Common use of Outstanding Trust Preferred Securities Clause in Contracts

Outstanding Trust Preferred Securities. The Trust Preferred Securities outstanding at any time are all the Trust Preferred Securities authenticated by the Property Trustee except for those cancelled by it, those delivered to it for cancellation, and those described in this Section as not outstanding. If a Trust Preferred Security is replaced, paid or purchased pursuant to Section 7.6 hereof, it ceases to be outstanding unless the Property Trustee receives proof satisfactory to it that the replaced, paid or purchased Trust Preferred Security is held by a bona fide purchaser. If Trust Preferred Securities are considered paid in accordance with the terms of this Agreement, they cease to be outstanding and Distributions on them shall cease to accumulate.

Outstanding Trust Preferred Securities. The Trust Preferred -------------------------------------- Securities outstanding at any time are all the Trust Preferred Securities authenticated by the Property Trustee except for those cancelled canceled by it, those delivered to it for cancellation, and those described in this Section as not outstanding. If a Trust Preferred Security is replaced, paid or purchased pursuant to Section 7.6 hereof, it ceases to be outstanding unless the Property Trustee receives proof satisfactory to it that the replaced, paid or purchased Trust Preferred Security is held by a bona fide purchaser. If Trust Preferred Securities are considered paid in accordance with the terms of this AgreementDeclaration, they cease to be outstanding and Distributions on them shall cease to accumulatecease.