Common use of Qualifying Treasury Securities Clause in Contracts

Qualifying Treasury Securities. (a) The Administrative Trustees or any one of them shall, for each [ ], [ ], [ ]and [ ], commencing on [ ] and ending on the Stock Purchase Date or the earlier termination of the Stock Purchase Contracts, or if any such day is not a Business Day, the next Business Day (each, a “Reference Date”) identify: (i) the 13-week treasury bxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (ii) if no 13-week treasury bxxx that matures at least one and not more than six Business Days prior to that Reference Date is or is scheduled to be outstanding on the immediately preceding Reference Date, the 26-week treasury bxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (iii) if neither of such treasury bills is or is scheduled to be outstanding on the immediately preceding Reference Date, any other treasury security (which may be a zero coupon treasury security) that is outstanding on the immediately preceding Reference Date, is highly liquid and matures at least one Business Day prior to such Reference Date; provided, however, that any treasury security identified pursuant to this clause (iii) shall be selected in a manner intended to minimize the cash value of the security selected. (b) The Administrative Trustees shall use commercially reasonable efforts to identify the security meeting the foregoing criteria for each Reference Date promptly after the Department of the Treasury makes the schedule for upcoming auctions of treasury securities publicly available and shall, to the extent that a security previously identified with respect to any Reference Date is no longer expected to be outstanding on the immediately preceding Reference Date, identify another security meeting the foregoing criteria for such Reference Date. The security most recently identified by the Administrative Trustees or any one of them with respect to any Reference Date shall be the “Qualifying Treasury Security” with respect to the period from and including its date of issuance (or if later, the date of maturity of the Qualifying Treasury Security with respect to the immediately preceding Reference Date) to but excluding its date of maturity, and the Administrative Trustees’ identification of a security as a Qualifying Treasury Security for such period shall be final and binding for all purposes absent manifest error. The Administrative Trustees or any one of them shall give (or cause to be given) prompt written notice to the Depositor, the Collateral Agent, the Custodial Agent and the Property Trustee of each determination made pursuant to this Section 10.1. The Qualifying Treasury Security for the period from and including the date hereof to but excluding its date of maturity will be the US Treasury bxxx issued [ ] and due on [ ], CUSIP No. [ ].

Appears in 3 contracts

Samples: Trust Agreement (National City Corp), Trust Agreement (National City Corp), Trust Agreement (National City Corp)

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Qualifying Treasury Securities. (a) The Administrative Trustees or any one of them shallFor each February 28, for each [ ]May 31, [ ], [ ]August 31 and [ ]November 30, commencing on [ ] May 31, 2007 and ending on the Stock Purchase Date or the earlier termination of the Stock Purchase Contracts, or if any such day is not a Business Day, the next immediately succeeding Business Day (each, a “Reference Quarterly Date”) ), the Collateral Agent shall identify: (i) the 13-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Quarterly Date, or (ii) if no 13-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Quarterly Date is or is scheduled to be outstanding or is available in a sufficient principal amount on the immediately preceding Reference Quarterly Date, the 26-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Quarterly Date, or (iii) if neither of such treasury bills is or is scheduled to be outstanding or is available in a sufficient principal amount on the immediately preceding Reference Quarterly Date, any other treasury security (which may be a zero coupon treasury security) that is outstanding on the immediately preceding Reference Quarterly Date, is highly liquid and matures at least one Business Day prior to such Reference Quarterly Date; provided, however, provided that any treasury security identified pursuant to this clause (iii) shall be selected in a manner intended to minimize the cash value of the security selected. (b) The Administrative Trustees Collateral Agent shall use commercially reasonable efforts to identify the security meeting the foregoing criteria for each Reference Quarterly Date promptly after the Department of the Treasury makes the schedule for upcoming auctions of treasury securities publicly available and shall, to the extent that a security previously identified with respect to any Reference Quarterly Date is no longer expected to be outstanding on the immediately preceding Reference Quarterly Date, identify another security meeting the foregoing criteria for such Reference Quarterly Date. The security most recently identified by the Administrative Trustees or any one of them Collateral Agent with respect to any Reference Quarterly Date shall be the “Qualifying Treasury Security” with respect to the period from and including its date of issuance (or if later, the date of maturity of the Qualifying Treasury Security with respect to the immediately preceding Reference Quarterly Date) to but excluding its date of maturity, and the Administrative Trustees’ Collateral Agent’s identification of a security as a Qualifying Treasury Security for such period shall be final and binding for all purposes absent manifest error. The Administrative Trustees or any one of them Collateral Agent shall give (or cause to be given) prompt written notice to the Depositor, the Collateral Agent, the Custodial Agent Company and the Property Trustee Stock Purchase Contract Agent of each determination made pursuant to this Section 10.1. The Qualifying Treasury Security for the period from and including the date hereof to but excluding its date of maturity will be the US Treasury bxxx issued [ ] and due on [ ], CUSIP No. [ ]5.1.

