Common use of Exchange of Trust Securities for Debentures Clause in Contracts

Exchange of Trust Securities for Debentures. (a) At any time, the Company shall have the right to dissolve the Trust and cause the Debentures to be distributed to the holders of the Preferred Securities in dissolution of the Trust after satisfaction of liabilities to creditors of the Trust as provided by applicable law. (b) If a Special Event in respect of the Trust shall occur and be continuing, the Company shall give the Property Trustee notice of the same. If a Special Event in respect of the Trust shall occur and be continuing, the Trust Agreement requires the Property Trustee to direct the Conversion Agent (as defined in the Trust Agreement) to exchange all outstanding Trust Securities for the Debentures having a principal amount equal to the aggregate liquidation amount of the Trust Securities to be exchanged with accrued interest in an amount equal to any unpaid distributions (including any Additional Amounts, if any) on the Trust Securities; provided that, in the case of a Tax Event that shall have occurred and be continuing, the Company shall have the right to direct the Property Trustee that less than all, or none, of the Trust Securities be so exchanged (i) if and for so long as the Company shall have elected to pay any Additional Sums such that the amounts received by holders of the Trust Securities that remain outstanding are not reduced as a result of such Tax Event, and shall not have revoked any such election or failed to make such payments or (ii) if the Company shall instead elect to redeem the Debentures, in whole or in part, in the manner set forth in Section 11.8.

Exchange of Trust Securities for Debentures. (a) At any time, the Company shall have the right to dissolve the Trust and cause the Debentures to be distributed to the holders of the Preferred Securities in dissolution of the Trust after satisfaction of liabilities to creditors of the Trust as provided by applicable law. (b) If a Special Event in respect of the Trust shall occur and be continuing, the Company shall give the Property Trustee notice of the same. If a Special Event in respect of the Trust shall occur and be continuing, the Trust Agreement requires the Property Trustee to direct the Conversion Agent (as defined in the Trust Agreement) to exchange all outstanding Trust Securities for the Debentures having a principal amount equal to the aggregate liquidation amount of the Trust Securities to be exchanged with accrued interest in an amount equal to any unpaid distributions (including any Additional Amounts, if any) on the Trust Securities; provided Securities PROVIDED that, in the case of a Tax Event that shall have occurred and be continuing, the Company shall have the right to direct the Property Trustee that less than all, or none, of the Trust Securities be so exchanged (i) if and for so long as the Company shall have elected to pay any Additional Sums such that the amounts received by holders of the Trust Securities that remain outstanding are not reduced as a result of such Tax Event, and shall not have revoked any such election or failed to make such payments or (ii) if the Company shall instead elect to redeem the Debentures, in whole or in part, in the manner set forth in Section 11.8.

Exchange of Trust Securities for Debentures. (a) At any time, the Company shall have the right to dissolve terminate the Trust and cause the 1998A Debentures to be distributed to the holders of the Preferred Trust Securities in dissolution liquidation of the Trust after satisfaction of liabilities to creditors of the Trust as provided by applicable law. (b) If a Trust Special Event in respect of the Trust shall occur and be continuingoccur, the Company shall give the Property Trustee notice of the same. If a Trust Special Event in respect of the Trust shall occur and be continuing, the Trust Agreement Declaration requires the Property Trustee and the Administrative Trustees (as defined in the Declaration) under the Declaration to direct the Conversion Agent (as defined in under the Trust Agreement) Declaration to exchange all outstanding Trust Securities for the 1998A Debentures having a an aggregate unpaid principal amount equal to the aggregate liquidation amount Liquidation Amount of the Trust Securities to be exchanged with accrued and unpaid interest in an amount equal to any unpaid distributions (including any Additional Amounts, if anyAmounts (as defined in the Declaration)) on the Trust Securities; , provided that, in the case of a Trust Tax Event that shall have occurred and be continuingEvent, the Company shall have the right to direct the Property Trustee Conversion Agent that less than all, or none, of the Trust Securities be so exchanged (i) if and for so long as the Company shall have elected to pay any Additional Sums (as defined in the Declaration) such that the net amounts received by holders of the Trust Securities that remain outstanding not so exchanged in respect of distributions are not reduced as a result of such Trust Tax Event, and shall not have revoked any such election or failed to make such payments or (ii) if the Company shall instead elect to redeem the 1998A Debentures, in whole or in part, in the manner set forth in Section 11.85.2.

Exchange of Trust Securities for Debentures. (a) At any time, the Company shall have the right to dissolve the Trust and cause the Debentures to be distributed to the holders of the Preferred Securities in dissolution of the Trust after satisfaction of liabilities to creditors of the Trust as provided by applicable law. (b) If a Special Event in respect of the Trust shall occur and be continuing, the Company shall give the Property Trustee notice of the same. If a Special Event in respect of the Trust shall occur and be continuing, the Trust Agreement Declaration requires the Property Trustee to direct the Conversion Agent (as defined in the Trust AgreementDeclaration) to exchange all outstanding Trust Securities for the Debentures having a principal amount equal to the aggregate liquidation amount of the Trust Securities to be exchanged with accrued interest in an amount equal to any unpaid distributions (including any Additional Amounts, if any) on the Trust Securities; provided Securities PROVIDED that, in the case of a Tax Event that shall have occurred and be continuing, the Company shall have the right to direct the Property Trustee that less than all, or none, of the Trust Securities be so exchanged (i) if and for so long as the Company shall have elected to pay any Additional Sums such that the amounts received by holders of the Trust Securities that remain outstanding are not reduced as a result of such Tax Event, and shall not have revoked any such election or failed to make such payments or (ii) if the Company shall instead elect to redeem the Debentures, in whole or in part, in the manner set forth in Section 11.8.

