Common use of Rights Upon Liquidation Clause in Contracts

Rights Upon Liquidation. In the event of any voluntary or involuntary liquidation, dissolution, or winding up of, or any distribution of the assets of, the Trust, the Series E Preferred Excess Shares shall not be entitled to share in any portion of the assets of the Trust. At such time as (i) the Trust has received the necessary shareholder approval with respect to a voluntary liquidation of dissolution of the Trust, or (ii) the Trust has become the subject of an order of a court of competent jurisdiction compelling an involuntary liquidation or dissolution of the Trust, such Series E Preferred Excess Shares held in trust in the Series E Preferred Excess Share Trust shall without further act be extinguished and each Purported Beneficial Transferee whose acquisition of Series E Preferred Shares resulted in the Series E Preferred Excess Shares which has been extinguished pursuant to this Section 10(c) shall without further act become a creditor of the Trust. The amount by which each such Purported Beneficial Transferee shall become a creditor of the Trust with respect to its now-extinguished interest in the Trust (representing the number of Series E Preferred Excess Shares held by the Trust attributable to a purported Transfer that resulted in the Series E Preferred Excess Shares) will be equal to the lesser of (a) that amount of the distributable assets of the Trust to which such Series E Preferred Excess Shares would be entitled if such Series E Preferred Excess Shares were entitled to share ratably in the distributable assets of the Trust as Common Shares, or (b) as appropriate, either (1) the price per share paid by such Purported Beneficial Transferee for the Series E Preferred Shares which were exchanged for Series E Preferred Excess Shares, or (2) if the Purported Beneficial Transferee did not give value for such Series E Preferred Shares (having received such through a gift, device or otherwise), a price per share equal to the Market Price on the date of the purported Transfer that resulted in the Series E Preferred Excess Shares. Payment to the Purported Beneficial Transferee shall be without interest and shall be due concurrently with the date of first distribution of liquidation proceeds to the holders of Equity Shares. If the Trust causes such liquidation or dissolution to be revoked or otherwise rescinded any Series E Preferred Excess Shares previously automatically extinguished pursuant to this Section 10(c) shall be automatically revived and any Purported Beneficial Transferees shall without further act cease to be creditors of the Trust as otherwise provided above.

Rights Upon Liquidation. In the event of any voluntary or involuntary liquidation, dissolution, or winding up of, or any distribution of the assets of, the Trust, the Series E H Preferred Excess Shares shall not be entitled to share in any portion of the assets of the Trust. At such time as (i) the Trust has received the necessary shareholder approval with respect to a voluntary liquidation of dissolution of the Trust, or (ii) the Trust has become the subject of an order of a court of competent jurisdiction compelling an involuntary liquidation or dissolution of the Trust, such Series E H Preferred Excess Shares held in trust in the Series E H Preferred Excess Share Trust shall without further act be extinguished and each Purported Beneficial Transferee whose acquisition of Series E H Preferred Shares resulted in the Series E H Preferred Excess Shares which has been extinguished pursuant to this Section 10(c) shall without further act become a creditor of the Trust. The amount by which each such Purported Beneficial Transferee shall become a creditor of the Trust with respect to its now-extinguished interest in the Trust (representing the number of Series E H Preferred Excess Shares held by the Trust attributable to a purported Transfer that resulted in the Series E H Preferred Excess Shares) will be equal to the lesser of (a) that amount of the distributable assets of the Trust to which such Series E H Preferred Excess Shares would be entitled if such Series E H Preferred Excess Shares were entitled to share ratably in the distributable assets of the Trust as Common Shares, or (b) as appropriate, either (1) the price per share paid by such Purported Beneficial Transferee for the Series E H Preferred Shares which were exchanged for Series E H Preferred Excess Shares, or (2) if the Purported Beneficial Transferee did not give value for such Series E H Preferred Shares (having received such through a gift, device or otherwise), a price per share equal to the Market Price on the date of the purported Transfer that resulted in the Series E H Preferred Excess Shares. Payment to the Purported Beneficial Transferee shall be without interest and shall be due concurrently with the date of first distribution of liquidation proceeds to the holders of Equity Shares. If the Trust causes such liquidation or dissolution to be revoked or otherwise rescinded any Series E H Preferred Excess Shares previously automatically extinguished pursuant to this Section 10(c) shall be automatically revived and any Purported Beneficial Transferees shall without further act cease to be creditors of the Trust as otherwise provided above.

