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 Junior Subordinated Notes pursuant to Section 104 of the Supplemental Indenture, shall be payable quarterly in arrears on January 15, April 15, July 15 and October 15 of each year, commencing on April 15, 2004. 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), 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)

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Distributions on the Trust. Securities shall be cumulative cumulative, and accrue shall accumulate whether or not there are funds of the Trust available for the payment of Distributions. Distributions shall accumulate from the Issue Date January 21, 1998, and, except in during any Extension Period with respect to the event that the Depositor exercises its right to extend the interest payment period for the Junior Subordinated Notes pursuant to Section 104 of the Supplemental IndentureDebentures, shall be payable quarterly in arrears on January 15March 31, April 15June 30, July 15 September 30 and October 15 December 31 of each year, commencing on April 15March 31, 20041998. 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), ) 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 (Intrust Financial Corp /)

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 Notes pursuant to Section 104 of the Supplemental Indenture, shall be payable quarterly in arrears on January 15March 31, April 15June 30, July 15 September 30 and October 15 December 31 of each year, commencing on April 15September 30, 20041998. 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)

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 Notes Debentures pursuant to Section 104 of the Supplemental Indenture, shall be payable quarterly in arrears on January 15March 31, April 15June 30, July 15 September 30 and October 15 December 31 of each year, commencing on April 15June 30, 20042000. 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 (Semco 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 Notes pursuant to Section 104 of the Supplemental Indenture, shall be payable quarterly in arrears on January 15March 31, April 15June 30, July 15 September 30 and October 15 December 31 of each year, commencing on April 15June 30, 20041997. 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 (Alabama 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 Notes pursuant to Section 104 of the Supplemental Indenture, shall be payable quarterly in arrears on January 15March 31, April 15June 30, July 15 September 30 and October 15 December 31 of each year, commencing on April 15December 31, 20041998. 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 (Savannah Electric & Power Co)

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 Notes pursuant to Section 104 of the Supplemental Indenture, shall be payable quarterly in arrears on January 15March 31, April 15June 30, July 15 September 30 and October 15 December 31 of each year, commencing on April 15March 31, 20041999. 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 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 Notes pursuant to Section 104 of the Supplemental Indenture, shall be payable quarterly in arrears on January 15March 31, April 15June 30, July 15 September 30 and October 15 December 31 of each year, commencing on April 15September 30, 20042002. 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)

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