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) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections 5.2 and 5.3 Common Securities Certificates, registered in the name of the Depositor, evidencing an aggregate of 61,856 Common Securities having an aggregate Liquidation Amount of $1,546,400. Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for and purchase from the Depositor, and cause to be delivered to the Property Trustee, Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to $51,546,400, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, deliver to the Depositor the sum of $50,000,000 and the Common Securities referred to in the previous sentence. (b) If and to the extent that the underwriters exercise their option under the Underwriting Agreement to purchase up to 300,000 additional Preferred Securities, then contemporaneously with the delivery of the Book-Entry Preferred Securities Certificates evidencing such Preferred Securities pursuant to the last sentence of Section 2.4, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections 5.2 and 5.3 Common Securities Certificates, registered in the name of the Depositor, evidencing an aggregate number of Common Securities equal to the smallest number of Common Securities having an aggregate Liquidation Amount that (i) is an integral multiple of $1,000 and (ii) when added to the aggregate Liquidation Amount of the Common Securities issued pursuant to Section 2.5(a), is equal to or greater than 3% of the aggregate Liquidation Amount of all Trust Securities issued pursuant to Section 2.4, Section 2.5(a) and this Section 2.5(b) Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for and purchase from the Depositor, and shall cause to be delivered to the Property Trustee, Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to the aggregate Liquidation Amount of all Trust Securities issued pursuant to the last sentence of Section 2.4 and the first sentence of this Section 2.5(b), and in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, deliver to the Depositor the amount received by the Property Trustee pursuant to the last sentence of Section 2.4 and the Common Securities referred to in the first sentence of this Section 2.5(b).

Appears in 2 contracts

Samples: Trust Agreement (Seacoast Financial Services Corp), Trust Agreement (Seacoast Financial Services Corp)

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Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative TrusteeAdministrator, on behalf of the Issuer Trust, shall manually execute in accordance with Sections 5.2 Section 5.3 and 5.3 deliver to the Sponsor Common Securities Certificates, registered in the name of the DepositorSponsor, evidencing in an aggregate amount of 61,856 Common Securities having an aggregate Liquidation Amount of $1,546,400$ , against payment by the Sponsor of the purchase price therefor in immediately available funds, which amount that Administrator shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative TrusteeAdministrator, on behalf of the Issuer Trust, shall subscribe for to and purchase from the Depositor, and cause to be delivered to the Property Trustee, Debentures, Sponsor Debentures registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to $51,546,400, and, in satisfaction of $ and deliver to the Sponsor the purchase price for such Debentures, therefor in an amount equal to the sum of the amounts delivered to the Property TrusteeTrustee pursuant to (i) the second sentence of Section 2.4 and (ii) the first sentence of this Section 2.5. In connection with any subsequent issuance of Preferred Securities as set forth in the last sentence of Section 2.4, an Administrator, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, deliver to the Depositor the sum of $50,000,000 and the Common Securities referred to in the previous sentence. (b) If and to the extent that the underwriters exercise their option under the Underwriting Agreement to purchase up to 300,000 additional Preferred Securities, then contemporaneously with the delivery of the Book-Entry Preferred Securities Certificates evidencing any such Preferred Securities pursuant additional issuance, subscribe to the last sentence of Section 2.4, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections 5.2 and 5.3 Common Securities Certificates, registered in the name of the Depositor, evidencing an aggregate number of Common Securities equal to the smallest number of Common Securities having an aggregate Liquidation Amount that (i) is an integral multiple of $1,000 and (ii) when added to the aggregate Liquidation Amount of the Common Securities issued pursuant to Section 2.5(a), is equal to or greater than 3% of the aggregate Liquidation Amount of all Trust Securities issued pursuant to Section 2.4, Section 2.5(a) and this Section 2.5(b) Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for and purchase from the Depositor, and shall cause to be delivered to the Property Trustee, Sponsor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and Trust, having an aggregate principal amount equal to the aggregate Liquidation Amount of all Preferred Securities being issued by the Issuer Trust Securities issued pursuant to the last sentence of Section 2.4 and against payment of a purchase price equal to the first sentence of this Section 2.5(b), and in satisfaction aggregate purchase price of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, deliver to the Depositor the amount received by the Property Trustee pursuant to the last sentence of Section 2.4 and the Common Preferred Securities referred to in the first sentence of this Section 2.5(b)being so issued.

