Continuation of Trust. (a) The Trust continued hereby shall be known as “Credit Suisse Group Capital (Delaware) Trust III,” in which name the Trust, and the Trustee on behalf of the Trust, may engage in the transactions contemplated hereby, make and execute contracts and other instruments and ▇▇▇ and be sued. It is the intention of the parties that the Trust continued hereby constitute a statutory trust under the Statutory Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into and performing its duties under the related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor hereby delivers to the Trustee for deposit in the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] for the benefit of the Holders of the Trust Preferred Securities. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustee or any other Holder, each Holder shall be entitled to enforce, in the name of the Trust, the rights of the Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under the Subordinated Guarantee] represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee or any other Holder individually or to the Holders as a group. The Trustee shall have the power and authority (subject to the Trustee’s rights, privileges and protections in Section 6.02 and elsewhere herein) to enforce any of the Trust’s rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] which are not enforced by any Holder. Subject to Section 7.02, the Trust shall be irrevocable. (b) The Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] registered in the name of the Trust, and its acceptance on behalf of the Trust of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] for the benefit of the Holders of the Trust Preferred Securities.
Appears in 2 contracts
Sources: Trust Agreement (Credit Suisse Group), Trust Agreement (Credit Suisse (Usa) Inc)
Continuation of Trust. (a) The Trust continued hereby shall be known as “Credit Suisse Group Capital (Delaware) "UBS Preferred Funding Trust IIIV,” " in which name the Trust, and the Trustee on behalf of the Trust, Trust may engage in the transactions contemplated hereby, make and execute contracts and other instruments and ▇▇▇ sue and be sued. The Trustee shall have the power and authority to cau▇▇ the Trust to do such things. It is the intention of the parties that the Trust continued hereby constitute a statutory trust under the Statutory Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes sole purpose of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into Securities held by the Trust and performing its duties under the functions directly related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor hereby delivers to the Trustee for deposit in the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] - for the benefit of the Holders of the Trust Preferred Securities. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustee or any other Holder, each Holder shall be entitled to enforce, in the name of the Trust, the rights of the Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under Securities and the Subordinated Guarantee] Guarantee represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee or any other Holder individually or to the Holders as a group. The Trustee shall have the power and authority (subject to the Trustee’s 's rights, privileges and protections in Section 6.02 and elsewhere herein) to enforce any of the Trust’s 's rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] Securities which are not enforced by any Holder. Subject to Section 7.02, the Trust shall be irrevocable.
(b) The Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Certificates representing Company Preferred Securities with having an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] - registered in the name of the Trust, and its acceptance on behalf of the Trust of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] Securities for the benefit of the Holders of the Trust Preferred Securities.
Appears in 2 contracts
Sources: Trust Agreement (UBS Preferred Funding Trust VIII), Trust Agreement (Ubs Preferred Funding Trust Iv)
Continuation of Trust. (a) The Trust continued hereby shall be known as “Credit Suisse Group Capital (Delaware) Trust IIIII,” in which name the Trust, and the Trustee on behalf of the Trust, may engage in the transactions contemplated hereby, make and execute contracts and other instruments and ▇▇▇ and be sued. It is the intention of the parties that the Trust continued hereby constitute a statutory trust under the Statutory Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into and performing its duties under the related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor hereby delivers to the Trustee for deposit in the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] for the benefit of the Holders of the Trust Preferred Securities. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustee or any other Holder, each Holder shall be entitled to enforce, in the name of the Trust, the rights of the Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under the Subordinated Guarantee] represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee or any other Holder individually or to the Holders as a group. The Trustee shall have the power and authority (subject to the Trustee’s rights, privileges and protections in Section 6.02 and elsewhere herein) to enforce any of the Trust’s rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] which are not enforced by any Holder. Subject to Section 7.02, the Trust shall be irrevocable.
(b) The Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] registered in the name of the Trust, and its acceptance on behalf of the Trust of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] for the benefit of the Holders of the Trust Preferred Securities.
Appears in 2 contracts
Sources: Trust Agreement (Credit Suisse Group), Trust Agreement (Credit Suisse (Usa) Inc)
Continuation of Trust. (a) The Trust continued hereby shall be known as “Credit Suisse Group Capital (Delaware) Trust IIII,” in which name the Trust, and the Trustee on behalf of the Trust, may engage in the transactions contemplated hereby, make and execute contracts and other instruments and ▇▇▇ and be sued. It is the intention of the parties that the Trust continued hereby constitute a statutory trust under the Statutory Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into and performing its duties under the related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor hereby delivers to the Trustee for deposit in the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] for the benefit of the Holders of the Trust Preferred Securities. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustee or any other Holder, each Holder shall be entitled to enforce, in the name of the Trust, the rights of the Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under the Subordinated Guarantee] represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee or any other Holder individually or to the Holders as a group. The Trustee shall have the power and authority (subject to the Trustee’s rights, privileges and protections in Section 6.02 and elsewhere herein) to enforce any of the Trust’s rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] which are not enforced by any Holder. Subject to Section 7.02, the Trust shall be irrevocable.
(b) The Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] registered in the name of the Trust, and its acceptance on behalf of the Trust of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] for the benefit of the Holders of the Trust Preferred Securities.
