Common use of Ownership of Common Securities Clause in Contracts

Ownership of Common Securities. The Company covenants, as to each series of Securities issued to an ACE Trust in connection with the issuance of Preferred Securities and Common Securities by that ACE Trust, (a) to maintain directly or indirectly 100% ownership of the Common Securities of such ACE Trust; provided, however, that any permitted successor of the Company hereunder may succeed to the Company's ownership of such Common Securities, (b) not to voluntarily dissolve, wind-up or liquidate such ACE Trust, except in connection with (i) a distribution of the Securities of such series to the holders of Preferred Securities and Common Securities in liquidation of such ACE Trust, (ii) the redemption of all of the Preferred Securities and Common Securities of such ACE Trust or (iii) certain mergers, consolidations or amalgamations, each as permitted by the Trust Agreement of such ACE Trust and (c) to use its reasonable efforts, consistent with the terms and provisions of the related Trust Agreement, to cause such ACE Trust to remain classified as a grantor trust and not an association taxable as a corporation for United States federal income tax purposes. 84

Ownership of Common Securities. The Company covenants, as to each series of Securities issued to an ACE Trust in connection with the issuance of Preferred Securities and Common Securities by that ACE Trust, (a) to maintain directly or indirectly 100% ownership of the Common Securities of such ACE Trust; provided, however, that any permitted successor of the Company hereunder may succeed to the Company's ownership of such Common Securities, (b) not to voluntarily dissolve, wind-up or liquidate such ACE Trust, except in connection with (i) a distribution of the Securities of such series to the holders of Preferred Securities and Common Securities in liquidation of such ACE Trust, (ii) the redemption of all of the Preferred Securities and Common Securities of such ACE Trust or (iii) certain mergers, consolidations or amalgamations, each as permitted by the Trust Agreement of such ACE Trust and (c) to use its reasonable efforts, consistent with the terms and provisions of the related Trust Agreement, to cause such ACE Trust to remain classified as a grantor trust and not an association taxable as a corporation for United States federal income tax purposes. 84.

Ownership of Common Securities. The Company covenants, as to each series of Securities issued to an ACE EH Trust in connection with the issuance of Preferred Securities and Common Securities by that ACE EH Trust, (a) to maintain directly or indirectly 100% ownership of the Common Securities of such ACE EH Trust; provided, however, that any permitted successor of the Company hereunder may succeed to the Company's ownership of such Common Securities, (b) not to voluntarily dissolve, wind-up or liquidate such ACE EH Trust, except in connection with (i) a distribution of the Securities of such series to the holders of Preferred Securities and Common Securities in liquidation of such ACE EH Trust, (ii) the redemption of all of the Preferred Securities and Common Securities of such ACE EH Trust or (iii) certain mergers, consolidations or amalgamations, each as permitted by the Trust Agreement of such ACE EH Trust and (c) to use its reasonable efforts, consistent with the terms and provisions of the related Trust Agreement, to cause such ACE EH Trust to remain classified as a grantor trust and not an association taxable as a corporation for United States federal income tax purposes. 84.