Appears in 1 contract

Samples: Trust Agreement (Wilmington Trust Capital A)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections Section 5.2 and 5.3 deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, evidencing in an aggregate amount of 61,856 46,392 Common Securities having an aggregate Liquidation Amount of $1,546,400463,920, plus on either of the Closing Date or the Option Closing Date, up to an additional 6,959 Common Securities having an aggregate Liquidation Amount of $69,590 (the "Additional Common Securities") to meet the capital requirements of the Trust in the event that Additional Preferred Securities are issued, 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 Issuer Trust, shall subscribe for to and purchase from the Depositor, and cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to $51,546,40015,463,920 (or, in the event that Additional Preferred Securities and Additional Common Securities are issued, up to $17,758,510), and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, shall deliver to the Depositor the sum of $50,000,000 15,463,920 (or, in the event that Additional Preferred Securities and the Additional Common Securities referred to in the previous sentence. (b) If and to the extent that the underwriters exercise their option under the Underwriting Agreement to purchase are issued, up to 300,000 additional Preferred Securities$17,758,510), then contemporaneously with such amount being the delivery sum of the Book-Entry Preferred Securities Certificates evidencing such Preferred Securities pursuant to the last sentence of Section 2.4, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections 5.2 and 5.3 Common Securities Certificates, registered in the name of the Depositor, evidencing an aggregate number of Common Securities equal to the smallest number of Common Securities having an aggregate Liquidation Amount that (i) is an integral multiple of $1,000 and (ii) when added to the aggregate Liquidation Amount of the Common Securities issued pursuant to Section 2.5(a), is equal to or greater than 3% of the aggregate Liquidation Amount of all Trust Securities issued pursuant to Section 2.4, Section 2.5(a) and this Section 2.5(b) Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for and purchase from the Depositor, and shall cause to be amounts delivered to the Property Trustee, Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to the aggregate Liquidation Amount of all Trust Securities issued pursuant to (i) the last second sentence of Section 2.4 and (ii) the first sentence of this Section 2.5(b), and in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, deliver to the Depositor the amount received by the Property Trustee pursuant to the last sentence of Section 2.4 and the Common Securities referred to in the first sentence of this Section 2.5(b)2.5.

Appears in 1 contract

Samples: Trust Agreement (PCC Capital I)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections 5.2 5.2, 5.3 and 5.3 8.9(a) and the Property Trustee shall deliver to the Sponsor, Common Securities Certificates, registered in the name of the DepositorSponsor, evidencing an aggregate of 61,856 Common Securities having an aggregate Liquidation Amount of $1,546,40010,000, against receipt of the aggregate purchase price of such Common Securities of $10,000 by the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for and purchase from the Depositor, and cause to be delivered to Sponsor the Property Trustee, Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to $51,546,400, $ and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, shall deliver to the Depositor Sponsor the sum of $50,000,000 and $ (being the Common Securities referred to in sum of the previous sentence. (b) If and amounts delivered to the extent that Property Trustee pursuant to (i) the underwriters exercise their option under second sentence of Section 2.4 and (ii) the Underwriting Agreement to purchase up to 300,000 additional Preferred Securities, then contemporaneously first sentence of this Section 2.5). In connection with the delivery any subsequent issuance of the Book-Entry Preferred Securities Certificates evidencing such Preferred Securities pursuant to as set forth in the last sentence of Section 2.4, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance contemporaneously with Sections 5.2 and 5.3 Common Securities Certificatesany such additional issuance, registered in the name of the Depositor, evidencing an aggregate number of Common Securities equal subscribe to the smallest number of Common Securities having an aggregate Liquidation Amount that (i) is an integral multiple of $1,000 and (ii) when added to the aggregate Liquidation Amount of the Common Securities issued pursuant to Section 2.5(a), is equal to or greater than 3% of the aggregate Liquidation Amount of all Trust Securities issued pursuant to Section 2.4, Section 2.5(a) and this Section 2.5(b) Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for and purchase from the Depositor, and shall cause to be delivered to the Property Trustee, Sponsor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and Trust, having an aggregate principal amount equal to the aggregate Liquidation Amount of all Preferred Securities being issued by the Issuer Trust Securities issued pursuant to the last sentence of Section 2.4 and against payment of a purchase price equal to the first sentence of this Section 2.5(b), and in satisfaction aggregate purchase prices of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, deliver to the Depositor the amount received by the Property Trustee pursuant to the last sentence of Section 2.4 and the Common Preferred Securities referred to in the first sentence of this Section 2.5(b)being so issued.