Appears in 2 contracts
Sources: Trust Agreement (Credit Suisse (Usa) Inc), Trust Agreement (Credit Suisse Group)
Continuation of Trust. (a) The Trust continued hereby shall be known as “Credit Suisse Group Capital (Delaware) "UBS Preferred Funding Trust IIIIX,” " in which name the Trust, and the Trustee on behalf of the Trust, Trust may engage in the transactions contemplated hereby, make and execute contracts and other instruments and sue and be sued. The Trustee shall have the power and authority to ca▇▇▇ and be suedthe Trust to do such things. It is the intention of the parties that the Trust continued hereby constitute a statutory trust under the Statutory Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes sole purpose of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into Securities held by the Trust and performing its duties under the functions directly related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor hereby delivers to the Trustee for deposit in the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] - for the benefit of the Holders of the Trust Preferred Securities. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustee or any other Holder, each Holder shall be entitled to enforce, in the name of the Trust, the rights of the Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under Securities and the Subordinated Guarantee] Guarantee represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee or any other Holder individually or to the Holders as a group. The Trustee shall have the power and authority (subject to the Trustee’s 's rights, privileges and protections in Section 6.02 and elsewhere herein) to enforce any of the Trust’s 's rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] Securities which are not enforced by any Holder. Subject to Section 7.02, the Trust shall be irrevocable.
(b) The Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Certificates representing Company Preferred Securities with having an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] - registered in the name of the Trust, and its acceptance on behalf of the Trust of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] Securities for the benefit of the Holders of the Trust Preferred Securities.
Appears in 1 contract
Continuation of Trust. (a) The Trust continued hereby shall be known as “Credit Suisse Group Capital (Delaware) "UBS Preferred Funding Trust IIIVII,” " in which name the Trust, and the Trustee on behalf of the Trust, Trust may engage in the transactions contemplated hereby, make and execute contracts and other instruments and ▇▇▇ sue and be sued. The Trustee shall have the power and authority to cau▇▇ the Trust to do such things. It is the intention of the parties that the Trust continued hereby constitute a statutory trust under the Statutory Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes sole purpose of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into Securities held by the Trust and performing its duties under the functions directly related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor hereby delivers to the Trustee for deposit in the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] - for the benefit of the Holders of the Trust Preferred Securities. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustee or any other Holder, each Holder shall be entitled to enforce, in the name of the Trust, the rights of the Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under Securities and the Subordinated Guarantee] Guarantee represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee or any other Holder individually or to the Holders as a group. The Trustee shall have the power and authority (subject to the Trustee’s 's rights, privileges and protections in Section 6.02 and elsewhere herein) to enforce any of the Trust’s 's rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] Securities which are not enforced by any Holder. Subject to Section 7.02, the Trust shall be irrevocable.
(b) The Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Certificates representing Company Preferred Securities with having an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] - registered in the name of the Trust, and its acceptance on behalf of the Trust of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] Securities for the benefit of the Holders of the Trust Preferred Securities.
Appears in 1 contract
Continuation of Trust. (a) The Trust continued hereby shall be known as “"Credit Suisse Group Capital (Delaware) Trust IIII,” " in which name the Trust, and the Trustee on behalf of the Trust, may engage in the transactions contemplated hereby, make and execute contracts and other instruments and ▇▇▇ and be sued. It is the intention of the parties that the Trust continued hereby constitute a statutory trust under the Statutory Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes sole purpose of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Securities held by the Trust and related rights under the Subordinated Notes] [Eligible Investments], (ii) entering into Guarantee and performing its duties under the functions directly related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor hereby delivers to the Trustee for deposit in the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] Preference of $[ ] ________ for the benefit of the Holders of the Trust Preferred Securities. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustee or any other Holder, each Holder shall be entitled to enforce, in the name of the Trust, the rights of the Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and Securities and the related rights under the Subordinated Guarantee] Guarantee represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee or any other Holder individually or to the Holders as a group. The Trustee shall have the power and authority (subject to the Trustee’s 's rights, privileges and protections in Section 6.02 and elsewhere herein) to enforce any of the Trust’s 's rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] Securities which are not enforced by any Holder. Subject to Section 7.02, the Trust shall be irrevocable.
(b) The Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Certificates representing Company Preferred Securities with having an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] Preference of $[ ] ________ registered in the name of the Trust, and its acceptance on behalf of the Trust of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] Securities for the benefit of the Holders of the Trust Preferred Securities.
Appears in 1 contract
Continuation of Trust. (a) The Trust continued hereby shall be known as “Credit Suisse Group Capital (Delaware) "UBS Preferred Funding Trust IIIVIII,” " in which name the Trust, and the Trustee on behalf of the Trust, Trust may engage in the transactions contemplated hereby, make and execute contracts and other instruments and ▇▇▇ sue and be sued. The Trustee shall have the power and authority to cau▇▇ the Trust to do such things. It is the intention of the parties that the Trust continued hereby constitute a statutory trust under the Statutory Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes sole purpose of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into Securities held by the Trust and performing its duties under the functions directly related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor hereby delivers to the Trustee for deposit in the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] - for the benefit of the Holders of the Trust Preferred Securities. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustee or any other Holder, each Holder shall be entitled to enforce, in the name of the Trust, the rights of the Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under Securities and the Subordinated Guarantee] Guarantee represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee or any other Holder individually or to the Holders as a group. The Trustee shall have the power and authority (subject to the Trustee’s 's rights, privileges and protections in Section 6.02 and elsewhere herein) to enforce any of the Trust’s 's rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] Securities which are not enforced by any Holder. Subject to Section 7.02, the Trust shall be irrevocable.
(b) The Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Certificates representing Company Preferred Securities with having an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] - registered in the name of the Trust, and its acceptance on behalf of the Trust of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] Securities for the benefit of the Holders of the Trust Preferred Securities.
