Common use of Acknowledgement of Rights Clause in Contracts

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the Trust or a trustee of the Trust, if the Preferred Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, any holder of the Trust Securities may institute legal proceedings directly against the Company to enforce such Preferred Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) or interest on the Securities when due, the Company acknowledges that a holder of Trust Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the OnBank Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, OnBank Capital Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the New South Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, New South Capital Trust any holder of the Trust Preferred Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entityPerson. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Preferred Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Preferred Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the UCBH Trust Co. or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, UCBH Trust Co. any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the Firstar Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held 71 81 as the assets of the Trust, Firstar Capital Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the Vesta Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, Vesta Capital Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entityPerson. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the Independent Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Independent Capital Trust, any holder of the Trust Preferred Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) or interest on the Securities when due, the Company acknowledges that a holder of Trust Preferred Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Preferred Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the First Keystone Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, First Keystone Capital Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the Xxxxxx Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, Xxxxxx Capital Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entityPerson. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the First Western Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, First Western Capital Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the SAFECO Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, SAFECO Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the BankBoston Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, BankBoston Capital Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the Sovereign Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, Sovereign Capital Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding Notwith- standing the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the ML Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, ML Capital Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company Corporation acknowledges that, with respect to any Securities held by the Eagle Financial Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Eagle Financial Capital Trust, any holder of the Trust Capital Securities may institute legal proceedings directly against the Company Corporation to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company Corporation to pay principal of (or premium, if any) or interest on the Securities when due, the Company Corporation acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company Corporation acknowledges that, with respect to any Securities held by the Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, any holder of the Trust Capital Securities may institute legal proceedings directly against the Company Corporation to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company Corporation to pay principal of (or premium, if any) or interest on the Securities when due, the Company Corporation acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) or interest on the Securities having a an aggregate principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the Xerox Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, Xerox Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the First USA Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, First USA Capital Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the Patriot Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, Patriot Capital Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the Puget Sound Energy Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, Puget Sound Energy Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the ALBANK Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, ALBANK Capital Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person Person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or 69 interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company Corporation acknowledges that, with respect to any Securities held by the First Commonwealth Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, First Commonwealth Capital Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company Corporation to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entityPerson. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company Corporation to pay principal of (or premium, if any) , or interest on the Securities when due, the Company Corporation acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company Corporation acknowledges that, with respect to any Securities held by the Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, any holder of the Trust Capital Securities may institute legal proceedings directly against the Company Corporation to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company Corporation to pay principal of (or premium, if any) or interest on the Securities when due, the Company Corporation acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the Community Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, Community Capital Trust any holder of the Trust Capital Securities may institute legal proceedings proceed- ings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person Person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly di- rectly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the Progress Capital Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, Progress Capital Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.

Acknowledgement of Rights. The Company acknowledges that, with respect to any Securities held by the Trust or a trustee of the Trustsuch trust, if the Preferred Property Trustee of such Trust fails to enforce its rights under this Indenture as the holder of the Securities held as the assets of the Trust, Trust any holder of the Trust Capital Securities may institute legal proceedings directly against the Company to enforce such Preferred Property Trustee's rights under this Indenture without first instituting any legal proceedings against such Preferred Property Trustee or any other person or entity. Notwithstanding the foregoing, if an Event of Default has occurred and is continuing and such event is attributable to the failure of the Company to pay principal of (or premium, if any) , or interest on the Securities when due, the Company acknowledges that a holder of Trust Capital Securities may directly di- rectly institute a proceeding for enforcement of payment to such holder of the principal of (or premium, if any) , or interest on the Securities having a principal amount equal to the aggregate liquidation amount of the Trust Capital Securities of such holder on or after the respective due date specified in the Securities.