Appears in 1 contract

Samples: Trust Agreement (Wachovia Capital Trust XIII)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections Section 5.2 and 5.3 deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, evidencing in an aggregate amount of 61,856 10 Common Securities having an aggregate Liquidation Amount of $1,546,40010,000 against payment by the Depositor of an aggregate purchase price of $10,000, plus accrued distributions from November [•], 2007, if any, on such Common Securities, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for to and purchase from the Depositor, and cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to $51,546,400[ ], and, in satisfaction of the purchase price plus accrued interest from November [•], 2007, if any, for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, shall deliver to the Depositor the sum of $50,000,000 [•] (being the sum of the amounts delivered to the Property Trustee pursuant to (i) the second sentence of Section 2.4 and (ii) the Common first sentence of this Section 2.5). In connection with any subsequent issuance of Capital Securities referred to as set forth in the previous sentence. (b) If and to the extent that the underwriters exercise their option under the Underwriting Agreement to purchase up to 300,000 additional Preferred Securities, then contemporaneously with the delivery of the Book-Entry Preferred Securities Certificates evidencing such Preferred Securities pursuant to the last third sentence of Section 2.4, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance contemporaneously with Sections 5.2 and 5.3 Common Securities Certificates, registered in the name of the Depositor, evidencing an aggregate number of Common Securities equal to the smallest number of Common Securities having an aggregate Liquidation Amount that (i) is an integral multiple of $1,000 and (ii) when added to the aggregate Liquidation Amount of the Common Securities issued pursuant to Section 2.5(a), is equal to or greater than 3% of the aggregate Liquidation Amount of all Trust Securities issued pursuant to Section 2.4, Section 2.5(a) and this Section 2.5(b) Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trustany such additional issuance, shall subscribe for to and purchase from the Depositor, and shall cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and Trust, having an aggregate principal amount equal to the aggregate Liquidation Amount of all Capital Securities being issued by the Trust Securities issued pursuant to the last third sentence of Section 2.4 and against payment of a purchase price equal to the first sentence of this Section 2.5(b), and in satisfaction aggregate purchase prices of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, deliver to the Depositor the amount received by the Property Trustee pursuant to the last sentence of Section 2.4 and the Common Capital Securities referred to in the first sentence of this Section 2.5(b)being so issued.

Appears in 1 contract

Samples: Trust Agreement (Susquehanna Bancshares Inc)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections 5.2 and 5.3 5.3, and the Property Trustee shall deliver to the Depositor, Common Securities Certificates, Certificates registered in the name of the Depositor, evidencing an aggregate of 61,856 92,784 Common Securities having an aggregate Liquidation Amount of $1,546,4002,319,600, against receipt of the aggregate purchase price of such Common Securities of $2,319,600 (plus accrued Distributions, if any) by the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Depositor shall issue and sell to the Issuer Trust, and the Issuer Trust shall subscribe for and purchase from the Depositor, and cause Debentures having an aggregate principal amount equal to be delivered to the Property Trustee, Debentures, $77,319,600 registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to $51,546,400, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, shall deliver to the Depositor the sum of $50,000,000 and 77,319,600 (plus accrued Distributions, if any) (being the Common Securities referred to in sum of the previous sentence. (b) If and amounts delivered to the extent that the underwriters exercise their option under the Underwriting Agreement to purchase up to 300,000 additional Preferred Securities, then contemporaneously with the delivery of the Book-Entry Preferred Securities Certificates evidencing such Preferred Securities Property Trustee pursuant to (i) the last second sentence of Section 2.4, and (ii) the first sentence of this Section 2.5). If the Underwriters purchase any Optional Securities in accordance with Section 1(a) of the Underwriting Agreement, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections 5.2 and 5.3 5.3, and the Property Trustee shall deliver to the Depositor, Common Securities Certificates, registered in the name of the Depositor, evidencing an aggregate number of Common Securities equal to the smallest number of Common Securities having an aggregate Liquidation Amount that (i) is an integral multiple of up to $1,000 and (ii) when added to the aggregate Liquidation Amount of the Common Securities issued pursuant to Section 2.5(a)347,940, is equal to or greater than 3% against receipt of the aggregate Liquidation Amount of all Trust Securities issued pursuant to Section 2.4, Section 2.5(a) and this Section 2.5(b) purchase price therefor by the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for to and purchase from the Depositor, and shall cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal of up to the aggregate Liquidation Amount of all Trust Securities issued pursuant to the last sentence of Section 2.4 and the first sentence of this Section 2.5(b)$11,597,940, and and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, shall deliver to the Depositor the amount received by the Property Trustee it pursuant to the last sentence of Section 2.4 and the Common Securities referred to in the first third sentence of this Section 2.5(b)2.5.

