Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; and (b) to engage in those activities necessary, advisable or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 26 contracts
Sources: Trust Agreement (First Merchants Capital Trust I), Trust Agreement (Wintrust Financial Corp), Trust Agreement (Private Bancorp Capital Trust I)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 20 contracts
Sources: Trust Agreement (S Y Bancorp Inc), Trust Agreement (Great Southern Capital Trust I), Trust Agreement (First Banks Inc)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and Securities, (b) to use the proceeds from such sale to acquire the Debentures; Debentures and (bc) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 14 contracts
Sources: Trust Agreement (Mbna Corp), Trust Agreement (Mbna Corp), Trust Agreement (J P Morgan Chase & Co)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and Securities, (b) to use the proceeds from such sale to acquire the Debentures; Debentures and (bc) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 14 contracts
Sources: Trust Agreement (Susquehanna Capital IV), Trust Agreement (Countrywide Financial Corp), Trust Agreement (J P Morgan Chase & Co)
Declaration of Trust. The exclusive purposes and functions of the Issuer Trust are (a) to issue and sell Trust Securities and Securities, (b) use the proceeds from such sale to acquire the Debentures; , and (bc) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Issuer Trustees 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 hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the SecurityholdersIssuer 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, responsibilities of the Property Trustee or the Administrative Trustees, or any of the duties and responsibilities of the Issuer Trustees generally, set forth herein. The Delaware Trustee shall be one of the Trustees trustees of the Issuer Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act and for taking such actions as are required to be taken by a Delaware trustee under the Delaware Statutory Trust Act.
Appears in 14 contracts
Sources: Trust Agreement (BB&T Capital Trust II), Trust Agreement (Bb&t Corp), Trust Agreement (Bb&t Corp)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth hereinherein except as required by the Delaware Business Trust Act. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 3807(a) of the Delaware Business Trust Act.
Appears in 14 contracts
Sources: Trust Agreement (Lincoln National Corp), Trust Agreement (Assured Guaranty Capital Trust I), Trust Agreement (Lincoln National Corp)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 14 contracts
Sources: Trust Agreement (Silicon Valley Bancshares), Trust Agreement (Us Home & Garden Trust I), Trust Agreement (Downey Financial Capital Trust Iii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 12 contracts
Sources: Trust Agreement (Public Service Co of Oklahoma), Trust Agreement (Ncbe Capital Trust I), Trust Agreement (Ibc Capital Finance)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Junior Subordinated Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 11 contracts
Sources: Trust Agreement (Community First Bankshares Inc), Trust Agreement (VBC Capital I), Trust Agreement (VBC Capital I)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 9 contracts
Sources: Trust Agreement (Liberty Financial Capital Trust Ii), Trust Agreement (Lincoln National Capital Vi), Trust Agreement (Mellon Capital Iii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 6 contracts
Sources: Trust Agreement (Owens Corning Capital Ii), Trust Agreement (Owens Corning Capital Ii), Trust Agreement (Mellon Bank Corp)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Debt Securities, and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of any of the Property Trustee or the Administrative Trustees set forth hereinherein except as required by the Delaware Business Trust Act. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 6 contracts
Sources: Trust Agreement (Cna Financial Corp), Trust Agreement (Cna Financial Corp), Trust Agreement (Cna Financial Capital Iii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 5 contracts
Sources: Trust Agreement (Principal Financial Group Inc), Trust Agreement (AmerUs Capital V), Trust Agreement (Principal Financial Group Inc)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; and (b) to engage in those activities necessary, advisable or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 5 contracts
Sources: Trust Agreement (Bridge Bancorp Inc), Trust Agreement (Old Second Bancorp Inc), Trust Agreement (Ifc Capital Trust Vi)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and Securities, (b) to use the proceeds from such sale to acquire the Debentures; Debentures and (bc) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act and taking such actions as are required to be taken by the Delaware Trustee under the Business Trust Act.
