Common use of Permissible Distributions Clause in Contracts

Permissible Distributions. In determining whether a distribution (other than upon liquidation, dissolution or winding up), whether by dividend, or upon redemption or other acquisition of shares or otherwise, is permitted under Maryland law, amounts that would be needed, if the Trust were to be dissolved at the time of the distribution, to satisfy the preferential rights upon dissolution of holders of any class or series of shares of beneficial interest whose preferential rights upon dissolution are superior or prior to those receiving the distribution shall not be added to the Trust’s total liabilities. SECOND: The Series D Preferred Shares have been classified and designated by the Board under the authority contained in the Declaration of Trust.

Permissible Distributions. In determining whether a distribution (other than upon liquidation, dissolution or winding up), whether by dividend, or upon redemption or other acquisition of shares or otherwise, is permitted under Maryland law, amounts that would be needed, if the Trust Company were to be dissolved at the time of the distribution, to satisfy the preferential rights upon dissolution of holders of shares of any class or series of shares of beneficial interest stock whose preferential rights upon dissolution are superior or prior to those receiving the distribution shall not be added to the TrustCompany’s total liabilities. SECOND: The Series D A Preferred Shares have Stock has been classified and designated by the Board under the authority contained in the Declaration of TrustCharter.

Permissible Distributions. In determining whether a distribution (other than upon liquidation, dissolution or winding up), whether by dividend, or upon redemption or other acquisition of shares or otherwise, is permitted under Maryland law, amounts that would be needed, if the Trust were to be dissolved at the time of the distribution, to satisfy the preferential rights upon dissolution of holders of any class or series of shares of beneficial interest whose preferential rights upon dissolution are superior or prior to those receiving the distribution shall not be added to the Trust’s total liabilities. SECOND: The Series D A Preferred Shares have been classified and designated by the Board under the authority contained in the Declaration of Trust.

Permissible Distributions. In determining whether a distribution (other than upon liquidation, dissolution or winding up), whether by dividend, or upon redemption or other acquisition of shares or otherwise, is permitted under Maryland law, amounts that would be needed, if the Trust Corporation were to be dissolved at the time of the distribution, to satisfy the preferential rights upon dissolution of holders of shares of any class or series of shares of beneficial interest stock whose preferential rights upon dissolution are superior or prior to those receiving the distribution shall not be added to the TrustCorporation’s total liabilities. SECOND: The Series D E Preferred Shares have Stock has been classified and designated by the Board under the authority contained in the Declaration of TrustCharter.

Permissible Distributions. In determining whether a distribution (other than upon liquidation, dissolution or winding up), whether by dividend, or upon redemption or other acquisition of shares or otherwise, is permitted under Maryland law, amounts that would be needed, if the Trust Company were to be dissolved at the time of the distribution, to satisfy the preferential rights upon dissolution of holders of shares of any class or series of shares of beneficial interest stock whose preferential rights upon dissolution are superior or prior to those receiving the distribution shall not be added to the TrustCompany’s total liabilities. SECOND: The Series D B Preferred Shares have Stock has been classified and designated by the Board under the authority contained in the Declaration of TrustCharter.