Common use of Optional Preferred Securities Clause in Contracts

Optional Preferred Securities. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Trust hereby grants an option to the Underwriter to purchase up to 300,000 Optional Preferred Securities at the price per share set forth in the immediately preceding paragraph. The option hereby granted will expire 30 days after the date hereof and may be exercised in whole or in part, but only once, solely for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Preferred Securities, upon notice by the Underwriter to the Trust setting forth the number of Optional Preferred Securities as to which the Underwriter is exercising the option and the time and date of payment and delivery for such Optional Preferred Securities. Any such time and date of delivery (a "Date of Delivery") shall be determined by the Underwriter, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time. If the option is exercised as to all or any portion of the Optional Preferred Securities, the Underwriter will purchase and the Trust agrees to sell to the Underwriter that proportion of the total number of Optional Preferred Securities to be sold by the Trust which the number of Initial Preferred Securities set forth in Schedule A opposite the name of the Underwriter bears to the total number of Initial Preferred Securities, subject in each case to such adjustments as the Underwriter in its discretion shall make to eliminate any sales or purchases of fractional shares.

Optional Preferred Securities. In addition, on the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Trust hereby grants an option to the Underwriter Underwriters, severally and not jointly, to purchase up to 300,000 150,000 Optional Preferred Securities at the price per share set forth in the immediately preceding paragraph. The option hereby granted will expire 30 days after the date hereof and may be exercised in whole or in part, but part from time to time only once, solely for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Preferred Securities, Securities upon notice by the Underwriter Underwriters to the Trust setting forth the number of Optional Preferred Securities as to which the Underwriter is Underwriters are then exercising the option and the time and date of payment and delivery for such Optional Preferred Securities. Any such time and date of delivery (a "Date of Delivery") shall be determined by the UnderwriterUnderwriters, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time. If the option is exercised as to all or any portion of the Optional Preferred Securities, each of the Underwriter Underwriters, acting severally and not jointly, will purchase and the Trust agrees to sell to the Underwriter Underwriters that proportion of the total number of Optional Preferred Securities to be sold by the Trust which the number of Initial Preferred Securities set forth in Schedule A opposite the name of the such Underwriter bears to the total number of Initial Preferred Securities, subject in each case to such adjustments as the Underwriter Underwriters in its their discretion shall make to eliminate any sales or purchases of fractional shares.

Optional Preferred Securities. In addition, on the basis of the representations and warranties herein in this Agreement contained and subject to the terms and conditions herein set forthforth in this Agreement, the Trust hereby grants an option to the Underwriter Underwriters, severally and not jointly, to purchase up to 300,000 150,000 Optional Preferred Securities at the price per share set forth in the immediately preceding paragraph. The option hereby granted will expire 30 days at the close of business, St. Louis, Missouri time, on the 30th day after the date hereof of this Agreement and may be exercised in whole or in part, but part from time to time only once, solely for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Preferred Securities, Securities upon notice by the Underwriter Underwriters to the Trust and the Company setting forth the number of Optional Preferred Securities as to which the Underwriter is Underwriters are then exercising the option and the time and date of payment and delivery for such Optional Preferred Securities. Any such time and date of delivery (a "Date of Delivery") shall be determined by the UnderwriterUnderwriters, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time. If the option is exercised as to all or any portion of the Optional Preferred Securities, each of the Underwriter Underwriters, acting severally and not jointly, will purchase and the Trust agrees to sell to the Underwriter Underwriters that proportion of the total number of Optional Preferred Securities to be sold by the Trust which the number of Initial Preferred Securities set forth in Schedule A opposite the name of the such Underwriter bears to the total number of Initial Preferred Securities, subject in each case to such adjustments as the Underwriter Underwriters in its their discretion shall make to eliminate any sales or purchases of fractional shares.

Optional Preferred Securities. In addition, on the basis of the representations and warranties herein in this Agreement contained and subject to the terms and conditions herein set forthforth in this Agreement, the Trust hereby grants an option to the Underwriter Underwriters, severally and not jointly, to purchase up to 300,000 180,000 Optional Preferred Securities at the price per share set forth in the immediately preceding paragraph. The option hereby granted will expire 30 days at the close of business, St. Louis, Missouri time, on the 30th day after the date hereof of this Agreement and may be exercised in whole or in part, but part from time to time only once, solely for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Preferred Securities, Securities upon notice by the Underwriter Legg Mason to the Trust setting forth the number of Optional Preferred Securities Preferrxx Xexxxxxies as to which the Underwriter is Underwriters are then exercising the option and the time and date of payment and delivery for such Optional Preferred Securities. Any such time and date of delivery (a "Date of Delivery") shall be determined by the UnderwriterUnderwriters, but but, if notice of exercise is given to the Trust following the Closing Time, shall not be earlier than the third day after such notice is given (without consent of the Company), and in any event, shall not be later than seven full business days the 30th day after the exercise date of said option, nor in any event this Agreement or prior to the Closing Time. If the option is exercised as to all or any portion of the Optional Preferred Securities, each of the Underwriter Underwriters, acting severally and not jointly, will purchase and the Trust agrees to sell to the Underwriter Underwriters that proportion of the total number of Optional Preferred Securities to be sold by the Trust which the number of Initial Preferred Securities set forth in Schedule A opposite the name of the such Underwriter bears to the total number of Initial Preferred Securities, subject in each case to such adjustments as the Underwriter Underwriters in its their discretion shall make to eliminate any sales or purchases of fractional shares.

