Common use of Right to Terminate Trust Clause in Contracts

Right to Terminate Trust. The Sponsor will have the right at any time to terminate the Trust and, after satisfaction of liabilities to creditors of the Trust as required by applicable law, to cause the Debentures to be distributed to the Holders in liquidation of the Trust. Such right is subject to the Sponsor having received (i) an Opinion of Counsel to the effect that such distribution will not cause the holders of Capital Securities to recognize gain or loss for United States federal income tax purposes and (ii) any and all required regulatory approvals.

Right to Terminate Trust. The Sponsor will have the right at any time to terminate the Trust and, after satisfaction of liabilities to creditors of the Trust as required by applicable law, to cause the Junior Subordinated Debentures to be distributed to the Holders holders of the Trust Securities in liquidation of the Trust. Such right is subject to the Sponsor having received (i) the Administrative Trustees and the Property Trustee having received an Opinion opinion of Counsel counsel to the effect that such distribution will not cause the holders of Capital Securities to recognize gain or loss for United States federal income tax purposes and (ii) the receipt of any and all required regulatory approvals.