Appears in 4 contracts
Sources: Trust Agreement (First Tennessee Capital Iv), Trust Agreement (First Tennessee Capital Iv), Trust Agreement (First Tennessee Capital Iv)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; Debentures and to hold, transfer, sell and otherwise dispose of the Debentures in accordance with this Trust Agreement, (b) to maintain the status of the Trust as a grantor trust for United States Federal income tax purposes, and (c) except as otherwise limited herein, to engage in only those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. The Administrative Trustees Trustee shall have all rights, powers and duties set forth herein and in accordance with applicable law with respect to accomplishing the purposes of the Trustherein. The Delaware Trustee shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, responsibilities of the Property Trustee or the Administrative Trustees Trustee set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 4 contracts
Sources: Trust Agreement (Public Service Electric & Gas Co), Trust Agreement (Pseg Funding Trust Ii), Trust Agreement (Pseg Funding Trust Ii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth hereinherein except as required by the Delaware Statutory Trust Act. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 3807(a) of the Delaware Business Statutory Trust Act.
Appears in 4 contracts
Sources: Trust Agreement (Lincoln National Corp), Trust Agreement (Lincoln National Corp), Trust Agreement (Metro Capital Trust V)
Declaration of Trust. The exclusive purposes and functions of the Trust are to (a) to issue and sell Trust Securities and Securities, (b) use the proceeds from such the sale of Trust Securities to acquire the Debentures; Junior Subordinated Debt Securities, (c) receive payments to be made with respect to the Junior Subordinated Debt Securities, and (bd) to engage in only those other activities necessary, advisable necessary or incidental theretothereto such as registering the transfer of the Capital Securities. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 4 contracts
Sources: Declaration of Trust (Highlands Capital Trust I), Declaration of Trust (Resource Capital Trust I), Declaration of Trust (Southern Financial Capital Trust I)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; (b) to make distributions as provided herein; (c) to enter into the agreements, documents, and instruments necessary to accomplish (a) and (b); and (d) to engage in those activities necessary, advisable or incidental thereto. The Depositor hereby appoints appoints, or confirms the appointment of, as the case may be, the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept accept, or confirm their acceptance, as the case may be, of such appointmentappointments. The Property Trustee hereby declares that it shall hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 Resident Trustee shall not be entitled to exercise any powers, nor shall the Delaware Resident Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Resident Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the residency requirements of Section 3807 applicable sections of the Delaware Business Trust Act.
Appears in 4 contracts
Sources: Trust Agreement (San Rafael Bancorp), Trust Agreement (United Bancorporation of Alabama Inc), Trust Agreement (Enterprise Financial Services Corp)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Linda Malone and Wayne Boston as trustees of the Trust, to have all the rights▇▇▇ ▇▇▇▇▇▇, powers and power▇ ▇▇▇ duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 4 contracts
Sources: Trust Agreement (Gulf Power Capital Trust Ii), Trust Agreement (Gulf Power Capital Trust Iv), Trust Agreement (Gulf Power Capital Trust Ii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; and Debentures in accordance with the terms of applicable Merger Agreement, (b) to distribute the Trust's income as provided in this Trust Agreement and (c) to engage in only those other activities necessary, advisable necessary or incidental thereto. The Trust shall not borrow money, issue debt or reinvest proceeds derived from investments, mortgage or pledge any of its assets or otherwise undertake (or permit to be undertaken) any activity that would cause the Trust not to be classified for United States Federal income tax purposes as a grantor trust. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 4 contracts
Sources: Merger Agreement (Capital Senior Living Corp), Merger Agreement (Ilm Ii Senior Living Inc /Va), Merger Agreement (Capital Senior Living Corp)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act and for taking such actions as are required to be taken by a Delaware trustee under the Delaware Business Trust Act.
Appears in 4 contracts
Sources: Trust Agreement (Hl&p Capital Trust I), Trust Agreement (Hl&p Capital Trust Iv), Trust Agreement (Hl&p Capital Trust Iv)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; Debt Securities, and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 3 contracts
Sources: Trust Agreement (Atlas Air Capital Iii), Trust Agreement (Atlas Air Capital Iii), Trust Agreement (Atlas Air Capital Iii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; and , (b) to distribute the Trust's income as provided in this Trust Agreement and (c) to engage in only those other activities necessary, advisable necessary or incidental thereto. The Trust shall not borrow money, issue debt or reinvest proceeds derived from investments, mortgage or pledge any of its assets or otherwise undertake (or permit to be undertaken) any activity that would cause the Trust not to be classified for United States Federal income tax purposes as a grantor trust. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 3 contracts
Sources: Trust Agreement (Newfield Financial Trust Ii), Trust Agreement (Pioneer Standard Electronics Inc), Trust Agreement (Newell Financial Trust I)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; Notes, and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth hereinherein except as required by the Delaware Business Trust Act. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 3807(a) of the Delaware Business Trust Act.
