ICON Issuer’s Receipt of Common Securities. On the Closing Date, the ICON Issuer will receive all of the Common Securities issued by the Trust and on the same date shall invest the gross proceeds thereof in the ICONs to be issued to the Trust by the ICON Issuer. The Common Securities will be issued in a total liquidation amount of $1,000,000. Subject to Section 7.4(b), the aggregate stated liquidation amount of Common Securities outstanding at any time shall not be less than $1,000,000.
Appears in 6 contracts
Samples: Trust Agreement (Merrill Lynch Capital Trust I), Trust Agreement (Merrill Lynch Capital Trust III), Trust Agreement (Merrill Lynch & Co Inc)
ICON Issuer’s Receipt of Common Securities. On the Closing Date, the ICON Issuer will receive all of the Common Securities issued by the Trust and on the same date shall invest the gross proceeds thereof in the exchange for ICONs to be issued to the Trust by the ICON Issuer. The Common Securities will be issued in a total liquidation amount of $1,000,000. Subject to Section 7.4(b), the The aggregate stated liquidation amount of Common Securities outstanding at any time shall not be less than $1,000,000.
Appears in 3 contracts
Samples: Trust Agreement (Us Bancorp \De\), Trust Agreement (Us Bancorp \De\), Trust Agreement (Us Bancorp \De\)
ICON Issuer’s Receipt of Common Securities. On the Closing Date, the ICON Issuer will receive all of the Common Securities issued by the Trust and on the same date shall invest the gross proceeds thereof in the exchange for ICONs to be issued to the Trust by the ICON Issuer. The Common Securities will be issued in a total liquidation an amount equal to at least 3% of $1,000,000the capital of the Trust. Subject to Section 7.4(b), the The aggregate stated liquidation amount of Common Securities outstanding at any time shall not be less than $1,000,0003% of the capital of the Trust.
Appears in 1 contract
Samples: Trust Agreement (Us Bancorp \De\)