Appears in 2 contracts

Samples: Stock Purchase Contract (Lehman Brothers Holdings Inc), Stock Purchase Contract (Lehman Brothers Holdings Inc)

Qualifying Treasury Securities. (a) The Administrative Trustees or any one of them shall, for each [ ]March 15, [ ]June 15, [ ]September 15 and [ ]December 15, commencing on [ ] June 15, 2008 and ending on the Stock Purchase Date or the earlier termination of the Stock Purchase Contracts, or if any such day is not a Business Day, the next Business Day (each, a “Reference Date”) identify: (i) the 13-week treasury bxxx U.S. Treasury xxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (ii) if no 13-week treasury bxxx U.S. Treasury xxxx that matures at least one and not more than six Business Days prior to that Reference Date is or is scheduled to be outstanding on the immediately preceding Reference Date, the 26-week treasury bxxx U.S. Treasury xxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (iii) if neither of such treasury U.S. Treasury bills is or is scheduled to be outstanding on the immediately preceding Reference Date, any other treasury U.S. Treasury security (which may be a zero coupon treasury U.S. Treasury security) that is outstanding on the immediately preceding Reference Date, is highly liquid and matures at least one Business Day prior to such Reference Date; provided, however, that any treasury U.S. Treasury security identified pursuant to this clause (iii) shall be selected in a manner intended to minimize the cash value of the security selected. (b) The Administrative Trustees shall use commercially reasonable efforts to identify the security meeting the foregoing criteria for each Reference Date promptly after the Department of the Treasury makes the schedule for upcoming auctions of treasury U.S. Treasury securities publicly available and shall, to the extent that a security previously identified with respect to any Reference Date is no longer expected to be outstanding on the immediately preceding Reference Date, identify another security meeting the foregoing criteria for such Reference Date. The security most recently identified by the Administrative Trustees or any one of them with respect to any Reference Date shall be the “Qualifying Treasury Security” with respect to the period from and including its date of issuance (or if later, the date of maturity of the Qualifying Treasury Security with respect to the immediately preceding Reference Date) to but excluding its date of maturity, and the Administrative Trustees’ identification of a security as a Qualifying Treasury Security for such period shall be final and binding for all purposes absent manifest error. The Administrative Trustees or any one of them shall give (or cause to be given) prompt written notice to the DepositorCompany, the Collateral Agent, the Custodial Agent and the Property Trustee of each determination made pursuant to this Section 10.1. The Qualifying Treasury Security for the period from and including the date hereof to but excluding its date of maturity will be the US Treasury bxxx xxxx issued [ ] December 13, 2007 and due on [ ]June 12, 2008, CUSIP No. [ ]000000X00.