Appears in 1 contract
Continuation of Trust. (a) The Trust continued hereby shall be known as “Credit Suisse Group Capital (Delaware) Trust III,” in which name the Trust, Company and the Trustee on behalf hereby continue the Trust previously established, which shall be held, administered and disposed of by the Trustee as provided in this Agreement. This amendment of the Trust, may engage in the transactions contemplated hereby, make and execute contracts and other instruments and ▇▇▇ and be sued. It previously established Trust is the intention of the parties that the Trust continued hereby constitute a statutory trust under the Statutory Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and not intended to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into and performing its duties under the related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor hereby delivers to the Trustee for deposit in the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] for the benefit of the Holders of the Trust Preferred Securities. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustee or any other Holder, each Holder shall be entitled to enforce, in the name of the Trust, adversely affect the rights of the participants thereunder.
(b) The Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under the Subordinated Guarantee] represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee or any other Holder individually or to the Holders as a group. The Trustee shall have the power and authority (subject to the Trustee’s rights, privileges and protections in Section 6.02 and elsewhere herein) to enforce any of the Trust’s rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] which are not enforced by any Holder. Subject to Section 7.02, the Trust hereby established shall be irrevocable.
(bc) The Trustee hereby acknowledges receipt Trust is intended to be a grantor trust, of [one or more which the Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate is the grantor, within the meaning of subpart E, part I, subchapter J, chapter 1, subtitle A of the Internal Revenue Code of 1986, as amended, and shall be construed accordingly.
(d) The principal amount] [Eligible Investments in an amount] of $[ ] registered in the name of the Trust, and its acceptance on behalf any earnings thereon, shall be held separate and apart from other funds of the Trust Company and shall be used exclusively for the uses and purposes of Plan participants and general creditors as herein set forth. Plan participants and their beneficiaries shall have no preferred claim on, or any beneficial ownership interest in, any assets of the [Trust. Any rights created under the Plan(s) and this Agreement shall be mere unsecured contractual rights of Plan participants and their beneficiaries against the Company. Any assets held by the Trust will be subject to the claims of the Company’s general creditors under federal and state law in the event of Insolvency, as defined in Section 3(a) herein.
(e) The Company, in its sole discretion, may at any time, or from time to time, make additional deposits of cash or other property acceptable to the Trustee in trust with the Trustee to augment the principal to be held, administered and disposed of by the Trustee as provided in this Agreement. Neither the Trustee nor any Plan participant or beneficiary shall have any right to compel such additional deposits.
(f) It is the intent of the Company Preferred Securities] [Subordinated Notes] [Eligible Investments]that all benefits payable under the Plans that were earned and vested as of December 31, and declares that 2004 (the “Grandfathered Benefits”) not be subject to Section 409A of the Code. Accordingly, except as explicitly provided therein, no amendment to any Plan or the Trust shall hold be effective with respect to the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] Grandfathered Benefits if such amendment would constitute a material modification for the benefit purposes of Section 409A of the Holders of Code and the Trust Preferred Securitiesregulations and other guidance issued thereunder.
Appears in 1 contract
Sources: Trust Agreement (Flowserve Corp)
Continuation of Trust. The exclusive purposes and functions of the Issuer Trust are to (a) The issue and sell Trust continued hereby shall be known as “Credit Suisse Group Capital (Delaware) Trust III,” in which name the Trust, Securities and the Trustee on behalf of the Trust, may engage in the transactions contemplated hereby, make and execute contracts and other instruments and ▇▇▇ and be sued. It is the intention of the parties that the Trust continued hereby constitute a statutory trust under the Statutory Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Junior Subordinated Notes] [Eligible Investments]Debentures, (ii) entering into and performing its duties under the related documents to which it is a party and (iiib) engaging engage in only those other activities necessary or incidental thereto, including, without limitation, the execution and delivery of the Expense Agreement, the Common Securities Subscription Agreement and the Junior Subordinated Debenture Subscription Agreement. The Grantor Sponsor hereby delivers reaffirms the appointment of the Delaware Trustee and the Property Trustee as trustees of the Issuer Trust, to have all the rights, powers and duties to the extent set forth herein, and the Issuer Trustees hereby accept such appointment. The Property Trustee for deposit in hereby declares that it will hold the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes Property in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] trust upon and subject to the conditions set forth herein for the benefit of the Holders Issuer Trust and the Holders. The Sponsor hereby appoints the Administrators, with such Administrators having all rights, powers and duties set forth herein and in accordance with applicable law with respect to accomplishing, the purposes of the Issuer Trust, and the Administrators hereby accept such appointment, provided, however, that it is the intent of the parties hereto that such Administrators shall not be trustees with respect to the Issuer Trust Preferred Securities. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustee or any other Holder, each Holder and this Trust Agreement shall be entitled to enforce, construed in the name of the Trust, the rights of the Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under the Subordinated Guarantee] represented by the Trust Preferred Securities held by a manner consistent with such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee or any other Holder individually or to the Holders as a groupintent. The Property Trustee shall have the right and power and authority (subject to perform those duties assigned to the Trustee’s rightsAdministrators. The Delaware Trustee shall not be entitled to exercise any powers, privileges and protections in Section 6.02 and elsewhere herein) to enforce nor shall the Delaware Trustee have any of the Trust’s rights in respect duties and responsibilities, of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] which are not enforced by any HolderProperty Trustee or the Administrators set forth herein. Subject to Section 7.02, the Trust The Delaware Trustee shall be irrevocable.
