Common use of DIRECT ACTION BY HOLDERS OF PREFERRED SECURITIES Clause in Contracts

DIRECT ACTION BY HOLDERS OF PREFERRED SECURITIES. Any registered holder of the Preferred Securities issued by the Trust shall have the right, upon the occurrence of an Event of Default described in Section 7.1(a)(i) or 7.1(a)(ii), to institute a suit directly against the Company for enforcement of payment to such holder of principal of and (subject to Sections 2.4 and 4.1) interest (including any Additional Interest) on the Debentures having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement) of such Preferred Securities held by such holder. The Company may not amend this Indenture to remove this right to institute a suit directly against the Company without the prior consent of the holders of all the Preferred Securities.

DIRECT ACTION BY HOLDERS OF PREFERRED SECURITIES. Any registered holder of the Preferred Securities issued by the Trust shall have the right, upon the occurrence of an Event of Default described in Section 7.1(a)(i) or 7.1(a)(ii), to institute a suit directly against the Company Corporation for enforcement of payment to such holder of principal of and (subject to Sections 2.4 and 4.1) interest (including any Additional Interest) on the Debentures having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement) of such Preferred Securities held by such holder. The Company Corporation may not amend this Indenture to remove this right to institute a suit directly against the Company Corporation without the prior consent of the holders of all the Preferred Securities.

DIRECT ACTION BY HOLDERS OF PREFERRED SECURITIES. Any registered holder of the Preferred Securities issued by the Trust shall have the right, upon the occurrence of an Event of Default described in Section 7.1(a)(iSECTION 7.1(A)(I) or 7.1(a)(ii7.1(A)(II), to institute a suit directly against the Company for enforcement of payment to such holder of principal of and (subject to Sections 2.4 SECTIONS 2.3 and 4.1) interest (including any Additional Interest) on the Debentures having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement) of such Preferred Securities held by such holder. The Company may not amend this Indenture to remove this right to institute a suit directly against the Company without the prior consent of the holders of all the Preferred Securities.

DIRECT ACTION BY HOLDERS OF PREFERRED SECURITIES. Any The provisions of Section 2.10 of this Indenture notwithstanding, any registered holder of the Preferred Securities issued by the Trust shall have the right, upon the occurrence of an Event of Default described in Section 7.1(a)(i) or 7.1(a)(ii), to institute a suit directly against the Company Corporation for enforcement of payment to such holder of principal of and (subject to Sections 2.4 and 4.1) interest (including any Additional Interest) on the Debentures having a principal amount equal to the aggregate Liquidation Amount (as defined in the Trust Agreement) of such Preferred Securities held by such holder. The Company Corporation may not amend this Indenture to remove this right to institute a suit directly against the Company Corporation without the prior written consent of the holders of all the Preferred Securities.