Common use of Ownership of Trust Common Securities Clause in Contracts

Ownership of Trust Common Securities. If and so long as a Trust is the Holder of all Debentures of a particular series, the Company shall (a) maintain, directly or indirectly, 100% ownership of said Trust’s Trust Common Securities, provided that certain successors to the Company which are permitted as provided below may succeed to the Company’s ownership of said Trust Common Securities, (b) not voluntarily dissolve, wind-up or liquidate said Trust, except (i) in connection with a distribution of said Debentures to the holders of said Trust’s Trust Preferred Securities in liquidation of said Trust or (ii) in connection with certain mergers, consolidations or amalgamations as permitted by said Trust’s trust agreement, and (c) use its reasonable efforts, consistent with the terms and provisions of said trust agreement, to cause said Trust to remain classified as a grantor trust and not as an association taxable as a corporation for United States federal income tax purposes.

Ownership of Trust Common Securities. If and so long as a Trust is the Holder of all Debentures of a particular series, the Company shall (ai) maintain, directly or indirectly, 100% ownership of said Trust’s 's Trust Common Securities, provided that certain successors to the Company which are permitted as provided below may succeed to the Company’s 's ownership of said Trust Common Securities, (bii) not voluntarily dissolve, wind-wind- up or liquidate said Trust, except (ia) in connection with a distribution of said Debentures to the holders of said Trust’s 's Trust Preferred Securities in liquidation of said Trust or (iib) in connection with certain mergers, consolidations or amalgamations as permitted by said Trust’s 's trust agreement, and (ciii) to use its reasonable efforts, consistent with the terms and provisions of said trust agreement, to cause said Trust to remain classified as a grantor trust and not as an association taxable as a corporation for United States federal income tax purposes.

Ownership of Trust Common Securities. If and so long as a Trust is the Holder of all Debentures of a particular series, the Company shall (ai) maintain, directly or indirectly, 100% ownership of said Trust’s 's Trust Common Securities, ; provided that certain successors to the Company which are permitted as provided below may succeed to the Company’s 's ownership of said Trust Common Securities, (bii) not voluntarily dissolve, wind-wind- up or liquidate said Trust, except (ia) in connection with a distribution of said Debentures to the holders of said Trust’s 's Trust Preferred Securities in liquidation of said Trust or (iib) in connection with certain mergers, consolidations or amalgamations as permitted by said Trust’s 's trust agreement, and (ciii) use its reasonable efforts, consistent with the terms and provisions of said trust agreement, to cause said Trust to remain classified as a grantor trust and not as an association taxable as a corporation for United States federal income tax purposes.

Ownership of Trust Common Securities. If and so long as a Trust is the Holder of all Debentures of a particular series, the Company shall (ai) maintain, directly or indirectly, 100% ownership of said Trust’s 's Trust Common Securities, ; provided that certain successors to the Company which are permitted as provided below may succeed to the Company’s 's ownership of said Trust Common Securities, (bii) not voluntarily dissolve, wind-wind- up or liquidate said Trust, except (ia) in connection with a distribution of said Debentures to the holders of said Trust’s 's Trust Preferred Securities in liquidation of said Trust or (iib) in connection with certain mergers, consolidations or amalgamations as permitted by said Trust’s 's trust agreement, and (ciii) to use its reasonable efforts, consistent with the terms and provisions of said trust agreement, to cause said Trust to remain classified as a grantor trust and not as an association taxable as a corporation for United States federal income tax purposes.

Ownership of Trust Common Securities. If and so long as a Trust is the Holder of all Debentures of a particular series, the Company shall (ai) maintain, directly or indirectly, 100% ownership of said Trust’s 's Trust Common Securities, provided that certain successors to the Company which are permitted as provided below may succeed to the Company’s 's ownership of said Trust Common Securities, (bii) not voluntarily dissolve, wind-wind- up or liquidate said Trust, except (ia) in connection with a distribution of said Debentures to the holders of said Trust’s 's Trust Preferred Securities in liquidation of said Trust or (iib) in connection with certain mergers, consolidations or amalgamations as permitted by said Trust’s 's trust agreement, and (ciii) use its reasonable efforts, consistent with the terms and provisions of said trust agreement, to cause said Trust to remain classified as a grantor trust and not as an association taxable as a corporation for United States federal income tax purposes.