall recognize the Holders of the Definitive Preferred Securities Certificates as Securityholders. The Definitive Preferred Securities Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Administrative Trustees, as evidenced by the execution thereof by the Administrative Trustees or any one of themthem and may have such letters, numbers or other marks of identification or designation and such legends or endorsements as the Administrative Trustees may deem appropriate, or as may be required to comply with any law or rule or regulation made pursuant thereto or with any rule or regulation of any stock exchange on which Preferred Securities may be listed, or to conform to usage.
Appears in 1 contract
Samples: Trust Agreement (Amerus Capital I)