Common use of Liquidation Distribution Upon Dissolution of the Trust Clause in Contracts

Liquidation Distribution Upon Dissolution of the Trust. (a) In the event of any voluntary or involuntary liquidation, dissolution, or winding-up of the Trust (each a "Liquidation"), the Holders of the Securities on the date of the Liquidation will be entitled to receive, out of the assets of the Trust available for distribution to Holders of Securities after satisfaction of the Trusts' liabilities to creditors, if any, distributions in cash or other immediately available funds in an amount equal to the aggregate of the stated Liquidation Amount of $1,000 per Security plus accumulated and unpaid Distributions thereon to the date of payment (such amount being the "Liquidation Distribution"), unless, in connection with such Liquidation, the Debentures shall be distributed on a Pro Rata basis to the Holders of the Securities in exchange for such Securities.

Appears in 5 contracts

Samples: Trust Agreement (Markel Corp), Trust Agreement (CSX Capital Trust 1), Trust Agreement (Consolidated Natural Gas Co/Va)

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Liquidation Distribution Upon Dissolution of the Trust. (a) In the event of any voluntary or involuntary liquidation, dissolution, or winding-up of the Trust (each a "Liquidation"), the Holders of the Securities on the date of the Liquidation will be entitled to receive, out of the assets of the Trust available for distribution to Holders of Securities after satisfaction of the Trusts' liabilities to creditors, if any, distributions in cash or other immediately available funds in an amount equal to the aggregate of the stated Liquidation Amount of $1,000 per Security plus accumulated and unpaid Distributions thereon to the date of payment (such amount being the "Liquidation Distribution"), unless, in connection with such Liquidation, the Debentures shall be distributed on a Pro Rata basis to the Holders of the Securities in exchange for such Securities.

Appears in 3 contracts

Samples: Trust Agreement (Dominion Resources Capital Trust Iv), Trust Agreement (CSX Capital Trust 1), Trust Agreement (Smithfield Foods Inc)

Liquidation Distribution Upon Dissolution of the Trust. (a) In the event of any voluntary or involuntary liquidation, dissolution, or winding-up of the Trust (each a "Liquidation"), the Holders of the Securities on the date of the Liquidation will be entitled to receive, out of the assets of the Trust available for distribution to Holders of Securities after satisfaction of the Trusts' liabilities to creditors, if any, distributions in cash or other immediately available funds in an amount equal to the aggregate of the stated Liquidation Amount of $1,000 __ per Security plus accumulated and unpaid Distributions thereon to the date of payment (such amount being the "Liquidation Distribution"), unless, in connection with such Liquidation, the Debentures shall be distributed on a Pro Rata basis to the Holders of the Securities in exchange for such Securities.

Appears in 1 contract

Samples: Trust Agreement (Dominion CNG Capital Trust Ii)

Liquidation Distribution Upon Dissolution of the Trust. (a) (a) In the event of any voluntary or involuntary liquidation, dissolution, or winding-up of the Trust (each a "Liquidation"), the Holders of the Securities on the date of the Liquidation will be entitled to receive, out of the assets of the Trust available for distribution to Holders of Securities after satisfaction of the Trusts' Trust's liabilities to creditors, if any, distributions in cash or other immediately available funds in an amount equal to the aggregate of the stated Liquidation Amount liquidation amount of $1,000 __________ per Security plus accumulated and unpaid Distributions thereon to the date of payment (such amount being the "Liquidation Distribution"), unless, in connection with such Liquidation, the Debentures shall be distributed on a Pro Rata basis to the Holders of the Securities in exchange for such Securities.payment

Appears in 1 contract

Samples: Trust Agreement (Banknorth Capital Trust Ii)

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Liquidation Distribution Upon Dissolution of the Trust. (a) In the event of any voluntary or involuntary liquidation, dissolution, or winding-up of the Trust (each a "Liquidation"), the Holders of the Securities on the date of the Liquidation will be entitled to receive, out of the assets of the Trust available for distribution to Holders of Securities after satisfaction of the Trusts' liabilities to creditors, if any, distributions in cash or other immediately available funds in an amount equal to the aggregate of the stated Liquidation Amount of $1,000 25 per Security plus accumulated and unpaid Distributions thereon to the date of payment (such amount being the "Liquidation Distribution"), unless, in connection with such Liquidation, the Debentures shall be distributed on a Pro Rata basis to the Holders of the Securities in exchange for such Securities.

Appears in 1 contract

Samples: Trust Agreement (Dominion Resources Inc /Va/)

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