Common use of Issuance of Units Clause in Contracts

Issuance of Units. By executing the Reference Trust Agreement and receipt for deposited Securities, the Trustee will thereby acknowledge receipt of the deposit of the Securities listed under the "Trust Portfolio" in the Prospectus and referred to in Section 2.01 hereof, and simultaneously with the receipt of said deposit, has recorded on its books, for each of the plans of distribution provided for in the Prospectus, the ownership by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units specified in the Prospectus and has delivered, or on the order of the Depositor will deliver, in exchange for such Securities, cash or a letter of credit, documentation evidencing the ownership of the number of Units specified or, if requested by the Depositor, the ownership by the Depository Trust Company ("DTC") of all such Units and will cause such Units to be credited at DTC to the account of the Depositor or, pursuant to the Depositor's direction and as hereafter provided, the account of the issuer of the Letter of Credit referred to in Section 2.01. The number of Units in a Trust may be increased through a split of the Units or decreased through a reverse split thereof, as directed by the Depositor, on any day on which the Depositor is the only Unitholder of such Trust, which revised number of Units shall be recorded by the Trustee on its books. The Trustee hereby agrees that on the date of any deposit of Additional Securities pursuant to Section 2.05 it shall acknowledge that the Additional Securities identified therein have been deposited with it by recording on its books the ownership, by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units to be issued in respect of such Additional Securities so deposited. Units shall be held solely in uncertificated form evidenced by appropriate notation in the registration books of the Trustee, and no Unit holder shall be entitled to the issuance of a Certificate evidencing the Units owned by such Unit holder. The only permitted registered holders of Units shall be through the DTC (or its nominee, Cede & Co.); consequently, individuals must hold their Units through an entity which is a participant in DTC.

Issuance of Units. By executing the Reference Trust Agreement and receipt for deposited Securities, the Trustee will thereby acknowledge receipt of the deposit of the Securities listed under the "“Trust Portfolio" ” in the Prospectus and referred to in Section 2.01 hereof, and simultaneously with the receipt of said deposit, has recorded on its books, for each of the plans of distribution provided for in the Prospectus, the ownership by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units specified in the Prospectus and has delivered, or on the order of the Depositor will deliver, in exchange for such Securities, cash or a letter of credit, documentation evidencing the ownership of the number of Units specified or, if requested by the Depositor, the ownership by the Depository Trust Company ("“DTC"”) of all such Units and will cause such Units to be credited at DTC to the account of the Depositor or, pursuant to the Depositor's ’s direction and as hereafter provided, the account of the issuer of the Letter of Credit referred to in Section 2.01. The number of Units in a Trust may be increased through a split of the Units or decreased through a reverse split thereof, as directed by the Depositor, on any day on which the Depositor is the only Unitholder of such Trust, which revised number of Units shall be recorded by the Trustee on its books. The Trustee hereby agrees that on the date of any deposit of Additional Securities pursuant to Section 2.05 it shall acknowledge that the Additional Securities identified therein have been deposited with it by recording on its books the ownership, by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units to be issued in respect of such Additional Securities so deposited. Units shall be held solely in uncertificated form evidenced by appropriate notation in the registration books of the Trustee, and no Unit holder shall be entitled to the issuance of a Certificate evidencing the Units owned by such Unit holder. The only permitted registered holders of Units shall be through the DTC (or its nominee, Cede & Co.); consequently, individuals must hold their Units through an entity which is a participant in DTC.