Appears in 1 contract

Samples: Trust Agreement (State Street Corp)

Qualifying Treasury Securities. (a) The Administrative Trustees or any one of them shall, for each [ ]March 26, [ ]June 26, [ ]September 26, and [ ]December 26, commencing on [ ] December 26, 2008 and ending on the Stock Purchase Date or the earlier termination of the Stock Purchase Contracts, or if any such day is not a Business Day, the next Business Day (each, a “Reference Date”) identify: (i) the 13-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (ii) if no 13-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date is or is scheduled to be outstanding on the immediately preceding Reference Date, the 26-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (iii) if neither of such treasury bills is or is scheduled to be outstanding on the immediately preceding Reference Date, any other treasury security (which may be a zero coupon treasury security) that is outstanding on the immediately preceding Reference Date, is highly liquid and matures at least one Business Day prior to such Reference Date; provided, however, that any treasury security identified pursuant to this clause (iii) shall be selected in a manner intended to minimize the cash value of the security selected. (b) The Administrative Trustees shall use commercially reasonable efforts to identify the security meeting the foregoing criteria for each Reference Date promptly after the Department of the Treasury makes the schedule for upcoming auctions of treasury securities publicly available and shall, to the extent that a security previously identified with respect to any Reference Date is no longer expected to be outstanding on the immediately preceding Reference Date, identify another security meeting the foregoing criteria for such Reference Date. The security most recently identified by the Administrative Trustees or any one of them with respect to any Reference Date shall be the “Qualifying Treasury Security” with respect to the period from and including its date of issuance (or if later, the date of maturity of the Qualifying Treasury Security with respect to the immediately preceding Reference Date) to but excluding its date of maturity, and the Administrative Trustees’ identification of a security as a Qualifying Treasury Security for such period shall be final and binding for all purposes absent manifest error. The Administrative Trustees or any one of them shall give (or cause to be given) prompt written notice to the Depositor, the Collateral Agent, the Custodial Agent and the Property Trustee of each determination made pursuant to this Section 10.1. The Qualifying Treasury Security for the period from and including the date hereof to but excluding its date of maturity will be the US Treasury bxxx xxxx issued [ ] on June 19, 2008 and due on [ ]December 18, 2008, CUSIP No. [ ]000000X00.

Appears in 1 contract

Samples: Trust Agreement (Wells Fargo & Co/Mn)

Qualifying Treasury Securities. (a) The Administrative Trustees or any one of them shall, for each [ ], [ ], [ ]and [ ], commencing on [ ] and ending on the Stock Purchase Date or the earlier termination of the Stock Purchase Contracts, or if any such day is not a Business Day, the next Business Day (each, a “Reference Date”) identify: (i) the 13-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (ii) if no 13-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date is or is scheduled to be outstanding on the immediately preceding Reference Date, the 26-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (iii) if neither of such treasury bills is or is scheduled to be outstanding on the immediately preceding Reference Date, any other treasury security (which may be a zero coupon treasury security) that is outstanding on the immediately preceding Reference Date, is highly liquid and matures at least one Business Day prior to such Reference Date; provided, however, that any treasury security identified pursuant to this clause (iii) shall be selected in a manner intended to minimize the cash value of the security selected. (b) The Administrative Trustees shall use commercially reasonable efforts to identify the security meeting the foregoing criteria for each Reference Date promptly after the Department of the Treasury makes the schedule for upcoming auctions of treasury securities publicly available and shall, to the extent that a security previously identified with respect to any Reference Date is no longer expected to be outstanding on the immediately preceding Reference Date, identify another security meeting the foregoing criteria for such Reference Date. The security most recently identified by the Administrative Trustees or any one of them with respect to any Reference Date shall be the “Qualifying Treasury Security” with respect to the period from and including its date of issuance (or if later, the date of maturity of the Qualifying Treasury Security with respect to the immediately preceding Reference Date) to but excluding its date of maturity, and the Administrative Trustees’ identification of a security as a Qualifying Treasury Security for such period shall be final and binding for all purposes absent manifest error. The Administrative Trustees or any one of them shall give (or cause to be given) prompt written notice to the Depositor, the Collateral Agent, the Custodial Agent and the Property Trustee of each determination made pursuant to this Section 10.1. The Qualifying Treasury Security for the period from and including the date hereof to but excluding its date of maturity will be the US Treasury bxxx xxxx issued [ ] and due on [ ], CUSIP No. [ ].