Appears in 3 contracts
Sources: Trust Agreement (Trenwick America Capital Trust Iii), Trust Agreement (Trenwick America Capital Trust Iii), Trust Agreement (Trenwick America Capital Trust Iii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, responsibilities of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 3 contracts
Sources: Trust Agreement (Chubb Capital Trust Iii), Trust Agreement (Chubb Capital Trust Iii), Trust Agreement (Chubb Capital Trust Iii)
Declaration of Trust. The exclusive purposes and functions of the Issuer Trust are (a) to issue and sell Trust Securities and Securities, (b) to use the proceeds from such sale to acquire the Debentures; , and (bc) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Issuer Trustees 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 hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the SecurityholdersIssuer 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, responsibilities of the Property Trustee or the Administrative Trustees, or any of the duties and responsibilities of the Issuer Trustees generally, set forth herein. The Delaware Trustee shall be one of the Trustees trustees of the Issuer Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 3807(a) of the Delaware Business Statutory Trust Act and for taking such actions as are required to be taken by a Delaware trustee under the Delaware Statutory Trust Act.
Appears in 3 contracts
Sources: Trust Agreement (Marshall & Ilsley Corp/Wi/), Trust Agreement (M&i Capital Trust C), Trust Agreement (South Financial Group Inc)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; Debt Securities, and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor Sponsor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein, except as required by the Delaware Business Trust Act. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 3807(a) of the Delaware Business Trust Act.
Appears in 3 contracts
Sources: Trust Agreement (Idacorp Trust Iii), Trust Agreement (Covanta Capital Trust Iii), Trust Agreement (Idacorp Trust Iii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; and , (b) to distribute the Trust's income as provided in this Trust Agreement and (c) to engage in only those other activities necessary, advisable necessary or incidental thereto. The Trust shall not borrow money, issue debt or reinvest proceeds derived from investments, mortgage or pledge any of its assets or otherwise undertake (or permit to be undertaken) any activity that would cause the Trust not to be classified for United States Federal income tax purposes as a grantor trust. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the SecurityholdersTrust and the Security 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative other Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 3 contracts
Sources: Trust Agreement (Dayton Superior Capital Trust), Trust Agreement (Merry Land Capital Trust), Trust Agreement (Merry Land Properties Inc)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in only those other activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ III, and S.L. Love as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, responsibilities of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 (S)3807 of the Delaware Business Trust Act. The Delaware Trustee, as the trustee under the Original Trust Agreement, has filed the Certificate of Trust of the Trust with the office of the Secretary of State of the State of Delaware, a copy of which is attached hereto as Exhibit A, and such filing is hereby confirmed and ratified.
Appears in 3 contracts
Sources: Trust Agreement (Duke Capital Financing Trust Vi), Trust Agreement (Duke Capital Financing Trust Vi), Trust Agreement (Duke Capital Financing Trust Vi)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Wayne Boston and Richard A. Childs as trustees of the Trust, to have all hav▇ ▇▇▇ the rights, powers and ▇▇▇▇▇▇ ▇▇d duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 3 contracts
Sources: Trust Agreement (Southern Co), Trust Agreement (Savannah Electric & Power Co), Trust Agreement (Southern Co Capital Trust Vii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Junior Subordinated Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the SecurityholdersSecurity 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 3 contracts
Sources: Trust Agreement (Spectrum Capital Trust I), Trust Agreement (Fw Capital I), Trust Agreement (Spectrum Capital Trust Ii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act. This Trust Agreement shall constitute the governing instrument of the Trust.
