Common use of Rights and Obligations Evidenced by the Certificates Clause in Contracts

Rights and Obligations Evidenced by the Certificates. Each Income PRIDES Certificate shall evidence the number of Income PRIDES specified therein, with each such Income PRIDES representing the owner ship by the Holder thereof of a beneficial interest in a Capital Security or the Appli cable Ownership Interest of the Treasury Portfolio, as the case may be, subject to the Pledge of such Capital Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, by such Holder pursuant to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract. The Agent as attorney-in-fact for, and on behalf of, the Holder of each Income PRIDES shall pledge, pursuant to the Pledge Agreement, the Capital Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, forming a part of such Income PRIDES, to the Collateral Agent and grant to the Collateral Agent a security interest in the right, title, and interest of such Holder in such Capital Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, for the benefit of the Company, to secure the obligation of the Holder under each Purchase Contract to purchase the Common Stock of the Company. Each Growth PRIDES Certificate shall evidence the number of Growth PRIDES specified therein, with each such Growth PRIDES representing the owner ship by the Holder thereof of a 1/100 undivided beneficial interest in a Treasury Security with a principal amount equal to $1,000 subject to the Pledge of such Treasury Security by such Holder pursuant to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract.

Appears in 1 contract

Samples: Purchase Contract Agreement (KBHC Financing I)

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Rights and Obligations Evidenced by the Certificates. Each Income PRIDES Corporate Units Certificate shall evidence the number of Income PRIDES Corporate Units specified therein, with each such Income PRIDES Corporate Unit representing the owner ship ownership by the Holder thereof of a beneficial interest in a Capital Security Senior Note or the Appli cable Applicable Ownership Interest of the Treasury Portfolio, as the case may be, subject to the Pledge of such Capital Security Senior Note or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, by such Holder pursuant to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract. The Agent as attorney-in-fact for, and on behalf of, the Holder of each Income PRIDES Corporate Unit shall pledge, pursuant to the Pledge Agreement, the Capital Security Senior Note or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, forming a part of such Income PRIDESCorporate Unit, to the Collateral Agent and grant to the Collateral Agent a security interest in the right, title, and interest of such Holder in such Capital Security Senior Note or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, for the benefit of the Company, to secure the obligation of the Holder under each Purchase Contract to purchase the Common Stock of the Company. Each Growth PRIDES Treasury Units Certificate shall evidence the number of Growth PRIDES Treasury Units specified therein, with each such Growth PRIDES Treasury Unit representing the owner ship ownership by the Holder thereof of a 1/100 1/40, or 2.5%, undivided beneficial interest in a Treasury Security with a principal amount at maturity equal to $1,000 1,000, subject to the Pledge of such Treasury Security by such Holder pursuant to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract.under

Appears in 1 contract

Samples: Purchase Contract Agreement (Duke Energy Corp)

Rights and Obligations Evidenced by the Certificates. Each Income PRIDES Certificate shall evidence the number of Income PRIDES specified therein, with each such Income PRIDES representing the owner ship ownership by the Holder thereof of a beneficial interest in Preferred Security with a Capital Security or principal amount equal to the Appli cable Ownership Interest of the Treasury Portfolio, as the case may beStated Amount, subject to the Pledge of such Capital Preferred Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, by such Holder pursuant to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract. The Agent as attorney-in-fact for, and on behalf of, the each Holder of each Income PRIDES shall pledge, pursuant to the Pledge Agreement, the Capital Preferred Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, forming a part of such Holder's Income PRIDES, to the Collateral Agent and grant to the Collateral Agent a security interest in the right, title, and interest of such Holder in such Capital Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may bePreferred Security, for the benefit of the Company, to secure the obligation of the Holder under each the Purchase Contract Contracts to purchase the Common Stock of the Company. Prior to the purchase of shares of Common Stock under the Purchase Contracts, such Purchase Contracts shall not entitle the Holders of Income PRIDES Certificates to any of the rights of a holder of shares of Common Stock, including, without limitation, the right to vote or receive any dividends or other payments or to consent or to receive notice as stockholders in respect of the meetings of stockholders or for the election of directors of the Company or for any other matter, or any other rights whatsoever as stockholders of the Company. Each Growth PRIDES Certificate shall evidence the number of Growth PRIDES specified therein, with each such Growth PRIDES representing the owner ship ownership by the Holder thereof of a 1/100 undivided beneficial interest in a Treasury Security with a principal amount equal to $1,000 the aggregate Stated Amount of the Preferred Securities for which such Treasury Security is being substituted, subject to the Pledge of such Treasury Security by such Holder pursuant to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract.Con-

Appears in 1 contract

Samples: Purchase Contract Agreement (Owens Corning Capital Ii)