Issuance of Units. By executing (a) The GUC Trust shall issue Units to holders of Allowed General Unsecured Claims as provided in this Trust Agreement. As soon as reasonably practicable after the Reference holders of Initial Allowed General Unsecured Claims receive their initial distribution of New GM Securities pursuant to Section 5.2 of this Trust Agreement and receipt for deposited SecuritiesAgreement, the Trustee will thereby acknowledge receipt of the deposit of the Securities listed under the "Trust Portfolio" in the Prospectus and referred to in Section 2.01 hereof, and simultaneously with the receipt of said deposit, has recorded on its books, for each of the plans of distribution provided for in the Prospectus, the ownership by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units specified in the Prospectus and has delivered, or on the order of the Depositor will deliver, in exchange for such Securities, cash or a letter of credit, documentation evidencing the ownership of they shall also receive the number of Units specified or, if requested equal to the amount of such Initial Allowed General Unsecured Claims multiplied by the DepositorUnit Issuance Ratio, the ownership by the Depository Trust Company ("DTC") of all such Units and will cause such Units to be credited at DTC rounded up or down to the account of the Depositor or, pursuant nearest whole Unit (with one-half being closer to the Depositor's direction and as hereafter providednext higher number for these purposes). Following the Effective Date, holders of Resolved Allowed General Unsecured Claims shall receive, at the account time such holders receive their initial distribution of the issuer of the Letter of Credit referred to in Section 2.01. The number of Units in a Trust may be increased through a split of the Units or decreased through a reverse split thereof, as directed by the Depositor, on any day on which the Depositor is the only Unitholder of such Trust, which revised number of Units shall be recorded by the Trustee on its books. The Trustee hereby agrees that on the date of any deposit of Additional New GM Securities pursuant to Section 2.05 it shall acknowledge that the Additional Securities identified therein have been deposited with it by recording on its books the ownership5.3, by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate a number of Units equal to be issued in respect the amount of such Additional Securities so depositedResolved Allowed General Unsecured Claims multiplied by the Unit Issuance Ratio, rounded up or down to the nearest whole Unit (with one-half being closer to the next higher number for these purposes); provided that, if the Units are freely negotiable and transferable pursuant to Section 3.6 of this Trust Agreement, the rounding of such Units as described in this Section 3.4 shall be subject to the procedures of DTC and its participants. Units will represent the contingent right to receive, on a pro rata basis as provided in the Plan, the Confirmation Order and this Trust Agreement, GUC Trust Distributable Assets that are not required for satisfaction of Resolved Allowed General Unsecured Claims. The Units shall be held solely in uncertificated form evidenced by appropriate notation in issued subject to all the registration books terms and conditions of the TrusteePlan, the Confirmation Order and no Unit holder shall be entitled this Trust Agreement. References in this Trust Agreement to the issuance of a Certificate evidencing the Units owned by such Unit holder. The only permitted registered holders of Units shall be through to the DTC (record holders of such Units or its nomineeto the beneficial holders of the Units, Cede & Co.); consequently, individuals must hold their Units through an entity which is a participant in DTCas the context requires.

Issuance of Units. By executing Pursuant to the Reference LLC Operating Agreement, LLC Distributions to each Class B LLC Interest Holder that was also a Unitholder on both (i) the LLC Record Date, and (ii) the date of such LLC Distribution, shall be by the issuance of Units (or Fractional Units) in the Trust pursuant to Section 13 of this Trust Agreement and receipt for deposited Securities, the Trustee will thereby acknowledge receipt of the deposit of the Securities listed under the "Trust Portfolio" in the Prospectus and referred to in Section 2.01 hereof, and simultaneously with the receipt of said deposit, has recorded on its books, for each of the plans of distribution provided for in the Prospectus, the ownership by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units specified in the Prospectus and has delivered, or on the order of the Depositor will deliver, in exchange for their respective LLC Distribution, provided that such Securitiesissuance shall be directly by the Trust and not by or through registered brokers. To the extent permitted by applicable law and not prohibited by any other provision of this Trust Agreement, cash the Managing Owner shall issue such Units (or a letter Fractional Units) to such Class B LLC Interest Holders upon receipt by the Managing Owner from the LLC Manager of credit(i) the applicable LLC Distribution, documentation evidencing and (ii) the ownership names of the number Class B LLC Interest Holders that shall be purchasing Units (or Fractional Units) with their stated share of such LLC Distribution. Each Unitholder that at the applicable time is also a Class B LLC Interest Holders, without further action, consents to, and directs the Managing Owner to accept such Unitholder’s share of the LLC Distribution in consideration for, and hereby directs the Managing Owner to issue such Units specified or, if requested by the Depositor(or Fractional Units) to such Unitholder. If upon receipt of such LLC Distribution, the ownership by the Depository Trust Company Managing Owner determines either ("DTC"i) of all such Units and will cause such Units to be credited at DTC to the account of the Depositor or, pursuant to the Depositor's direction and as hereafter provided, the account of the issuer of the Letter of Credit referred to in Section 2.01. The number of Units in that any Class B LLC Interest Holder that was a Trust may be increased through a split of the Units or decreased through a reverse split thereof, as directed by the Depositor, on any day on which the Depositor is the only Unitholder of such Trust, which revised number of Units shall be recorded by the Trustee on its books. The Trustee hereby agrees that on the date of LLC Record Date and at any deposit of Additional Securities pursuant to Section 2.05 it shall acknowledge that time after the Additional Securities identified therein have been deposited with it by recording on its books the ownershipLLC Record Date ceased being a Unitholder, by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units to be issued in respect of such Additional Securities so deposited. Units shall be held solely in uncertificated form evidenced by appropriate notation in the registration books of the Trustee, and no Unit holder shall be entitled to (ii) the issuance of a Certificate evidencing Units (or Fractional Units) would not be in compliance with applicable law, the Units owned by Managing Owner shall promptly return to the LLC Manager the relevant portion of the LLC Distributions allocated to such Unit holderClass B LLC Interest Holder, all without any obligation or liability to the applicable Class B LLC Interest Holder. The only permitted registered holders purpose of this Section 26(h) is to provide each Unitholder that is also a Class B LLC Interest Holder, the same economic effect, with respect to its Special Circumstance Units, as if such Unitholder’s Special Circumstance Units shall be through were not split between a continuing Unit in the DTC (or its nominee, Cede & Co.); consequently, individuals must hold their Units through an entity which is Trust and a participant in DTCClass B LLC Unit.

