Common use of Issuance of Trust Preferred Securities Clause in Contracts

Issuance of Trust Preferred Securities. (a) The Trustee having received on behalf of the Trust one or more [Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] and having acknowledged such receipt in Section 3.01(b), subject to the terms and conditions of this Trust Agreement, the Trustee, on behalf of the Trust, shall execute and deposit a single Global Certificate with DTC or its nominee or the custodian therefor, DTC or its nominee thereupon becoming the initial Holder of the Trust Preferred Securities.