Rights and Obligations Evidenced by the Certificates. Each Income PRIDES Certificate shall evidence the number of Income PRIDES specified therein, with each such Income PRIDES representing the owner ship ownership by the Holder thereof of a beneficial interest in a Capital Preferred Security or the Appli cable Applicable Ownership Interest of the Treasury Portfolio, as the case may be, subject to the Pledge of such Capital Preferred Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, by such Holder pursuant to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract. The Agent as attorney-in-fact for, and on behalf of, the Holder of each Income PRIDES shall pledge, pursuant to the Pledge Agreement, the Capital Preferred Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, forming a part of such Income PRIDES, to the Collateral Agent and grant to the Collateral Agent a security interest in the right, title, and interest of such Holder in such Capital Preferred Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, for the benefit of the Company, to secure the obligation of the Holder under each Purchase Contract to purchase the Common Stock of the Company. Each Growth PRIDES Certificate Prior to the purchase of shares of Common Stock under each Purchase Contract, such Purchase Contracts shall evidence the number of Growth PRIDES specified therein, with each such Growth PRIDES representing the owner ship by not entitle the Holder thereof of an Income PRIDES Certificates to any of the rights of a 1/100 undivided beneficial interest in a Treasury Security with a principal amount equal holder of shares of Common Stock, including, without limitation, the right to $1,000 subject vote or receive any dividends or other payments or to the Pledge of such Treasury Security by such Holder pursuant consent or to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract.receive notice as

Appears in 1 contract

Samples: Purchase Contract Agreement (Kennametal Financing I)

Rights and Obligations Evidenced by the Certificates. Each Income PRIDES Certificate shall evidence the number of Income PRIDES specified therein, with each such Income PRIDES representing the owner ship ownership by the Holder thereof of a beneficial interest in Preferred Security with a Capital Security or principal amount equal to the Appli cable Ownership Interest of the Treasury Portfolio, as the case may beStated Amount, subject to the Pledge of such Capital Preferred Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, by such Holder pursuant to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract. The Agent as attorney-in-fact for, and on behalf of, the each Holder of each Income PRIDES shall pledge, pursuant to the Pledge Agreement, the Capital Preferred Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, forming a part of such Holder's Income PRIDES, to the Collateral Agent and grant to the Collateral Agent a security interest in the right, title, and interest of such Holder in such Capital Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may bePreferred Security, for the benefit of the Company, to secure the obligation of the Holder under each the Purchase Contract Contracts to purchase the Common Stock of the Company. Each Growth Prior to the purchase of shares of Common Stock under the Purchase Contracts, such Purchase Contracts shall not entitle the Holders of Income PRIDES Certificate shall evidence Certificates to any of the number of Growth PRIDES specified therein, with each such Growth PRIDES representing the owner ship by the Holder thereof rights of a 1/100 undivided beneficial interest in a Treasury Security with a principal amount equal holder of shares of Common Stock, including, without limitation, the right to $1,000 subject vote or receive any dividends or other payments or to the Pledge of such Treasury Security by such Holder pursuant consent or to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract.receive notice as

Appears in 1 contract

Samples: Purchase Contract Agreement (American Heritage Life Investment Corp)

Rights and Obligations Evidenced by the Certificates. Each Income PRIDES Certificate shall evidence the number of Income PRIDES specified therein, with each such Income PRIDES representing the owner ship ownership by the Holder thereof of a beneficial interest in Preferred Security with a Capital Security or principal amount equal to the Appli cable Ownership Interest of the Treasury Portfolio, as the case may beStated Amount, subject to the Pledge of such Capital Preferred Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, by such Holder pursuant to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract. The Agent as attorney-in-fact for, and on behalf of, the each Holder of each Income PRIDES shall pledge, pursuant to the Pledge Agreement, the Capital Preferred Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, forming a part of such Holder's Income PRIDES, to the Collateral Agent and grant to the Collateral Agent a security interest in the right, title, and interest of such Holder in such Capital Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may bePreferred Security, for the benefit of the Company, to secure the obligation of the Holder under each the Purchase Contract Contracts to purchase the Common Stock of the Company. Prior to the purchase of shares of Common Stock under the Purchase Contracts, such Purchase Contracts shall not entitle the Holders of Income PRIDES Certificates to any of the rights of a holder of shares of Common Stock, including, without limitation, the right to vote or receive any dividends or other payments or to consent or to receive notice as stockholders in respect of the meetings of stockholders or for the election of directors of the Company or for any other matter, or any other rights whatsoever as stockholders of the Company. Each Growth PRIDES Certificate shall evidence the number of Growth PRIDES specified therein, with each such Growth PRIDES representing the owner ship ownership by the Holder thereof of a 1/100 undivided beneficial interest in a Treasury Security with a principal amount equal to $1,000 subject to the Pledge of such Treasury Security by such Holder pursuant to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract.Security

Appears in 1 contract

Samples: Purchase Contract Agreement (MCN Corp)

