Common use of Powers and Duties of the Capital Guarantee Trustee Clause in Contracts

Powers and Duties of the Capital Guarantee Trustee. (a) This Capital Securities Guarantee shall be held by the Capital Guarantee Trustee for the benefit of the Holders, and the Capital Guarantee Trustee shall not transfer its right, title and interest in this Capital Securities Guarantee to any Person except a Holder exercising his or her rights pursuant to Section 5.4(b) or to a Successor Capital Guarantee Trustee on acceptance by such Successor Capital Guarantee Trustee of its appointment to act as Successor Capital Guarantee Trustee. The right, title and interest of the Capital Guarantee Trustee shall automatically vest in any Successor Capital Guarantee Trustee, and such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Capital Guarantee Trustee.

Appears in 31 contracts

Samples: Capital Securities Guarantee Agreement (Citigroup Capital XXII), Capital Securities Guarantee Agreement (Citigroup Capital XIX), Securities Guarantee Agreement (Citigroup Capital XIX)

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Powers and Duties of the Capital Guarantee Trustee. (a) This Capital Securities Guarantee shall be held by the Capital Guarantee Trustee for the benefit of the HoldersHolders of the Capital Securities, and the Capital Guarantee Trustee shall not transfer its right, title and interest in this Capital Securities Guarantee to any Person except a Holder of Capital Securities exercising his or her rights pursuant to Section 5.4(b) or to a Successor Capital Guarantee Trustee on acceptance by such Successor Capital Guarantee Trustee of its appointment to act as Successor Capital Guarantee Trustee. The right, title and interest of the Capital Guarantee Trustee shall automatically vest in any Successor Capital Guarantee Trustee, and such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Capital Guarantee Trustee.

Appears in 6 contracts

Samples: Capital Securities Guarantee Agreement (Community First Bankshares Inc), Capital Securities Guarantee Agreement (Community First Bankshares Inc), Securities Guarantee Agreement (Allstate Corp)

Powers and Duties of the Capital Guarantee Trustee. (a) This Capital Securities Guarantee Agreement shall be held by the Capital Guarantee Trustee for the benefit of the HoldersHolders of the Capital Securities, and the Capital Guarantee Trustee shall not transfer its right, title and interest in this Capital Securities Guarantee Agreement to any Person except a Holder of Capital Securities exercising his or her rights pursuant to Section 5.4(b) or to a Successor Capital Guarantee Trustee on acceptance by such Successor Capital Guarantee Trustee of its appointment to act as Successor Capital Guarantee Trustee. The right, title and interest of the Capital Guarantee Trustee shall automatically vest in any Successor Capital Guarantee Trustee, and such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Capital Guarantee Trustee.

Appears in 2 contracts

Samples: Capital Securities Guarantee Agreement (Great Western Financial Trust Iii), Capital Securities Guarantee Agreement (Great Western Financial Corp)

Powers and Duties of the Capital Guarantee Trustee. (a) This Capital Securities Guarantee shall be held by the Capital Guarantee Trustee for the benefit of the HoldersHolders of the Capital Securities, and the Capital Guarantee Trustee shall not transfer its right, title and interest in this Capital Securities Guarantee to any Person except a Holder of Capital Securities exercising his or her such Holder's rights pursuant to Section 5.4(b) or to a Successor Capital Guarantee Trustee on acceptance by such Successor Capital Guarantee Trustee of its appointment to act as Successor Capital Guarantee Trustee. The right, title and interest of the Capital Guarantee Trustee shall automatically vest in any Successor Capital Guarantee Trustee, and such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Capital Guarantee Trustee.

Appears in 2 contracts

Samples: Securities Guarantee Agreement (VBC Capital I), Securities Guarantee Agreement (VBC Capital I)

Powers and Duties of the Capital Guarantee Trustee. (a) This Capital Securities Guarantee shall be held by the Capital Guarantee Trustee for the benefit of the Holders, and the Capital Guarantee Trustee shall not transfer its right, title and interest in this Capital Securities Guarantee to any Person except a Holder exercising his or her rights pursuant to Section 5.4(b) or to a Successor successor Capital Guarantee Trustee on acceptance by such Successor successor Capital Guarantee Trustee of its appointment to act as Successor successor Capital Guarantee Trustee. The right, title and interest of the Capital Guarantee Trustee shall automatically vest in any Successor successor Capital Guarantee Trustee, and such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered pursuant to the appointment of such Successor successor Capital Guarantee Trustee.

Appears in 1 contract

Samples: Capital Securities Guarantee Agreement (PNC Capital Trust G)

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Powers and Duties of the Capital Guarantee Trustee. (a) This Capital Securities Guarantee shall be held by the Capital Guarantee Trustee in trust for the benefit of the Holders, and the Capital Guarantee Trustee shall not transfer its right, title and interest in this Capital Securities Guarantee to any Person except a Holder exercising his or her rights pursuant to Section 5.4(b5.4(d) or to a Successor Capital Guarantee Trustee on acceptance by such Successor Capital Guarantee Trustee of its appointment to act as Successor Capital Guarantee Trustee. The right, title and interest of the Capital Guarantee Trustee shall automatically vest in any Successor Capital Guarantee Trustee, and such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Capital Guarantee Trustee.

Appears in 1 contract

Samples: Capital Securities Guarantee Agreement (Fleet Financial Group Inc)

Powers and Duties of the Capital Guarantee Trustee. (a) This Capital Securities Guarantee Agreement shall be held by the Capital Guarantee Trustee for the benefit of the Holders, Holders of the Capital Securities and the Capital Guarantee Trustee shall not transfer its right, title and interest in this Capital Securities Guarantee Agreement to any Person except a Holder of Capital Securities exercising his or her rights pursuant to Section 5.4(b) or to a Successor Capital Guarantee Trustee on acceptance by such Successor Capital Guarantee Trustee of its appointment to act as Successor Capital Guarantee Trustee. The right, title and interest of the Capital Guarantee Trustee shall automatically vest in any Successor Capital Guarantee Trustee, Trustee and such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Capital Guarantee Trusteedelivered.

Appears in 1 contract

Samples: Securities Guarantee Agreement (Household International Inc)

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