Rights of Holders. The Guarantor expressly acknowledges that: (a) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (b) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (c) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (d) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 96 contracts
Samples: Guarantee Agreement (Paragon Commercial CORP), Guarantee Agreement (Entegra Financial Corp.), Guarantee Agreement (Wilshire Bancorp Inc)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 59 contracts
Samples: Guarantee Agreement (Goldman Sachs Capital III), Guarantee Agreement (Gainsco Inc), Guarantee Agreement (Mountain National Bancshares Inc)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 53 contracts
Samples: Guarantee Agreement (First Merchants Corp), Guarantee Agreement (Superior Bancorp), Guarantee Agreement (Bb&t Corp)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 32 contracts
Samples: Guarantee Agreement (Fifth Third Capital Trust VIII), Guarantee Agreement (Fifth Third Capital Trust VIII), Guarantee Agreement (BEE Financing Trust III)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount liquidation preference of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 31 contracts
Samples: Guarantee Agreement (Riggs Capital Ii), Guarantee Agreement (Riggs National Corp), Guarantee Agreement (Southwestern Electric Power Co)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 25 contracts
Samples: Guarantee Agreement (Redwood Capital Trust Ii), Guarantee Agreement (First Niagara Financial Group Inc), Guarantee Agreement (Regions Financing Trust Iii)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount liquidation preference of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 22 contracts
Samples: Guarantee Agreement (Mbna Corp), Guarantee Agreement (Mbna Corp), Guarantee Agreement (Ingersoll Rand Co)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 18 contracts
Samples: Guarantee Agreement (American Coin Merchandising Trust Iv), Guarantee Agreement (Us Home & Garden Trust I), Guarantee Agreement (Us Home & Garden Trust I)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in aggregate Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 14 contracts
Samples: Guarantee Agreement (Susquehanna Bancshares Inc), Guarantee Agreement (Susquehanna Capital IV), Guarantee Agreement (Susquehanna Bancshares Inc)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 14 contracts
Samples: Guarantee Agreement (First Citizens Bancorporation Inc), Guarantee Agreement (GCB Capital Trust), Guarantee Agreement (BNB Capital Trust)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Trust Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 13 contracts
Samples: Guarantee Agreement (Whitney Capital Trust I), Guarantee Agreement (Whitney Capital Trust I), Guarantee Agreement (Whitney Capital Trust I)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Trust Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 12 contracts
Samples: Guarantee Agreement (Bb&t Corp), Guarantee Agreement (Bb&t Corp), Guarantee Agreement (BB&T Capital Trust II)
Rights of Holders. The Guarantor expressly acknowledges that: (a) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (b) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (c) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (d) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 10 contracts
Samples: Guarantee Agreement (Provident Trust Ii), Guarantee Agreement (First Star Capital Trust), Guarantee Agreement (Mariner Capital Trust)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount liquidation amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Personperson or entity.
Appears in 8 contracts
Samples: Guarantee Agreement (Midamerican Energy Financing Ii), Guarantee Agreement (Mp&l Capital I), Guarantee Agreement (Entergy Gulf States Capital I)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 7 contracts
Samples: Guarantee Agreement (Highlands Capital Trust I), Form of Guarantee Agreement (Bancorpsouth Inc), Guarantee Agreement (Resource Capital Trust I)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Trust Preferred Securities of the affected Series have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 6 contracts
Samples: Guarantee Agreement (Mellon Financial Corp), Guarantee Agreement (National City Preferred Capital Trust I), Guarantee Agreement (Wells Fargo & Co/Mn)
Rights of Holders. The Guarantor Each of the Guarantors expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against either of the Guarantor Guarantors to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 6 contracts
Samples: Guarantee Agreement (Popular Inc), Guarantee Agreement (Popular Inc), Agreement (Popular North America Capital Trust Iii)
Rights of Holders. The Guarantor expressly acknowledges that: (a) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (b) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (c) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (d) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 6 contracts