Appears in 1 contract

Samples: Trust Agreement (Southern States Capital Trust I)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections Section 5.2 and 5.3 deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, evidencing in an aggregate amount of 61,856 46,392 Common Securities having an aggregate Liquidation Amount of $1,546,400463,920, plus on either of the Closing Date or the Option Closing Date, up to an additional 6,959 Common Securities having an aggregate Liquidation Amount of $69,590 (the "Additional Common Securities") to meet the capital requirements of the Trust in the event that Additional Preferred Securities are issued, 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 Issuer Trust, shall subscribe for to and purchase from the Depositor, and cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to $51,546,40015,463,920 (or, in the event that Additional Preferred Securities and Additional Common Securities are issued, up to $17,783,510), and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, shall deliver to the Depositor the sum of $50,000,000 15,463,920 (or, in the event that Additional Preferred Securities and the Additional Common Securities referred to in the previous sentence. (b) If and to the extent that the underwriters exercise their option under the Underwriting Agreement to purchase are issued, up to 300,000 additional Preferred Securities$17,783,510), then contemporaneously with such amount being the delivery sum of the Book-Entry Preferred Securities Certificates evidencing such Preferred Securities pursuant to the last sentence of Section 2.4, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections 5.2 and 5.3 Common Securities Certificates, registered in the name of the Depositor, evidencing an aggregate number of Common Securities equal to the smallest number of Common Securities having an aggregate Liquidation Amount that (i) is an integral multiple of $1,000 and (ii) when added to the aggregate Liquidation Amount of the Common Securities issued pursuant to Section 2.5(a), is equal to or greater than 3% of the aggregate Liquidation Amount of all Trust Securities issued pursuant to Section 2.4, Section 2.5(a) and this Section 2.5(b) Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for and purchase from the Depositor, and shall cause to be amounts delivered to the Property Trustee, Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to the aggregate Liquidation Amount of all Trust Securities issued pursuant to (i) the last second sentence of Section 2.4 and (ii) the first sentence of this Section 2.5(b), and in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, deliver to the Depositor the amount received by the Property Trustee pursuant to the last sentence of Section 2.4 and the Common Securities referred to in the first sentence of this Section 2.5(b)2.5.

Appears in 1 contract

Samples: Trust Agreement (Pacific Crest Capital Inc)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections Section 5.2 and 5.3 deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, evidencing in an aggregate amount of 61,856 15,464 Common Securities having an aggregate Liquidation Amount of $1,546,40015,464,000 against payment by the Depositor of an aggregate purchase price of $15,323,742, plus accrued distributions from August 3, 2005, if any, on such Common Securities, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for to and purchase from the Depositor, and cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to $51,546,400515,464,000, and, in satisfaction of the purchase price plus accrued interest from August 3, 2005, if any, for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, shall deliver to the Depositor the sum of $50,000,000 510,788,742 (being the sum of the amounts delivered to the Property Trustee pursuant to (i) the second sentence of Section 2.4 and (ii) the Common first sentence of this Section 2.5). In connection with any subsequent issuance of Capital Securities referred to as set forth in the previous sentence. (b) If and to the extent that the underwriters exercise their option under the Underwriting Agreement to purchase up to 300,000 additional Preferred Securities, then contemporaneously with the delivery of the Book-Entry Preferred Securities Certificates evidencing such Preferred Securities pursuant to the last third sentence of Section 2.4, an Administrative Trustee, on behalf of the Issuer Trust, shall manually (a) execute in accordance with Sections Section 5.2 and 5.3 deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, evidencing an aggregate number of Common Securities equal to the smallest number of representing Common Securities having an aggregate Liquidation Amount that equal to at least three percent (i3%) is an integral multiple of $1,000 and the aggregate Liquidation Amount of any Capital Securities being issued contemporaneously with any such additional issuance (ii) when added to as shall be determined by the Depositor), against payment by the Depositor of the Purchase Price Percentage of the aggregate Liquidation Amount of the Common Securities so issued pursuant to Section 2.5(a), is equal to or greater than 3% of the aggregate Liquidation Amount of all Trust Securities issued pursuant to Section 2.4, Section 2.5(aand (b) and this Section 2.5(b) Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trustcontemporaneously with any such additional issuance, shall subscribe for to and purchase from the Depositor, and shall cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and Trust, having an aggregate principal amount equal to the aggregate Liquidation Amount of all Capital Securities and Common Securities being issued by the Trust Securities issued pursuant to the last third sentence of Section 2.4 and the first this third sentence of this Section 2.5(b)2.5, and in satisfaction against payment of a purchase price equal to the aggregate purchase prices of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, deliver to the Depositor the amount received by the Property Trustee pursuant to the last sentence of Section 2.4 Capital Securities and the Common Securities referred to in the first sentence of this Section 2.5(b)being so issued.