Appears in 1 contract

Samples: Trust Agreement (Wells Fargo Capital XVIII)

Qualifying Treasury Securities. (a) The Administrative Trustees or any one of them shall, for each [ ]March 20, [ ]June 20, [ ]September 20 and [ ]December 20, commencing on [ ] September 20, 2007 and ending on the Stock Purchase Date or the earlier termination of the Stock Purchase Contracts, or if any such day is not a Business Day, the next Business Day (each, a “Reference Date”) identify: (i) the 13-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (ii) if no 13-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date is or is scheduled to be outstanding on the immediately preceding Reference Date, the 26-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (iii) if neither of such treasury bills is or is scheduled to be outstanding on the immediately preceding Reference Date, any other treasury security (which may be a zero coupon treasury security) that is outstanding on the immediately preceding Reference Date, is highly liquid and matures at least one Business Day prior to such Reference Date; provided, however, that any treasury security identified pursuant to this clause (iii) shall be selected in a manner intended to minimize the cash value of the security selected. (b) The Administrative Trustees shall use commercially reasonable efforts to identify the security meeting the foregoing criteria for each Reference Date promptly after the Department of the Treasury makes the schedule for upcoming auctions of treasury securities publicly available and shall, to the extent that a security previously identified with respect to any Reference Date is no longer expected to be outstanding on the immediately preceding Reference Date, identify another security meeting the foregoing criteria for such Reference Date. The security most recently identified by the Administrative Trustees or any one of them with respect to any Reference Date shall be the “Qualifying Treasury Security” with respect to the period from and including its date of issuance (or if later, the date of maturity of the Qualifying Treasury Security with respect to the immediately preceding Reference Date) to but excluding its date of maturity, and the Administrative Trustees’ identification of a security as a Qualifying Treasury Security for such period shall be final and binding for all purposes absent manifest error. The Administrative Trustees or any one of them shall give (or cause to be given) prompt written notice to the DepositorCompany, the Collateral Agent, the Custodial Agent and the Property Trustee of each determination made pursuant to this Section 10.1. The Qualifying Treasury Security for the period from and including the date hereof to but excluding its date of maturity will be the US Treasury bxxx xxxx issued [ ] and due on [ ], CUSIP No. [ ].•. TRUST AGREEMENT

Appears in 1 contract

Samples: Trust Agreement (Mellon Financial Corp)

Qualifying Treasury Securities. (a) The Administrative Trustees or any one of them shall, for each [ ]March 26, [ ]June 26, [ ]September 26, and [ ]December 26, commencing on [ ] September 26, 2008 and ending on the Stock Purchase Date or the earlier termination of the Stock Purchase Contracts, or if any such day is not a Business Day, the next Business Day (each, a “Reference Date”) identify: (i) the 13-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (ii) if no 13-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date is or is scheduled to be outstanding on the immediately preceding Reference Date, the 26-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (iii) if neither of such treasury bills is or is scheduled to be outstanding on the immediately preceding Reference Date, any other treasury security (which may be a zero coupon treasury security) that is outstanding on the immediately preceding Reference Date, is highly liquid and matures at least one Business Day prior to such Reference Date; provided, however, that any treasury security identified pursuant to this clause (iii) shall be selected in a manner intended to minimize the cash value of the security selected. (b) The Administrative Trustees shall use commercially reasonable efforts to identify the security meeting the foregoing criteria for each Reference Date promptly after the Department of the Treasury makes the schedule for upcoming auctions of treasury securities publicly available and shall, to the extent that a security previously identified with respect to any Reference Date is no longer expected to be outstanding on the immediately preceding Reference Date, identify another security meeting the foregoing criteria for such Reference Date. The security most recently identified by the Administrative Trustees or any one of them with respect to any Reference Date shall be the “Qualifying Treasury Security” with respect to the period from and including its date of issuance (or if later, the date of maturity of the Qualifying Treasury Security with respect to the immediately preceding Reference Date) to but excluding its date of maturity, and the Administrative Trustees’ identification of a security as a Qualifying Treasury Security for such period shall be final and binding for all purposes absent manifest error. The Administrative Trustees or any one of them shall give (or cause to be given) prompt written notice to the Depositor, the Collateral Agent, the Custodial Agent and the Property Trustee of each determination made pursuant to this Section 10.1. The Qualifying Treasury Security for the period from and including the date hereof to but excluding its date of maturity will be the US Treasury bxxx xxxx issued [ ] on March 27, 2008 and due on [ ]September 25, 2008, CUSIP No. [ ].000000X00. TRUST AGREEMENT