Exchange of Trust Securities for Debentures. (a) At any time, the Company shall have the right to dissolve the Trust and cause the Debentures to be distributed to the holders of the Preferred Securities in dissolution of the Trust after satisfaction of liabilities to creditors of the Trust as provided by applicable law. (b) If a Special Event in respect of the Trust shall occur and be continuing, the Company shall give the Property Trustee notice of the same. If a Special Event in respect of the Trust shall occur and be continuing, the Trust Agreement requires the Property Trustee to direct the Conversion Agent (as defined in the Trust Agreement) to exchange all outstanding Trust Securities for the Debentures having a principal amount equal to the aggregate liquidation amount of the Trust Securities to be exchanged with accrued interest in an amount equal to any unpaid distributions (including any Additional Amounts, if any) on the Trust Securities; Securities provided that, in the case of a Tax Event that shall have occurred and be continuing, the Company shall have the right to direct the Property Trustee that less than all, or none, of the Trust Securities be so exchanged (i) if and for so long as the Company shall -64- 72 have elected to pay any Additional Sums such that the amounts received by holders of the Trust Securities that remain outstanding are not reduced as a result of such Tax Event, and shall not have revoked any such election or failed to make such payments or (ii) if the Company shall instead elect to redeem the Debentures, in whole or in part, in the manner set forth in Section 11.8.

Exchange of Trust Securities for Debentures. (a) At any ------------------------------------------- time, the Company shall have the right to dissolve terminate the Trust and cause the Debentures to be distributed to the holders of the Preferred Securities in dissolution liquidation of the Trust after satisfaction of liabilities to creditors of the Trust as provided by applicable law. (b) If a Special Event in respect of the Trust shall occur and be continuingoccur, the Company shall give the Property Trustee notice of the same. If a Special Event in respect of the Trust shall occur and be continuing, the Trust Agreement requires the Property Trustee to direct the Conversion Agent (as defined in the Trust Agreement) to exchange all outstanding Trust Securities for the Debentures having a principal amount equal to the aggregate liquidation amount of the Trust Securities to be exchanged with accrued interest in an amount equal to any unpaid distributions (including any Additional Amounts, if any) on the Trust Securities; Securities provided that, in the case of a Tax Event that shall have occurred and be continuingEvent, the Company shall have the right to -------- direct the Property Trustee that less than all, or none, none of the Trust Securities be so exchanged (i) if and for so long as the Company shall have elected to pay any Additional Sums such that the net amounts received by holders of the Trust Securities that remain outstanding not so exchanged in respect of distributions are not reduced as a result of such Tax Event, and shall not have revoked any such election or failed to make such payments or (ii) if the Company shall instead elect to redeem the Debentures, in whole or in part, in the manner set forth in Section 11.8.]

Exchange of Trust Securities for Debentures. (a) At any time, the Company shall have the right to dissolve the Trust and cause the Debentures to be distributed to the holders of the Preferred Securities in dissolution liquidation of the Trust after satisfaction of liabilities to creditors of the Trust as provided by applicable law. (b) If a Special Event in respect of the Trust shall occur and be continuingoccur, the Company shall give the Property Trustee notice of the same. If a Special Event in respect of the Trust shall occur and be continuing, the Trust Agreement requires the Property Trustee to direct the Conversion Agent (as defined in the Trust Agreement) to exchange all outstanding Trust Securities for the Debentures having a principal amount equal to the aggregate liquidation amount of the Trust Securities to be exchanged with accrued interest in an amount equal to any unpaid distributions (including any Additional Amounts, if any) on the Trust Securities; provided provided, that, in the -------- ---- case of a Tax Event that shall have occurred and be continuingEvent, the Company shall have the right to direct the Property Trustee that less than all, or none, none of the Trust Securities be so exchanged (i) if and for so long as the Company shall have elected to pay any Additional Sums such that the net amounts received by holders of the Trust Securities that remain outstanding not so exchanged in respect of distributions are not reduced as a result of such Tax Event, and shall not have revoked any such election or failed to make such payments or (ii) if the Company shall instead elect to redeem the Debentures, in whole or in part, in the manner set forth in Section 11.8.

