Summit Trust definition
Summit Trust means a Delaware business trust, or any other similar trust created for the purpose of issuing Capital Securities in connection with the issuance of Debt Securities under this Indenture, of which the Company is the sponsor.
Examples of Summit Trust in a sentence
In the event Debt Securities of a series are initially issued to a Summit Trust or the Institutional Trustee of such Summit Trust in connection with the issuance of Trust Securities by such Summit Trust, for so long as such Trust Securities remain outstanding, the Company shall maintain 100% ownership of the Common Securities of such Summit Trust; provided, however, that any permitted successor of the Company under this Indenture may succeed to the Company's ownership of such Common Securities.