Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee as expeditiously as the Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Act, to each Holder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 nor more than 45 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All notices of liquidation shall:
Appears in 14 contracts
Samples: Trust Agreement (Florida Community Banks Inc), Trust Agreement (MBNK Capital Trust I), Trust Agreement (Fidbank Capital Trust I)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee as expeditiously as the Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Statutory Trust Act, to each Holder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 nor more than 45 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's ’s address appearing in the Securities Register. All notices of liquidation shall:
Appears in 11 contracts
Samples: Trust Agreement (Crescent Banking Co), Trust Agreement (First Citizens Bancorporation Inc), Trust Agreement (CCF Holding Co)
Liquidation. (a) If an Early Termination Dissolution Event specified in clause (a), (b), (d) or (de) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee Trustees as expeditiously as the Property Trustee determines Trustees determine to be possible by distributing, after paying or making reasonable provision satisfaction of liabilities to pay all claims and obligations creditors of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Actas provided by applicable law, to each Holder a Like Securityholder an aggregate principal amount of Debentures equal to the aggregate Liquidation Amount of Junior Subordinated DebenturesTrust Securities held by such Holder, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 30 nor more than 45 60 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing as it appears in the Securities Register. All notices of liquidation shall:
Appears in 7 contracts
Samples: Agreement and Plan of Merger (Capital Senior Living Corp), Trust Agreement (Ilm Senior Living Inc /Va), Trust Agreement (Newell Financial Trust I)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-wound up and liquidated by the Property Trustee as expeditiously as the Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Act, to each Holder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 nor more than 45 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All notices of liquidation shall:
Appears in 6 contracts
Samples: And (Equitable Resources Inc /Pa/), Trust Agreement (MSDW Capital Trust V), Trust Agreement (First Empire Capital Trust I)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) ), or (d) of Section 9.2 902 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee Trustees as expeditiously as the Property Trustee determines Trustees determine to be possible by distributing, after paying or making reasonable provision satisfaction of liabilities to pay all claims and obligations creditors of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Actas provided by applicable law, to each Holder Securityholder or if the Preferred Securities are held in book-entry form, to each Owner through the Clearing Agency or its nominee, a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d904(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 30 nor more than 45 60 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All notices of liquidation shall:
Appears in 6 contracts
Samples: Trust Agreement (Public Service Co of Oklahoma), Trust Agreement (Southwestern Electric Power Co), Trust Agreement (Public Service Co of Oklahoma)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee Issuer Trustees as expeditiously as the Property Trustee determines Issuer Trustees determine to be possible by distributing, after paying or making reasonable provision satisfaction of liabilities to pay all claims and obligations creditors of the Issuer Trust in accordance with as provided by Section 3808(e) of the Delaware Business Trust ActAct and any other applicable law, to each Holder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, prepaid mailed not later less than 15 30 nor more than 45 60 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All such notices of liquidation shall:
Appears in 6 contracts
Samples: Trust Agreement (DPL Inc), Trust Agreement (Centura Banks Inc), Trust Agreement (Southern States Capital Trust Ii)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-wound up and liquidated by the Property Trustee as expeditiously as the Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Statutory Trust Act, to each Holder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 nor more than 45 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's ’s address appearing in the Securities Register. All notices of liquidation shall:
Appears in 5 contracts
Samples: Trust Agreement, Trust Agreement (Morgan Stanley), Trust Agreement (Morgan Stanley)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-wound up and liquidated by the Property Trustee as expeditiously as the Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Statutory Trust Act, to each Holder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 nor more than 45 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All notices of liquidation shall:
Appears in 3 contracts
Samples: Trust Agreement (Morgan Stanley Capital Trust VIII), Agreement (Pxre Capital Trust Iv), Trust Agreement (Morgan Stanley)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee as expeditiously as the Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Statutory Trust Act, to each Holder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 nor more than 45 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All notices of liquidation shall:
Appears in 3 contracts
Samples: Trust Agreement (Community Financial Holding Co Inc), Trust Agreement (Southern Community Bancshares Inc /Ga), Trust Agreement (Assuranceamerica Corp)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-wound up and liquidated by the Property Trustee as expeditiously as the Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Act, to each Holder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-first- class mail, postage prepaid, mailed not later than 15 nor more than 45 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All notices of liquidation shall:
Appears in 3 contracts
