Common use of Issuance of the Common Securities; Subscription and Purchase of Debentures Clause in Contracts

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) At the Closing Time, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of _________ Common Securities having an aggregate Liquidation Amount of $_________, against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Debentures, registered in the name of the Trust and having an aggregate principal amount equal to $___________, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer the sum of $__________. On each Date of Delivery, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of up to __________ Common Securities (less such number of Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery) having an aggregate Liquidation Amount of up to $__________ (less the aggregate Liquidation Amount of any Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery), against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. (b) At the Closing Time and on each Date of Delivery, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Debentures, registered in the name of the Trust and having an aggregate principal amount equal to the aggregate Liquidation Amount of the Preferred Securities and Common Securities issued and sold on such date, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer the amount received on such date from one of the Administrative Trustees pursuant to the last sentence of Section 2.4.

Appears in 4 contracts

Samples: Trust Agreement (Ace Ina Holdings Inc), Trust Agreement (Ace Ina Holdings Inc), Trust Agreement (Ace Ina Holdings Inc)

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Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) At Contemporaneously with the Closing Timeexecution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of _________ Common Securities having an aggregate Liquidation Amount of $_________, _ against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Depositor Debentures, registered in the name of the Trust and having an aggregate principal amount equal to $___________, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer Depositor the sum of $__________. On each Date If there is a Second Time of Delivery, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of up to __________ Common Securities (less such number of Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery) having an aggregate Liquidation Amount of up to $__________ (less the aggregate Liquidation Amount of any Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery), against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. (b) At the Closing Time and on each Date of Delivery. Contemporaneously therewith, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Depositor Debentures, registered in the name of the Trust and having an aggregate principal amount equal of up to the aggregate Liquidation Amount of the Preferred Securities and Common Securities issued and sold on such date$______, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer Depositor the aggregate amount received on such date from one of by the Administrative Trustees pursuant to the immediately preceding sentence and pursuant to the last sentence of Section 2.4.

Appears in 3 contracts

Samples: Trust Agreement (Lincoln National Corp), Trust Agreement (Lincoln National Corp), Trust Agreement (Metro Capital Trust V)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) At the Closing Time, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of _________ [ ] Common Securities having an aggregate Liquidation Amount of $_________[ ], against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Debentures, registered in the name of the Trust Property Trustee in accordance with Section 2.9 and having an aggregate principal amount equal to $___________[ ], and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer the sum of $__________[ ]. On each Date of Delivery, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of up to __________ [ ] Common Securities (less such number of Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery) having an aggregate Liquidation Amount of up to $__________ [ ] (less the aggregate Liquidation Amount of any Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery), against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. (b) At the Closing Time and on each Date of Delivery, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Debentures, registered in the name of the Trust Property Trustee in accordance with Section 2.9 and having an aggregate principal amount equal to the aggregate Liquidation Amount of the Preferred Securities and Common Securities issued and sold on such date, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer the amount received on such date from one of the Administrative Trustees pursuant to the last sentence of Section 2.4.

Appears in 2 contracts

Samples: Trust Agreement (MRH Capital Trust I), Trust Agreement (MRH Capital Trust I)

Issuance of the Common Securities; Subscription and Purchase of Debentures. Contemporaneously with the execution and delivery of this Trust Agreement, (a) At the Closing Time, an Administrative TrusteeTrustees or any one of them, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of _____________ Common Securities having an aggregate Liquidation Amount of $_____________, against and in payment by of the purchase price for such Common Securities, the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Trust the sum of $_____________; and (b) the Administrative TrusteeTrustees, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Depositor Debentures, registered in the name of the Property Trustee on behalf of the Holders of the Trust Securities and having an aggregate principal amount equal to $_____________, and, in satisfaction payment of the purchase price for such Debentures, Debentures the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer Depositor the sum of $_____________. On each Date In the event and to the extent the over-allotment option granted by the Trust and the Depositor pursuant to the Underwriting Agreement is exercised by such underwriters, on the Option Closing Date, (a) the Administrative Trustees or any one of Delivery, an Administrative Trusteethem, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of up to __________ Common Securities (less such number of Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery) having an aggregate Liquidation Amount of up to $__________ (less the aggregate Liquidation Amount of any Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery), against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. ; and (b) At the Closing Time and on each Date Administrative Trustees or any one of Delivery, an Administrative Trusteethem, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Depositor additional Debentures, registered in the name of the Property Trustee on behalf of the Holders of the Trust Securities and having an aggregate principal amount equal of up to the aggregate Liquidation Amount of the Preferred Securities and Common Securities issued and sold on such date$______, and, in satisfaction payment of the purchase price for such Debentures, additional Debentures the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer Depositor an amount equal to the aggregate principal amount received on such date from one of the Administrative Trustees pursuant to the last sentence of Section 2.4additional Debentures being purchased.