Appears in 1 contract

Samples: Trust Agreement (Wells Fargo & Co/Mn)

Qualifying Treasury Securities. (a) The Administrative Trustees or any one of them shall, for each [ ]January 15, [ ]April 15, [ ]July 15 and [ ]October 15, commencing on [ ] July 15, 2006 and ending on the Stock Purchase Date or the earlier termination of the Stock Purchase Contracts, or if any such day is not a Business Day, the next immediately succeeding Business Day (each, a “Reference Date”) identify: (i) the 13-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (ii) if no 13-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date is or is scheduled to be outstanding on the immediately preceding Reference Date, the 26-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (iii) if neither of such treasury bills is or is scheduled to be outstanding on the immediately preceding Reference Date, any other treasury security (which may be a zero coupon treasury security) that is outstanding on the immediately preceding Reference Date, is highly liquid and matures at least one Business Day prior to such Reference Date; provided, however, Trust Agreement provided that any treasury security identified pursuant to this clause (iii) shall be selected in a manner intended to minimize the cash value of the security selected. (b) The Administrative Trustees or any one of them shall use commercially reasonable efforts to identify the security meeting the foregoing criteria for each Reference Date promptly after the Department of the Treasury makes the schedule for upcoming auctions of treasury securities publicly available and shall, to the extent that a security previously identified with respect to any Reference Date is no longer expected to be outstanding on the immediately preceding Reference Date, identify another security meeting the foregoing criteria for such Reference Date. The security most recently identified by the Administrative Trustees or any one of them with respect to any Reference Date shall be the “Qualifying Treasury Security” with respect to the period from and including its date of issuance (or if later, the date of maturity of the Qualifying Treasury Security with respect to the immediately preceding Reference Date) to but excluding its date of maturity, and the Administrative Trustees’ identification of a security as a Qualifying Treasury Security for such period shall be final and binding for all purposes absent manifest error. The Administrative Trustees or any one of them shall give (or cause to be given) prompt written notice to the DepositorCompany, the Collateral Agent, the Custodial Agent and the Property Trustee of each determination made pursuant to this Section 10.1. The Qualifying Treasury Security for the period from and including the date hereof to but excluding its date of maturity will be the US Treasury bxxx issued [ ] and due on [ ], CUSIP No. [ ].

Appears in 1 contract

Samples: Trust Agreement (Us Bancorp \De\)

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Qualifying Treasury Securities. (a) The Administrative Trustees or any one of them shall, for each [ ], [ ], [ ], and [ ], commencing on [ ] and ending on the Stock Purchase Date or the earlier termination of the Stock Purchase Contracts, or if any such day is not a Business Day, the next Business Day (each, a “Reference Date”) identify: (i) the 13-week treasury bxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (ii) if no 13-week treasury bxxx that matures at least one and not more than six Business Days prior to that Reference Date is or is scheduled to be outstanding on the immediately preceding Reference Date, the 26-week treasury bxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (iii) if neither of such treasury bills is or is scheduled to be outstanding on the immediately preceding Reference Date, any other treasury security (which may be a zero coupon treasury security) that is outstanding on the immediately preceding Reference Date, is highly liquid and matures at least one Business Day prior to such Reference Date; provided, however, that any treasury security identified pursuant to this clause (iii) shall be selected in a manner intended to minimize the cash value of the security selected. (b) The Administrative Trustees shall use commercially reasonable efforts to identify the security meeting the foregoing criteria for each Reference Date promptly after the Department of the Treasury makes the schedule for upcoming auctions of treasury securities publicly available and shall, to the extent that a security previously identified with respect to any Reference Date is no longer expected to be outstanding on the immediately preceding Reference Date, identify another security meeting the foregoing criteria for such Reference Date. The security most recently identified by the Administrative Trustees or any one of them with respect to any Reference Date shall be the “Qualifying Treasury Security” with respect to the period from and including its date of issuance (or if later, the date of maturity of the Qualifying Treasury Security with respect to the immediately preceding Reference Date) to but excluding its date of maturity, and the Administrative Trustees’ identification of a security as a Qualifying Treasury Security for such period shall be final and binding for all purposes absent manifest error. The Administrative Trustees or any one of them shall give (or cause to be given) prompt written notice to the Depositor, the Collateral Agent, the Custodial Agent and the Property Trustee of each determination made pursuant to this Section 10.1. The Qualifying Treasury Security for the period from and including the date hereof to but excluding its date of maturity will be the US Treasury bxxx issued [ ] and due on [ ], CUSIP No. [ ].

