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

Rights and Obligations Evidenced by the Certificates. Each PEPS Units Certificate shall evidence the number of PEPS Units specified therein, with each such PEPS Unit representing (1) the ownership by the Holder thereof of a beneficial interest in a Preferred Security, a Senior Deferrable Note or the [Applicable Ownership Interest of the Treasury Portfolio], as the case may be, subject to the Pledge of such Preferred Security, such Senior Note or the Applicable Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio, 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 PEPS Unit shall pledge, pursuant to the Pledge Agreement, the Preferred Security, the Senior Note or the Applicable Ownership Interest (as specified in clause (A) of the definition of such term) of the Treasury Portfolio, as the case may be, forming a part of such PEPS 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 Preferred Security, such Senior Note or the

Appears in 2 contracts

Samples: Purchase Contract Agreement (Valero Energy Corp/Tx), Purchase Contract Agreement (Vec Trust Ii)

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Rights and Obligations Evidenced by the Certificates. Each PEPS Corporate Units Certificate shall evidence the number of PEPS Corporate Units specified therein, with each such PEPS Corporate Unit representing representing (1) the ownership by the Holder thereof of a beneficial interest in a Preferred Security, a Senior Deferrable Note or the [an Applicable Ownership Interest of in Senior Notes or an Applicable Ownership Interest in the Treasury Portfolio], as the case may be, subject to the Pledge of such Preferred Security, such Applicable Ownership Interest in Senior Note or the Applicable Ownership Interest in the Treasury Portfolio (as specified in clause (Ai) of the definition of such term) of the Treasury Portfolio), as the case may be, by such Holder pursuant to the Pledge this Agreement, and (2) the rights and obligations of the Holder thereof and the Company under one Purchase Contract. The Purchase Contract Agent is hereby authorized, as attorney-in-fact for, and on behalf of, the Holder of each PEPS Unit shall Corporate Unit, to pledge, pursuant to the Pledge AgreementArticle 11 hereof, the Preferred SecurityApplicable Ownership Interest in Senior Notes, the Senior Note or the Applicable Ownership Interest in the Treasury Portfolio (as specified in clause (Ai) of the definition of such term) of the Treasury Portfolio, as the case may be), forming a part of such PEPS Unit, Corporate Unit to the Collateral Agent Agent, for the benefit of the Company, and to grant to the Collateral Agent Agent, for the benefit of the Company, a security interest in the right, title and interest of such Holder in such Preferred Security, Applicable Ownership Interest in Senior Notes or Applicable Ownership Interest in the Treasury Portfolio (as specified in clause (i) of the definition of such Senior Note or theterm) to secure the obligation of the Holder under each Purchase Contract to purchase shares of Common

Appears in 1 contract

Samples: Purchase Contract and Pledge Agreement (PNM Resources Inc)

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Rights and Obligations Evidenced by the Certificates. Each PEPS Corporate Units Certificate shall evidence the number of PEPS Corporate Units specified therein, with each such PEPS Corporate Unit representing (1) the ownership by the Holder thereof of a beneficial interest in a Preferred Security, a Senior Deferrable Note or the [Applicable Ownership Interest of in the Treasury Portfolio], as the case may be, subject to the Pledge of such Preferred Security, such Senior Note or the Applicable Ownership Interest (as specified in clause (Ai) of the definition of such term) of in the Treasury Portfolio, 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 is hereby authorized, as attorney-in-fact for, and on behalf of, the Holder of each PEPS Unit shall Corporate Unit, to pledge, pursuant to the Pledge Agreement, the Preferred Security, the Senior Note or and the Applicable Ownership Interest (as specified in clause (Ai) of the definition of such term) of in the Treasury Portfolio, as the case may beif any, forming a part of represented by such PEPS Corporate Unit, to the Collateral Agent for the benefit of the Company, and to grant to the Collateral Agent Agent, for the benefit of the Company, a security interest in the right, title and interest of such Holder in such Preferred Security, such Senior Note or and the

Appears in 1 contract

Samples: Purchase Contract Agreement (Chubb Corp)

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