Samples: Guarantee Agreement (Silicon Valley Bancshares), Guarantee Agreement (Silicon Valley Bancshares), Guarantee Agreement (Bancfirst Corp /Ok/)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount aggregate liquidation amount of the Preferred Trust Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 5 contracts
Samples: Guarantee Agreement (Enpro Industries Inc), Guarantee Agreement (Enpro Industries Inc), Guarantee Agreement (Enpro Industries Inc)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Trust Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 5 contracts
Samples: Guarantee Agreement (Republic New York Corp), Guarantee Agreement (Republic New York Corp), Agreement (Bancorp Hawaii Capital Trust I)
Rights of Holders. The Guarantor expressly acknowledges that: (a) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (b) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (c) the Holders of a Majority in Liquidation Amount of the Preferred Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (d) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 5 contracts
Samples: Guarantee Agreement (S&t Bancorp Inc), Guarantee Agreement (M&t Bank Corp), Guarantee Agreement (S&t Bancorp Inc)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Trust Preferred Securities of the affected Class or Classes have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 5 contracts
Samples: Guarantee Agreement (Truist Financial Corp), Guarantee Agreement (Us Bancorp \De\), Guarantee Agreement (Wachovia Capital Trust Iii)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Accreted Liquidation Amount of the Trust Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 5 contracts
Samples: Guarantee Agreement (Metlife Inc), Guarantee Agreement (Metlife Inc), Guarantee Agreement (Metlife Inc)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of not less than a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 4 contracts
Samples: Guarantee Agreement (Hl&p Capital Trust Iv), Guarantee Agreement (Hl&p Capital Trust I), Guarantee Agreement (Hl&p Capital Trust Iv)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 4 contracts
Samples: Guarantee Agreement (First Bank System Inc), Guarantee Agreement (First Bank System Inc), Guarantee Agreement (First Bank System Inc)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in aggregate Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 4 contracts
Samples: Guarantee Agreement (Schwab Charles Corp), Guarantee Agreement (Mellon Financial Corp), Guarantee Agreement (Mellon Bank Corp)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Trust Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 4 contracts
Samples: Guarantee Agreement (WSFS Financial Corp), Guarantee Agreement (Fib Capital Trust), Guarantee Agreement (Fib Capital Trust)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount liquidation amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 4 contracts
Samples: Agreement (Cna Financial Capital Iii), Guarantee Agreement (Cna Financial Corp), Agreement (Cna Financial Capital Iii)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 4 contracts
Samples: Guarantee Agreement (HMB Capital Trust III), Guarantee Agreement (Centerstate Banks of Florida Inc), Guarantee Agreement (SCBT Financial Corp)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of not less than a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 4 contracts
Samples: Guarantee Agreement (Owens Corning Capital Ii), Guarantee Agreement (Owens Corning Capital Ii), Guarantee Agreement (Owens Corning Capital Ii)
Rights of Holders. The Guarantor expressly acknowledges that: ----------------- (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 3 contracts
Samples: Guarantee Agreement (Sempra Energy), Guarantee Agreement (Sempra Energy Global Enterprises), Guarantee Agreement (Sempra Energy Global Enterprises)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of not less than a Majority in Liquidation Amount of the Preferred Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 3 contracts
Samples: Guarantee Agreement (Pmi Group Inc), Guarantee Agreement (Providian Financial Corp), Guarantee Agreement (Pmi Capital I)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount liquidation preference of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising to direct the exercise of any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 3 contracts
Samples: Guarantee Agreement (Chubb Capital Trust Iii), Guarantee Agreement (Chubb Capital Trust Iii), Guarantee Agreement (Chubb Capital Trust Iii)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount liquidation amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) if the Guarantee Trustee fails to enforce this Guarantee Agreement as above provided, any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Personperson or entity.
