Common use of GENERAL PROVISIONS REGARDING THE STRYPES Clause in Contracts

GENERAL PROVISIONS REGARDING THE STRYPES. (A) The consideration received by the Trust for the issuance of the STRYPES shall constitute a contribution to the capital of the Trust and shall not constitute a loan to the Trust. (B) Upon issuance of the STRYPES as provided in this Trust Agreement, the STRYPES so issued shall be deemed to be validly issued, fully paid and non-assessable. (C) Every person, by virtue of having become a Holder 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 (WBK Strypes Trust), Trust Agreement (Nextel Strypes Trust), Trust Agreement (Xyz Strypes Trust)

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GENERAL PROVISIONS REGARDING THE STRYPES. (A) The consideration received by the Trust for the issuance of the STRYPES shall constitute a contribution to the capital of the Trust and shall not constitute a loan to the Trust. (B) Upon issuance of the STRYPES as provided in this Trust Agreement, the STRYPES so issued shall be deemed to be validly issued, fully paid and non-non- assessable. (C) Every person, by virtue of having become a Holder 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 1 contract

Samples: Trust Agreement (Snyder Strypes Trust)

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GENERAL PROVISIONS REGARDING THE STRYPES. (A) The consideration received by the Trust for the issuance of the STRYPES shall constitute a contribution to the capital of the Trust and shall not constitute a loan to the Trust. (B) Upon issuance of the STRYPES as provided in this Trust Agreement, the STRYPES so issued shall be deemed to be validly issued, fully paid and non-assessable. The issuance of the STRYPES will not be subject to preemptive or other similar rights. (C) Every person, by virtue of having become a Holder 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 1 contract

Samples: Trust Agreement (Dollar General Strypes Trust)

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