Common use of SUBSCRIPTION AND PURCHASE OF DEBENTURES Clause in Contracts

SUBSCRIPTION AND PURCHASE OF DEBENTURES. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 502 and deliver to the Depositor, Common Securities Certificates, registered in the name of the Depositor in an aggregate amount of Common Securities having an aggregate Liquidation Amount of $____________ against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee on behalf of the Trust, shall subscribe to and purchase from the Depositor corresponding amounts of Debentures, registered in the name of the Property Trustee on behalf of the Trust and having an aggregate principal amount equal to $_____________ (being the sum of the amounts delivered to the Property Trustee pursuant to (i) the second sentence of Section 204; and (ii) the first sentence of Section 205(a)), and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Depositor the sum of $_____________.

Appears in 1 contract

Samples: Trust Agreement (Metropolitan Capital Trust Ii)

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SUBSCRIPTION AND PURCHASE OF DEBENTURES. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section SECTION 502 and deliver to the Depositor, Depositor Common Securities Certificates, registered in the name of the Depositor in an aggregate amount of __________ Common Securities having an aggregate Liquidation Amount of $____________ against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee on behalf of the Trust, shall subscribe to and purchase from the Depositor corresponding amounts of Debentures, registered in the name of the Property Trustee on behalf of the Trust and having an aggregate principal amount equal to $__________________ (being the sum of the amounts delivered to the Property Trustee pursuant to (i) the second sentence of Section SECTION 204; and (ii) the first sentence of Section 205(aSECTION 205(A)), and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Depositor the sum of $_________________.

Appears in 1 contract

Samples: Trust Agreement (Southside Capital Trust I)

SUBSCRIPTION AND PURCHASE OF DEBENTURES. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 502 and deliver to the Depositor, Common Securities Certificates, registered in the name of the Depositor in an aggregate amount of Common Securities having an aggregate Liquidation Amount of $____________ against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee on behalf of the Trust, shall subscribe to and purchase from the Depositor corresponding amounts of Debentures, registered in the name of the Property Trustee on behalf of the Trust and having an aggregate principal amount equal to $_____________ (being the sum of the amounts delivered to the Property Trustee pursuant to (i) the second sentence of Section 204; and (ii) the first sentence of Section 205(a)), and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Depositor the sum of $_____________---------.

Appears in 1 contract

Samples: Trust Agreement (Metropolitan Capital Trust I)

SUBSCRIPTION AND PURCHASE OF DEBENTURES. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 502 and deliver to the Depositor, Common Securities Certificates, registered in the name of the Depositor in an aggregate amount of Common Securities having an aggregate Liquidation Amount of $____________ 666,670 against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee on behalf of the Trust, shall subscribe to and purchase from the Depositor corresponding amounts of Debentures, registered in the name of the Property Trustee on behalf of the Trust and having an aggregate principal amount equal to $_____________ 16,666,670 (being the sum of the amounts delivered to the Property Trustee pursuant to (i) the second sentence of Section 204; and (ii) the first sentence of Section 205(a)205), and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Depositor the sum of $_____________16,666,670.

Appears in 1 contract

Samples: Trust Agreement (Metropolitan Financial Corp /Oh/)

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SUBSCRIPTION AND PURCHASE OF DEBENTURES. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 502 and deliver to the Depositor, Common Securities Certificates, registered in the name of the Depositor in an aggregate amount of _______________ Common Securities having an aggregate Liquidation Amount of $____________ against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee on behalf of the Trust, shall subscribe to and purchase from the Depositor corresponding amounts of Debentures, registered in the name of the Property Trustee on behalf of the Trust and having an aggregate principal amount equal to $_____________ (being the sum of the amounts delivered to the Property Trustee pursuant to (i) the second sentence of Section 204; and (ii) the first sentence of Section 205(a)), and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Depositor the sum of $_____________.

Appears in 1 contract

Samples: Trust Agreement (Apab Capital Trust I)

SUBSCRIPTION AND PURCHASE OF DEBENTURES. (a) Contemporaneously with the execution and delivery of this Trust Agreement, an Administrative Trustee, on behalf of the Trust, shall execute in accordance with Section 502 and deliver to the Depositor, Common Securities Certificates, registered in the name of the Depositor in an aggregate amount of Common Securities having an aggregate Liquidation Amount of $____________ against payment by the Depositor of such amount, which amount such Administrative Trustee shall promptly deliver to the Property Trustee. Contemporaneously therewith, an Administrative Trustee on behalf of the Trust, shall subscribe to and purchase from the Depositor corresponding amounts of Debentures, registered in the name of the Property Trustee on behalf of the Trust and having an aggregate principal amount equal to $_____________ (being the sum of the amounts delivered to the Property Trustee pursuant to (i) the second sentence of Section 204; and (ii) the first sentence of Section 205(a)), and, in satisfaction of the purchase price for such Debentures, the Property Trustee, on behalf of the Trust, shall deliver to the Depositor the sum of $_____________.

Appears in 1 contract

Samples: Trust Agreement (Crescent Capital Trust I)

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