Appears in 3 contracts
Sources: Trust Agreement (Silicon Valley Bancshares), Trust Agreement (Bancfirst Corp /Ok/), Trust Agreement (Bancfirst Corp /Ok/)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use in consideration for receipt of the proceeds from such sale to acquire the Convertible Debentures; , and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, Trust to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the SecurityholdersTrust 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 3807(a) of the Delaware Business Statutory Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Omnicare Inc), Trust Agreement (Omnicare Capital Trust Ii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Judy M. Anderson and Wayne Boston as trustees of the Trust, to have all the rightshav▇ ▇▇▇ ▇▇▇ ▇▇▇▇▇▇, powers and pow▇▇▇ ▇nd duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Georgia Power Capital Trust Vi), Trust Agreement (Georgia Power Capital Trust Vi)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire invest in the Debentures; Debentures and (b) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Riggs Capital Ii), Trust Agreement (Riggs National Corp)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, and as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Southern Co Capital Trust Vii), Trust Agreement (Southern Co Capital Trust Vii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, ▇▇▇▇▇ ▇▇▇▇▇▇ and ▇▇▇▇▇ Boston as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Gulf Power Capital Trust V), Trust Agreement (Gulf Power Co)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein, except as required by the Delaware Business Trust Act. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 3807(a) of the Delaware Business Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Associates First Capital Iii), Trust Agreement (Applied Power Capital Trust Ii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and Securities, (b) to use the proceeds from such sale to acquire the Debentures; Debentures and (bc) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the SecurityholdersTrust 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Gentiva Health Services Inc), Trust Agreement (Caremark Rx Inc)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and Securities, (b) to use the proceeds from such sale to acquire the Debentures; , and (bc) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (J P Morgan Chase Capital X), Trust Agreement (CNB Capital Trust I)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and Securities, (b) to use the proceeds from such sale to acquire the Debentures; Debentures and (bc) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Susquehanna Bancshares Inc), Trust Agreement (Susquehanna Bancshares Inc)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Junior Subordinated Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Community First Bankshares Inc), Trust Agreement (Community First Bankshares Inc)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Judy M. Anderson and Wayne Boston as trustees of the Trust, to have all the rights▇▇▇ ▇▇▇ ▇▇▇▇▇▇, powers and powe▇▇ ▇▇d duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Georgia Power Capital Trust Vi), Trust Agreement (Georgia Power Capital Trust Vii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; Subordinated Debt Securities, and (b) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 2 contracts
Sources: Declaration of Trust and Trust Agreement (Willamette Industries Inc), Declaration of Trust and Trust Agreement (Willamette Industries Inc)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust property upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein, except as required by the Delaware Business Trust Act. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 3807(a) of the Delaware Business Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Empire District Electric Trust Ii), Trust Agreement (Wisconsin Energy Corp)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; and , (b) to distribute the Trust's income as provided in this Trust Agreement and (c) to engage in only those other activities necessary, advisable necessary or incidental thereto. The Trust shall not borrow money, issue debt or reinvest proceeds derived from investments, pledge any of its assets or otherwise undertake (or permit to be undertaken) any activity that would cause the Trust not to be classified for United States Federal income tax purposes as a grantor trust. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Host Marriott Corp/Md), Trust Agreement (Big Flower Holdings Inc)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in only those other activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ III, and S.L. Love as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, responsibilities of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act. The Delaware Trustee, as the trustee under the Original Trust Agreement, has filed the Certificate of Trust of the Trust with the office of the Secretary of State of the State of Delaware, a copy of which is attached hereto as Exhibit A, and such filing is hereby confirmed and ratified.
Appears in 2 contracts
Sources: Trust Agreement (Duke Energy Capital Trust V), Trust Agreement (Duke Energy Capital Trust Iii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Issuer Trustees as trustees of the 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 hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the SecurityholdersTrust and the Holders. The Administrative Trustees Administrators shall have all rights, powers and only those ministerial duties set forth herein and in accordance with applicable law with respect to accomplishing the purposes of the TrustTrust and shall not be trustees or fiduciaries with respect to the Trust or the Holders. The Property Trustee shall have the right and power to perform those duties assigned to the Administrators. 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 or the Administrative Trustees Administrators set forth herein, except as required by the Delaware Business Trust Act. The Delaware Trustee shall be one of the Trustees trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 3807(a) of the Delaware Business Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Onb Capital Trust Iv), Trust Agreement (HCC Capital Trust Ii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Janice G. Wolfe and Wayne Boston as trustees of the Trust, to have all the rights▇▇▇ ▇▇▇ ▇▇▇▇▇▇, powers and powe▇▇ ▇▇d duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Georgia Power Capital Trust X), Trust Agreement (Georgia Power Capital Trust X)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Janice G. Wolfe and Wayne Boston as trustees of the Trust, to have all the rights▇▇▇ ▇▇▇ ▇▇▇▇▇▇, powers and pow▇▇▇ ▇nd duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Georgia Power Co), Trust Agreement (Georgia Power Capital Trust XI)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Wayne Boston and Richard A. Childs as trustees of the Trust, to have all the ▇▇▇ ▇he rights, powers and p▇▇▇▇▇ ▇▇▇ duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Southern Co Capital Trust Ii), Trust Agreement (Southern Co Capital Trust I)