(b) The Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] registered in the name of the Trust, and its acceptance on behalf trustees of the Issuer Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], Delaware Statutory Trust Act and declares that for taking such actions as are required to be taken by a Delaware trustee under the Delaware Statutory Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] for the benefit of the Holders of the Trust Preferred SecuritiesAct.
Appears in 1 contract
Continuation of Trust. (a) The Trust continued hereby shall be known as “Credit Suisse Group Capital (Delaware) "UBS Preferred Funding Trust IIIIV,” " in which name the Trust, and the Trustee on behalf of the Trust, Trust may engage in the transactions contemplated hereby, make and execute contracts and other instruments and ▇▇▇ sue and be sued. The Trustee shall have the power and authority to cau▇▇ the Trust to do such things. It is the intention of the parties that the Trust continued hereby constitute a statutory trust under the Statutory Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes sole purpose of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into Securities held by the Trust and performing its duties under the functions directly related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor hereby delivers to the Trustee for deposit in the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] - for the benefit of the Holders of the Trust Preferred Securities. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustee or any other Holder, each Holder shall be entitled to enforce, in the name of the Trust, the rights of the Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under Securities and the Subordinated Guarantee] Guarantee represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee or any other Holder individually or to the Holders as a group. The Trustee shall have the power and authority (subject to the Trustee’s 's rights, privileges and protections in Section 6.02 and elsewhere herein) to enforce any of the Trust’s 's rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] Securities which are not enforced by any Holder. Subject to Section 7.02, the Trust shall be irrevocable.
(b) The Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Certificates representing Company Preferred Securities with having an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] - registered in the name of the Trust, and its acceptance on behalf of the Trust of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] Securities for the benefit of the Holders of the Trust Preferred Securities.
Appears in 1 contract
Continuation of Trust. The exclusive purposes and functions of the Issuer Trust are (a) The to issue the Trust continued hereby shall be known as “Credit Suisse Group Capital Securities pursuant to the Agreement of Merger, (Delawareb) Trust III,” in which name to hold the TrustDebentures acquired pursuant to the Agreement of Merger, and the Trustee on behalf of the Trust, may (c) to engage in the transactions contemplated herebythose activities convenient, make and execute contracts and other instruments and ▇▇▇ and be sued. It is the intention of the parties that the Trust continued hereby constitute a statutory trust under the Statutory Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into and performing its duties under the related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor Depositor hereby delivers reaffirms the appointment of the Property Trustee, the Delaware Trustee and the Administrative Trustees as trustees of the Issuer Trust, to have all the rights, powers and duties to the extent set forth herein, and the respective Issuer Trustees hereby accept such appointment. The Property Trustee for deposit in hereby declares that it will hold the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes Property in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] trust upon and subject to the conditions set forth herein for the benefit of the Holders Issuer Trust and the Holders. The Administrative Trustees shall have all rights, powers and duties set forth herein and in accordance with applicable law with respect to accomplishing the purposes of the Issuer Trust. The Delaware Trustee shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee, the Administrative Trustees or of the Issuer Trustees generally (except as may be required under the Delaware Statutory Trust Preferred SecuritiesAct) set forth herein. To The Delaware Trustee shall be one of the fullest extent permitted trustees of the Issuer Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Statutory Trust Act and for taking such actions as are required to be taken by lawa Delaware trustee under the Delaware Statutory Trust Act. The Merger, without the Agreement of Merger and the Certificate of Merger referenced in the Agreement of Merger, have been fully authorized by the Original Trust Agreement and are hereby approved and ratified in all respects. Without the need for any other consent or action of any Person, including the Trustee or any other Holder, each Holder shall be entitled to enforce, in the name of the Trustperson, the rights of Merger may be consummated, and the Issuer Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under the Subordinated Guarantee] represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the actionmay execute, not to the Trustdeliver, perform and file, if applicable, the Trustee or any other Holder individually or to the Holders as a group. The Trustee shall have the power Agreement of Merger and authority (subject to the Trustee’s rights, privileges and protections in Section 6.02 and elsewhere herein) to enforce any Certificate of the Trust’s rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] which are not enforced by any Holder. Subject to Section 7.02, the Trust shall be irrevocableMerger.
(b) The Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] registered in the name of the Trust, and its acceptance on behalf of the Trust of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] for the benefit of the Holders of the Trust Preferred Securities.