Issuance of Units. By executing the Reference Trust Agreement and receipt for deposited Securities, the (a) The Trustee will thereby acknowledge hereby acknowledges receipt of the deposit of the Securities listed under in Schedule A to the "Trust Portfolio" in the Prospectus Agreement and referred to in Section 2.01 hereofhereof and, and simultaneously with the receipt of said deposit, has recorded on its booksbooks the ownership, for each of the plans of distribution provided for in the Prospectus, the ownership by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units specified in the Prospectus Trust Agreement and has delivered, to or on the order of the Depositor will deliver, in exchange for such Securities, cash or a letter of credit, therefor delivered documentation evidencing the ownership of the number of Units specified or, if requested by substantially in the Depositor, form above recited representing the ownership by the Depository Trust Company ("DTC") of all such Units and will cause such Units to be credited at DTC to the account of the Depositor or, pursuant to the Depositor's direction and as hereafter provided, the account of the issuer of the Letter of Credit referred to in Section 2.01those Units. The number of Units in a Trust may be increased through a split of the Units or decreased through a reverse split thereof, as directed in writing by the Depositor, on at any day on which time when the Depositor is the only Unitholder beneficial holder of such TrustUnits, which revised number of Units shall be recorded by the Trustee on its books. The Trustee shall be entitled to rely on the Depositor's direction as certification that no person other than the Depositor has a beneficial interest in the Units and the Trustee shall have no liability to any person for action taken pursuant to such direction. The Trustee hereby agrees that on the date of any deposit of Additional Securities pursuant to Section 2.05 Supplemental Trust Agreement, it shall acknowledge that the Additional additional Securities identified therein have been deposited with it by recording on its books the ownership, by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units to be issued in respect of such Additional additional Securities so deposited. Units shall be held solely in uncertificated form evidenced by appropriate notation , and shall, if so requested, execute documentation substantially in the registration books form above recited representing the ownership of the Trustee, and no Unit holder shall be entitled to the issuance an aggregate number of a Certificate evidencing the Units owned by such Unit holder. The only permitted registered holders of Units shall be through the DTC (or its nominee, Cede & Co.); consequently, individuals must hold their Units through an entity which is a participant in DTCthose Units.

