Common use of Issuance of the Trust Preferred Securities Clause in Contracts

Issuance of the Trust Preferred Securities. (a) On [ ], the Depositor, on behalf of the Issuer Trust and pursuant to the Original Trust Agreement, executed and delivered the Underwriting Agreement. On the Closing Date, an Administrative Trustee, on behalf of the Issuer Trust, in connection with the delivery on such date of [ ] Normal APEX to the underwriters named in the Underwriting Agreement, shall execute in accordance with Section 5.3 and deliver to the Clearing Agency a Normal APEX Certificate or Certificates that are Book-Entry Trust Preferred Securities Certificates, registered in the name of the Clearing Agency (or its nominee) representing [ ] Normal APEX, against payment of $1,000 per Normal APEX, or $[ ] in the aggregate as the purchase price therefor in immediately available funds, which amount the Administrative Trustee shall promptly deliver to the Property Trustee or its designee.