Common use of Preferential Collection of Claims Clause in Contracts

Preferential Collection of Claims. Against Depositor or ------------------------------------------------------ Trust. ----- If and when the Property Trustee or the Delaware Trustee shall be or become a creditor of the Depositor or the Trust (or any other obligor upon the Debentures or the Trust Securities), the Property Trustee or the Delaware Trustee, as the case may be, shall be subject to and shall take all actions necessary in order to comply with the provisions of the Trust Indenture Act regarding the collection of claims against the Depositor or Trust (or any such other obligor).

Appears in 2 contracts

Samples: Trust Agreement (Wisconsin Energy Corp), Trust Agreement (Applied Power Capital Trust Ii)

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Preferential Collection of Claims. Against the Depositor or ------------------------------------------------------ ---------------------------------------------------------- the Trust. ----- If and when the Property Trustee or the Delaware Trustee shall be or --------- become a creditor of the Depositor or the Trust (or any other obligor upon the Debentures or the Trust Securities), the Property Trustee or the Delaware Trustee, as the case may be, shall be subject to and shall take all actions necessary in order to comply with the provisions of the Trust Indenture Act regarding the collection of claims against the Depositor or the Trust (or any such other obligor).

Appears in 2 contracts

Samples: Trust Agreement (Abc Bancorp Capital Trust I), Trust Agreement (Abc Bancorp Capital Trust I)

Preferential Collection of Claims. Against the Depositor or ------------------------------------------------------ the -------------------------------------------------------------- Trust. ----- If and when the Property Trustee or the Delaware Trustee shall be or ----- become a creditor of the Depositor or the Trust (or any other obligor upon the Debentures or the Trust Securities), the Property Trustee or the Delaware Trustee, as the case may be, shall be subject to and shall take all actions necessary in order to comply with the provisions of the Trust Indenture Act regarding the collection of claims against the Depositor or the Trust (or any such other obligor).

Appears in 1 contract

Samples: Trust Agreement (Ctbi Preferred Capital Trust Ii)

Preferential Collection of Claims. Against Depositor or ------------------------------------------------------ Trust. ----- ------ If and when the Property Trustee or the Delaware Trustee shall be or become a creditor of the Depositor or the Trust (or any other obligor upon the Debentures or the Trust Securities), the Property Trustee or the Delaware Trustee, as the case may be, shall be subject to and shall take all actions necessary in order to comply with the provisions of the Trust Indenture Act regarding the collection of claims against the Depositor or Trust (or any such other obligor).

Appears in 1 contract

Samples: Trust Agreement (Wec Capital Trust Ii)

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Preferential Collection of Claims. Against Depositor or ------------------------------------------------------ Trust. ----- -------------------------- If and when the Property Trustee or the Delaware Trustee shall be or become a creditor of the Depositor or the Trust (or any other obligor upon the Debentures or the Trust Securities), the Property Trustee or the Delaware Trustee, as the case may be, shall be subject to and shall take all actions necessary in order to comply with the provisions of the Trust Indenture Act regarding the collection of claims against the Depositor or Trust (or any such other obligor).

Appears in 1 contract

Samples: Trust Agreement (Hartford Capital Ii /De/)

Preferential Collection of Claims. Against Depositor or ------------------------------------------------------ the ---------------------------------------------------------- Trust. ----- If and when the Property Trustee or the Delaware Trustee shall be or become a creditor of the ----- Depositor or of the Trust (or any other obligor upon the Debentures or the Trust Capital Securities), the Property Trustee or the Delaware Trustee, as the case may be, shall be subject to and shall take all actions necessary in order to comply with the provisions of the Trust Indenture Act regarding the collection of claims against the Depositor or the Trust (( or any such other obligor).

Appears in 1 contract

Samples: Trust Agreement (PMC Capital I)

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