Optional Preferred Securities. In addition, on the basis of the representations and warranties herein in this Agreement contained and subject to the terms and conditions herein set forthforth in this Agreement, the Trust hereby grants an option to the Underwriter Underwriters, severally and not jointly, to purchase up to 300,000 180,000 Optional Preferred Securities at the price per share set forth in the immediately preceding paragraph. The option hereby granted will expire 30 days at the close of business, St. Louis, Missouri time, on the 30th day after the date hereof of this Agreement and may be exercised in whole or in part, but part from time to time only once, solely for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Preferred Securities, Securities upon notice by the Underwriter Underwriters to the Trust and the Company setting forth the number of Optional Preferred Securities as to which the Underwriter is Underwriters are then exercising the option and the time and date of payment and delivery for such Optional Preferred Securities. Any such time and date of delivery (a "Date of Delivery") shall be determined by the UnderwriterUnderwriters, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time. If the option is exercised as to all or any portion of the Optional Preferred Securities, each of the Underwriter Underwriters, acting severally and not jointly, will purchase and the Trust agrees to sell to the Underwriter Underwriters that proportion of the total number of Optional Preferred Securities to be sold by the Trust which the number of Initial Preferred Securities set forth in Schedule A opposite the name of the such Underwriter bears to the total number of Initial Preferred Securities, subject in each case to such adjustments as the Underwriter Underwriters in its their discretion shall make to eliminate any sales or purchases of fractional shares.

Optional Preferred Securities. In addition, on the basis of the representations and warranties herein in this Agreement contained and subject to the terms and conditions herein set forthforth in this Agreement, the Trust hereby grants an option to the Underwriter Underwriters, severally and not jointly, to purchase up to 300,000 150,000 Optional Preferred Securities at the price per share set forth in the immediately preceding paragraph. The option hereby granted will expire 30 days at the close of business, Houston, Texas time, on the 30/th/ day after the date hereof of this Agreement and may be exercised in whole or in part, but part from time to time only once, solely for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Preferred Securities, Securities upon notice by the Underwriter Underwriters to the Trust setting forth the number of Optional Preferred Securities as to which the Underwriter is Underwriters are then exercising the option and the time and date of payment and delivery for such Optional Preferred Securities. Any such time and date of delivery (a "Date of Delivery") shall be determined by the UnderwriterUnderwriters, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time. If the option is exercised as to all or any portion of the Optional Preferred Securities, each of the Underwriter Underwriters, acting severally and not jointly, will purchase and the Trust agrees to sell to the Underwriter Underwriters that proportion of the total number of Optional Preferred Securities to be sold by the Trust which the number of Initial Preferred Securities set forth in Schedule A opposite the name of the such Underwriter bears to the total number of Initial Preferred Securities, subject in each case to such adjustments as the Underwriter Underwriters in its their discretion shall make to eliminate any sales or purchases of fractional shares.

Optional Preferred Securities. In addition, on the basis of the representations and warranties herein in this Agreement contained and subject to the terms and conditions herein set forthforth in this Agreement, the Trust hereby grants an option to the Underwriter Underwriters, severally and not jointly, to purchase up to 300,000 _______ Optional Preferred Securities at the price per share set forth in the immediately preceding paragraph. The option hereby granted will expire 30 days after the date hereof of this Agreement and may be exercised in whole or in part, but part from time to time only once, solely for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Preferred Securities, Securities upon notice by the Underwriter Underwriters to the Trust setting forth the number of Optional Preferred Securities as to which the Underwriter is Underwriters are then exercising the option and the time and date of payment and delivery for such Optional Preferred Securities. Any such time and date of delivery (a "Date of Delivery") shall be determined by the UnderwriterUnderwriters, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time. If the option is exercised as to all or any portion of the Optional Preferred Securities, each of the Underwriter Underwriters, acting severally and not jointly, will purchase and the Trust agrees to sell to the Underwriter Underwriters that proportion of the total number of Optional Preferred Securities to be sold by the Trust which the number of Initial Preferred Securities set forth in Schedule A opposite the name of the such Underwriter bears to the total number of Initial Preferred Securities, subject in each case to such adjustments as the Underwriter in its discretion shall make to eliminate any sales or purchases of fractional shares.,