Common use of Revocation of Obligation to Exchange Capital Securities for Debt Securities Clause in Contracts

Revocation of Obligation to Exchange Capital Securities for Debt Securities. The Company's obligations to exchange Capital Securities for Debt Securities of any series as provided in Section 1402 is absolute and unconditional; provided, however, that such obligation may be revoked at the option of the Company at any time on not less than 60 days' prior notice given in the manner provided in Section 106 to the Holders of Debt Securities of such series, the Trustee and the Capital Exchange Agent, if the Company shall determine that under regulations then in effect of the Company's Primary Federal Regulator either the Debt Securities are no longer includable as capital or it is no longer necessary for the Company to be obligated to exchange Capital Securities for Debt Securities in order for the Debt Securities to maintain the same capital treatment as they are then receiving under the regulations or if approval of the Primary Federal Regulator is obtained for such revocation. In the event such obligation is revoked

Appears in 7 contracts

Samples: Indenture (Wells Fargo & Co/Mn), Indenture (Indymac Capital Trust I), Indenture (Wells Fargo Capital Iv)

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Revocation of Obligation to Exchange Capital Securities for Debt Securities. The Company's obligations obligation to exchange Capital Securities for Debt Securities of any series as provided in Section 1402 is absolute and unconditional; provided, however, that such obligation may be revoked at the option of the Company at any time on not less than 60 days' prior notice given in the manner provided in Section 106 to the Holders of Debt Securities of such series, the Trustee and the Capital Exchange Agent, if the Company shall determine that under then regulations then in effect of the Company's Primary Federal Regulator either the Debt Securities are no longer includable as capital or it is no longer necessary for the Company to be obligated to exchange Capital Securities for Debt Securities in order for the Debt Securities to maintain the same capital treatment as they are then receiving under the such regulations or if approval of the Primary Federal Regulator is obtained for such revocation. In the event such obligation is revoked

Appears in 2 contracts

Samples: Indenture (Sovereign Capital Trust Iv), Indenture (Bankamerica Corp/De/)

Revocation of Obligation to Exchange Capital Securities for Debt Securities. The Company's obligations to exchange Capital Securities for Debt Securities of any series as provided in Section 1402 is absolute and unconditional; provided, however, that such obligation may be revoked at the option of the Company at any time on not less than 60 days' prior notice given in the manner provided in Section 106 to the Holders of Debt Securities of such series, the Trustee and the Capital Exchange Agent, if the Company shall determine that under then regulations then in effect of the Company's Primary Federal Regulator either the Debt Securities are no longer includable as capital or it is no longer necessary for the Company to be obligated to exchange Capital Securities for Debt Securities in order for the Debt Securities to maintain the same capital treatment as they are then receiving under the regulations or if approval of the Primary Federal Regulator is obtained for such revocation. In the event such obligation is revoked

Appears in 1 contract

Samples: Star Banc Corp /Oh/

Revocation of Obligation to Exchange Capital Securities for Debt Securities. The Company's obligations to exchange Capital Securities for Debt Securities of any series as provided in Section 1402 1502 is absolute and unconditional; provided, however, that such obligation may be revoked at the option of the Company at any time on not less than 60 days' prior notice given in the manner provided in Section 106 to the Holders of Debt Securities of such series, the Trustee and the Capital Exchange Agent, if the Company shall determine that under regulations then in effect of the Company's Primary Federal Regulator either the Debt Securities are no longer includable as capital or it is no longer necessary for the Company to be obligated to exchange Capital Securities for Debt Securities in order for the Debt Securities to maintain the same capital treatment as they are then receiving under the regulations or if approval of the Primary Federal Regulator is obtained for such revocation. In the event such obligation is revoked

Appears in 1 contract

Samples: Indenture (South Financial Group Inc)

Revocation of Obligation to Exchange Capital Securities for Debt Securities. The Company's ’s obligations to exchange Capital Securities for Debt Securities of any series as provided in Section 1402 1502 is absolute and unconditional; provided, however, that such obligation may be revoked at the option of the Company at any time on not less than 60 days' prior notice given in the manner provided in Section 106 to the Holders of Debt Securities of such series, the Trustee and the Capital Exchange Agent, if the Company shall determine that under regulations then in effect of the Company's ’s Primary Federal Regulator either the Debt Securities are no longer includable as capital or it is no longer necessary for the Company to be obligated to exchange Capital Securities for Debt Securities in order for the Debt Securities to maintain the same capital treatment as they are then receiving under the regulations or if approval of the Primary Federal Regulator is obtained for such revocation. In the event such obligation is revoked

Appears in 1 contract

Samples: Indenture (M&i Capital Trust C)

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Revocation of Obligation to Exchange Capital Securities for Debt Securities. The Company's obligations obligation to exchange Capital Securities for Debt Securities of any series as provided in Section 1402 is absolute and unconditional; provided, however, however that such obligation may be revoked at the option of the Company at any time on not less than 60 days' prior notice given in the manner provided in Section 106 to the Holders of Debt Securities of such series, the Trustee and the Capital Exchange Agent, if the Company shall determine that under then regulations then in effect of the Company's Primary Federal Regulator either the Debt Securities are no longer includable as capital or it is no longer necessary for the Company to be obligated to exchange Capital Securities for Debt Securities in order for the Debt Securities to maintain the same capital treatment as they are then receiving under the such regulations or if approval of the Primary Federal Regulator is obtained for such revocation. In the event such obligation is revoked

Appears in 1 contract

Samples: Indenture (Bankamerica Corp/De/)

Revocation of Obligation to Exchange Capital Securities for Debt Securities. The Company's obligations obligation to exchange Capital Securities for Debt Securities of any series as provided in Section 1402 14.2 is absolute and unconditional; provided, however, that such obligation may be revoked at the option of the Company at any time on not less than 60 days' prior notice given in the manner provided in Section 106 1.6 to the Holders of Debt Securities of such series, the Trustee and the Capital Exchange Agent, if the Company shall determine that under then regulations then in effect of the Company's Primary Federal Regulator either the Debt Securities are no longer includable as capital or it is no longer necessary for the Company to be obligated to exchange Capital Securities for Debt Securities in order for the Debt Securities to maintain the same capital treatment as they are then receiving under the such regulations or if approval of the Primary primary Federal Regulator is obtained for such revocation. In the event such obligation is revoked

Appears in 1 contract

Samples: Indenture (Sovereign Capital Trust V)

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