Appears in 3 contracts
Samples: Guarantee Agreement (Tu Electric Capital Ii), Guarantee Agreement (Tu Electric Capital I), Guarantee Agreement (Tu Electric Capital Iii)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount liquidation amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising exercise or direct the exercise of any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 3 contracts
Samples: Guarantee Agreement (Public Service Enterprise Group Inc), Guarantee Agreement (Public Service Enterprise Group Inc), Guarantee Agreement (Public Service Enterprise Group Inc)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Trust Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 3 contracts
Samples: Guarantee Agreement (Goldman Sachs Group Inc), Guarantee Agreement (Goldman Sachs Group Inc), Guarantee Agreement (FFBC Capital Trust I)
Rights of Holders. The Guarantor expressly acknowledges that: (a) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (b) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (c) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (d) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.. SECTION 5.5
Appears in 3 contracts
Samples: Guarantee Agreement (Simmons First National Corp), Guarantee Agreement (Simmons First National Corp), Guarantee Agreement (Simmons First National Corp)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in aggregate Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 2 contracts
Samples: Guarantee Agreement (Pennsylvania Power & Light Co /Pa), Guarantee Agreement (Pennsylvania Power & Light Co /Pa)
Rights of Holders. The Guarantor expressly acknowledges ----------------- that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Trust Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power Power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly directly, against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 2 contracts
Samples: Guarantee Agreement (Commonwealth Bankshares Inc), Guarantee Agreement (Commonwealth Bankshares Inc)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority majority in Liquidation Amount of the Preferred Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 2 contracts
Samples: Agreement (Usf&g Corp), Trust Agreement (Usf&g Corp)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Principal Amount of the Preferred Debt Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 2 contracts
Samples: Senior Guarantee Agreement (Adelphia Communications Corp), Subordinated Guarantee Agreement (Adelphia Communications Corp)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities Apex have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 2 contracts
Samples: Guarantee Agreement (Goldman Sachs Group Inc), Guarantee Agreement (Goldman Sachs Group Inc)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Trust Preferred Securities of the affected Series have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 2 contracts
Samples: Guarantee Agreement (Goldman Sachs Capital Iii), Guarantee Agreement (Goldman Sachs Capital Ii)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount liquidation amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) upon the occurrence of an Event of Default, any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 2 contracts
Samples: Guarantee Agreement (Fresenius Medical Care Corp), Guarantee Agreement (Fresenius Medical Care Corp)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) if an Event of Default has occurred and is continuing, the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 2 contracts
Samples: Guarantee Agreement (Texas Utilities Electric Co), Guarantee Agreement (Texas Utilities Electric Co)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 2 contracts
Samples: Guarantee Agreement (First Union Institutional Capital Ii), Guarantee Agreement (First Union Corp)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Aggregate Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 2 contracts
Samples: Guarantee Agreement (J P Morgan Chase Capital X), Guarantee Agreement (Telebanc Capital Trust Ii)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 2 contracts
Samples: Guarantee Agreement (First American Financial Corp), Guarantee Agreement (First American Financial Corp)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Aggregate Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Trust Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee TrusteeIssuer Trust, the Issuer Guarantee Trustee or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Trust Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (a) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (b) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (c) the Holders of a Majority in Liquidation Amount of the Preferred Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (d) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 1 contract
Samples: Capital Securities Guarantee Agreement (Cullen Frost Capital Trust Ii)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Trust Preferred Securities have the right to direct the time, method and place of conducting any 192 proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 1 contract
Samples: Guarantee Agreement (South Carolina Electric & Gas Co)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount Preference of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising to direct the exercise of any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) if the Guarantee Trustee fails to enforce the Guarantee, any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.proceeding
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Series F Trust Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor ONEOK expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor ONEOK to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Trust Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) subject to Section 3.02(v), the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Samples: Usb Holding Co Inc
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may enforce this Guarantee Agreement, institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Samples: Guarantee Agreement (Usf&g Corp)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount liquidation amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder of the Preferred Securities may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Exchange Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Exchange Guarantee Agreement on behalf of the Holders; (ciii) subject to Section 3.2(v), the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Exchange Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee AgreementExchange Guarantee; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee AgreementExchange Guarantee, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Exchange Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Exchange Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Exchange Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Exchange Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee AgreementExchange Guarantee; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee AgreementExchange Guarantee, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Series __ Trust Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the HoldersHolders of the Preferred Securities; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the HoldersHolders of the Preferred Securities; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder of the Preferred Securities may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Personperson or entity.
Appears in 1 contract
Samples: Guarantee Agreement (Southwestern Public Service Co)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) upon the occurrence of an Event of Default, any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 1 contract
Samples: Guarantee Agreement (Superior National Insurance Group Inc)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Trust Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.. 296
Appears in 1 contract
Samples: Guarantee Agreement (Sce&g Trust I)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in aggregate Liquidation Amount of the Preferred Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising directing the exercise of any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor Success Bancshares expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor Success Bancshares to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Success Capital or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Series E Trust Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Trust Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising to direct the exercise of any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Capital Securities Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Capital Securities Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee AgreementCapital Securities Guarantee; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee AgreementCapital Securities Guarantee, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 1 contract
Samples: Downey Financial Capital Trust I
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Trust Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; Agreement and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person. SECTION 5.5.
Appears in 1 contract
Samples: Republic New York Capital Iv
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Series A Trust Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Capital Securities of the affected Series have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; , (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; , (ciii) the Holders of a Majority in Aggregate Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; , and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Exchange Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Exchange Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Exchange Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee AgreementExchange Guarantee; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee AgreementExchange Guarantee, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Samples: North Fork Capital Trust I
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Series D Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 1 contract
Rights of Holders. The Each Guarantor expressly acknowledges that: (a) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (b) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (c) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (d) any Holder may institute a legal proceeding directly against either or both of the Guarantor Guarantors to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Issuer, the other Guarantor or any other Person.
