Common use of AUTHORIZATION AND ISSUANCE OF SHARES Clause in Contracts

AUTHORIZATION AND ISSUANCE OF SHARES. 1. The Customer shall deliver to the Bank the following documents on or before the effective date of any increase, decrease or other change in the total number of Shares authorized to be issued: (a) A certified copy of the resolutions of the Board of Trustees of the Customer giving effect to such increase, decrease or change; (b) An executed copy of the opinion of counsel for the Customer, delivered to Customer’s underwriter with respect to the offering of Shares, it being agreed that the opinion need not be addressed to the Bank nor subject to any reliance letter addressed to the Bank; and (c) In the case of an increase, if the appointment of the Bank was theretofore expressly limited, a certified copy of a resolution of the Board of Trustees of the Customer increasing the authority of the Bank. 2. Prior to the issuance of any additional Shares pursuant to dividends, stock splits or otherwise, and prior to any reduction in the number of Shares outstanding, the Customer shall deliver the following documents to the Bank: (a) A certified copy of the resolutions adopted by the Board of Trustees and/or the shareholders of the Customer authorizing such issuance of additional Shares of the Customer or such reduction, as the case may be; and (b) A certified copy of the order or consent of each governmental or regulatory authority required by law as a prerequisite to the issuance or reduction of such Shares, as the case may be.

AUTHORIZATION AND ISSUANCE OF SHARES. 1. The Customer shall deliver to the Bank the following documents on or before the effective date of any increase, decrease or other change in the total number of Shares authorized to be issued: (a) A certified copy of the resolutions of the Board of Trustees of the Customer giving effect to such increase, decrease or change; (b) An executed copy of the opinion of counsel for the Customer, delivered to Customer’s underwriter with respect to the offering of Shares, it being agreed that the opinion need not be addressed to the Bank nor subject to any reliance letter addressed to the Bank; , and (c) In the case of an increase, if the appointment of the Bank was theretofore expressly limited, a certified copy of a resolution of the Board of Trustees of the Customer increasing the authority of the Bank. 2. Prior to the issuance of any additional Shares pursuant to stock dividends, stock splits or otherwise, and prior to any reduction in the number of Shares outstanding, the Customer shall deliver the following documents to the Bank: (a) A certified copy of the resolutions adopted by the Board of Trustees and/or the shareholders of the Customer authorizing such issuance of additional Shares of the Customer or such reduction, as the case may be; and (b) A certified copy of the order or consent of each governmental or regulatory authority required by law as a prerequisite to the issuance or reduction of such Shares, as the case may be.

AUTHORIZATION AND ISSUANCE OF SHARES. 1. The Customer shall deliver to the Bank the following documents on or before the effective date of any increase, decrease or other change in the total number of Shares authorized to be issued: (a) A certified copy of the resolutions of the Board of Trustees of the Customer giving effect to such increase, decrease or change; (b) An executed copy of the opinion of counsel for the Customer, delivered to Customer’s 's underwriter with respect to the offering of Shares, it being agreed that the opinion need not be addressed to the Bank nor subject to any reliance letter addressed to the Bank; and (c) In the case of an increase, if the appointment of the Bank was theretofore expressly limited, a certified copy of a resolution of the Board of Trustees of the Customer increasing the authority of the Bank. 2. Prior to the issuance of any additional Shares pursuant to dividends, stock splits or otherwise, and prior to any reduction in the number of Shares outstanding, the Customer shall deliver the following documents to the Bank: (a) A certified copy of the resolutions adopted by the Board of Trustees and/or the shareholders of the Customer authorizing such issuance of additional Shares of the Customer or such reduction, as the case may be; and (b) A certified copy of the order or consent of each governmental or regulatory authority required by law as a prerequisite to the issuance or reduction of such Shares, as the case may be.

AUTHORIZATION AND ISSUANCE OF SHARES. 1. The Customer shall deliver to the Bank the following documents on or before the effective date of any increase, decrease or other change in the total number of Shares authorized to be issued: (a) A certified copy of the resolutions of amendment to the Board of Trustees of the Customer Charter giving effect to such increase, decrease or change; (b) An executed copy of the opinion of counsel for the Customer, Customer delivered to Customer’s underwriter with respect to the offering of Shares, it being agreed that the such opinion need not be addressed to the Bank nor subject to any reliance letter addressed to the Bank; and (c) In the case of an increase, if the appointment of the Bank was theretofore expressly limited, a certified copy of a resolution of the Board of Trustees Directors of the Customer increasing the authority of the Bank. 2. Prior to the issuance of any additional Shares pursuant to stock dividends, stock splits or otherwise, and prior to any reduction in the number of Shares outstanding, the Customer shall deliver the following documents to the Bank: (a) A certified copy of the resolutions adopted by the Board of Trustees Directors and/or the shareholders of the Customer authorizing such issuance of additional Shares of the Customer or such reduction, as the case may be; and (b) A certified copy of the order or consent of each governmental or regulatory authority required by law as a prerequisite to the issuance or reduction of such Shares, as the case may be.

AUTHORIZATION AND ISSUANCE OF SHARES. 1. The Customer shall deliver to the Bank the following documents on or before the effective date of any increase, decrease or other change in the total number of Shares authorized to be issued: (a) A certified copy of the resolutions of amendment to the Board of Trustees of the Customer Charter giving effect to such increase, decrease or change; (b) An executed copy of the opinion of counsel for the Customer, Customer delivered to Customer’s 's underwriter with respect to the offering of Shares, it being agreed that the such opinion need not be addressed to the Bank nor subject to any reliance letter addressed to the Bank; and (c) In the case of an increase, if the appointment of the Bank was theretofore expressly limited, a certified copy of a resolution of the Board of Trustees Directors of the Customer increasing the authority of the Bank. 2. Prior to the issuance of any additional Shares pursuant to stock dividends, stock splits or otherwise, and prior to any reduction in the number of Shares outstanding, the Customer shall deliver the following documents to the Bank: (a) A certified copy of the resolutions adopted by the Board of Trustees Directors and/or the shareholders of the Customer authorizing such issuance of additional Shares of the Customer or such reduction, as the case may be; and (b) A certified copy of the order or consent of each governmental or regulatory authority required by law as a prerequisite to the issuance or reduction of such Shares, as the case may be.