Samples: Trust Agreement (Equitable Resources Capital Trust I), Trust Agreement (Equitable Resources Capital Trust I), Agreement (Morgan Stanley Dean Witter & Co)
Liquidation. (a) If an Early Termination Dissolution Event specified in clause (a), (b), (d) or (de) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee Trustees as expeditiously as the Property Trustee determines Trustees determine to be possible by distributing, after paying or making reasonable provision satisfaction of liabilities to pay all claims and obligations creditors of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Actas provided by applicable law, to each Security Holder a Like an aggregate principal amount of Debentures equal to the aggregate Liquidation Amount of Junior Subordinated DebenturesTrust Securities held by such Holder, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 30 nor more than 45 60 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing as it appears in the Securities Register. All notices of liquidation shall:
Appears in 3 contracts
Samples: Trust Agreement (Merry Land Properties Inc), Trust Agreement (Merry Land Capital Trust), Trust Agreement (Dayton Superior Capital Trust)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) ), or (d) of Section 9.2 902 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee Trustees as expeditiously as the Property Trustee determines Trustees determine to be possible by distributing, after satisfaction of liabilities to creditors of the Trust as provided by applicable law, (including, without limitation, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Act), to each Holder Securityholder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d904(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 30 nor more than 45 60 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All notices of liquidation shall:
Appears in 3 contracts
Samples: Trust Agreement (Century Bancorp Capital Trust), Trust Agreement (Century Bancorp Capital Trust), Trust Agreement (Abington Bancorp Capital Trust)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-dissolved and wound up and the Trust Property shall be liquidated by the Property Trustee Trustees as expeditiously as the Property Trustee determines Trustees determine to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Act, to each Holder Securityholder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, prepaid mailed not later than 15 30 nor more than 45 60 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All notices of liquidation shall:
Appears in 2 contracts
Samples: Trust Agreement (Owens Corning Capital Ii), Agreement (Owens Corning Capital Ii)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) ), or (d) of Section 9.2 9.02 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee Trustees as expeditiously as the Property Trustee determines Trustees determine to be possible by distributing, after paying or making reasonable provision satisfaction of liabilities to pay all claims and obligations creditors of the Issuer Trust in accordance with as provided by Section 3808(e) of the Delaware Business Trust ActAct and any other applicable law, to each Holder Securityholder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d9.04(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 30 nor more than 45 60 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All notices of liquidation shall:
Appears in 2 contracts
Samples: Trust Agreement (Blue Valley Ban Corp), Trust Agreement (BVBC Capital Trust I)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 902 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee as expeditiously as the Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Act, to each Holder a Like Amount of Junior Subordinated Debentures[Subordinated] Debt Securities, subject to Section 9.4(d904(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 nor more than 45 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All notices of liquidation shall:
Appears in 2 contracts
Samples: Trust Agreement (Union Electric Capital Trust I), Trust Agreement (Union Electric Co)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b), (e) or (df) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Administrative Trustees and the Property Trustee as expeditiously as the Property Trustee determines Trustees determine to be possible by distributing, after paying or making reasonable provision satisfaction of liabilities to pay all claims and obligations creditors of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Actas provided by applicable law, to each Holder a Like Securityholder an aggregate principal amount of Debentures equal to the aggregate Liquidation Amount of Junior Subordinated DebenturesTrust Securities held by such Holder, subject to Section 9.4(d9.4(e). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 30 nor more than 45 60 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing as it appears in the Securities Register. All notices of liquidation shall:
Appears in 1 contract
Samples: Boise Cascade Trust Iii
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (dDebentures) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee as expeditiously as the Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Act, to each Holder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 nor more than 45 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All notices of liquidation shall:
Appears in 1 contract
Samples: Trust Agreement (Provident Trust I)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 902 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee as expeditiously as the Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Act, to each Holder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d904(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 nor more than 45 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All notices of liquidation shall:
Appears in 1 contract
Samples: Trust Agreement (Cp&l Energy Inc)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee as expeditiously as the Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Act, to each Holder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-first- class mail, postage prepaid, mailed not later than 15 nor more than 45 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All notices of liquidation shall:
Appears in 1 contract