Rights and Obligations Evidenced by the Certificates. Each Income PRIDES Certificate shall evidence the number of Income PRIDES specified therein, with each such Income PRIDES representing the owner ship ownership by the Holder thereof of a beneficial interest in a Capital Preferred Security or with a stated liquidation amount equal to the Appli cable Ownership Interest of the Treasury Portfolio, as the case may beStated Amount, subject to the Pledge of such Capital Preferred Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, by such Holder pursuant to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract. The Agent as attorney-in-fact for, and on behalf of, the each Holder of each Income PRIDES shall pledge, pursuant to the Pledge Agreement, the Capital each Preferred Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, forming a part of relating to such Holder's Income PRIDES, to the Collateral Agent and grant to the Collateral Agent a security interest in the right, title, and interest of such Holder in such Capital Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may bePreferred Security, for the benefit of the Company, to secure the obligation of the Holder under each the related Purchase Contract to purchase Common Stock. Prior to the purchase of shares of Common Stock under a Purchase Contract, such Purchase Contract shall not entitle the Holder of the related Income PRIDES Certificate to any of the rights of a holder of shares of Common Stock, including, without limitation, the right to vote or receive any dividends or other payments or to consent or to receive notice as stockholders in respect of the meetings of stockholders or for the election of directors of the Company or for any other matter, or any other rights whatsoever as stockholders of the Company. Each Growth PRIDES Certificate shall evidence the number of Growth PRIDES specified therein, with each such Growth PRIDES representing the owner ship ownership by the Holder thereof of a 1/100 1/20 undivided beneficial interest in a Treasury Security with a principal amount equal to $1,000 1,000, subject to the Pledge of such Treasury Security by such Holder pursuant to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract. The Agent as attorney-in-fact for, and on behalf of, each Holder of Growth PRIDES shall pledge, pursuant to the Pledge Agreement, each Treasury Security related to such Holder's Growth PRIDES, to the Collateral Agent and grant to the Collateral Agent a security interest in the right, title and interest of such Holder in such Treasury Security, for the benefit of the Company, to secure the obligation of such Holder under the related Purchase Contract to purchase Common Stock. Prior to the purchase, if any, of shares of Common Stock under a Purchase Contract, such Purchase Contract shall not entitle the Holder of the related Growth PRIDES Certificate to any of the rights of a holder of shares of Common Stock, including, without limitation, the right to vote or receive any dividends or other payments or to consent or to receive notice as stockholders in respect of the meetings of stockholders or for the election of directors of the Company or for any other matter, or any other rights whatsoever as stockholders of the Company.

Appears in 1 contract

Samples: Purchase Contract Agreement (Protective Life Corp)

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Rights and Obligations Evidenced by the Certificates. Each Income PRIDES Corporate Unit Certificate shall evidence the number of Income PRIDES Corporate Units specified therein, with each such Income PRIDES representing Corporate Unit representing (1) the owner ship ownership by the Holder thereof of a beneficial interest in a Capital Security one Senior Note or if substituted therefor, the Appli cable Ownership Interest of the Pledged Treasury PortfolioPortfolio Interest, as the case may bein either case, subject to the Pledge of such Capital Security Senior Note or the Applicable Ownership Interest of the such Pledged Treasury PortfolioPortfolio Interest, as the case may be, by such Holder pursuant to the Pledge Agreement, and (2) the rights and obligations of the Holder thereof and the Company under one Purchase Contract. The Purchase Contract Agent as attorney-in-fact for, and on behalf of, the Holder of each Income PRIDES Corporate Unit shall pledge, pursuant to the Pledge Agreement, the Capital Security Senior Note or the Applicable Ownership Interest of if substituted therefor, the Treasury Portfolio, as the case may bePortfolio Interest, forming a part of such Income PRIDESCorporate Unit, to the Collateral Agent and grant to the Collateral Agent a security interest in the right, title, title and interest of such Holder in such Capital Security Senior Note or the Applicable Ownership Interest of the such Treasury PortfolioPortfolio Interest, as the case may be, for the benefit of the Company, to secure the obligation of the Holder under each Purchase Contract to purchase shares of Common Stock. Prior to the purchase of shares of Common Stock under each Purchase Contract, such Purchase Contracts shall not entitle the Holder of a Corporate Unit Certificate to any of the rights of a holder of shares of Common Stock, including, without limitation, the right to vote or receive any dividends or other payments or to consent or to receive notice as a shareholder in respect of the meetings of shareholders or for the election of directors of the Company or for any other matter, or any other rights whatsoever as a shareholder of the Company. Each Growth PRIDES Upon the formation of Treasury Units pursuant to Section 3.13, each Treasury Unit Certificate shall evidence the number of Growth PRIDES Treasury Units specified therein, with each such Growth PRIDES Treasury Unit representing (1) the owner ship ownership by the Holder thereof of a 1/100 1/20 undivided beneficial interest in a Treasury Security with a principal amount equal to $1,000 1,000, subject to the Pledge of such Treasury Security by such Holder pursuant to the Pledge Agreement, and (2) the rights and obligations of the Holder thereof and the Company under one Purchase Contract. The Purchase Contract Agent as attorney-in-fact for, and on behalf of, the Holder of each Treasury Unit shall pledge, pursuant to the Pledge Agreement, the Treasury Security, forming a part of such Treasury Unit, to the Collateral Agent and grant to the Collateral Agent a security interest in the right, title and interest of such Holder in such Treasury Security for the benefit of the Company, to secure the obligation of the Holder under each Purchase Contract to purchase shares of Common Stock. Prior to the purchase of shares of Common Stock under each Purchase Contract, such Purchase Contract shall not entitle the Holder of a Treasury Unit Certificate to any of the rights of a holder of shares of Common Stock, including, without limitation, the right to vote or receive any dividends or other payments or to consent or to receive notice as a shareholder in respect of the meetings of shareholders or for the election of directors of the Company or for any other matter, or any other rights whatsoever as a shareholder of the Company.

