Common use of Distributions on the Trust Clause in Contracts

Distributions on the Trust. Securities shall be cumulative and accrue from the Issue Date and, except in the event that the Depositor exercises its right to extend the interest payment period for the Subordinated Debentures pursuant to Section __ of the Supplemental Indenture, shall be payable quarterly in arrears on ________, ________, ________ and ________ of each year, commencing on __________, ____. If any date on which Distributions are otherwise payable on the Trust Securities is not a Business Day, then the payment of such Distribution shall be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, payment of such Distribution shall be made on the immediately preceding Business Day, in each case, with the same force and effect as if made on such date (each such date, a "Distribution Date").

Appears in 2 contracts

Samples: Trust Agreement (HPH Homebuilders 2000 Lp), Trust Agreement (DRH Regrem Xii Lp)

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Distributions on the Trust. Securities shall be cumulative and accrue from the Issue Date and, except in the event that the Depositor exercises its right to extend the interest payment period for the Subordinated Debentures pursuant to Section __ 104 of the Supplemental Indenture, shall be payable quarterly in arrears on ________March 31, ________June 30, ________ September 30 and ________ December 31 of each year, commencing on __________, ____. If any date on which Distributions are otherwise payable on the Trust Securities is not a Business Day, then the payment of such Distribution shall be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, payment of such Distribution shall be made on the immediately preceding Business Day, in each case, with the same force and effect as if made on such date (each such date, a "Distribution Date").

Appears in 2 contracts

Samples: Trust Agreement (Semco Capital Trust), Trust Agreement (Semco Capital Trust Iii)

Distributions on the Trust. Securities shall be cumulative and accrue from the Issue Date and, except in the event that the Depositor exercises its right to extend the interest payment period for the Junior Subordinated Debentures Notes pursuant to Section __ 104 of the Supplemental Indenture, shall be payable quarterly in arrears on ________March 31, ________June 30, ________ September 30 and ________ December 31 of each year, commencing on __________, ____, 200__. If any date on which Distributions are otherwise payable on the Trust Securities is not a Business Day, then the payment of such Distribution shall be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, payment of such Distribution shall be made on the immediately preceding Business Day, in each case, with the same force and effect as if made on such date (each such date, a "Distribution Date").

Appears in 1 contract

Samples: Trust Agreement (Southern Co Capital Trust Vii)

Distributions on the Trust. Securities shall be cumulative and accrue from the Issue Date and, except in the event that the Depositor exercises its right to extend the interest payment period for the Junior Subordinated Debentures Notes pursuant to Section __ 104 of the Supplemental Indenture, shall be payable quarterly in arrears on ________January 1, ________April 1, ________ July 1 and ________ October 1 of each year, commencing on __________January 1, ____2001. If any date on which Distributions are otherwise payable on the Trust Securities is not a Business Day, then the payment of such Distribution shall be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, payment of such Distribution shall be made on the immediately preceding Business Day, in each case, with the same force and effect as if made on such date (each such date, a "Distribution Date").

Appears in 1 contract

Samples: Trust Agreement (Southern Energy Inc)

Distributions on the Trust. Securities shall be cumulative and accrue from the Issue Date and, except in the event that the Depositor exercises its right to extend the interest payment period for the Junior Subordinated Debentures Notes pursuant to Section __ 104 of the Supplemental Indenture, shall be payable quarterly in arrears on ________March 30, ________June 30, ________ September 30 and ________ December 30 of each year, commencing on __________June 30, ____2002. If any date on which Distributions are otherwise payable on the Trust Securities is not a Business Day, then the payment of such Distribution shall be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, payment of such Distribution shall be made on the immediately preceding Business Day, in each case, with the same force and effect as if made on such date (each such date, a "Distribution Date").

Appears in 1 contract

Samples: Trust Agreement (Mississippi Power Co)

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Distributions on the Trust. Securities shall be cumulative and accrue from the Issue Date and, except in the event that the Depositor exercises its right to extend the interest payment period for the Junior Subordinated Debentures Notes pursuant to Section __ 104 of the Supplemental Indenture, shall be payable quarterly in arrears on ________, ________, ________ and ________ of each year, commencing on __________, ____. If any date on which Distributions are otherwise payable on the Trust Securities is not a Business Day, then the payment of such Distribution shall be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, payment of such Distribution shall be made on the immediately preceding Business Day, in each case, with the same force and effect as if made on such date (each such date, a "Distribution Date").

Appears in 1 contract

Samples: Trust Agreement (Georgia Power Co)

Distributions on the Trust. Securities shall be cumulative cumulative, and accrue from shall accumulate whether or not there are funds of the Issue Date and, except in the event that the Depositor exercises its right to extend the interest payment period Trust available for the Subordinated Debentures pursuant to Section __ payment of the Supplemental Indenture, Distributions. Distributions shall be payable quarterly in arrears on accumulate from ________, ________2000, ________ and, except during any Extended Interest Payment Period with respect to the Debentures, shall be payable quarterly in arrears on the last calendar day of March, June, September and ________ December of each year, commencing on __________, ____200 . If any date on which Distributions are a Distribution is otherwise payable on the Trust Securities is not a Business Day, then the payment of such Distribution shall be made on the next succeeding day which that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment of such Distribution shall be made on the immediately preceding Business DayDay (and without any reduction of interest or any other payment in respect of any such acceleration), in each case, case with the same force and effect as if made on such date (each such datedate on which distributions are payable in accordance with this Section 401(a), a "Distribution Date").

Appears in 1 contract

Samples: Trust Agreement (Front Range Capital Trust I)

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