Common use of Appointment of Conversion Agent Clause in Contracts

Appointment of Conversion Agent. The Conversion Agent shall convert the Trust Securities of the Holders in accordance with Section 4.03 hereof. The Administrative Trustees may revoke such power and remove the Conversion Agent if such Trustees determine in their sole discretion that the Conversion Agent shall have failed to perform its obligations under this Trust Agreement in any material respect. The Conversion Agent shall initially be the Bank, and any co-paying agent chosen by the Bank, and acceptable to the Administrative Trustees and the Depositor. Any Person acting as Conversion Agent shall be permitted to resign as Conversion Agent upon 30 days written notice to the Administrative Trustees and the Depositor. In the event that the Bank shall no longer be the Conversion Agent or a successor Conversion Agent shall resign or its authority to act shall be revoked, the Administrative Trustees shall appoint a successor that is acceptable to the Depositor to act as Conversion Agent (which shall be a bank or a trust company). The provisions of Sections 8.01, 8.03 and 8.06 of this Trust Agreement shall apply to the Bank also in its role as Conversion Agent, for so long as the Bank shall act as Conversion Agent and, to the extent applicable, to any other conversion agent appointed hereunder, and any Conversion Agent shall be bound by the requirements with respect to conversion agents of securities issued pursuant to the Trust Indenture Act. Any reference in this Trust Agreement to the Conversion Agent shall include any co-paying agent unless the context requires otherwise.

Appears in 3 contracts

Samples: Trust Agreement (Omnicare Inc), Trust Agreement (Omnicare Capital Trust Ii), Trust Agreement (Omnicare Inc)

AutoNDA by SimpleDocs

Appointment of Conversion Agent. The Conversion Agent shall convert the Trust Securities of the Holders Securityholders in accordance with Section 4.03 402A hereof. The Administrative Trustees may revoke such power and remove the Conversion Agent if such Trustees determine in their sole discretion that the Conversion Agent shall have failed to perform its obligations under this Trust Agreement in any material respect. The Conversion Agent shall initially be the Bank, and any co-paying agent chosen by the Bank, and acceptable to the Administrative Trustees and the Depositor. Any Person acting as Conversion Agent shall be permitted to resign as Conversion Agent upon 30 days days' written notice to the Administrative Trustees Trustees, the Property Trustee and the Depositor. In the event that the Bank shall no longer be the Conversion Agent or a successor Conversion Agent shall resign or its authority to act shall be revoked, the Administrative Trustees shall appoint a successor that is acceptable to the Property Trustee and the Depositor to act as Conversion conversion Agent (which shall be a bank or a trust company). The provisions of Sections 8.01801, 8.03 803 and 8.06 806 of this Trust Agreement shall apply to the Bank also in its role as Conversion Agent, for so long as the Bank shall act as Conversion Agent and, to the extent applicable, to any other conversion agent appointed hereunder, and any Conversion Agent shall be bound by the requirements with respect to conversion agents of securities issued pursuant to the Trust Indenture Act. Any reference in this Trust Agreement to the Conversion Agent shall include any co-paying agent unless the context requires otherwise.

Appears in 2 contracts

Samples: Trust Agreement (Southern Community Financial Corp), Trust Agreement (Southern Community Capital Trust I)

Appointment of Conversion Agent. The Conversion Agent shall convert the Trust Securities of the Holders Securityholders in accordance with Section 4.03 403 hereof. The Administrative Trustees may revoke such power and remove the Conversion Agent if such Trustees determine in their sole discretion that the Conversion Agent shall have failed to perform its obligations under this Trust Agreement in any material respect. The Conversion Agent shall initially be the Bank, and any co-paying agent chosen by the Bank, and acceptable to the Administrative Trustees and the Depositor. Any Person acting as Conversion Agent shall be permitted to resign as Conversion Agent upon 30 days days' written notice to the Administrative Trustees Trustees, the Property Trustee and the Depositor. In the event that the Bank shall no longer be the Conversion Agent or a successor Conversion Agent shall resign or its authority to act shall be revoked, the Administrative Trustees shall appoint a successor that is acceptable to the Property Trustee and the Depositor to act as Conversion conversion Agent (which shall be a bank or a trust company). The provisions of Sections 8.01801, 8.03 803 and 8.06 806 of this Trust Agreement shall apply to the Bank also in its role as Conversion Agent, for so long as the Bank shall act as Conversion Agent and, to the extent applicable, to any other conversion agent appointed hereunder, and any Conversion Agent shall be bound by the requirements with respect to conversion agents of securities issued pursuant to the Trust Indenture Act. Any reference in this Trust Agreement to the Conversion Agent shall include any co-paying agent unless the context requires otherwise.

