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

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

Appears in 3 contracts

Samples: Sky Financial Capital Trust I, Bfoh Capital Trust I, BFD Preferred Capital Trust Ii

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

Appears in 3 contracts

Samples: BFD Preferred Capital Trust Ii, Sky Financial Capital Trust I, Cascade Financial Corp

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

Appears in 2 contracts

Samples: Puget Sound Energy Inc, Safeco Corp

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

Appears in 1 contract

Samples: Capital Securities Guarantee Agreement (MDC Holdings Inc)

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

Appears in 1 contract

Samples: Capital Securities Guarantee Agreement (Yardville Capital Trust Ii)

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

Appears in 1 contract

Samples: CNBF Capital Trust I

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

Appears in 1 contract

Samples: Safeco Corp

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