Appears in 1 contract

Samples: Trust Agreement (JPMorgan Chase Capital XVI)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections Section 5.2 and 5.3 deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, evidencing in an aggregate amount of 61,856 [ ] Common Securities having an aggregate Liquidation Amount of $1,546,400[ ] against payment by the Depositor of an aggregate purchase price plus accrued distributions from [ , 20 ], if any, on such Common Securities, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for to and purchase from the Depositor, and cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to $51,546,400[ ], and, in satisfaction of the purchase price plus accrued interest from [ , 20 ], if any, for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, shall deliver to the Depositor the sum of $50,000,000 [ ] (being the sum of the amounts delivered to the Property Trustee pursuant to (i) the second sentence of Section 2.4 and (ii) the Common first sentence of this Section 2.5). In connection with any subsequent issuance of Capital Securities referred to as set forth in the previous sentence. (b) If and to the extent that the underwriters exercise their option under the Underwriting Agreement to purchase up to 300,000 additional Preferred Securities, then contemporaneously with the delivery of the Book-Entry Preferred Securities Certificates evidencing such Preferred Securities pursuant to the last third sentence of Section 2.4, an Administrative Trustee, on behalf of the Issuer Trust, shall manually (a) execute in accordance with Sections Section 5.2 and 5.3 deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, evidencing an aggregate number of Common Securities equal to the smallest number of representing Common Securities having an aggregate Liquidation Amount that (iA) is an integral multiple of up to $1,000 and [ ] for all such subsequent issuances pursuant to the Underwriters’ over-allotment option or (iiB) when added equal to at least three percent (3%) of the aggregate Liquidation Amount of any Capital Securities being issued contemporaneously with any such additional issuance (as shall be determined by the Depositor), against payment by the Depositor of (X) $[ ] per Common Security for all such subsequent issuances pursuant to the Underwriters’ over-allotment option or (Y) the Purchase Price Percentage of the aggregate Liquidation Amount of the Common Securities so issued pursuant to Section 2.5(a), is equal to or greater than 3% of the aggregate Liquidation Amount of all Trust Securities issued pursuant to Section 2.4, Section 2.5(aand (b) and this Section 2.5(b) Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trustcontemporaneously with any such additional issuance, shall subscribe for to and purchase from the Depositor, and shall cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and Trust, having an aggregate principal amount equal to the aggregate Liquidation Amount of all Capital Securities and Common Securities being issued by the Trust Securities issued pursuant to the last third or fourth sentence of Section 2.4 and the first this third sentence of this Section 2.5(b)2.5, and in satisfaction against payment of a purchase price equal to the aggregate purchase prices of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, deliver to the Depositor the amount received by the Property Trustee pursuant to the last sentence of Section 2.4 Capital Securities and the Common Securities referred to in the first sentence of this Section 2.5(b)being so issued.

Appears in 1 contract

Samples: Trust Agreement (JPMorgan Chase Capital XXII)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections Section 5.2 and 5.3 deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, evidencing in an aggregate amount of 61,856 10 Common Securities having an aggregate Liquidation Amount of $1,546,40010,000 against payment by the Depositor of an aggregate purchase price of $10,000, plus accrued distributions from August [ • ], 2008, if any, on such Common Securities, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for to and purchase from the Depositor, and cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to $51,546,400$ [ ], and, in satisfaction of the purchase price plus accrued interest from August [ • ], 2008, if any, for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, shall deliver to the Depositor the sum of $50,000,000 [ • ] (being the sum of the amounts delivered to the Property Trustee pursuant to (i) the second sentence of Section 2.4 and (ii) the Common first sentence of this Section 2.5). In connection with any subsequent issuance of Capital Securities referred to as set forth in the previous sentence. (b) If and to the extent that the underwriters exercise their option under the Underwriting Agreement to purchase up to 300,000 additional Preferred Securities, then contemporaneously with the delivery of the Book-Entry Preferred Securities Certificates evidencing such Preferred Securities pursuant to the last third sentence of Section 2.4, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance contemporaneously with Sections 5.2 and 5.3 Common Securities Certificates, registered in the name of the Depositor, evidencing an aggregate number of Common Securities equal to the smallest number of Common Securities having an aggregate Liquidation Amount that (i) is an integral multiple of $1,000 and (ii) when added to the aggregate Liquidation Amount of the Common Securities issued pursuant to Section 2.5(a), is equal to or greater than 3% of the aggregate Liquidation Amount of all Trust Securities issued pursuant to Section 2.4, Section 2.5(a) and this Section 2.5(b) Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trustany such additional issuance, shall subscribe for to and purchase from the Depositor, and shall cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and Trust, having an aggregate principal amount equal to the aggregate Liquidation Amount of all Capital Securities being issued by the Trust Securities issued pursuant to the last third sentence of Section 2.4 and against payment of a purchase price equal to the first sentence of this Section 2.5(b), and in satisfaction aggregate purchase prices of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, deliver to the Depositor the amount received by the Property Trustee pursuant to the last sentence of Section 2.4 and the Common Capital Securities referred to in the first sentence of this Section 2.5(b)being so issued.

