Common use of Distribution of Trust Assets Clause in Contracts

Distribution of Trust Assets. (a) On the business day immediately following the Effective Date (the “Distribution Date”) and after the Trustee delivers to the Company the proxy required by Section 3.1 of this Agreement, the Trustee shall release and distribute, directly or through one of its affiliates, to each Holder the number of Trust Shares such Holder is entitled to receive in accordance with the delivery instructions specified in the Letter of Transmittal submitted by such Holder. (b) On the Distribution Date or the date, if any, that this Agreement is terminated pursuant to Section 4.1(c), the Trustee shall distribute the Initial Cash Amount to the Company.

Appears in 2 contracts

Samples: Voting Trust Agreement (Midwest Banc Holdings Inc), Voting Trust Agreement (Citigroup Inc)

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Distribution of Trust Assets. (a) On the business day immediately following the Effective Date (the “Distribution Date”) and after the Trustee delivers to the Company the proxy proxies required by Section 3.1 of this Agreement, the Trustee shall release and distribute, directly or through one of its affiliates, to each Holder the number of Trust Shares such Holder is entitled to receive in accordance with the delivery instructions specified in the Letter of Transmittal submitted by such Holder. (b) On Promptly following the Distribution Date or approval of the date, if any, that this Agreement is terminated pursuant to Section 4.1(c)Common Stock Amendment by the requisite vote of the holders of the Company’s Common Stock, the Trustee shall distribute the Initial Cash Amount to the Company.

Appears in 1 contract

Samples: Voting Trust Agreement (Citigroup Inc)

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