Appears in 2 contracts

Samples: Trust Agreement (American Bank Inc), Trust Agreement (Southside Capital Trust Ii)

Appointment of Conversion Agent. The Conversion Agent shall convert the Trust Securities of the Holders Securityholders in accordance with Section 4.03 hereof. The Administrative Trustees may revoke such power and remove the Conversion Agent if such Trustees determine in their sole discretion that the Conversion Agent shall have failed to perform its obligations under this Trust Agreement in any material respect. The Conversion Agent shall initially be the Bank, and any co-paying agent chosen by the Bank, and acceptable to the Administrative Trustees and the Depositor. Any Person acting as Conversion Agent shall be permitted to resign as Conversion Agent upon 30 days days’ written notice to the Administrative Trustees Trustees, the Property Trustee and the Depositor. In the event that the Bank shall no longer be the Conversion Agent or a successor Conversion Agent shall resign or its authority to act shall be revoked, the Administrative Trustees shall appoint a successor that is acceptable to the Property Trustee and the Depositor to act as Conversion conversion Agent (which shall be a bank or a trust company). The provisions of Sections 8.01, 8.03 and 8.06 of this Trust Agreement shall apply to the Bank also in its role as Conversion Agent, for so long as the Bank shall act as Conversion Agent and, to the extent applicable, to any other conversion agent appointed hereunder, and any Conversion Agent shall be bound by the requirements with respect to conversion agents of securities issued pursuant to the Trust Indenture Act. Any reference in this Trust Agreement to the Conversion Agent shall include any co-paying agent unless the context requires otherwise.

Appears in 1 contract

Samples: Trust Agreement (Bridge Bancorp Inc)

Appointment of Conversion Agent. The Conversion Agent shall convert the Trust Preferred Securities of the Holders in accordance with Section 4.03 hereofAnnex I hereto. The Administrative Trustees may revoke such power and remove the Conversion Agent if such Trustees determine in their sole discretion that the Conversion Agent shall have failed to perform its obligations under this Trust Agreement in any material respect. The Conversion Agent shall initially be the BankDebenture Trustee, and any co-paying agent chosen by the BankDebenture Trustee, and acceptable to the Administrative Trustees and the Depositor. Any Person acting as Conversion Agent shall be permitted to resign as Conversion Agent upon 30 days days' written notice to the Administrative Trustees Trustees, the Property Trustee and the Depositor. In the event that the Bank Debenture Trustee shall no longer be the Conversion Agent or a successor Conversion Agent shall resign or its authority to act shall be revoked, the Administrative Trustees shall appoint a successor that is acceptable to the Property Trustee and the Depositor to act as Conversion conversion Agent (which shall be a bank or a trust company). The provisions of Sections 8.01, 8.03 3.6 through 3.15 and 8.06 Article X of this Trust Agreement shall apply to the Bank also in its role as Conversion Agent, for so long as the Bank shall act as any Conversion Agent and, to the extent applicable, to any other conversion agent appointed hereunder, mutatis mutandis, and any Conversion Agent shall be bound by the requirements with respect to conversion agents of securities issued pursuant to the Trust Indenture Act. Any reference in this Trust Agreement to the Conversion Agent shall include any co-paying agent unless the context requires otherwise.

Appears in 1 contract

Samples: Trust Agreement (ServisFirst Bancshares, Inc.)

Appointment of Conversion Agent. The Conversion Agent shall convert the Trust Securities of the Holders Securityholders in accordance with Section 4.03 hereof4.3. The Administrative Trustees may revoke such power and remove the Conversion Agent if such Trustees determine in their sole discretion that the Conversion Agent shall have failed to perform its obligations under this Trust Agreement in any material respect. The Conversion Agent shall initially be the Bank, and any co-paying agent chosen by the Bank, and acceptable to the Administrative Trustees and the Depositor. Any Person acting as Conversion Agent shall be permitted to resign as Conversion Agent upon 30 days days' written notice to the Administrative Trustees Trustees, the Property Trustee and the Depositor. In the event that the Bank shall no longer be the Conversion Agent or a successor Conversion Agent shall resign or its authority to act shall be revoked, the Administrative Trustees shall appoint a successor that is acceptable to the Depositor to act as Conversion Agent (which shall be a bank or a trust company)) that is acceptable to the Property Trustee and the Depositor to act as Conversion Agent. The provisions of Sections 8.018.1, 8.03 8.3 and 8.06 of this Trust Agreement 8.6 shall apply to the Bank also in its role as Conversion Agent, Agent for so long as the Bank shall act as Conversion Agent and, to the extent applicable, to any other conversion agent appointed hereunder, and any . Any Conversion Agent shall be bound by the requirements with respect to conversion agents of securities issued pursuant to the Trust Indenture Act. Any reference in this Trust Agreement to the Conversion Agent shall include any co-paying agent unless the context requires otherwise.