Appears in 1 contract

Samples: Purchase Contract Agreement (Dominion Resources Inc /Va/)

Rights and Obligations Evidenced by the Certificates. Each Income PRIDES Type A Certificate shall evidence the number of Income PRIDES Type A Securities specified therein, with each such Income PRIDES Type A Security representing the owner ship ownership by the Holder thereof of a beneficial interest in a Capital Debt Security or the Appli cable Applicable Ownership Interest of the Treasury Portfolio, as the case may be, subject to the Pledge of such Capital Debt Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, by such Holder pursuant to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract. The Agent as attorney-in-fact for, and on behalf of, the Holder of each Income PRIDES Type A Security shall pledge, pursuant to the Pledge Agreement, the Capital Debt Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, forming a part of such Income PRIDESType A Security, to the Collateral Agent and grant to the Collateral Agent a security interest in the right, title, and interest of such Holder in such Capital Debt Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, for the benefit of the Company, to secure the obligation of the Holder under each Purchase Contract to purchase the Common Stock of the Company. Each Growth PRIDES Type B Certificate shall evidence the number of Growth PRIDES Type B Securities specified therein, with each such Growth PRIDES Type B Security representing the owner ship ownership by the Holder thereof of a 1/100 undivided beneficial interest in a Treasury Security with a principal amount equal to $1,000 subject to the Pledge of such Treasury Security by such Holder pursuant to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract.

Appears in 1 contract

Samples: Purchase Contract Agreement (Texas Utilities Co /Tx/)

Rights and Obligations Evidenced by the Certificates. Each Income PRIDES Certificate shall evidence the number of Income PRIDES specified therein, with each such Income PRIDES Security representing the owner ship ownership by the Holder thereof of a beneficial interest in Preferred Security with a Capital Security or principal amount equal to the Appli cable Ownership Interest of the Treasury Portfolio, as the case may beStated Amount, subject to the Pledge of such Capital Preferred Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may be, by such Holder pursuant to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract. The Agent as attorney-in-fact for, and on behalf of, the each Holder of each Income PRIDES shall pledge, pursuant to the Pledge Agreement, the Capital Security or the Applicable Ownership Interest dated as of the Treasury Portfoliodate hereof, as the case may be, forming a part of such Income PRIDES, Preferred Security to the Collateral Agent and grant to the Collateral Agent a security interest in the right, title, and interest of such Holder in such Capital Security or the Applicable Ownership Interest of the Treasury Portfolio, as the case may beSecurity, for the benefit of the Company, to secure the obligation of the Holder under each the Purchase Contract Contracts to purchase the Common Stock of the Company. Prior to the purchase, if any, of shares of Common Stock under the Purchase Contracts, the Income PRIDES Certificates shall not entitle the Holders to any of the rights of a holder of shares of Common Stock, including, without limitation, the right to vote or receive any dividends or other payments or to consent or to receive notice as stockholders in respect of the meetings of stockholders or for the election of directors of the Company or for any other matter, or any other rights whatsoever as stockholders of the Company. Each Growth PRIDES Certificate shall evidence the number of Growth PRIDES specified therein, with each such Growth PRIDES representing the owner ship ownership by the Holder thereof of a 1/100 undivided beneficial interest in a Treasury Security with a principal amount equal to $1,000 the aggregate Stated Amount of the Preferred Securities for which such Treasury Security is being substituted, subject to the Pledge of such Treasury Security by such Holder pursuant to the Pledge Agreement, and the rights and obligations of the Holder thereof and the Company under one Purchase Contract.Agreement and

Appears in 1 contract

Samples: Purchase Contract Agreement (MCN Financing Iv)

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