Appears in 1 contract

Samples: Trust Agreement (TCF Capital I)

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Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections Section 5.2 and 5.3 deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, evidencing in an aggregate amount of 61,856 618, 557 Common Securities having an aggregate Liquidation Amount of $1,546,40015,463,925 against payment by the Depositor of an aggregate purchase price of $15,463,925, plus accrued distributions from May 26, 2005, if any, on such Common Securities, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for to and purchase from the Depositor, and cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to $51,546,400515,463,925, and, in satisfaction of the purchase price plus accrued interest from May 26, 2005, if any, for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, shall deliver to the Depositor the sum of $50,000,000 515,463,925 (being the sum of the amounts delivered to the Property Trustee pursuant to (i) the second sentence of Section 2.4 and (ii) the Common first sentence of this Section 2.5). In connection with any subsequent issuance of Capital Securities referred to as set forth in the previous sentence. (b) If and to the extent that the underwriters exercise their option under the Underwriting Agreement to purchase up to 300,000 additional Preferred Securities, then contemporaneously with the delivery of the Book-Entry Preferred Securities Certificates evidencing such Preferred Securities pursuant to the last third sentence of Section 2.4, an Administrative Trustee, on behalf of the Issuer Trust, shall manually (a) execute in accordance with Sections Section 5.2 and 5.3 deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, evidencing an aggregate number of Common Securities equal to the smallest number of representing Common Securities having an aggregate Liquidation Amount that (iA) is an integral multiple of up to $1,000 and 2,319,600 for all such subsequent issuances pursuant to the Underwriters’ over-allotment option or (iiB) when added equal to at least three percent (3%) of the aggregate Liquidation Amount of any Capital Securities being issued contemporaneously with any such additional issuance (as shall be determined by the Depositor), against payment by the Depositor of (X) $25 per Common Security for all such subsequent issuances pursuant to the Underwriters’ over-allotment option or (Y) the Purchase Price Percentage of the aggregate Liquidation Amount of the Common Securities so issued pursuant to Section 2.5(a), is equal to or greater than 3% of the aggregate Liquidation Amount of all Trust Securities issued pursuant to Section 2.4, Section 2.5(aand (b) and this Section 2.5(b) Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trustcontemporaneously with any such additional issuance, shall subscribe for to and purchase from the Depositor, and shall cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and Trust, having an aggregate principal amount equal to the aggregate Liquidation Amount of all Capital Securities and Common Securities being issued by the Trust Securities issued pursuant to the last third or fourth sentence of Section 2.4 and the first this third sentence of this Section 2.5(b)2.5, and in satisfaction against payment of a purchase price equal to the aggregate purchase prices of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, deliver to the Depositor the amount received by the Property Trustee pursuant to the last sentence of Section 2.4 Capital Securities and the Common Securities referred to in the first sentence of this Section 2.5(b)being so issued.

Appears in 1 contract

Samples: Trust Agreement (JPMorgan Chase Capital XVI)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections 5.2 and 5.3 Common Securities Certificates, registered in the name of the Depositor, evidencing an aggregate of 61,856 55,671 Common Securities having an aggregate Liquidation Amount of $1,546,4001,391,775. Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for and purchase from the Depositor, and cause to be delivered to the Property Trustee, Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to $51,546,40046,391,775, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, deliver to the Depositor the sum of $50,000,000 45,000,000 and the Common Securities referred to in the previous sentence. (b) If and to the extent that the underwriters exercise their option under the Underwriting Agreement to purchase up to 300,000 270,000 additional Preferred Securities, then contemporaneously with the delivery of the Book-Entry Preferred Securities Certificates evidencing such Preferred Securities pursuant to the last sentence of Section 2.4, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections 5.2 and 5.3 Common Securities Certificates, registered in the name of the Depositor, evidencing an aggregate number of Common Securities equal to the smallest number of Common Securities having an aggregate Liquidation Amount that (i) is an integral multiple of $1,000 and (ii) when added to the aggregate Liquidation Amount of the Common Securities issued pursuant to Section 2.5(a), is equal to or greater than 3% of the aggregate Liquidation Amount of all Trust Securities issued pursuant to Section 2.4, Section 2.5(a) and this Section 2.5(b) Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for and purchase from the Depositor, and shall cause to be delivered to the Property Trustee, Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to the aggregate Liquidation Amount of all Trust Securities issued pursuant to the last sentence of Section 2.4 and the first sentence of this Section 2.5(b), and in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, deliver to the Depositor the amount received by the Property Trustee pursuant to the last sentence of Section 2.4 and the Common Securities referred to in the first sentence of this Section 2.5(b).

