TRUST COMMON SECURITIES HOLDER. Section 5.1 Debenture Issuer's Purchase of Common Securities. In ------------------------------------------------ accordance with Section 7.1(a), on each Closing Date, the Debenture Issuer will purchase all of the Common Securities issued by the Trust on such Closing Date, for an amount at least equal to 3% of the capital of the Trust at such time, at the same time as Capital Securities issued on such Closing Date are sold. The aggregate stated Liquidation Amount of Common Securities outstanding at any time shall not be less than 3% of the capital of the Trust.
Appears in 2 contracts
Samples: Trust Agreement (Dominion Resources Capital Trust Iv), Trust Agreement (Dominion Resources Inc /Va/)
TRUST COMMON SECURITIES HOLDER. Section 5.1 Debenture Issuer's Purchase of Common Securities. In ------------------------------------------------ accordance with Section 7.1(a), on each Closing Date, the Debenture Issuer will purchase all of the Common Securities issued by the Trust on such Closing Date, for an amount at least equal to 3% of the capital of the Trust at such time, at the same time as Capital Trust Preferred Securities issued on such Closing Date are sold. The aggregate stated Liquidation Amount of Common Securities outstanding at any time shall not be less than 3% of the capital of the Trust.
Appears in 2 contracts
Samples: Trust Agreement (CSX Capital Trust 1), Trust Agreement (Dominion Resources Inc /Va/)
TRUST COMMON SECURITIES HOLDER. Section SECTION 5.1 Debenture Issuer's Purchase of Common Securities. In ------------------------------------------------ accordance with Section 7.1(a), on each On the Closing Date, the Debenture Issuer will purchase all of the Common Securities issued by the Trust on such the Closing Date, for an amount at least equal to 3% of the capital of the Trust at such time, at the same time as Capital Preferred Securities issued on such Closing Date are sold. The aggregate stated Liquidation Amount liquidation amount of Common Securities outstanding at any time shall not be less than 3% of the capital of the Trust.
Appears in 2 contracts
Samples: Declaration of Trust (Provident Capital Trust Iv), Declaration of Trust (Provident Capital Trust Iii)
TRUST COMMON SECURITIES HOLDER. Section 5.1 Debenture Issuer's Purchase of Common Securities. In accordance ------------------------------------------------ accordance with Section 7.1(a), on each Closing Date, the Debenture Issuer will purchase all of the Common Securities issued by the Trust on such Closing Date, for an amount at least equal to 3% of the capital of the Trust at such time, at the same time as Capital Trust Preferred Securities issued on such Closing Date are sold. The aggregate stated Liquidation Amount of Common Securities outstanding at any time shall not be less than 3% of the capital of the Trust.
Appears in 1 contract
Samples: Trust Agreement (Markel Corp)
TRUST COMMON SECURITIES HOLDER. Section 5.1 Debenture Issuer's Purchase of Common Securities. In accordance ------------------------------------------------ accordance with Section 7.1(a), on each Closing Date, the Debenture Issuer will purchase all of the Common Securities issued by the Trust on such Closing Date, for an amount at least equal to 3% of the capital of the Trust at such time, at the same time as Capital Trust Preferred Securities issued on such Closing Date are sold. The aggregate stated Liquidation Amount of Common Securities outstanding at any time shall not be less than 3% of the capital of the Trust.
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TRUST COMMON SECURITIES HOLDER. Section 5.1 Debenture Issuer's Purchase of Common Securities. In ------------------------------------------------ accordance with Section 7.1(a), on each On the Closing Date, Date the Debenture Issuer will purchase all of the Common Securities issued by the Trust on such Closing DateTrust, for an amount at least equal to 3% of the capital of the Trust at such timeTrust, at the same time as the Capital Securities issued on such Closing Date are sold. The aggregate stated Liquidation Amount of Common Securities outstanding at any time shall not be less than 3% of the capital of the Trust.
Appears in 1 contract
TRUST COMMON SECURITIES HOLDER. Section 5.1 Debenture Issuer's Purchase of Common Securities. In ------------------------------------------------ accordance with Section 7.1(a), on each Closing Date, the Debenture Issuer will purchase all of the Common Securities issued by the Trust on such Closing Date, for an amount at least equal to 3% of the capital of the Trust at such time, at the same time as Capital Trust Preferred Securities issued on such Closing Date are sold. The aggregate stated Liquidation Amount of Common Securities outstanding at any time shall not be less than 3% of the capital of the Trust.
Appears in 1 contract