Appears in 1 contract
Sources: Trust Agreement (Popular Inc)
Continuation of Trust. The exclusive purposes and functions of the Trust are (a) The to issue the Securities in exchange for the Trust continued hereby shall be known as “Credit Suisse Group Capital (Delaware) Trust III,” in which name the TrustDebentures, and the Trustee on behalf of the Trust, may (b) to engage in the transactions contemplated hereby, make and execute contracts and other instruments and ▇▇▇ and be sued. It is the intention of the parties that the Trust continued hereby constitute a statutory trust under the Statutory Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into and performing its duties under the related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor GE Capital, as Holder of the Common Securities, hereby delivers reaffirms the appointment of the Delaware Trustee, the Property Trustee and the Administrative Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the respective Trustees hereby accept such appointment. The Property Trustee for deposit in hereby declares that it will hold the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes Property in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] trust upon and subject to the conditions set forth herein for the benefit of the Holders Trust and the Holders. The Administrative Trustees shall have all rights, powers and duties set forth herein and in accordance with applicable law with respect to accomplishing the purposes of the Trust. The Delaware Trustee is appointed to serve as the trustee of the Trust Preferred Securitiesin the State of Delaware for the sole purpose of satisfying the requirement of Section 3807(a) of the Statutory Trust Act that the Trust have at least one trustee with a principal place of business in the State of Delaware. It is understood and agreed by the parties hereto that the Delaware Trustee shall have none of the duties or liabilities of the Administrative Trustees or the Property Trustee. The duties of the Delaware Trustee shall be limited to (i) accepting legal process served on the Trust in the State of Delaware and (ii) the execution of any certificates required to be filed with the Delaware Secretary of State which the Delaware Trustee is required to execute under Section 3811 of the Statutory Trust Act. To the fullest extent permitted that, at law or in equity, the Delaware Trustee has duties (including fiduciary duties) and liabilities relating thereto to the Trust or the Holders, it is hereby understood and agreed by law, without the need other parties hereto that such duties and liabilities are replaced by the duties and liabilities of the Delaware Trustee expressly set forth in this Trust Agreement. The Delaware Trustee shall have no liability for any other action the acts or omissions of any Person, including the Administrative Trustees or the Property Trustee. The Delaware Trustee or any other Holder, each Holder shall be entitled to enforce, in the name all of the Trustsame rights, the rights of protections, indemnities and immunities under this Trust Agreement and with respect to the Trust under as the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under the Subordinated Guarantee] represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee or any other Holder individually or to the Holders as a group. The Trustee shall have the power and authority (subject to the Property Trustee’s rights, privileges and protections in Section 6.02 and elsewhere herein) to enforce any of the Trust’s rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] which are not enforced by any Holder. Subject to Section 7.02, the Trust shall be irrevocable.
(b) The Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] registered in the name of the Trust, and its acceptance on behalf of the Trust of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] for the benefit of the Holders of the Trust Preferred Securities.
Appears in 1 contract
Sources: Trust Agreement (GE Capital Trust I)
Continuation of Trust. (a) The Property Trustee acknowledges receipt in trust from the Depositor in connection with the Original Trust continued hereby shall be known as “Credit Suisse Group Capital (Delaware) Trust III,” in which name the Trust, and the Trustee on behalf Agreement of the Trustsum of $10, may engage in which constituted the transactions contemplated hereby, make and execute contracts and other instruments and ▇▇▇ and be suedinitial Trust Property. It is the intention The Depositor shall pay organizational expenses of the parties that Trust as they arise or shall, upon request of any Trustee, promptly reimburse such Trustee for any such expenses paid by such Trustee. The Depositor is not a beneficial owner of the Trust continued hereby constitute a statutory trust under or Trust Property and shall make no claim upon the Statutory Trust Act and that this Trust Agreement constitute Property for the governing instrument payment of the Trustsuch expenses. The Trust exists for the exclusive purposes sole purpose of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in a corresponding amount of the Company Preferred Securities held by the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into and performing its duties under the functions directly related documents to which it is a party and (iii) engaging thereto, as set forth in only those other activities necessary or incidental theretoSection 2.5. The Grantor Depositor hereby delivers to the Trustee for deposit in the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] _______ for the benefit of the Holders of the Trust Preferred Securities. Each Holder is intended by the Depositor to be the beneficial owner of an amount of Company Preferred Securities represented by the amount of Trust Preferred Securities held by such Holder and collectively, the Holders are the sole beneficial owners of the Trust and the Trust Property. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustee Trustees or any other Holder, each Holder shall be entitled to enforce, in the name of the Trust, the rights of the Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and Securities and the related rights under the Subordinated Guarantee] Guarantee represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee Trustees or any other Holder individually or to the Holders as a group. The Property Trustee shall have the power and authority (subject to the Trustee’s 's rights, privileges and protections in Section 6.02 and contained elsewhere herein) to enforce any of the Trust’s 's rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] Securities which are not enforced by any Holder. Subject to Section 7.02Article 10, the Trust shall be irrevocable.
(b) . The Property Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Security Certificates representing Company Preferred Securities with having an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] _________ registered in the name of the Trust, and its acceptance on behalf of the Trust of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] Securities for the benefit of the Holders of the Trust Preferred Securities.
Appears in 1 contract
Continuation of Trust. The exclusive purposes and functions of the Issuer Trust are (a) The to issue the Trust continued hereby shall be known as “Credit Suisse Group Capital Securities pursuant to the Agreement of Merger, (Delawareb) Trust III,” in which name to hold the TrustDebentures acquired pursuant to the Agreement of Merger, and the Trustee on behalf of the Trust, may (c) to engage in the transactions contemplated hereby, make and execute contracts and other instruments and ▇▇▇ and be sued. It is the intention of the parties that the Trust continued hereby constitute a statutory trust under the Statutory Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into and performing its duties under the related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor Depositor hereby delivers reaffirms the appointment of the Property Trustee, the Delaware Trustee and the Administrative Trustees as trustees of the Issuer Trust, to have all the rights, powers and duties to the extent set forth herein, and the respective Issuer Trustees hereby accept such appointment. The Property Trustee for deposit in hereby declares that it will hold the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes Property in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] trust upon and subject to the conditions set forth herein for the benefit of the Holders Issuer Trust and the Holders. The Administrative Trustees shall have all rights, powers and duties set forth herein and in accordance with applicable law with respect to accomplishing the purposes of the Issuer Trust. The Delaware Trustee shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee, the Administrative Trustees or of the Issuer Trustees generally (except as may be required under the Delaware Statutory Trust Preferred SecuritiesAct) set forth herein. To The Delaware Trustee shall be one of the fullest extent permitted trustees of the Issuer Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Statutory Trust Act and for taking such actions as are required to be taken by lawa Delaware trustee under the Delaware Statutory Trust Act. The Merger, without the Agreement of Merger and the Certificate of Merger referenced in the Agreement of Merger, have been fully authorized by the Original Trust Agreement and are hereby approved and ratified in all respects. Without the need for any other consent or action of any Person, including the Trustee or any other Holder, each Holder shall be entitled to enforce, in the name of the Trustperson, the rights of Merger may be consummated, and the Issuer Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under the Subordinated Guarantee] represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the actionmay execute, not to the Trustdeliver, perform and file, if applicable, the Trustee or any other Holder individually or to the Holders as a group. The Trustee shall have the power Agreement of Merger and authority (subject to the Trustee’s rights, privileges and protections in Section 6.02 and elsewhere herein) to enforce any Certificate of the Trust’s rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] which are not enforced by any Holder. Subject to Section 7.02, the Trust shall be irrevocableMerger.