Issuance of Units. By executing the Reference Trust Agreement and receipt for deposited Securities, the Trustee will thereby acknowledge receipt of the deposit of the Securities listed under the "Trust Portfolio" in the Prospectus and referred to in Section 2.01 hereof, and simultaneously with the receipt of said deposit, has recorded on its books, for each of the plans of distribution provided for in the Prospectus, the ownership by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units specified in the Prospectus and has delivered, or on the order of the Depositor will deliver, in exchange for such Securities, cash or a letter of credit, documentation evidencing the ownership of the number of Units specified or, if requested by the Depositor, the ownership by the Depository Trust Company ("DTC") DTC of all such Units and will cause such Units to be credited at DTC to the account of the Depositor or, pursuant to the Depositor's direction and as hereafter provided, the account of the issuer of the Letter of Credit referred to in Section 2.01. The number of Units in a Trust may be increased through a split of the Units or decreased through a reverse split thereof, as directed by the Depositor, on any day on which the Depositor is the only Unitholder of such Trust, which revised number of Units shall be recorded by the Trustee on its books. The Trustee hereby agrees that on the date of any deposit of Additional Securities pursuant to Section 2.05 it shall acknowledge that the Additional Securities identified therein have been deposited with it by recording on its books the ownership, by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units to be issued in respect of such Additional Securities so deposited. Units shall be held solely in uncertificated form evidenced by appropriate notation in the registration books of the Trustee, and no Unit holder shall be entitled to the issuance of a Certificate evidencing the Units owned by such Unit holder. The only permitted registered holders of Units shall be through the DTC (or its nominee, Cede & Co.); consequently, individuals must hold their Units through an entity which is a participant in DTC.

Issuance of Units. By executing The Units are duly authorized, and when issued and paid for in accordance with the Reference Trust Agreement terms hereof, shall be validly issued, fully paid and receipt for deposited Securitiesnonassessable, free and clear of all liens, encumbrances, and rights of first refusal of any kind (collectively, "Liens"). The Units upon issuance will not subject the holders thereof to personal liability by reason of being such holders. The Company has and, at the Initial Closing Date and the each Subsequent Closing Date (each, a "Closing Date"), as the case may be, will have and at all times while the Shares and the Warrants are outstanding will maintain an adequate reserve of duly authorized shares of Common Stock to enable it to perform its obligations under this Agreement, the Trustee will thereby acknowledge receipt Warrants and the Certificate of the deposit of the Securities listed under the "Trust Portfolio" in the Prospectus and referred Designation with respect to in Section 2.01 hereof, and simultaneously with the receipt of said deposit, has recorded on its books, for each of the plans of distribution provided for in the Prospectus, the ownership by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units specified in the Prospectus and has delivered, or on the order of the Depositor will deliver, in exchange for such Securities, cash or a letter of credit, documentation evidencing the ownership of the number of Units specified or, if requested by the Depositor, the ownership by the Depository Trust Company ("DTC") Shares and Warrants issued and outstanding at such Closing Date and in no circumstances shall such reserved and available shares of all such Units and will cause such Units to Common Stock be credited at DTC to the account less than 175% of the Depositor or, maximum number of shares of Common Stock which would be issuable upon conversion of the Shares and upon exercise of the Warrants issued pursuant to the Depositor's direction terms hereof with respect to the number of Shares and Warrants issued and outstanding at such Closing Date were such conversion or exercise, as hereafter providedthe case may be, effected on the Initial Closing Date. The shares of Common Stock issuable upon conversion of the Shares are referred to herein as the "Underlying Shares." When issued in accordance with the Certificate of Designation, the account Underlying Shares will be duly authorized, validly issued, fully paid and nonassessable, free and clear of all Liens. The shares of Common Stock issuable upon exercise of the issuer of the Letter of Credit Warrants are referred to herein as the "Warrant Shares." When issued and paid for in Section 2.01accordance with the Warrant, the Warrant Shares will be duly authorized, validly issued, fully paid and nonassessable, free and clear of all Liens. The number of Units in a Trust may be increased through a split of Shares, the Units or decreased through a reverse split thereofWarrants, the Underlying Shares and the Warrant Shares are referred to herein as directed by the Depositor, on any day on which the Depositor is the only Unitholder of such Trust, which revised number of Units shall be recorded by the Trustee on its books. The Trustee hereby agrees that on the date of any deposit of Additional Securities pursuant to Section 2.05 it shall acknowledge that the Additional Securities identified therein have been deposited with it by recording on its books the ownership, by the Depositor or such other person or persons as may be indicated by the Depositor, of the aggregate number of Units to be issued in respect of such Additional Securities so deposited. Units shall be held solely in uncertificated form evidenced by appropriate notation in the registration books of the Trustee, and no Unit holder shall be entitled to the issuance of a Certificate evidencing the Units owned by such Unit holder. The only permitted registered holders of Units shall be through the DTC (or its nominee, Cede & Co.); consequently, individuals must hold their Units through an entity which is a participant in DTC"Securities."