Common use of Distributions in Liquidation Clause in Contracts

Distributions in Liquidation. Upon receipt by the Trustee of any distribution from the Grantor upon the liquidation of the Grantor or any payment under the Guarantee in respect thereof, after satisfaction of creditors of the Trust required by applicable law, the Trustee shall distribute to Holders of Receipts on the record date therefor, such amounts in proportion to the respective number of Preferred Securities which were represented by the Receipts held by such Holders.

Distributions in Liquidation. Upon receipt by the Trustee of any distribution from the Grantor upon the liquidation of the Grantor or any payment under the Guarantee in respect thereof, after satisfaction of creditors of the Trust required by applicable law, the Trustee shall distribute to record Holders of Receipts on the record date therefor, such amounts in proportion to the respective number of Preferred Securities which were represented by the Receipts held by such Holders.

Distributions in Liquidation. Upon receipt by the Trustee of any distribution from the Grantor upon the liquidation of the Grantor or any payment under the Guarantee in respect thereof, after satisfaction of creditors of the Trust required by applicable law, the Trustee shall distribute to Holders of Receipts Capital Securities on the record date therefor, such amounts in proportion to the respective number of Preferred Securities which were represented by the Receipts Capital Securities held by such Holders.

Distributions in Liquidation. Upon receipt by the Property Trustee of any distribution from the Grantor Grantor, or otherwise upon the liquidation of the Grantor Grantor, or any payment under the Guarantee in respect thereof, after satisfaction of creditors of the Trust required by applicable law, the Property Trustee shall distribute to Holders of Receipts on Trust Securities as of the record date therefor, such amounts in proportion to the respective number of Preferred Securities which were represented by the Receipts Trust Securities held by such Holders.

Distributions in Liquidation. Upon receipt by the Trustee Trust of any distribution from the Grantor Grantor, or otherwise upon the liquidation of the Grantor Grantor, or any payment under the Guarantee in respect thereof, after satisfaction of creditors of the Trust required by applicable law, the Property Trustee shall distribute to Holders of Receipts on Trust Securities as of the record date therefor, such amounts the Trust Estate in kind in proportion to the respective number of Preferred Securities which were represented by the Receipts Trust Securities held by such Holders.

Distributions in Liquidation. Upon receipt by the Trustee Trust of any distribution from the Grantor Grantor, or otherwise upon the liquidation of the Grantor Grantor, or any payment under the Guarantee in respect thereof, after satisfaction of creditors of the Trust required by applicable law, the Property Trustee shall distribute to Holders of Receipts on Trust Securities as of the record date therefor, such amounts the Trust Estate in proportion to the respective number of Preferred Securities which were represented by the Receipts Trust Securities held by such Holders.