Powers and Duties of the Property Trustee. (a) The legal title to the Partnership Preferred Securities shall be owned by and held of record in the name of the Property Trustee in trust for the benefit of the Holders of the Trust Securities. The right, title and interest of the Property Trustee to the Partnership Preferred Securities shall vest automatically in each Person who may hereafter be appointed as Property Trustee in accordance with Section 6.7. Such vesting and cessation of title shall be effective whether or not conveyancing documents with regard to the Partnership Preferred Securities have been executed and delivered.
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Samples: Trust Agreement (Hawaiian Electric Industries Inc), Trust Agreement (Hei Preferred Funding L P), Merrill Lynch Preferred Capital Trust Iv
Powers and Duties of the Property Trustee. (a) The legal title to the Partnership Preferred Securities shall be owned by and held of record in the name of the Property Trustee in trust for the benefit of the Holders of the Trust Securities. The right, title and interest of the Property Trustee to the Partnership Preferred Securities shall vest automatically in each Person who may hereafter be appointed as Property Trustee in accordance with Section 6.77.7. Such vesting and cessation of title shall be effective whether or not conveyancing documents with regard to the Partnership Preferred Securities have been executed and delivered.
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Samples: Trust Agreement (Pennsylvania Electric Co), Trust Agreement (Met Ed Capital Trust), Trust Agreement (Penelec Capital Trust)
Powers and Duties of the Property Trustee. (a) The legal title to the Partnership Company Preferred Securities shall be owned by and held of record in the name of the Property Trustee in trust for the benefit of the Holders of the Trust SecuritiesSecurities in accordance with this Trust Agreement. The right, title and interest of the Property Trustee to the Partnership Company Preferred Securities shall vest automatically in each Person who may hereafter be appointed as Property Trustee in accordance with Section 6.76.07. Such vesting and cessation of title shall be effective whether or not conveyancing documents with regard to the Partnership Company Preferred Securities have been executed and delivered.
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Samples: Trust Agreement (Abn Amro Holding N V), Trust Agreement (Abn Amro Bank Nv)
Powers and Duties of the Property Trustee. (a) The legal title to the Preferred Partnership Preferred Securities shall be owned by and held of record in the name of the Property Trustee in trust Trust for the benefit of the Holders of the Trust Securities. The right, title and interest of the Property Trustee to the Partnership Preferred Securities shall vest automatically in each Person who may hereafter be appointed as Property Trustee in accordance with Section 6.7. Such vesting and cessation of title shall be effective whether or not conveyancing documents with regard to the Partnership Preferred Securities have been executed and deliveredHolders.
Appears in 2 contracts
Samples: Trust Agreement (Texas Utilities Co /Tx/), Trust Agreement (Txu Europe Funding I L P)
Powers and Duties of the Property Trustee. (a) The legal title to the Partnership Preferred Securities shall be owned by and held of record in the name of the Property Trustee in trust for the benefit of the Holders of the Trust Securities. The right, title and interest of the Property Trustee to the Partnership 13 Preferred Securities shall vest automatically in each Person who may hereafter be appointed as Property Trustee in accordance with Section 6.77.7. Such vesting and cessation of title shall be effective whether or not conveyancing documents with regard to the Partnership Preferred Securities have been executed and delivered.
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Powers and Duties of the Property Trustee. (a) The legal title to the Partnership Preferred Company Securities shall be owned by and held of record in the name of the Property Trustee in trust for the benefit of the Holders of the Trust SecuritiesSecurities in accordance with this Trust Agreement. The right, title and interest of the Property Trustee to the Partnership Preferred Company Securities shall vest automatically in each Person who may hereafter be appointed as Property Trustee in accordance with Section 6.76.07. Such vesting and cessation of title shall be effective whether or not conveyancing documents with regard to the Partnership Preferred Company Securities have been executed and delivered.
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Samples: Trust Agreement (Abn Amro Bank Nv)
Powers and Duties of the Property Trustee. (a) The legal title to the Preferred Partnership Preferred Securities shall be owned by and held of record in the name of the Property Trustee in trust for the benefit of the Holders of the Trust SecuritiesHolders. The right, title and interest of the Property Trustee to the Preferred Partnership Preferred Securities shall vest automatically in each Person who may hereafter be appointed as Property Trustee in accordance with Section 6.76.07. Such vesting and cessation of title shall be effective whether or not conveyancing documents with regard to the Preferred Partnership Preferred Securities have been executed and delivered.
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