Rights Upon Liquidation. In the event of any voluntary or involuntary liquidation, dissolution, or winding up of, or any distribution of the assets of, the Trust, the Series E G Preferred Excess Shares shall not be entitled to share in any portion of the assets of the Trust. At such time as (i) the Trust has received the necessary shareholder approval with respect to a voluntary liquidation of dissolution of the Trust, or (ii) the Trust has become the subject of an order of a court of competent jurisdiction compelling an involuntary liquidation or dissolution of the Trust, such Series E G Preferred Excess Shares held in trust in the Series E G Preferred Excess Share Trust shall without further act be extinguished and each Purported Beneficial Transferee whose acquisition of Series E G Preferred Shares resulted in the Series E G Preferred Excess Shares which has been extinguished pursuant to this Section 10(c) shall without further act become a creditor of the Trust. The amount by which each such Purported Beneficial Transferee shall become a creditor of the Trust with respect to its now-extinguished interest in the Trust (representing the number of Series E G Preferred Excess Shares held by the Trust attributable to a purported Transfer that resulted in the Series E G Preferred Excess Shares) will be equal to the lesser of (a) that amount of the distributable assets of the Trust to which such Series E G Preferred Excess Shares would be entitled if such Series E G Preferred Excess Shares were entitled to share ratably in the distributable assets of the Trust as Common Shares, or (b) as appropriate, either (1) the price per share paid by such Purported Beneficial Transferee for the Series E G Preferred Shares which were exchanged for Series E G Preferred Excess Shares, or (2) if the Purported Beneficial Transferee did not give value for such Series E G Preferred Shares (having received such through a gift, device or otherwise), a price per share equal to the Market Price on the date of the purported Transfer that resulted in the Series E G Preferred Excess Shares. Payment to the Purported Beneficial Transferee shall be without interest and shall be due concurrently with the date of first distribution of liquidation proceeds to the holders of Equity Shares. If the Trust causes such liquidation or dissolution to be revoked or otherwise rescinded any Series E G Preferred Excess Shares previously automatically extinguished pursuant to this Section 10(c) shall be automatically revived and any Purported Beneficial Transferees shall without further act cease to be creditors of the Trust as otherwise provided above.

Rights Upon Liquidation. In the event of any voluntary or involuntary liquidation, dissolution, or winding up of, or any distribution of the assets of, the Trust, the Series E F Preferred Excess Shares shall not be entitled to share in any portion of the assets of the Trust. At such time as (i) the Trust has received the necessary shareholder approval with respect to a voluntary liquidation of dissolution of the Trust, or (ii) the Trust has become the subject of an order of a court of competent jurisdiction compelling an involuntary liquidation or dissolution of the Trust, such Series E F Preferred Excess Shares held in trust in the Series E F Preferred Excess Share Trust shall without further act be extinguished and each Purported Beneficial Transferee whose acquisition of Series E F Preferred Shares resulted in the Series E F Preferred Excess Shares which has been extinguished pursuant to this Section 10(c) shall without further act become a creditor of the Trust. The amount by which each such Purported Beneficial Transferee shall become a creditor of the Trust with respect to its now-extinguished interest in the Trust (representing the number of Series E F Preferred Excess Shares held by the Trust attributable to a purported Transfer that resulted in the Series E F Preferred Excess Shares) will be equal to the lesser of (a) that amount of the distributable assets of the Trust to which such Series E F Preferred Excess Shares would be entitled if such Series E F Preferred Excess Shares were entitled to share ratably in the distributable assets of the Trust as Common Shares, or (b) as appropriate, either (1) the price per share paid by such Purported Beneficial Transferee for the Series E F Preferred Shares which were exchanged for Series E F Preferred Excess Shares, or (2) if the Purported Beneficial Transferee did not give value for such Series E F Preferred Shares (having received such through a gift, device or otherwise), a price per share equal to the Market Price on the date of the purported Transfer that resulted in the Series E F Preferred Excess Shares. Payment to the Purported Beneficial Transferee shall be without interest and shall be due concurrently with the date of first distribution of liquidation proceeds to the holders of Equity Shares. If the Trust causes such liquidation or dissolution to be revoked or otherwise rescinded any Series E F Preferred Excess Shares previously automatically extinguished pursuant to this Section 10(c) shall be automatically revived and any Purported Beneficial Transferees shall without further act cease to be creditors of the Trust as otherwise provided above.