Exchange of Trust Securities for Debentures. (a) At any time, the Company shall have the right to dissolve terminate the Trust and cause the Debentures to be distributed to the holders of the Preferred Securities in dissolution liquidation of the Trust after satisfaction of liabilities to creditors of the Trust as provided by applicable law. (b) If a Special Event in respect of the Trust shall occur and be continuingoccur, the Company shall give the Property Trustee notice of the same. If a Special Event in respect of the Trust shall occur and be continuing, the Trust Agreement requires the Property Trustee to direct the Conversion Agent (as defined in the Trust Agreement) to exchange all outstanding Trust Securities for the Debentures having a principal amount equal to the aggregate liquidation amount of the Trust Securities to be exchanged with accrued interest in an amount equal to any unpaid distributions (including any Additional Amounts, if any) on the Trust Securities; Securities provided that, in the case of a Tax Event that shall have occurred and be continuingEvent, the Company shall have the right to -------- direct the Property Trustee that less than all, or none, none of the Trust Securities be so exchanged (i) if and for so long as the Company shall have elected to pay any Additional Sums such that the net amounts received by holders of the Trust Securities that remain outstanding not so exchanged in respect of distributions are not reduced as a result of such Tax Event, and shall not have revoked any such election or failed to make such payments or (ii) if the Company shall instead elect to redeem the Debentures, in whole or in part, in the manner set forth in Section 11.8.

Exchange of Trust Securities for Debentures. (a) At any time, the Company shall have the right to dissolve terminate the Trust and cause the Debentures to be distributed to the holders of the Preferred Securities in dissolution liquidation of the Trust after satisfaction of liabilities to creditors of the Trust as provided by applicable law. (b) If a Special Event in respect of the Trust shall occur and be continuingoccur, the Company shall give the Property Trustee notice of the same. If a Special Event in respect of the Trust shall occur and be continuing, the Trust Agreement requires the Property Trustee to direct the Conversion Agent (as defined in the Trust Agreement) to exchange all outstanding Trust Securities for the Debentures having a principal amount equal to the aggregate liquidation amount of the Trust Securities to be exchanged with accrued interest in an amount equal to any unpaid distributions (including any Additional Amounts, if any) on the Trust Securities; Securities provided that, in the case of a Tax Event that shall have occurred and be continuingEvent, the Company shall have the right to direct the Property Trustee that less than all, or none, none of the Trust Securities be so exchanged (i) if and for so long as the Company shall have elected to pay any Additional Sums such that the net amounts received by holders of the Trust Securities that remain outstanding not so exchanged in respect of distributions are not reduced as a result of such Tax Event, and shall not have revoked any such election or failed to make such payments or (ii) if the Company shall instead elect to redeem the Debentures, in whole or in part, in the manner set forth in Section 11.8.

Exchange of Trust Securities for Debentures. (a) At any time, the Company shall have the right to dissolve the Series A Trust and cause the Series A Debentures to be distributed to the holders of the Preferred Securities in dissolution liquidation of the Series A Trust after satisfaction of liabilities to creditors of the Series A Trust as provided by applicable law. (b) If a Special Event in respect of the Series A Trust shall occur and be continuing, the Company shall give the Property Trustee notice of the same. If a Special Event in respect of the Series A Trust shall occur and be continuing, the Trust Agreement requires the Property Trustee to direct the Conversion Agent (as defined in the Trust Agreement) to exchange all outstanding Series A Trust Securities for the Series A Debentures having a principal amount equal to the aggregate liquidation amount of the Series A Trust Securities to be exchanged with accrued interest in an amount equal to any unpaid distributions (including any Additional Amounts, if any) on the Series A Trust Securities; Securities provided that, in the case of a Tax Event that shall have occurred and be continuing, the Company shall have the right to direct the Property Trustee that less than all, or none, of the Series A Trust Securities be so exchanged (i) if and for so long as the Company shall have elected to pay any Additional Sums such that the amounts received by holders of the Series A Trust Securities that remain outstanding are not reduced as a result of such Tax Event, and shall not have revoked any such election or failed to make such payments or (ii) if the Company shall instead elect to redeem the Series A Debentures, in whole or in part, in the manner set forth in Section 11.82.4.

Exchange of Trust Securities for Debentures. (a) At any time, the Company shall have the right to dissolve the Trust and cause the Debentures to be distributed to the holders of the Preferred Securities in dissolution of the Trust after satisfaction of liabilities to creditors of the Trust as provided by applicable law. (b) If a Special Event in respect of the Trust shall occur and be continuing, the Company shall give the Property Trustee notice of the same. If a Special Event in respect of the Trust shall occur and be continuing, the Trust Agreement requires the Property Trustee to direct the Conversion Agent (as defined in the Trust Agreement) to exchange all outstanding Trust Securities for the Debentures having a principal amount equal to the aggregate liquidation amount of the Trust Securities to be exchanged with accrued interest in an amount equal to any unpaid distributions (including any Additional Amounts, if any) on the Trust Securities; Securities provided that, in the case of a Tax Event that shall have occurred and be continuing, the Company shall have the right to direct the Property Trustee that less than all, or none, of the Trust Securities be so exchanged (i) if and for so long as the Company shall have elected to pay any Additional Sums such that the amounts received by holders of the Trust Securities that remain outstanding are not reduced as a result of such Tax Event, and shall not have revoked any such election or failed to make such payments or (ii) if the Company shall instead elect to redeem the Debentures, in whole or in part, in the manner set forth in Section 11.8.