Common use of Preferred Securities Clause in Contracts

Preferred Securities. The Preferred Securities to be issued pursuant to the Exchange Offer have been duly authorized by the Declaration and, when authenticated in the manner provided for in the Declaration and issued and delivered in exchange for Target Securities pursuant to the Exchange Offer and this Agreement against payment of the consideration set forth herein, will be validly issued and (subject to the terms of the Declaration) fully paid and nonassessable undivided beneficial interests in the assets of the Trust; the issuance of the Preferred Securities is not subject to preemptive or other similar rights; and holders of Preferred Securities will be entitled to the same limitation of personal liability extended to stockholders of private corporations for profit incorporated under the General Corporation Law of the State of Delaware.

Preferred Securities. The Preferred Securities to be issued pursuant to the Exchange Offer have been duly authorized by the Declaration and, when authenticated in the manner provided for in the Declaration and issued and delivered in exchange for Target Securities pursuant to the Exchange Offer and this Agreement against payment of the consideration set forth herein, will be validly issued and (subject to the terms of the Declaration) fully paid and nonassessable undivided beneficial interests in the assets of the Trust; Trust entitled to the benefits of the Declaration and the Preferred Securities Guarantee Agreement. The issuance of the Preferred Securities is not subject to preemptive or other similar rights; and holders . Holders of Preferred Securities will be entitled to the same limitation of personal liability extended to stockholders of private corporations for profit incorporated under the General Corporation Law of the State of Delaware.

Preferred Securities. The Preferred Securities to be issued pursuant to the Exchange Offer have been duly authorized by the Declaration and, when authenticated in the manner provided for in the Declaration and issued and delivered in exchange for Target Securities pursuant to the Exchange Offer and this Agreement against payment of the consideration set forth herein, will be validly issued and (subject to the terms of the Declaration) fully paid and nonassessable undivided beneficial interests in the assets of the Trust; Trust entitled to the benefits of the Declaration and the Preferred Securities Guarantee Agreement. The issuance of the Preferred Securities is not subject to preemptive or other similar rights; and holders . Holders of Preferred Securities will be entitled to the same limitation of personal liability extended to stockholders of private corporations for profit incorporated organized under the General Corporation Law of the State of Delaware.