Appears in 1 contract

Samples: Trust Agreement (Huntington Bancshares Inc/Md)

Qualifying Treasury Securities. (a) The Administrative Trustees or any one of them shall, for each [ ]March 15, [ ]June 15, [ ]September 15 and [ ]December 15, commencing on [ ] March 15, 2006 and ending on the Stock Purchase Date or the earlier termination of the Stock Purchase Contracts, or if any such day is not a Business Day, the next immediately succeeding Business Day (each, a “Reference Date”) identify: (i) the 13-week treasury bxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (ii) if no 13-week treasury bxxx that matures at least one and not more than six Business Days prior to that Reference Date is or is scheduled to be outstanding on the immediately preceding Reference Date, the 26-week treasury bxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (iii) if neither of such treasury bills is or is scheduled to be outstanding on the immediately preceding Reference Date, any other treasury security (which may be a zero coupon treasury security) that is outstanding on the immediately preceding Reference Date, is highly liquid and matures at least one Business Day prior to such Reference Date; provided, however, provided that any treasury security identified pursuant to this clause (iii) shall be selected in a manner intended to minimize the cash value of the security selected. (b) The Administrative Trustees or any one of them shall use commercially reasonable efforts to identify the security meeting the foregoing criteria for each Reference Date promptly after the Department of the Treasury makes the schedule for upcoming auctions of treasury securities publicly available and shall, to the extent that a security previously identified with respect to any Reference Date is no longer expected to be outstanding on the immediately preceding Reference Date, identify another security meeting the foregoing criteria for such Reference Date. The security most recently identified by the Administrative Trustees or any one of them with respect to any Reference Date shall be the “Qualifying Treasury Security” with respect to the period from and including its date of issuance (or if later, the date of maturity of the Qualifying Treasury Security with respect to the immediately preceding Reference Date) to but excluding its date of maturity, and the Administrative Trustees’ identification of a security as a Qualifying Treasury Security for such period shall be final and binding for all purposes absent manifest error. The Administrative Trustees or any one of them shall give (or cause to be given) prompt written notice to the DepositorCompany, the Collateral Agent, the Custodial Agent and the Property Trustee of each determination made pursuant to this Section 10.1. The Qualifying Treasury Security for the period from and including the date hereof to but excluding its date of maturity will be the US Treasury bxxx issued [ ] and due on [ ], CUSIP No. [ ].

Appears in 1 contract

Samples: Trust Agreement (Wachovia Capital Trust Iii)

