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) On the Closing Date, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.02 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 in an aggregate principal amount 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 $ . (b) On the Closing Date, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Debentures, registered in the name of the Property Trustee and 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 sentences of Section 2.04 and Section 2.05(a), respectively.

Appears in 2 contracts

Samples: Trust Agreement (PartnerRe Finance B LLC), Trust Agreement (PartnerRe Finance B LLC)

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Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) On the Closing Date, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.02 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 in an aggregate principal amount 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 $ $___________. (b) On the Closing Date, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Debentures, registered in the name of the Property Trustee and 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 sentences of Section 2.04 2.4 and Section 2.05(asection 2.5(a), respectively.

Appears in 1 contract

Samples: Trust Agreement (Partnerre LTD)

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Issuance of the Common Securities; Subscription and Purchase of Debentures. (a) On the Closing Date, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 5.02 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 in an aggregate principal amount 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 $ $___________. (b) On the Closing Date, an Administrative Trustee, on behalf of the Trust, shall subscribe to and purchase from the Debenture Issuer Debentures, registered in the name of the Property Trustee and 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 sentences of Section 2.04 2.4 and Section 2.05(a2.5(a), respectively.

Appears in 1 contract

Samples: Trust Agreement (Partnerre LTD)

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