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee as expeditiously as the Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) 34-503 of the Delaware Business Statutory Trust Act, to each Holder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 nor more than 45 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's ’s address appearing in the Securities Register. All notices of liquidation shall:
Appears in 1 contract
Samples: Trust Agreement (Gainsco Inc)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee as expeditiously as the Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Statutory Trust Act, to each Holder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later less than 15 nor more than 45 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's ’s address appearing as it appears in the Securities Register. All notices of liquidation shall:
Appears in 1 contract
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-wound- up and liquidated by the Property Trustee as expeditiously as the Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Act, to each Holder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-first- class mail, postage prepaid, mailed not later than 15 nor more than 45 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All notices of liquidation shall:
Appears in 1 contract
Samples: Trust Agreement (First Citizens Bancshares Inc /De/)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-wound up and liquidated by the Property Trustee as expeditiously as the Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Act, to each Holder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 nor more than 45 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All notices of liquidation shall:
Appears in 1 contract
Samples: Trust Agreement (Dillards Inc)
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) ), or (d) of Section 9.2 902 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee Trustees as expeditiously as the Property Trustee determines Trustees determine to be possible by distributing, after satisfaction of liabilities to creditors of the Trust as provided by applicable law (including, without limitation, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e3803(e) of the Delaware Business Trust Act), to each Holder Securityholder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d904(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 30 nor more than 45 60 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All notices of liquidation shall:
Appears in 1 contract
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-wound up and liquidated by the Property Trustee as expeditiously as the Property Trustee determines to be possible by distributing, after paying or making reasonable provision to pay all claims and obligations of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Statutory Trust Act, to each Holder a Like Amount of Junior Subordinated Debentures, subject to Section 9.4(d)) . Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 nor more than 45 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's ’s address appearing in the Securities Register. All notices of liquidation shall:
Appears in 1 contract
Samples: Trust Agreement (Morgan Stanley)
Liquidation. (a) If an Early Termination Event specified in clause (a), [(b),] (e) or (df) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Administrative Trustees and the Property Trustee as expeditiously as the Property Trustee determines Trustees determine to be possible by distributing, after paying or making reasonable provision satisfaction of liabilities to pay all claims and obligations creditors of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Actas provided by applicable law, to each Holder a Like Securityholder an aggregate principal amount of Debentures equal to the aggregate Liquidation Amount of Junior Subordinated DebenturesTrust Securities held by such Holder, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 30 nor more than 45 60 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing as it appears in the Securities Register. All notices of liquidation shall:
Appears in 1 contract
Samples: Boise Cascade Corp
Liquidation. (a) If an Early Termination Event specified in clause (a), (b) or (d) of Section 9.2 9.02 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee Trustees as expeditiously as the Property Trustee determines Trustees determine to be possible by distributing, after paying or making reasonable provision satisfaction of liabilities to pay all claims and obligations creditors of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Actas provided by applicable law, to each Holder Securityholder a Like Amount of Junior Subordinated Debentures, subject to approval by the Federal Reserve, if then required under the applicable capital guidelines or policies of the Federal Reserve, and subject to Section 9.4(d9.04(d). Notice of liquidation shall be given by the Property Trustee by 48 53 first-class mail, postage prepaid, mailed not later than 15 30 nor more than 45 60 days prior to the Liquidation Date to each Holder of Trust Securities at such Holder's address appearing in the Securities Register. All notices of liquidation shall:
Appears in 1 contract
Samples: Trust Agreement (Vib Corp)
Liquidation. (a) If an Early Termination Dissolution Event specified in clause (a), (b), (d) or (de) of Section 9.2 occurs or upon the Expiration Date, the Issuer Trust shall be wound-up and liquidated by the Property Trustee Trustees as expeditiously as the Property Trustee determines Trustees determine to be possible by distributing, after paying or making reasonable provision satisfaction of liabilities to pay all claims and obligations creditors of the Issuer Trust in accordance with Section 3808(e) of the Delaware Business Trust Actas provided by applicable law, to each Holder a Like Securityholder an aggregate principal amount of Debentures equal to the aggregate Liquidation Amount of Junior Subordinated DebenturesTrust Securities held by such Holder, subject to Section 9.4(d). Notice of liquidation shall be given by the Property Trustee by first-class mail, postage prepaid, mailed not later than 15 30 nor more than 45 60 days prior to the Liquidation Date to each Holder of Trust Securities at such HolderXxxxxx's address appearing as it appears in the Securities Register. All notices of liquidation shall:
Appears in 1 contract