Appears in 1 contract

Samples: Trust Agreement (Seacoast Financial Services Corp)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections Section 5.2 and 5.3 deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, evidencing in an aggregate amount of 61,856 1,000 Common Securities having an aggregate Liquidation Amount of $1,546,4001,000,000 against payment by the Depositor of an aggregate purchase price of $1,000,000, plus accrued distributions from February 2, 2007, if any, on such Common Securities, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for to and purchase from the Depositor, and cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to $51,546,400851,000,000, and, in satisfaction of the purchase price plus accrued interest from February 2, 2007, if any, for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, shall deliver to the Depositor the sum of $50,000,000 845,296,500 (being the sum of the amounts delivered to the Property Trustee pursuant to (i) the second sentence of Section 2.4 and (ii) the Common first sentence of this Section 2.5). In connection with any subsequent issuance of Capital Securities referred to as set forth in the previous sentence. (b) If and to the extent that the underwriters exercise their option under the Underwriting Agreement to purchase up to 300,000 additional Preferred Securities, then contemporaneously with the delivery of the Book-Entry Preferred Securities Certificates evidencing such Preferred Securities pursuant to the last third sentence of Section 2.4, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance contemporaneously with Sections 5.2 and 5.3 Common Securities Certificates, registered in the name of the Depositor, evidencing an aggregate number of Common Securities equal to the smallest number of Common Securities having an aggregate Liquidation Amount that (i) is an integral multiple of $1,000 and (ii) when added to the aggregate Liquidation Amount of the Common Securities issued pursuant to Section 2.5(a), is equal to or greater than 3% of the aggregate Liquidation Amount of all Trust Securities issued pursuant to Section 2.4, Section 2.5(a) and this Section 2.5(b) Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trustany such additional issuance, shall subscribe for to and purchase from the Depositor, and shall cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and Trust, having an aggregate principal amount equal to the aggregate Liquidation Amount of all Capital Securities being issued by the Trust Securities issued pursuant to the last third sentence of Section 2.4 and against payment of a purchase price equal to the first sentence of this Section 2.5(b), and in satisfaction aggregate purchase prices of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, deliver to the Depositor the amount received by the Property Trustee pursuant to the last sentence of Section 2.4 and the Common Capital Securities referred to in the first sentence of this Section 2.5(b)being so issued.

Appears in 1 contract

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

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections Section 5.2 and 5.3 deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, evidencing in an aggregate amount of 61,856 400 Common Securities having an aggregate Liquidation Amount of $1,546,40010,000 against payment by the Depositor of an aggregate purchase price of $10,000 plus accrued distributions from December 12, 2007, if any, on such Common Securities, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for to and purchase from the Depositor, and cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to $51,546,400125,010,000, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, shall deliver to the Depositor the sum of $50,000,000 125,010,000 (being the sum of the amounts delivered to the Property Trustee pursuant to (i) the second sentence of Section 2.4 and (ii) the Common first sentence of this Section 2.5) plus accrued interest from December 12, 2007, if any. In connection with any subsequent issuance of Capital Securities referred to as set forth in the previous sentence. (b) If and to the extent that the underwriters exercise their option under the Underwriting Agreement to purchase up to 300,000 additional Preferred Securities, then contemporaneously with the delivery of the Book-Entry Preferred Securities Certificates evidencing such Preferred Securities pursuant to the last third sentence of Section 2.4, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance contemporaneously with Sections 5.2 and 5.3 Common Securities Certificates, registered in the name of the Depositor, evidencing an aggregate number of Common Securities equal to the smallest number of Common Securities having an aggregate Liquidation Amount that (i) is an integral multiple of $1,000 and (ii) when added to the aggregate Liquidation Amount of the Common Securities issued pursuant to Section 2.5(a), is equal to or greater than 3% of the aggregate Liquidation Amount of all Trust Securities issued pursuant to Section 2.4, Section 2.5(a) and this Section 2.5(b) Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trustany such additional issuance, shall subscribe for to and purchase from the Depositor, and shall cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and Trust, having an aggregate principal amount equal to the aggregate Liquidation Amount of all Capital Securities being issued by the Trust Securities issued pursuant to the last third sentence of Section 2.4 and against payment of a purchase price equal to the first sentence of this Section 2.5(b), and in satisfaction aggregate purchase prices of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, deliver to the Depositor the amount received by the Property Trustee pursuant to the last sentence of Section 2.4 and the Common Capital Securities referred to in the first sentence of this Section 2.5(b)being so issued.