Appears in 1 contract

Samples: Trust Agreement (Cleveland Electric Financing Trust I)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) At the Closing Time, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of _________ Common Securities having an aggregate Liquidation Amount of $_________, against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Debentures, registered in the name of the Trust and having in an aggregate principal amount equal to of $___________, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer the sum of $__________. On each Date of Delivery, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and 5.2and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of up to __________ Common Securities (less such number of Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery) having an aggregate Liquidation Amount of up to $__________ (less the aggregate Liquidation Amount of any Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery), against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. (b) At the Closing Time and on each Date of Delivery, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Debentures, registered in the name of the Trust Property Trustee and having in an aggregate principal amount equal to the aggregate Liquidation Amount of the Preferred Securities and Common Securities issued and sold on such date, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer the amount received on such date from one of the Administrative Trustees pursuant to the last sentence of Section 2.4.

Appears in 1 contract

Samples: Trust Agreement (Partnerre LTD)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) At the Closing Time, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the ----------- Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of _________ Common Securities having an aggregate Liquidation Amount of $_________, against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Debentures, registered in the name of the Trust and having an aggregate principal amount equal to $___________, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer the sum of $__________. On each Date of Delivery, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities ----------- Certificates, registered in the name of the Depositor, in an aggregate amount of up to __________ Common Securities (less such number of Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery) having an aggregate Liquidation Amount of up to $__________ (less the aggregate Liquidation Amount of any Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery), against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. (b) At the Closing Time and on each Date of Delivery, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Debentures, registered in the name of the Trust and having an aggregate principal amount equal to the aggregate Liquidation Amount of the Preferred Securities and Common Securities issued and sold on such date, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer the amount received on such date from one of the Administrative Trustees pursuant to the last sentence of Section 2.4.2.4 and this Section 2.5. -----------

Appears in 1 contract

Samples: Trust Agreement (Ace Ina Holdings Inc)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) At Contemporaneously with the Closing Timeexecution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of _________ Common Securities having an aggregate Liquidation Amount of $_________, _ against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Depositor Debentures, registered in the name of the Trust and having an aggregate principal amount equal to $___________, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer Depositor the sum of $__________. On each Date If there is a Second Time of Delivery, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of up to __________ Common Securities (less such number of Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery) having an aggregate Liquidation Amount of up to $__________ (less the aggregate Liquidation Amount of any Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery), against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. (b) At the Closing Time and on each Date of Delivery. Contemporaneously therewith, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Depositor Debentures, registered in the name of the Trust and having an aggregate principal amount equal of up to the aggregate Liquidation Amount of the Preferred Securities and Common Securities issued and sold on such date$_________, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer Depositor the aggregate amount received on such date from one of by the Administrative Trustees pursuant to the immediately preceding sentence and pursuant to the last sentence of Section 2.4.

Appears in 1 contract

Samples: Trust Agreement (Lincoln National Corp)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) At Contemporaneously with the Closing Timeexecution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of _________ [ ] Common Securities having an aggregate Liquidation Amount of $_________, [ ] against payment by the Depositor of an aggregate purchase price of $[ ], plus accrued distributions from [ , 20 ], if any, on such amountCommon Securities, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Depositor Debentures, registered in the name of the Trust and having an aggregate principal amount equal to $___________[ ], and, in satisfaction of the purchase price plus accrued interest from [ , 20 ], if any, for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer Depositor the sum of $__________[ ] (being the sum of the amounts delivered to the Property Trustee pursuant to (i) the second sentence of Section 2.4 and (ii) the first sentence of this Section 2.5). On each Date In connection with any subsequent issuance of DeliveryCapital Securities as set forth in the third sentence of Section 2.4, an Administrative Trustee, on behalf of the Trust, shall (a) execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of up to __________ representing Common Securities (less such number of Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery) having an aggregate Liquidation Amount of up to $__________ (less as shall be determined by the aggregate Liquidation Amount of any Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery)Depositor, against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. purchase price therefor determined by the Depositor and (b) At the Closing Time and on each Date of Delivery, an Administrative Trustee, on behalf of the Trustcontemporaneously with any such additional issuance, shall subscribe to and purchase from the Debenture Issuer Depositor Debentures, registered in the name of the Trust and Trust, having an aggregate principal amount equal to the aggregate Liquidation Amount of the Preferred Capital Securities and Common Securities being issued and sold on such date, and, in satisfaction of by the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer the amount received on such date from one of the Administrative Trustees Trust pursuant to the last third sentence of Section 2.42.4 and this third sentence of this Section 2.5, against payment of a purchase price equal to the aggregate purchase prices of the Capital Securities and Common Securities being so issued.