Qualifying Treasury Securities. (a) The Administrative Trustees or any one of them shall, for each [ ]March 10, [ ]June 10, [ ]September 10, and [ ]December 10, commencing on [ ] June 10, 2008 and ending on the Stock Purchase Date or the earlier termination of the Stock Purchase Contracts, or if any such day is not a Business Day, the next Business Day (each, a “Reference Date”) identify: (i) the 13-week treasury bxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (ii) if no 13-week treasury bxxx that matures at least one and not more than six Business Days prior to that Reference Date is or is scheduled to be outstanding on the immediately preceding Reference Date, the 26-week treasury bxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (iii) if neither of such treasury bills is or is scheduled to be outstanding on the immediately preceding Reference Date, any other treasury security (which may be a zero coupon treasury security) that is outstanding on the immediately preceding Reference Date, is highly liquid and matures at least one Business Day prior to such Reference Date; provided, however, that any treasury security identified pursuant to this clause (iii) shall be selected in a manner intended to minimize the cash value of the security selected. (b) The Administrative Trustees shall use commercially reasonable efforts to identify the security meeting the foregoing criteria for each Reference Date promptly after the Department of the Treasury makes the schedule for upcoming auctions of treasury securities publicly available and shall, to the extent that a security previously identified with respect to any Reference Date is no longer expected to be outstanding on the immediately preceding Reference Date, identify another security meeting the foregoing criteria for such Reference Date. The security most recently identified by the Administrative Trustees or any one of them with respect to any Reference Date shall be the “Qualifying Treasury Security” with respect to the period from and including its date of issuance (or if later, the date of maturity of the Qualifying Treasury Security with respect to the immediately preceding Reference Date) to but excluding its date of maturity, and the Administrative Trustees’ identification of a security as a Qualifying Treasury Security for such period shall be final and binding for all purposes absent manifest error. The Administrative Trustees or any one of them shall give (or cause to be given) prompt written notice to the Depositor, the Collateral Agent, the Custodial Agent and the Property Trustee of each determination made pursuant to this Section 10.1. The Qualifying Treasury Security for the period from and including the date hereof to but excluding its date of maturity will be the US Treasury bxxx issued [ ] December 6, 2007 and due on [ ]June 5, 2008, CUSIP No. [ ]912 795 E7 2.

Appears in 1 contract

Samples: Trust Agreement (National City Preferred Capital Trust I)

Qualifying Treasury Securities. (a) The Administrative Trustees or any one of them shall, for each [ ]March 20, [ ]June 20, [ ]September 20 and [ ]December 20, commencing on [ ] September 20, 2007 and ending on the Stock Purchase Date or the earlier termination of the Stock Purchase Contracts, or if any such day is not a Business Day, the next Business Day (each, a “Reference Date”) identify: (i) the 13-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (ii) if no 13-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date is or is scheduled to be outstanding on the immediately preceding Reference Date, the 26-week treasury bxxx xxxx that matures at least one and not more than six Business Days prior to that Reference Date, or (iii) if neither of such treasury bills is or is scheduled to be outstanding on the immediately preceding Reference Date, any other treasury security (which may be a zero coupon treasury security) that is outstanding on the immediately preceding Reference Date, is highly liquid and matures at least one Business Day prior to such Reference Date; provided, however, that any treasury security identified pursuant to this clause (iii) shall be selected in a manner intended to minimize the cash value of the security selected. (b) The Administrative Trustees shall use commercially reasonable efforts to identify the security meeting the foregoing criteria for each Reference Date promptly after the Department of the Treasury makes the schedule for upcoming auctions of treasury securities publicly available and shall, to the extent that a security previously identified with respect to any Reference Date is no longer expected to be outstanding on the immediately preceding Reference Date, identify another security meeting the foregoing TRUST AGREEMENT criteria for such Reference Date. The security most recently identified by the Administrative Trustees or any one of them with respect to any Reference Date shall be the “Qualifying Treasury Security” with respect to the period from and including its date of issuance (or if later, the date of maturity of the Qualifying Treasury Security with respect to the immediately preceding Reference Date) to but excluding its date of maturity, and the Administrative Trustees’ identification of a security as a Qualifying Treasury Security for such period shall be final and binding for all purposes absent manifest error. The Administrative Trustees or any one of them shall give (or cause to be given) prompt written notice to the DepositorCompany, the Collateral Agent, the Custodial Agent and the Property Trustee of each determination made pursuant to this Section 10.1. The Qualifying Treasury Security for the period from and including the date hereof to but excluding its date of maturity will be the US Treasury bxxx xxxx issued [ ] March 15, 2007 and due on [ ]September 13, 2007, CUSIP No. [ ]912795 ZZ 7.

Appears in 1 contract

Samples: Trust Agreement (Mellon Financial Corp)

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