Appears in 1 contract

Samples: Trust Agreement (Susquehanna Bancshares Inc)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections 5.2 and 5.3 and the Property Trustee shall deliver to the Depositor, Common Securities Certificates, registered in the name of the Depositor, evidencing an aggregate of 61,856 77,400 Common Securities having an aggregate Liquidation Amount of $1,546,400774,000, against receipt by the Property Trustee of the aggregate purchase price of such Common Securities of $774,000. Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for and purchase from the Depositor, and cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to $51,546,40025,774,000, and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, shall deliver to the Depositor the sum of $50,000,000 25,774,000 (being the sum of the amounts received by the Property Trustee pursuant to the second sentence of Section 2.4 and the Common Securities referred to in the previous sentencefirst sentence of this Section 2.5(a)). (b) If and to the extent that the underwriters exercise their option under the Underwriting Agreement to purchase up to 300,000 additional Preferred Securities, then contemporaneously with the delivery of the Book-Entry Preferred Securities Certificates evidencing such Preferred Securities pursuant to the last sentence of Section 2.4, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections 5.2 and 5.3 and the Property Trustee shall deliver to the Depositor, Common Securities Certificates, registered in the name of the Depositor, evidencing an aggregate number of Common Securities equal to the smallest number of Common Securities having an aggregate Liquidation Amount that (i) is an integral multiple of $1,000 and (ii) when added to the aggregate Liquidation Amount of the Common Securities issued pursuant to Section 2.5(a), is equal to or greater than 3% of the aggregate Liquidation Amount of all Trust Securities issued pursuant to Section 2.4, Section 2.5(a) and this Section 2.5(b), against receipt by the Property Trustee of the aggregate purchase price of the Common Securities issued pursuant to this Section 2.5(b) equal to the aggregate Liquidation Amount of such Common Securities plus any accumulated distributions thereon from _____________, 2002 to the date of such delivery and payment. Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for and purchase from the Depositor, and shall cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to the aggregate Liquidation Amount of all Trust Securities issued pursuant to the last sentence of Section 2.4 and the first sentence of this Section 2.5(b), and in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, shall deliver to the Depositor the amount sum of the amounts received by the Property Trustee pursuant to the last sentence of Section 2.4 and the Common Securities referred to in the first sentence of this Section 2.5(b).

Appears in 1 contract

Samples: Trust Agreement (Sterling Bancorp Trust I)

Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections Section 5.2 and 5.3 deliver to the Depositor Common Securities Certificates, registered in the name of the Depositor, evidencing in an aggregate amount of 61,856 40,000 Common Securities having an aggregate Liquidation Amount of $1,546,4001,000,000 against payment by the Depositor of an aggregate purchase price of $1,000,000, plus accrued distributions from November 8, 2006, if any, on such Common Securities, which amount an Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for to and purchase from the Depositor, and cause to be delivered to the Property Trustee, Depositor Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal of up to $51,546,400, 1,496,000,000 and, in satisfaction of the purchase price plus accrued interest from November 8, 2006, if any, for such Debentures, the Property Trustee, on behalf of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, shall deliver to the Depositor the sum of up to $50,000,000 and 1,496,000,000 (being the Common Securities referred to in sum of the previous sentence. (b) If and amounts delivered to the extent that the underwriters exercise their option under the Underwriting Agreement to purchase up to 300,000 additional Preferred Securities, then contemporaneously with the delivery of the Book-Entry Preferred Securities Certificates evidencing such Preferred Securities Property Trustee pursuant to (i) the last second sentence of Section 2.42.4 and (ii) the first sentence of this Section 2.5). Contemporaneously with the issuance of additional Capital Securities within 90 days of the date hereof as contemplated by Section 2.4 hereof, an Administrative Trustee, on behalf of the Issuer Trust, shall manually execute in accordance with Sections 5.2 subscribe to and 5.3 Common Securities Certificates, purchase from the Depositor Debentures registered in the name of the Depositor, evidencing an aggregate number of Common Securities equal to the smallest number of Common Securities having an aggregate Liquidation Amount that (i) is an integral multiple of $1,000 and (ii) when added to the aggregate Liquidation Amount of the Common Securities issued pursuant to Section 2.5(a), is equal to or greater than 3% of the aggregate Liquidation Amount of all Trust Securities issued pursuant to Section 2.4, Section 2.5(a) and this Section 2.5(b) Contemporaneously therewith, an Administrative Trustee, on behalf of the Issuer Trust, shall subscribe for and purchase from the Depositor, and shall cause to be delivered to the Property Trustee, Debentures, registered in the name of the Property Trustee on behalf of the Issuer Trust and having an aggregate principal amount equal to the sum of the aggregate Liquidation Amount of all Trust the Capital Securities then being issued and the aggregate Liquidation Amount of any Common Securities then being issued pursuant to a subscription agreement between the last sentence of Section 2.4 Trust and the first sentence of this Section 2.5(b), and in satisfaction of the Depositor. The purchase price for such Debentures, the Property Trustee, on behalf Debentures shall be equal to such aggregate Liquidation Amount of the Issuer Trust, shall, pursuant to written instructions from an Administrative Trustee, deliver to the Depositor the amount received by the Property Trustee pursuant to the last sentence of Section 2.4 Capital Securities and the any Common Securities referred to in plus accrued interest from the first sentence later of this Section 2.5(b)November 8, 2006 or the next preceding Distribution Date.

Appears in 1 contract

Samples: Trust Agreement (Countrywide Financial Corp)

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