Common use of MUTILATED, DESTROYED, LOST OR STOLEN TRUST PREFERRED SECURITIES CERTIFICATES Clause in Contracts

MUTILATED, DESTROYED, LOST OR STOLEN TRUST PREFERRED SECURITIES CERTIFICATES. If (a) any mutilated Trust Preferred Securities Certificate shall be surrendered to the Securities Registrar, or if the Securities Registrar shall receive evidence to its satisfaction of the destruction, loss or theft of any Trust Preferred Securities Certificate and (b) there shall be delivered to the Securities Registrar and the Property Trustee such security or indemnity as may be required by them to save each of them harmless, then in the absence of notice that such Trust Preferred Securities Certificate shall have been acquired by a bona fide purchaser, the Property Trustee on behalf of the Trust shall execute and make available for delivery, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Trust Preferred Securities Certificate, a new Trust Preferred Securities Certificate of like class, tenor and denomination. In connection with the issuance of any new Trust Preferred Securities Certificate under this Section, the Property Trustee or the Securities Registrar may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. Any duplicate Trust Preferred Securities Certificate issued pursuant to this Section shall constitute conclusive evidence of an undivided beneficial ownership interest in the assets of the Trust, as if originally issued, whether or not the lost, stolen or destroyed Trust Preferred Securities Certificate shall be found at any time.

Appears in 2 contracts

Samples: Trust Agreement (Teco Energy Inc), Trust Agreement (Teco Capital Trust Iii)

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MUTILATED, DESTROYED, LOST OR STOLEN TRUST PREFERRED SECURITIES CERTIFICATES. If (a) any mutilated Trust Preferred Securities Certificate shall be surrendered to the Securities Registrar, or if the Securities Registrar shall receive evidence to its satisfaction of the destruction, loss or theft of any Trust Preferred Securities Certificate and (b) there shall be delivered to the Securities Registrar and the Property Trustee Administrative Trustees such security or indemnity as may be required by them to save each of them harmless, then in the absence of notice that such Trust Preferred Securities Certificate shall have been acquired by a bona fide purchaser, the Property Trustee Administrative Trustees, or any one of them, on behalf of the Trust shall execute and make available for delivery, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Trust Preferred Securities Certificate, a new Trust Preferred Securities Certificate of like class, tenor and denomination. In connection with the issuance of any new Trust Preferred Securities Certificate under this Section, the Property Trustee Administrative Trustees or the Securities Registrar may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. Any duplicate Trust Preferred Securities Certificate issued pursuant to this Section shall constitute conclusive evidence of an undivided beneficial ownership interest in the assets of the Trust, as if originally issued, whether or not the lost, stolen or destroyed Trust Preferred Securities Certificate shall be found at any time.

Appears in 1 contract

Samples: Trust Agreement (GBB Capital I)

MUTILATED, DESTROYED, LOST OR STOLEN TRUST PREFERRED SECURITIES CERTIFICATES. If (a) any mutilated Trust Preferred Securities Certificate shall be surrendered to the Securities Registrar, or if the Securities Registrar shall receive evidence to its satisfaction of the destruction, loss or theft of any Trust Preferred Securities Certificate and (b) there shall be delivered to the Securities Registrar and the Property Trustee such security or indemnity as may be required by them to save each of them harmless, then in the absence of notice that such Trust Preferred Securities Certificate shall have been acquired by a bona fide purchaser, the Property Trustee Depositor (or its appointee) on behalf of the Trust shall execute execute, and the Property Trustee shall authenticate, and make available for delivery, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Trust Preferred Securities Certificate, a new Trust Preferred Securities Certificate of like class, tenor and denomination. In connection with the issuance of any new Trust Preferred Securities Certificate under this Section, the Property Trustee Depositor (or its appointee) or the Securities Registrar may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. Any duplicate Trust Preferred Securities Certificate issued pursuant to this Section shall constitute conclusive evidence of an undivided beneficial ownership interest in the assets of the Trust, as if originally issued, whether or not the lost, stolen or destroyed Trust Preferred Securities Certificate shall be found at any time.

Appears in 1 contract

Samples: Trust Agreement (Teco Capital Trust Iii)

MUTILATED, DESTROYED, LOST OR STOLEN TRUST PREFERRED SECURITIES CERTIFICATES. If (a) any mutilated Trust Preferred Securities Certificate shall be surrendered to the Securities Registrar, or if the Securities Registrar shall receive evidence to its satisfaction of the destruction, loss or theft of any Trust Preferred Securities Certificate and (b) there shall be delivered to the Securities Registrar and the Property Trustee such security or indemnity as may be required by them to save each of them harmless, then in the absence of notice that such Trust Preferred Securities Certificate shall have been acquired by a bona fide purchaser, the Property Trustee on behalf of the Trust shall execute execute, authenticate and make available for delivery, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Trust Preferred Securities Certificate, a new Trust Preferred Securities Certificate of like class, tenor and denomination. In connection with the issuance of any new Trust Preferred Securities Certificate under this Section, the Property Trustee or the Securities Registrar may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. Any duplicate Trust Preferred Securities Certificate issued pursuant to this Section shall constitute conclusive evidence of an undivided beneficial ownership interest in the assets of the Trust, as if originally issued, whether or not the lost, stolen or destroyed Trust Preferred Securities Certificate shall be found at any time.

Appears in 1 contract

Samples: Trust Agreement (Teco Energy Inc)

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MUTILATED, DESTROYED, LOST OR STOLEN TRUST PREFERRED SECURITIES CERTIFICATES. If (a) any mutilated Trust Preferred Securities Certificate shall be surrendered to the Securities Registrar, or if the Securities Registrar shall receive evidence to its satisfaction of the destruction, loss or theft of any Trust Preferred Securities Certificate and (b) there shall be delivered to the Securities Registrar and the Property Trustee such security or indemnity as may be required by them to save each of them harmless, then in the absence of notice that such Trust Preferred Securities Certificate shall have been acquired by a bona fide purchaser, the Property Trustee on behalf of the Trust shall execute execute, and the Property Trustee shall authenticate, and make available for delivery, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Trust Preferred Securities Certificate, a new Trust Preferred Securities Certificate of like class, tenor and denomination. In connection with the issuance of any new Trust Preferred Securities Certificate under this Section, the Property Trustee or the Securities Registrar may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. Any duplicate Trust Preferred Securities Certificate issued pursuant to this Section shall constitute conclusive evidence of an undivided beneficial ownership interest in the assets of the Trust, as if originally issued, whether or not the lost, stolen or destroyed Trust Preferred Securities Certificate shall be found at any time.

Appears in 1 contract

Samples: Trust Agreement (Teco Energy Inc)

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