Common use of ESTABLISHMENT OF TREASURY PEPS UNITS Clause in Contracts

ESTABLISHMENT OF TREASURY PEPS UNITS. (a) So long as no Tax Event Redemption shall have occurred, and the Trust shall not have been dissolved and liquidated, at any time prior to or on the seventh Business Day immediately preceding August 18, 2003, a Holder of PEPS Units shall have the right to establish or reestablish Treasury PEPS Units by substitution of Treasury Securities or security entitlements with respect thereto for the Pledged Preferred Securities comprising a part of such Holder's PEPS Units in integral multiples of 40 PEPS Units by:

Appears in 1 contract

Samples: Pledge Agreement (Valero Energy Corp/Tx)

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ESTABLISHMENT OF TREASURY PEPS UNITS. (a) So long as no Tax Event Redemption shall have occurred, and the Trust shall not have been dissolved and liquidated, at any time prior to or on the seventh Business Day immediately preceding August 18__________________, 2003200__, a Holder of PEPS Units shall have the right to establish or reestablish Treasury PEPS Units by substitution of Treasury Securities or security entitlements with respect thereto for the Pledged Preferred Securities comprising a part of such Holder's PEPS Units in integral multiples of 40 [40] PEPS Units by:

Appears in 1 contract

Samples: Pledge Agreement (Valero Energy Corp/Tx)

ESTABLISHMENT OF TREASURY PEPS UNITS. (a) So long as no Tax Event Redemption shall have occurred, and the Trust shall not have been dissolved and liquidated, at any time prior to or on the seventh Business Day immediately preceding August 18November 16, 20032002, a Holder of PEPS Units shall have the right to establish or reestablish Treasury PEPS Units by substitution of Treasury Securities or security entitlements with respect thereto for the Pledged Preferred Securities comprising a part of such Holder's PEPS Units in integral multiples of 40 PEPS Units by:

Appears in 1 contract

Samples: Pledge Agreement (Ucu Capital Trust I)

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ESTABLISHMENT OF TREASURY PEPS UNITS. (a) So long as no Tax Event Redemption shall have occurred, occurred and the Trust shall not have been dissolved and liquidated, at any time prior to or on the seventh Business Day immediately preceding August 18, 2003, a Holder of PEPS Units shall have the right to establish or reestablish Treasury PEPS Units by substitution of Treasury Securities or security entitlements with respect thereto for the Pledged Preferred Securities comprising a part of such Holder's PEPS Units in integral multiples of 40 PEPS Units by:

Appears in 1 contract

Samples: Pledge Agreement (CMS Energy Corp)

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