General Provisions Regarding Securities. (a) The Administrative Trustees shall on behalf of the Trust issue one class of preferred securities representing undivided beneficial interests in the assets of the Trust having such terms as are set forth in Annex I (the "Preferred Securities") and one class of common securities representing undivided beneficial interests in the assets of the Trust having such terms as are set forth in Annex I (the "Common Securities"). The Trust shall issue no securities or other interests in the assets of the Trust other than the Preferred Securities and the Common Securities. (b) The consideration received by the Trust for the issuance of the Securities shall constitute a contribution to the capital of the Trust and shall not constitute a loan to the Trust. (c) Upon issuance of the Securities as provided in this Agreement, the Securities so issued shall be validly issued, fully paid and non-assessable. (d) Every Person, by virtue of having become a Holder or a Preferred Security Beneficial Owner in accordance with the terms of this Agreement, shall be deemed to have expressly assented and agreed to the terms of, and shall be bound by, this Agreement.
Appears in 6 contracts
Samples: Trust Agreement (Hercules Inc), Trust Agreement (Cox Trust Ii), Trust Agreement (Hercules Inc)
General Provisions Regarding Securities. (a) The Administrative Trustees shall on behalf of the Trust issue one class of preferred capital securities representing undivided preferred beneficial interests in the assets of the Trust having such terms as are set forth in Annex I (the “Capital Securities”) and one class of common securities representing common undivided beneficial interests in the assets of the Trust having such terms as are set forth in Annex I (the "Preferred Securities") and one class of common securities representing undivided beneficial interests in the assets of the Trust having such terms as are set forth in Annex I (the "“Common Securities"”). The Trust shall issue no securities or other interests in the assets of the Trust other than the Preferred Capital Securities and the Common Securities.
(b) The consideration received by the Trust for the issuance of the Securities shall constitute a contribution to the capital of the Trust and shall not constitute a loan to the Trust.
(c) Upon issuance of the Securities as provided in this Trust Agreement, the Securities so issued shall be deemed to be validly issued, fully paid and non-assessable.
(d) Every Person, by virtue of having become a Holder or a Preferred Capital Security Beneficial Owner in accordance with the terms of this Trust Agreement, shall be deemed to have expressly assented and agreed to the terms of, and shall be bound by, this Trust Agreement.
Appears in 4 contracts
Samples: Trust Agreement (Webster Capital Trust VII), Trust Agreement (Webster Capital Trust Vi), Trust Agreement (Webster Capital Trust Vi)
General Provisions Regarding Securities. (a) The Administrative Trustees shall on behalf of the Trust issue one class of preferred capital securities representing undivided preferred beneficial interests in the assets of the Trust having such terms as are set forth in Annex I (the "Preferred Capital Securities") and one class of common securities representing common undivided beneficial interests in the assets of the Trust having such terms as are set forth in Annex I (the "Common Securities"). The Trust shall issue no securities or other interests in the assets of the Trust other than the Preferred Capital Securities and the Common Securities.
(b) The consideration received by the Trust for the issuance of the Securities shall constitute a contribution to the capital of the Trust and shall not constitute a loan to the Trust.
(c) Upon issuance of the Securities as provided in this Trust Agreement, the Securities so issued shall be deemed to be validly issued, fully paid and non-assessable.
(d) Every Person, by virtue of having become a Holder or a Preferred Capital Security Beneficial Owner in accordance with the terms of this Trust Agreement, shall be deemed to have expressly assented and agreed to the terms of, and shall be bound by, this Trust Agreement.
Appears in 3 contracts
Samples: Trust Agreement (Webster Financial Corp), Trust Agreement (Webster Financial Corp), Trust Agreement (Webster Financial Corp)
General Provisions Regarding Securities. (a) The Administrative Trustees shall on behalf of the Trust issue one class of preferred securities representing undivided beneficial interests in the assets of the Trust having such terms as are set forth in Annex I (the "Trust Preferred Securities") and one class of common securities representing undivided beneficial interests in the assets of the Trust having such terms as are set forth in Annex I (the "Common Securities"). The Trust shall issue no securities or other interests in the assets of the Trust other than the Preferred Securities and the Common Securities.
(b) The consideration received by the Trust for the issuance of the Securities shall constitute a contribution to the capital of the Trust and shall not constitute a loan to the Trust.
(c) Upon issuance of the Securities as provided in this Agreement, the Securities so issued shall be deemed to be validly issued, fully paid and non-assessableassessable undivided beneficial interests in the assets of the Trust.
(d) Every Person, by virtue of having become a Holder or a Trust Preferred Security Beneficial Owner in accordance with the terms of this Agreement, shall be deemed to have expressly assented and agreed to the terms of, and shall be bound by, this Agreement.
Appears in 2 contracts
Samples: Trust Agreement (Agl Capital Trust Ii), Trust Agreement (Agl Capital Trust Iii)
General Provisions Regarding Securities. (a) The Administrative Regular Trustees shall on behalf of the Trust issue one class of preferred securities securities, representing undivided beneficial interests in the assets of the Trust (the "Preferred Securities"), having such terms (the "Terms") as are set forth in Annex I (the "Preferred Securities") and one class of common securities securities, representing undivided beneficial interests in the assets of the Trust (the "Common Securities"), having such terms as are set forth in Annex I (the "Common Securities"). I. The Trust shall issue have no securities or other interests in the assets of the Trust other than the Preferred Securities and the Common Securities. The Trust shall issue no Securities in bearer form.
(b) The consideration received by the Trust for the issuance of the Securities shall constitute a contribution to the capital of the Trust and shall not constitute a loan to the Trust.
(c) Upon issuance of the Securities as provided in this AgreementDeclaration, the Securities so issued shall be deemed to be validly issued, fully paid and non-non- assessable, subject to Section
10.01 with respect to the Common Securities.
(d) Every Person, by virtue of having become a Holder or a Preferred Security Beneficial Owner in accordance with the terms of this AgreementDeclaration, shall be deemed to have expressly assented and agreed to the terms of, and shall be bound by, this AgreementDeclaration.
Appears in 1 contract
General Provisions Regarding Securities. (a) The Administrative Trustees shall on behalf of the Trust issue one class of preferred capital securities representing undivided beneficial interests in the assets of the Trust having such terms as are set forth in Annex I (the "Preferred Securities") and one class of common securities representing undivided beneficial interests in the assets of the Trust having such terms as are set forth in Annex I (the "Common Securities"). The Trust shall issue no securities or other interests in the assets of the Trust other than the Preferred Securities and the Common Trust Securities.
(b) The consideration received by the Trust for the issuance of the Securities shall constitute a contribution to the capital of the Trust and shall not constitute a loan to the Trust.
(c) Upon issuance of the Securities as provided in this AgreementDeclaration, the Securities so issued shall be deemed to be validly issued, fully paid and non-assessableassessable undivided beneficial interests in the assets of the Trust.
(d) Every Person, by virtue of having become a Holder or a Preferred Security Beneficial Owner in accordance with the terms of this AgreementDeclaration, shall be deemed to have expressly assented and agreed to the terms of, and shall be bound by, this AgreementDeclaration and the terms of the Securities, the Preferred Securities Guarantee, the Indenture and the Debentures.
Appears in 1 contract
Samples: Declaration of Trust (Sandy Spring Capital Trust I)