(b) The Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] registered in the name of the Trust, and its acceptance on behalf of the Trust of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] for the benefit of the Holders of the Trust Preferred Securities.
Appears in 1 contract
Sources: Trust Agreement (Popular Inc)
Continuation of Trust. (a) The Trust continued hereby shall be known as “Credit Suisse Group Capital (Delaware) "UBS Preferred Funding Trust IIIII,” " in which name the Trust, and the Trustee on behalf of the Trust, Trust may engage in the transactions contemplated hereby, make and execute contracts and other instruments and sue ▇▇▇ and be sued. The Trustee shall have the power and authority to cause the Trust to do such things. It is the intention of the parties that the Trust continued hereby constitute a statutory business trust under the Statutory Business Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes sole purpose of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into Securities held by the Trust and performing its duties under the functions directly related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor hereby delivers to the Trustee for deposit in the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] - for the benefit of the Holders of the Trust Preferred Securities. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustee or any other Holder, each Holder shall be entitled to enforce, in the name of the Trust, the rights of the Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under Securities and the Subordinated Guarantee] Guarantee represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee or any other Holder individually or to the Holders as a group. The Trustee shall have the power and authority (subject to the Trustee’s 's rights, privileges and protections in Section 6.02 and elsewhere herein) to enforce any of the Trust’s 's rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] Securities which are not enforced by any Holder. Subject to Section 7.02, the Trust shall be irrevocable.
(b) The Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Certificates representing Company Preferred Securities with having an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] - registered in the name of the Trust, and its acceptance on behalf of the Trust of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] Securities for the benefit of the Holders of the Trust Preferred Securities.
Appears in 1 contract
Continuation of Trust. (a) The Trust continued hereby shall be known as “Credit Suisse Group Capital (Delaware) "UBS Preferred Funding Trust III,” " in which name the Trust, and the Trustee on behalf of the Trust, Trust may engage in the transactions contemplated hereby, make and execute contracts and other instruments and sue ▇▇▇ and be sued. The Trustee shall have the power and authority to cause the Trust to do such things. It is the intention of the parties that the Trust continued hereby constitute a statutory business trust under the Statutory Business Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes sole purpose of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into Securities held by the Trust and performing its duties under the functions directly related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor hereby delivers to the Trustee for deposit in the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] - for the benefit of the Holders of the Trust Preferred Securities. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustee or any other Holder, each Holder shall be entitled to enforce, in the name of the Trust, the rights of the Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under Securities and the Subordinated Guarantee] Guarantee represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee or any other Holder individually or to the Holders as a group. The Trustee shall have the power and authority (subject to the Trustee’s 's rights, privileges and protections in Section 6.02 and elsewhere herein) to enforce any of the Trust’s 's rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] Securities which are not enforced by any Holder. Subject to Section 7.02, the Trust shall be irrevocable.
(b) The Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Certificates representing Company Preferred Securities with having an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] - registered in the name of the Trust, and its acceptance on behalf of the Trust of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] Securities for the benefit of the Holders of the Trust Preferred Securities.
Appears in 1 contract
Continuation of Trust. (a) The Trust continued hereby shall be known as “Credit Suisse Group Capital (Delaware) "UBS Preferred Funding Trust IIIVI,” " in which name the Trust, and the Trustee on behalf of the Trust, Trust may engage in the transactions contemplated hereby, make and execute contracts and other instruments and ▇▇▇ sue and be sued. The Trustee shall have the power and authority to cau▇▇ the Trust to do such things. It is the intention of the parties that the Trust continued hereby constitute a statutory trust under the Statutory Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes sole purpose of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into Securities held by the Trust and performing its duties under the functions directly related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor hereby delivers to the Trustee for deposit in the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] - for the benefit of the Holders of the Trust Preferred Securities. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustee or any other Holder, each Holder shall be entitled to enforce, in the name of the Trust, the rights of the Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under Securities and the Subordinated Guarantee] Guarantee represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee or any other Holder individually or to the Holders as a group. The Trustee shall have the power and authority (subject to the Trustee’s 's rights, privileges and protections in Section 6.02 and elsewhere herein) to enforce any of the Trust’s 's rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] Securities which are not enforced by any Holder. Subject to Section 7.02, the Trust shall be irrevocable.
(b) The Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Certificates representing Company Preferred Securities with having an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] - registered in the name of the Trust, and its acceptance on behalf of the Trust of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] Securities for the benefit of the Holders of the Trust Preferred Securities.