Appears in 1 contract

Samples: Trust Agreement (Txi Capital Trust I)

Appointment of Conversion Agent. The Conversion Agent shall convert the Trust Securities of the Holders Securityholders in accordance with Section 4.03 403 hereof. The Administrative Trustees may revoke such power and remove the Conversion Agent if such Trustees determine in their sole discretion that the Conversion Agent shall have failed to perform its obligations under this Trust Agreement in any material respect. The Conversion Agent shall initially be the BankProperty Trustee, and any co-paying agent chosen by the BankProperty Trustee, and acceptable to the Administrative Trustees and the Depositor. Any Person acting as Conversion Agent shall be permitted to resign as Conversion Agent upon 30 days days' written notice to the Administrative Trustees Trustees, the Property Trustee and the Depositor. In the event that the Bank Property Trustee shall no longer be the Conversion Agent or a successor Conversion Agent shall resign or its authority to act shall be revoked, the Administrative Trustees shall appoint a successor that is acceptable to the Property Trustee and the Depositor to act as Conversion conversion Agent (which shall be a bank or a trust company). The provisions of Sections 8.01801, 8.03 803 and 8.06 806 of this Trust Agreement shall apply to the Bank Property Trustee also in its role as Conversion Agent, for so long as the Bank Property Trustee shall act as Conversion Agent and, to the extent applicable, to any other conversion agent appointed hereunder, and any Conversion Agent shall be bound by the requirements with respect to conversion agents of securities issued pursuant to the Trust Indenture Act. Any reference in this Trust Agreement to the Conversion Agent shall include any co-co- paying agent unless the context requires otherwise.

Appears in 1 contract

Samples: Trust Agreement (Greater Atlantic Financial Corp)

AutoNDA by SimpleDocs

Appointment of Conversion Agent. The Conversion Agent shall convert the Trust Securities of the Holders in accordance with Section 4.03 hereof4.3. The Administrative Trustees may revoke such power and remove the Conversion Agent if such Trustees determine in their sole discretion that the Conversion Agent shall have failed to perform its obligations under this Trust Agreement in any material respect. The Conversion Agent shall initially be the Bank, and any co-paying agent chosen by the Bank, and acceptable to the Administrative Trustees and the Depositor. Any Person acting as Conversion Agent shall be permitted to resign as Conversion Agent upon giving 30 days written notice to the Administrative Trustees Trustees, the Property Trustee and the Depositor. In the event that the Bank shall no longer be the Conversion Agent or a successor Conversion Agent shall resign or its authority to act shall be revoked, the Administrative Trustees shall appoint a successor that is acceptable to the Depositor to act as Conversion Agent (which shall be a bank or a trust company)) that is acceptable to the Property Trustee and the Depositor to act as Conversion Agent. The provisions of Sections 8.018.1, 8.03 8.3 and 8.06 of this Trust Agreement 8.6 shall apply to the Bank also in its role as Conversion Agent, Agent for so long as the Bank shall act as Conversion Agent and, to the extent applicable, to any other conversion agent appointed hereunder, and any . Any Conversion Agent shall be bound by the requirements with respect to conversion agents of securities issued pursuant to the Trust Indenture Act. Any reference in this Trust Agreement to the Conversion Agent shall include any co-paying agent unless the context requires otherwise. The Conversion Agent shall be entitled to the rights and protections extended to the Property Trustee when acting in such capacity.

