Issuance of Trust Shares Sample Clauses

Issuance of Trust Shares. (a) On the Plan Effective Date:
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Issuance of Trust Shares. On or prior to the Effective Date, the Company (with Holder’s consent) shall direct the Transfer Agent to deliver to the Trustee the Initial Trust Shares, as set forth in the Transfer Agent Instruction Letter. Within thirty (30) calendar days of a change in capitalization or ownership (however occurring) which results in Holder owning Shares in excess of the Buffer Threshold, Holder agrees to transfer to the Trustee all Shares which constitute Excess Shares. The Trustee shall hold a book-entry position on the records of the Transfer Agent with respect to all Trust Shares (as adjusted pursuant to the terms of this Agreement). The Trustee is hereby fully authorized and empowered to receive the allocation of the Trust Shares from the Transfer Agent, and upon such issuance, such Trust Shares shall become assets of the Voting Trust. The Company’s stock ledger shall reflect that the Trust Shares are issued pursuant to this Agreement.
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Related to Issuance of Trust Shares

  • Sale of Trust Shares 1.1 TRUST agrees to make available to the Separate Accounts of LIFE COMPANY shares of the selected Portfolios as listed in Appendix B for investment of proceeds from Variable Contracts allocated to the designated Separate Accounts, such shares to be offered as provided in TRUST's Prospectus.

  • DECLARATION OF TRUST; ISSUANCE OF CERTIFICATES Section 2.01 Creation and Declaration of Trust Fund; Conveyance of Mortgage Loans.

  • Execution and Delivery of Trust Securities Certificates At the Time of Delivery, the Administrative Trustees shall cause Trust Securities Certificates, in an aggregate Liquidation Amount as provided in Sections 2.4 and 2.5, to be executed on behalf of the Issuer Trust and delivered to or upon the written order of the Depositor, executed by one authorized officer thereof, without further corporate action by the Depositor, in authorized denominations.

  • Additional Conditions to Issuance of Certificates for Shares The Company shall not be required to issue any certificate or certificates for Shares hereunder prior to fulfillment of all the following conditions: (a) the admission of such Shares to listing on all stock exchanges on which such class of stock is then listed; (b) the completion of any registration or other qualification of such Shares under any U.S. state or federal law or under the rulings or regulations of the Securities and Exchange Commission or any other governmental regulatory body, which the Committee shall, in its absolute discretion, deem necessary or advisable; (c) the obtaining of any approval or other clearance from any U.S. state or federal governmental agency, which the Committee shall, in its absolute discretion, determine to be necessary or advisable; and (d) the lapse of such reasonable period of time following the date of vesting of the Performance Shares as the Committee may establish from time to time for reasons of administrative convenience.

  • Issuance of the Warrant Shares (a) The Company agrees that the shares of Common Stock purchased hereby shall be and are deemed to be issued to the Holder as of the close of business on the date on which this Warrant shall have been surrendered and the payment made for such Warrant Shares as aforesaid. Subject to the provisions of the next section, certificates for the Warrant Shares so purchased shall be delivered to the Holder within a reasonable time, not exceeding fifteen (15) days after the rights represented by this Warrant shall have been so exercised, and, unless this Warrant has expired, a new Warrant representing the right to purchase the number of Warrant Shares, if any, with respect to which this Warrant shall not then have been exercised shall also be delivered to the Holder within such time.

  • Number of Trustees (a) The number of Trustees shall be four, provided that the Holder of all of the Common Securities by written instrument may increase or decrease the number of Administrative Trustees. The Property Trustee and the Delaware Trustee may be the same Person.

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