Appears in 1 contract
Continuation of Trust. (a) The Trust continued hereby shall be known as “Credit Suisse Group Capital (Delaware) Trust III,” in which name consists of the Trustassets currently held by the Trustee, and the Trustee on behalf such sums of the Trust, may engage in the transactions contemplated hereby, make and execute contracts money and other instruments and ▇▇▇ and be sued. It is the intention of the parties that the Trust continued hereby constitute a statutory trust under the Statutory Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into and performing its duties under the related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor hereby delivers property acceptable to the Trustee for deposit in the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] for the benefit of the Holders of the Trust Preferred Securities. To the fullest extent permitted as from time to time shall be paid and delivered to and accepted by law, without the need for any other action of any Person, including the Trustee or any other Holder, each Holder shall be entitled to enforce, in from the name of the Trust, the rights of the Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under the Subordinated Guarantee] represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee or any other Holder individually or to the Holders as a groupCompany. The Trustee shall have no duty to determine or collect contributions under the power Plan and authority (subject to shall have no responsibility for any property until it is received and accepted by the Trustee’s rights, privileges . The Company shall have the sole duty and protections in Section 6.02 and elsewhere herein) to enforce any responsibility for the determination of the Trust’s rights in respect accuracy or sufficiency of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] which are not enforced contributions to be made under the Plan. All such money and other property paid or delivered to and accepted by any Holder. Subject to Section 7.02, the Trustee shall become the principal of the Trust shall to be irrevocableheld, administered and disposed of by the Trustee as provided in this Trust Agreement.
(b) The Trustee hereby acknowledges receipt Trust is irrevocable by the Company.
(c) The Trust is intended to be a grantor trust, of [one which the Company is the grantor, within the meaning of subpart E, part I, subchapter J, chapter 1, subtitle A of the Internal Revenue Code of 1986, as amended (the “Code”), and shall be construed accordingly. The Company represents and warrants to the Trustee: (i) the Plan for which benefits are or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate may become payable under this Trust is not subject to Part 4 of Title I of ERISA; and (ii) the Plan covers, and will cover, only a select group of management or highly compensated employees as contemplated by Section 401(a) of ERISA and interpretations, opinions, and rulings of the Department of Labor thereunder.
(d) The principal amount] [Eligible Investments in an amount] of $[ ] registered in the name of the Trust, and its acceptance on behalf any earnings thereon shall be held separate and apart from other funds of the Trust Company and shall be used exclusively for the uses and purposes of the [Participants and general creditors as herein set forth. The Participants and their beneficiaries shall have no preferred claim on, nor any beneficial ownership interest in, any assets of the Trust. Any rights created under the Plan and this Trust Agreement shall be mere unsecured contractual rights of the Participants and their beneficiaries against the Company. Any assets held by the Trust will be subject to the claims of the general creditors of the Company Preferred Securities] [Subordinated Notes] [Eligible Investments]or a subsidiary of the Company under federal and state law in the event of insolvency, as defined in Section 3(a) herein.
(e) Upon a Change of Control, the Company shall, as soon as possible, but in no event longer than 30 days following the Change of Control, as defined herein, make an irrevocable contribution to the Trust in an amount that is sufficient to pay each Plan participant or beneficiary the benefits to which Plan participants or their beneficiaries would be entitled pursuant to the terms of the Plan(s) (as certified to the Trustee by the Company) as of the date on which the Change of Control occurred. Nothing in the preceding sentence shall prevent the Company from making contributions of cash or property to the Trust prior to a Change of Control in amounts determined by the Company, in its sole discretion, up to and including the entire amount sufficient to pay the participants or their beneficiaries under the terms of the Plans.
(f) The Company represents and warrants to the Trustee that the Plan covers, and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] for the benefit will cover, only a select group of management or highly compensated employees as contemplated by Section 401(a) of ERISA and interpretations, opinions, and rulings of the Holders Department of Labor thereunder. The Company shall indemnify and hold harmless the Trustee, its parent, subsidiaries and affiliates and each of their respective officers, directors, employees and agents from and against all liability, loss and expense, including reasonable attorneys’ fees and expenses suffered or incurred by any of the Trust Preferred Securitiesforegoing indemnities as a result of a breach of the foregoing representation and warranty. The provisions of this subsection shall survive termination of this Agreement.
Appears in 1 contract
Continuation of Trust. (a) The Property Trustee acknowledges receipt in trust from the Depositor in connection with the Original Trust continued hereby shall be known as “Credit Suisse Group Capital (Delaware) Trust III,” in which name the Trust, and the Trustee on behalf Agreement of the Trustsum of $10, may engage in which constituted the transactions contemplated hereby, make and execute contracts and other instruments and ▇▇▇ and be suedinitial Trust Property. It is the intention The Depositor shall pay organizational expenses of the parties that Trust as they arise or shall, upon request of any Trustee, promptly reimburse such Trustee for any such expenses paid by such Trustee. The Depositor is not a beneficial owner of the Trust continued hereby constitute a statutory trust under or Trust Property and shall make no claim upon the Statutory Trust Act and that this Trust Agreement constitute Property for the governing instrument payment of the Trustsuch expenses. The Trust exists for the exclusive purposes sole purpose of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in a corresponding amount of the Company Preferred Securities held by the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into and performing its duties under the functions directly related documents to which it is a party and (iii) engaging thereto, as set forth in only those other activities necessary or incidental theretoSection 2.5. The Grantor Depositor hereby delivers to the Trustee for deposit in the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] ___________ for the benefit of the Holders of the Trust Preferred Securities. Each Holder is intended by the Depositor to be the beneficial owner of an amount of Company Preferred Securities represented by the amount of Trust Preferred Securities held by such Holder and collectively, the Holders are the sole beneficial owners of the Trust and the Trust Property. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustee Trustees or any other Holder, each Holder shall be entitled to enforce, in the name of the Trust, the rights of the Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and Securities and the related rights under the Subordinated Guarantee] Guarantee represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee Trustees or any other Holder individually or to the Holders as a group. The Property Trustee shall have the power and authority (subject to the Property Trustee’s 's rights, privileges and protections in Section 6.02 and contained elsewhere herein) to enforce any of the Trust’s 's rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] Securities which are not enforced by any Holder. Subject to Section 7.02Article 10, the Trust shall be irrevocable.