Appears in 1 contract

Samples: Trust Agreement (Gentiva Health Services Inc)

Appointment of Conversion Agent. The Conversion Agent shall convert the Trust Securities of the Holders Securityholders in accordance with Section 4.03 403 hereof. The Administrative Trustees may revoke such power and remove the Conversion Agent if such Trustees determine in their sole discretion that the Conversion Agent shall have failed to perform its obligations under this Trust Agreement in any material respect. The Conversion Agent shall initially be the Bank, and any co-paying agent chosen by the Bank, and acceptable to the Administrative Trustees and the Depositor. Any Person acting as Conversion Agent shall be permitted to resign as Conversion Agent upon 30 days days' written notice to the Administrative Trustees Trustees, the Property Trustee and the Depositor. In the event that the Bank shall no longer be the Conversion Agent or a successor Conversion Agent shall resign or its authority to act shall be revoked, the Administrative Trustees shall appoint a successor that is acceptable to the Property Trustee and the Depositor to act as Conversion conversion Agent (which shall be a bank or a trust company). The provisions of Sections 8.01801, 8.03 803 and 8.06 806 of this Trust Agreement shall apply to the Bank also in its role as Conversion Agent, for so long as the Bank shall act as Conversion Agent and, to the extent applicable, to any other conversion agent appointed hereunder, and any Conversion Agent shall be bound by the requirements with respect to conversion agents of securities issued pursuant to the Trust Indenture Act. Any reference in this Trust Agreement to the Conversion Agent shall include any co-co- paying agent unless the context requires otherwise.

Appears in 1 contract

Samples: Trust Agreement (Ifc Capital Trust Ii)

Appointment of Conversion Agent. The Conversion Agent shall convert the Trust Securities of the Holders Securityholders in accordance with Section 4.03 5 hereof. The Administrative Trustees may revoke such power and remove the Conversion Agent if such Trustees determine in their sole discretion that the Conversion Agent shall have failed to perform its obligations under this Trust Agreement in any material respect. The Conversion Agent shall initially be the Bank, and any co-paying agent chosen by the Bank, and acceptable to the Administrative Trustees and the Depositor. Any Person acting as Conversion Agent shall be permitted to resign as Conversion Agent upon 30 days days' written notice to the Administrative Trustees Trustees, the Property Trustee and the Depositor. In the event that the Bank shall no longer be the Conversion Agent or a successor Conversion Agent shall resign or its authority to act shall be revoked, the Administrative Trustees shall appoint a successor that is acceptable to the Property Trustee and the Depositor to act as Conversion Agent (which shall be a bank or a trust company). The provisions of Sections 8.015.1, 8.03 5.3 and 8.06 5.6 of this the Trust Agreement shall apply to the Bank also in its role as Conversion Agent, for so long as the Bank shall act as Conversion Agent and, to the extent applicable, to any other conversion agent appointed hereunder, and any Conversion Agent shall be bound by the requirements with respect to conversion agents of securities issued pursuant to the Trust Indenture Act. Any reference in this Trust Agreement to the Conversion Agent shall include any co-paying agent unless the context requires otherwise.

Appears in 1 contract

Samples: Trust Agreement (CNB Capital Trust I)

Appointment of Conversion Agent. The Conversion Agent shall convert the Trust Securities of the Holders in accordance with Section 4.03 hereof4.3. The Administrative Trustees may revoke such power and remove the Conversion Agent if such Trustees determine in their sole discretion that the Conversion Agent shall have failed to perform its obligations under this Trust Agreement in any material respect. The Conversion Agent shall initially be the Bank, and any co-paying agent chosen by the Bank, and acceptable to the Administrative Trustees and the Depositor. Any Person acting as Conversion Agent shall be permitted to resign as Conversion Agent upon 30 days days' written notice to the Administrative Trustees Trustees, the Property Trustee and the Depositor. In the event that the Bank shall no longer be the Conversion Agent or a successor Conversion Agent shall resign or its authority to act shall be revoked, the Administrative Trustees shall appoint a successor that is acceptable to the Depositor to act as Conversion Agent (which shall be a bank or a trust company)) that is acceptable to the Property Trustee and the Depositor to act as Conversion Agent. The provisions of Sections 8.018.1, 8.03 8.3 and 8.06 of this Trust Agreement 8.6 shall apply to the Bank also in its role as Conversion Agent, Agent for so long as the Bank shall act as Conversion Agent and, to the extent applicable, to any other conversion agent appointed hereunder, and any . Any Conversion Agent shall be bound by the requirements with respect to conversion agents of securities issued pursuant to the Trust Indenture Act. Any reference in this Trust Agreement to the Conversion Agent shall include any co-paying agent unless the context requires otherwise. The Conversion Agent shall be entitled to the rights and protections extended to the Property Trustee when acting in such capacity.

Appears in 1 contract

Samples: Trust Agreement (Caremark Rx Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.