Initial Ownership. Upon the formation of the Issuer Trust and the contribution by the Depositor pursuant to Section 2.3 and until the issuance of the Trust Securities, and at any time during which no Trust Securities are outstanding, the Depositor shall be the sole beneficial owner of the Issuer Trust.
Appears in 92 contracts
Samples: Declaration of Trust (First Merchants Corp), Trust Agreement (Us Bancorp \De\), Declaration of Trust and Trust Agreement (Superior Bancorp)
Initial Ownership. Upon the formation creation of the Issuer Trust and the contribution by the Depositor pursuant to Section 2.3 and until the issuance of the Trust Securities, and at any time during which no Trust Securities are outstandingOutstanding, the Depositor shall be the sole beneficial owner of the Issuer Trust.
Appears in 58 contracts
Samples: Trust Agreement, Agreement (Morgan Stanley), Trust Agreement (S&t Bancorp Inc)
Initial Ownership. Upon the formation creation of the Issuer Trust and the contribution by the Depositor pursuant to Section 2.3 and until the issuance of the Trust Securities, and at any time during which no Trust Securities are outstanding, the Depositor shall be the sole beneficial owner of the Issuer Trust.
Appears in 35 contracts
Samples: Trust Agreement (Goldman Sachs Capital III), Trust Agreement (Citizens Funding Trust II), Trust Agreement (KeyCorp Capital VIII)
Initial Ownership. Upon the formation of the Issuer Trust and the contribution by the Depositor pursuant referred to in Section 2.3 and until the issuance of the Trust Securities, and at any time during which no Trust Securities are outstandingOutstanding, the Depositor shall be the sole beneficial owner of the Issuer Trust.
Appears in 17 contracts
Samples: Trust Agreement (Everest Reinsurance Holdings Inc), Trust Agreement (Everest Re Group LTD), Trust Indenture Trust Agreement (Sterling Bancorp Trust I)
Initial Ownership. Upon the formation of the Issuer Trust and the contribution by the Depositor pursuant to Section 2.3 and until Until the issuance of the Trust Securities, and at any time during which no Trust Securities are outstanding, the Depositor shall be the sole beneficial owner of the Issuer Trust.
Appears in 8 contracts
Samples: Trust Agreement (Sun Capital Trust Ii), Trust Agreement (American Bancshares Inc \Fl\), Trust Agreement (Provident Trust Ii)
Initial Ownership. Upon the formation of the Issuer Trust and the contribution by the Depositor pursuant to Section 2.3 and until Until the issuance of the ----------------- Trust Securities, and at any time during which no Trust Securities are outstanding, the Depositor shall be the sole beneficial owner of the Issuer Trust.
Appears in 3 contracts
Samples: Trust Agreement (Allegiant Capital Trust Ii), Trust Agreement (Allegiant Capital Trust I), Trust Agreement (Allegiant Bancorp Inc)
Initial Ownership. Upon the formation of the Issuer Trust and the contribution by the Depositor pursuant to Section 2.3 and until the issuance of the Trust Securities, and at any time during which no Trust Securities are outstandingOutstanding, the Depositor shall be the sole beneficial owner of the Issuer Trust.
Appears in 3 contracts
Samples: Trust Agreement (Colonial Bancgroup Inc), Trust Agreement (Colonial Bancgroup Inc), Trust Agreement (Colonial Capital Ii)
Initial Ownership. Upon the formation of the Issuer Trust and the contribution by the Depositor pursuant to Section 2.3 and until the issuance of the Trust Securities, and at any time during which no Trust Securities are outstanding, the Depositor shall be the sole beneficial owner of the Issuer Trust.
Appears in 2 contracts
Samples: Trust Agreement (Broad National Bancorporation), Trust Agreement (BNB Capital Trust)
Initial Ownership. Upon the formation of the Issuer Trust and the contribution by the Depositor pursuant to Section 2.3 and until Until the issuance of the Trust Securities, and at any time during which no Trust Securities are outstandingOutstanding, the Depositor shall be the sole beneficial owner of the Issuer Trust.
Appears in 1 contract
Initial Ownership. Upon the formation of the Issuer Trust and the contribution by the Depositor pursuant to Section 2.3 and until the issuance of the Trust Securities, and at any time during which no Trust Securities are outstanding, the Depositor shall be the sole beneficial owner of the Issuer Trust.
Appears in 1 contract
Initial Ownership. Upon the formation of the Issuer Trust and the contribution by the Depositor pursuant to Section 2.3 and until the issuance of the Trust Securities, and at any time during which no Trust Securities are outstanding, the Depositor shall be the sole beneficial owner of the Issuer Trust. The Depositor agrees to take the position, for United States federal and state income tax purposes, that (i) the Issuer Trust is a grantor trust and not a partnership or an association taxable as a corporation, and (ii) the Debentures constitute indebtedness of the Depositor.
Appears in 1 contract
Samples: Trust Agreement (State Street Corp)
Initial Ownership. Upon the formation creation of the Issuer Trust and the contribution by the Depositor pursuant to Section 2.3 and until the issuance of the Trust Securities, and at any time during which no Trust Securities are outstanding, the Depositor shall be the sole beneficial owner of the Issuer Trust.. 233
Appears in 1 contract
Samples: Trust Agreement (Sce&g Trust I)
Initial Ownership. Upon the formation of the Issuer Trust and the contribution by the Depositor pursuant to Section 2.3 Section_2.3 and until the issuance of the Trust Securities, and at any time during which no Trust Securities are outstanding, the Depositor shall be the sole beneficial owner of the Issuer Trust.
Appears in 1 contract
Initial Ownership. Upon the formation creation of the Issuer Trust and by the contribution by the Depositor pursuant to Section 2.3 and until the issuance of the Trust Securities, and at any time during which no Trust Securities are outstanding, the Depositor shall be the sole beneficial owner of the Issuer Trust.
Appears in 1 contract
Samples: Trust Agreement (American Safety Insurance Group LTD)
Initial Ownership. Upon the formation creation of the Issuer Trust and the contribution by the Depositor pursuant referred to in Section 2.3 and until the issuance of the Trust Securities, and at any time during which no Trust Securities are outstandingOutstanding, the Depositor shall be the sole beneficial owner of the Issuer Trust.
Appears in 1 contract