(b) . The Property Trustee hereby acknowledges receipt of [one or more Company Preferred Securities Security Certificates representing Company Preferred Securities with having an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] liquidation preference of $[ ] ___________ registered in the name of the Trust, and its acceptance on behalf of the Trust of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], and declares that the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] Securities for the benefit of the Holders of the Trust Preferred Securities.
Appears in 1 contract
Sources: Trust Agreement (Teco Energy Inc)
Continuation of Trust. (a) The Trust continued hereby From time to time Company shall be known deposit with Trustee in trust such sums of money and other property, as “Credit Suisse Group Capital (Delaware) Trust III,” the Company shall determine, in its sole discretion, to contribute, including, without limitation all, funds transferred from the Predecessor Trustee, which name shall become the Trust, and the Trustee on behalf principal of the Trust, may engage to be held, administered and disposed of by Trustee as provided in the transactions contemplated hereby, make and execute contracts and other instruments and ▇▇▇ and be sued. It is the intention of the parties that the Trust continued hereby constitute a statutory trust under the Statutory Trust Act and that this Trust Agreement constitute the governing instrument of the Trust. The Trust exists for the exclusive purposes of (i) issuing and selling Trust Preferred Securities representing an undivided beneficial interest in the Trust Estate and to use the proceeds from such sale to acquire the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments], (ii) entering into and performing its duties under the related documents to which it is a party and (iii) engaging in only those other activities necessary or incidental thereto. The Grantor hereby delivers to the Trustee for deposit in the Trust [one or more Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate principal amount] [Eligible Investments in an amount] of $[ ] for the benefit of the Holders of the Trust Preferred Securities. To the fullest extent permitted by law, without the need for any other action of any Person, including the Trustee or any other Holder, each Holder shall be entitled to enforce, in the name of the Trust, the rights of the Trust under the [Company Preferred Securities][Subordinated Notes][Eligible Investments][and the related rights under the Subordinated Guarantee] represented by the Trust Preferred Securities held by such Holder. Any recovery on such an enforcement action shall belong solely to such Holder who brought the action, not to the Trust, the Trustee or any other Holder individually or to the Holders as a group. The Trustee shall have the power and authority (subject to the Trustee’s rights, privileges and protections in Section 6.02 and elsewhere herein) to enforce any of the Trust’s rights in respect of the [Company Preferred Securities][Subordinated Notes][Eligible Investments] which are not enforced by any Holder. Subject to Section 7.02, the Trust shall be irrevocableAgreement.
(b) The Trustee Trust hereby acknowledges receipt established shall be revocable by the Company. However, it shall become irrevocable upon a Change of [one or more Control, as defined in Section 14 (d) hereof. 10
(c) The Trust is intended to be a grantor trust, of which Company Preferred Securities Certificates representing Company Preferred Securities with an aggregate Liquidation Preference] [Subordinated Notes in an aggregate is the grantor within the meaning of subpart E. part 1, subchapter J, chapter I, subtitle A of the Internal Revenue Code of 1986, as amended (the "Code"), and shall be construed accordingly.
(d) The principal amount] [Eligible Investments in an amount] of $[ ] registered in the name of the Trust, and its acceptance on behalf any earnings thereon. shall be held separate and apart from other funds of Company and shall be used exclusively for the uses and purposes of Plan participants and general creditors as herein set forth. Plan participants and their beneficiaries shall have no preferred claim on, or, any beneficial ownership interest in, any assets of the Trust. Any rights created under the Plan and this Trust Agreement shall be mere unsecured contractual rights of Plan participants and their beneficiaries against Company. Any assets held by the Trust will be subject to the claims of Company's general creditors under federal and state law in the event of Insolvency, as defined in Section 3(a) herein.
(e) Company, in its sole discretion, may at any time, or from time to time, make additional deposits of cash or other property, in trust with Trustee to augment the principal to be held, administered and disposed of by Trustee as provided in this Trust Agreement. Neither Trustee nor any Plan participant or beneficiary shall have any right to compel such additional deposits.
(f) Trustee may conclusively rely upon directions from the Plan Committee established by the Company, in taking any action with respect to this Trust Agreement, including the making of payments from Trust assets and the investment of Trust assets pursuant to this Trust Agreement. Trustee shall have no liability for actions taken, or for failure to act, on the direction of the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments]Committee. Moreover, and declares that Trustee shall have no liability for failure to act in the Trust shall hold the [Company Preferred Securities] [Subordinated Notes] [Eligible Investments] for the benefit absence of the Holders of the Trust Preferred Securitiesproper written directions.
Appears in 1 contract
Sources: Directors' Deferred Compensation Plan (Summit Bancorp/Nj/)