Common use of Issuance of Trust Securities Clause in Contracts

Issuance of Trust Securities. (a) Upon receipt by the Property Trustee on behalf of the Trust of a written order and a certificate or certificates for the Preferred Securities, subject to the terms and conditions of this Trust Agreement, the Property Trustee, shall authenticate and make available for delivery one or more certificates evidencing the Trust Securities in the name of DTC's nominee, who shall thereupon be the initial Holder of Trust Securities. (b) If a Clearing Agency elects to discontinue its services as securities depository with respect to the Trust Securities, the Grantor may, in its sole discretion, appoint a successor Clearing Agency with respect to such Trust Securities. (c) If (x) a Clearing Agency elects to discontinue its services as securities depository with respect to the Trust Securities and a successor Clearing Agency is not appointed within 90 days after such discontinuance pursuant to Section 5.2(b); (y) the Regular Trustees elect after consultation with the Grantor to terminate the book-entry system through the Clearing Agency with respect to the Trust Securities; or (z) there is a Trust Enforcement Event; then: (i) definitive Trust Security certificates shall be prepared by the Regular Trustees on behalf of the Trust with respect to such Trust Securities; and (ii) upon notice by the Clearing Agency of its election to discontinue its services, the Regular Trustees shall execute and deliver to the Property Trustee for authentication such definitive certificates accompanied by an authentication order and accompanied by registration instructions to be delivered to Trust Security beneficial owners in accordance with the instructions of the Clearing Agency. Neither the Trustees nor the Trust shall be liable for any delay in delivery of such instructions and each of them may conclusively rely on and shall be protected in relying on, said instructions of the Clearing Agency. The Definitive Trust Security Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Property Trustee, as evidenced by its authentication thereof, and may have such letters, numbers or other marks of identification or designation and such legends or endorsements as the Regular Trustee may deem appropriate, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any stock exchange on which Trust Securities may be listed, or to conform to usage.

Issuance of Trust Securities. (a) Upon receipt by the Property Trustee on behalf of the Trust of a written order and a certificate or certificates for the Preferred Securities, subject to the terms and conditions of this Trust Agreement, the Property Trustee, shall authenticate and make available for delivery one or more certificates evidencing the Trust Securities in the name of DTC's nominee, who shall thereupon be the initial Holder of Trust Securities. (b) If a Clearing Agency elects to discontinue its services as securities depository with respect to the Trust Securities, the Grantor may, in its sole discretion, appoint a successor Clearing Agency with respect to such Trust Securities. (c) If (x) a Clearing Agency elects to discontinue its services as securities depository with respect to the Trust Securities and a successor Clearing Agency is not appointed within 90 days after such discontinuance pursuant to Section 5.2(b); or (y) the Regular Trustees elect after consultation with the Grantor to terminate the book-entry system through the Clearing Agency with respect to the Trust Securities; or (z) there is a Trust Enforcement Event; then: (i) definitive Trust Security certificates shall be prepared by the Regular Trustees on behalf of the Trust with respect to such Trust Securities; and (ii) upon notice by the Clearing Agency of its election to discontinue its services, the Regular Trustees shall execute and deliver to the Property Trustee for authentication such definitive certificates accompanied by an authentication order and accompanied by registration instructions to be delivered to Trust Security beneficial owners in accordance with the instructions of the Clearing Agency. Neither the Trustees nor the Trust shall be liable for any delay in delivery of such instructions and each of them may conclusively rely on and shall be protected in relying on, said instructions of the Clearing Agency. The Definitive Trust Security Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Property Trustee, as evidenced by its authentication thereof, and may have such letters, numbers or other marks of identification or designation and such legends or endorsements as the Regular Trustee may deem appropriate, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any stock exchange on which Trust Securities may be listed, or to conform to usage.

Issuance of Trust Securities. (a) Upon receipt by the Property Trustee on behalf of the Trust of a written order and a certificate or certificates for the Preferred Securities, subject to the terms and conditions of this Trust Agreement, the Property Trustee, shall authenticate and make available for delivery one or more certificates evidencing the Trust Securities in the name of DTC's nominee, who shall thereupon be the initial Holder of Trust Securities.. 22 (b) If a Clearing Agency elects to discontinue its services as securities depository with respect to the Trust Securities, the Grantor may, in its sole discretion, appoint a successor Clearing Agency with respect to such Trust Securities. (c) If (x) a Clearing Agency elects to discontinue its services as securities depository with respect to the Trust Securities and a successor Clearing Agency is not appointed within 90 days after such discontinuance pursuant to Section 5.2(b); or (y) the Regular Trustees elect after consultation with the Grantor to terminate the book-entry system through the Clearing Agency with respect to the Trust Securities; or (z) there is a Trust Enforcement Event; then: (i) definitive Trust Security certificates shall be prepared by the Regular Trustees on behalf of the Trust with respect to such Trust Securities; and (ii) upon notice by the Clearing Agency of its election to discontinue its services, the Regular Trustees shall execute and deliver to the Property Trustee for authentication such definitive certificates accompanied by an authentication order and accompanied by registration instructions to be delivered to Trust Security beneficial owners in accordance with the instructions of the Clearing Agency. Neither the Trustees nor the Trust shall be liable for any delay in delivery of such instructions and each of them may conclusively rely on and shall be protected in relying on, said instructions of the Clearing Agency. The Definitive Trust Security Certificates shall be printed, lithographed or engraved or may be produced in any other manner as is reasonably acceptable to the Property Trustee, as evidenced by its authentication thereof, and may have such letters, numbers or other marks of identification or designation and such legends or endorsements as the Regular Trustee may deem appropriate, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any stock exchange on which Trust Securities may be listed, or to conform to usage.