Appears in 1 contract

Samples: Trust Agreement (J P Morgan Chase & Co)

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Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) At Contemporaneously with the Closing Timeexecution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 5.3 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of ___________ Common Securities having an aggregate Liquidation Amount of $_________, ___ against payment by the Depositor of such amountthe purchase price therefor in immediately available funds, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Debentures, Depositor Debentures registered in the name of the Trust and having an aggregate principal amount equal to $___________, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, _ and shall deliver to the Debenture Issuer Depositor the purchase price therefor (being the sum of $__________. On each Date the amounts delivered to the Property Trustee pursuant to (i) the second sentence of DeliverySection 2.4(a) and (ii) the first sentence of this Section 2.5(a)). (b) Upon the exercise of the overallotment option as provided in the Underwriting Agreement, at the Time of Delivery for the Option Securities, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 5.3 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount equal to _____% of up the Option Securities purchased thereby not to exceed ________ Common Securities having an aggregate Liquidation Amount of $____________ Common Securities (less such number of Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery) having an aggregate Liquidation Amount of up to $__________ (less the aggregate Liquidation Amount of any Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery), against payment by the Depositor of such amountthe purchase price therefor in immediately available funds, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. (b) At the Closing Time and on each Date of Delivery. Contemporaneously therewith, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Debentures, Depositor Debentures registered in the name of the Trust and having an aggregate principal amount equal to the aggregate Liquidation Amount of the Preferred Securities and Common Securities issued and sold on such date, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, therefor and shall deliver to the Debenture Issuer Depositor the amount received on such date from one purchase price therefor (being the sum of the Administrative Trustees amounts delivered to the Property Trustee pursuant to (i) the last second sentence of Section 2.42.4(b) and (ii) the first sentence of this Section 2.5(b)).

Appears in 1 contract

Samples: Trust Agreement (Visteon Corp)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) At the Closing Time, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of _________ Common Securities having an aggregate Liquidation Amount of $_________, against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Debentures, registered in the name of the Trust and having in an aggregate principal amount equal to of $___________, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer the sum of $__________. On each Date of Delivery, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of up to __________ Common Securities (less such number of Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery) having an aggregate Liquidation Amount of up to $__________ (less the aggregate Liquidation Amount of any Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery), against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. (b) At the Closing Time and on each Date of Delivery, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Debentures, registered in the name of the Trust Property Trustee and having in an aggregate principal amount equal to the aggregate Liquidation Amount of the Preferred Securities and Common Securities issued and sold on such date, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer the amount received on such date from one of the Administrative Trustees pursuant to the last sentence of Section 2.4.

Appears in 1 contract

Samples: Trust Agreement (Partnerre LTD)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) At the Closing Time, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of _________ Common Securities having an aggregate Liquidation Amount of $_________$ , against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Debentures, registered in the name of the Trust and having an aggregate principal amount equal to $___________$ , and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer the sum of $__________$ . On each Date of Delivery, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of up to __________ Common Securities (less such number of Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery) having an aggregate Liquidation Amount of up to $__________ $ (less the aggregate Liquidation Amount of any Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery), against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. (b) At the Closing Time and on each Date of Delivery, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Debentures, registered in the name of the Trust and having an aggregate principal amount equal to the aggregate Liquidation Amount of the Preferred Securities and Common Securities issued and sold on such date, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer the amount received on such date from one of the Administrative Trustees pursuant to the last sentence of Section 2.4.

Appears in 1 contract

Samples: Trust Agreement (Assured Guaranty Capital Trust I)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) At Contemporaneously with the Closing Timeexecution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of _________ Common Securities having an aggregate Liquidation Amount of $_________, ___ against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Depositor Debentures, registered in the name of the Trust and having an aggregate principal amount equal to $___________, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer Depositor the sum of $___________ (being the sum of the amounts delivered to the Property Trustee pursuant to (i) the second sentence of Section 2.4 and (ii) the first sentence of this Section 2.5). On each Date If there is a Second Time of Delivery, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.2 and deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, in an aggregate amount of up to __________ Common Securities (less such number of Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery) having an aggregate Liquidation Amount of up to $__________ (less the aggregate Liquidation Amount of any Common Securities evidenced by Common Securities Certificates executed and delivered on any prior Dates of Delivery), against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. (b) At the Closing Time and on each Date of Delivery. Contemporaneously therewith, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Depositor Debentures, registered in the name of the Trust and having an aggregate principal amount equal of up to the aggregate Liquidation Amount of the Preferred Securities and Common Securities issued and sold on such date$___________, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Debenture Issuer Depositor the amount received on such date from one of the Administrative Trustees pursuant to the last sentence of Section 2.42.4 (being the sum of the amounts delivered to the Property Trustee pursuant to (i) the third sentence of Section 2.4 and (ii) the third sentence of this Section 2.5).

Appears in 1 contract

Samples: Trust Agreement (Owens Corning Capital Iv)

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