Appears in 1 contract
Samples: Guarantee Agreement (American Safety Insurance Holdings LTD)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may enforce this Guarantee Agreement, institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Samples: Trust Agreement (Usf&g Corp)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (d) any Holder may institute a legal proceeding directly against the Guarantor , PROVIDED, HOWEVER, that, subject to enforce its rights under this Guarantee AgreementSection 3.1, without first instituting a legal proceeding against the Guarantee TrusteeTrustee shall have the right to decline to follow any such direction if the Guarantee Trustee being advised by counsel determines that the action so directed may not lawfully be taken, or if the Issuer or any other Person.Guarantee Trustee in good
Appears in 1 contract
Samples: Securities Guarantee Agreement (Crestar Financial Corp)
Rights of Holders. The Guarantor expressly acknowledges that: (a) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (b) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (c) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (d) any Holder may institute a legal proceeding directly against against, or request or direct that action be taken by, the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust, Depositor or any other Person.
Appears in 1 contract
Samples: Preferred Securities Guarantee Agreement (American Safety Insurance Group LTD)
Rights of Holders. The Each Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount Preference of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the either Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) if an Event of Default has occurred and is continuing, the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount liquidation amount of the Preferred Securities HIGH TIDES have the right among themselves, the other Holders, if any, and the Guarantee Trustee to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust or any other Person.
Appears in 1 contract
Samples: Preferred Securities Guarantee Agreement (Titan Corp)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) if an Event of Default has occurred and is continuing, the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Trust Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount Preference of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Samples: Guarantee Agreement (FPC Capital Ii)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the he Holders of a Majority in Aggregate Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method method, and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust, or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges ----------------- that: (a) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (b) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (c) the Holders of a Majority in Liquidation Amount liquidation amount of the Preferred Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; Agreement and (d) any Holder of Capital Securities may institute institute, to the extent permissible under applicable law, a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Samples: Guarantee Agreement (PMC Capital I)
Rights of Holders. The Guarantor ONEOK expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount Preference of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor ONEOK to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Capital Securities have the right among themselves, the other Holders, if any, and the Guarantee Trustee to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Samples: Guarantee Agreement (National City Capital Trust I)
Rights of Holders. The Parent Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Capital Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Parent Guarantor to enforce its rights under this Guarantee Agreement, Agreement without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust, the Guarantor or any other Person.
Appears in 1 contract
Samples: Guarantee Agreement (Zions Institutional Capital Trust A)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount liquidation amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder of Preferred Securities may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (d) iv any Holder may enforce this Guarantee Agreement, institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Samples: Guarantee Agreement (Usf&g Corp)
Rights of Holders. The Guarantor expressly acknowledges ----------------- that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract
Samples: Guarantee Agreement (Sempra Energy Capital Trust I)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the HoldersHolders of the Preferred Securities; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the HoldersHolders of the Preferred Securities; (ciii) the Holders of a Majority in Liquidation Amount liquidation amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder of the Preferred Securities may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Personperson or entity.
Appears in 1 contract
Samples: Guarantee Agreement (Rouse Company)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in aggregate Liquidation Amount of the Preferred Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its such Holder’s rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee TrusteeIssuer, the Issuer Guarantee Trustee or any other Person.
Appears in 1 contract
Rights of Holders. The Parent Guarantor expressly acknowledges that: (a) this Parent Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (b) the Guarantee Trustee has the right to enforce this Parent Guarantee Agreement on behalf of the Holders; (c) the Holders of a Majority in Liquidation Principal Amount of the Preferred Securities Notes have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Parent Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Parent Guarantee Agreement; and (d) the Trust or any Holder may institute a legal proceeding directly against the Parent Guarantor to enforce its their respective rights under this Parent Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer Company or any other Person.
Appears in 1 contract
Samples: Parent Guarantee Agreement (Orleans Homebuilders Inc)
Rights of Holders. The Guarantor expressly acknowledges that: (ai) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the benefit of the Holders; (bii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (ciii) the Holders of a Majority in Liquidation Amount of the Preferred Trust Securities have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; Agreement and (div) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement, without first instituting a legal proceeding against the Guarantee Trustee, the Issuer or any other Person.
Appears in 1 contract