Declaration of Trust. The exclusive purposes and functions of the Issuer Trust are (a) to issue and sell Trust Securities and to use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Issuer Trustees 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 hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the SecurityholdersIssuer Trust and the Holders. The Administrative Trustees Administrators shall have all rights, powers and only those ministerial duties set forth herein and in accordance with applicable law with respect to accomplishing the purposes of the TrustIssuer Trust and, to the fullest extent permitted by law, shall not be trustees or fiduciaries with respect to the Issuer Trust or the Holders. The Property Trustee shall have the power to perform those duties assigned to the Administrators. 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 or the Administrative Trustees Administrators set forth herein. The Delaware Trustee shall be one of the Issuer Trustees of the Issuer Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act and for taking such actions as are required to be taken by a Delaware Trustee under the Delaware Business Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Keycorp Institutional Capital B), Trust Agreement (Keycorp Institutional Capital A)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Terry A. Davis and Wayne Boston as trustees of the Trust, to have all the rights▇▇▇ ▇▇▇ ▇▇▇▇▇▇, powers and pow▇▇▇ ▇nd duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Gulf Power Co), Trust Agreement (Gulf Power Co)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Mellon Financial Corp), Trust Agreement (Schwab Charles Corp)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Subordinated Debt Securities, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, [Individual], [Individual] and [Individual] as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 3807(a) of the Delaware Business Statutory Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Omnicare Capital Trust Iii), Trust Agreement (NCS of Illinois Inc)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale Warrants and to acquire the Junior Subordinated Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Air T Inc), Trust Agreement (Air T Funding)
Declaration of Trust. The exclusive purposes and functions of -------------------- the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Abc Bancorp Capital Trust I), Trust Agreement (Abc Bancorp Capital Trust I)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Wayne Boston and Richard A. Childs as trustees of the Trust, to have all ha▇▇ ▇▇l the rights, powers and ▇▇▇▇▇▇ ▇nd duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (Southern Co Capital Trust Vii), Trust Agreement (Southern Co)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable or incidental theretothereto (such as registering the transfer of the Trust Securities). The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 2 contracts
Sources: Trust Agreement (WSFS Financial Corp), Trust Agreement (CFC Preferred Trust)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Ann Estes and Wayne Boston as trustees of the Trust, to have all the rightsth▇ ▇▇▇▇▇▇, powers and powe▇▇ ▇▇d duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Sources: Trust Agreement (Mississippi Power Capital Trust Ii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; and (b) to engage in those activities necessary, advisable or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.forth
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Judy M. Anderson and Wayne Boston as trustees of the Trust, to have all the rights▇▇ ▇▇▇▇ ▇▇▇ ▇▇e rig▇▇▇, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Sources: Trust Agreement (Georgia Power Co)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein, except as required by the Delaware Statutory Trust Act. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 3807(a) of the Delaware Business Statutory Trust Act.
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Preferred Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Sources: Trust Agreement (GBB Capital I)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Linda G. Malone, and Wayne Boston as trustees of the Trust, to have all the rightshav▇ ▇▇▇ ▇▇▇ ▇▇▇▇▇s, powers and pow▇▇▇ ▇nd duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 1 contract
Sources: Trust Agreement (Gulf Power Co)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; and , (b) to distribute the Trust's income as provided in this Trust Agreement and (c) to engage in only those other activities necessary, advisable necessary or incidental thereto. The Depositor Trust shall not borrow money, issue debt or reinvest proceeds derived from investments, pledge any of its assets or otherwise undertake (or permit to be undertaken) any activity that would cause the Trust not to be classified for United States Federal income tax purposes as a grantor trust. The Sponsor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. The Administrative Regular 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Regular Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or Trustee, the Administrative Trustees or the Trustees generally set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in only those other activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, and ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, responsibilities of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act. The filing by the Delaware Trustee, as the trustee under the Original Trust Agreement, of the Certificate of Trust of the Trust's with the office of the Secretary of State of the State of Delaware, a copy of which is attached hereto as Exhibit A, is hereby confirmed and ratified.
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.the
Appears in 1 contract
Sources: Trust Agreement (American Coin Merchandising Trust Iv)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; and (b) to engage in those activities necessary, advisable or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the SecurityholdersHolders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and Securities, (b) to use the proceeds from such sale to acquire the Debentures; Series A Subordinated Debentures and (bc) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and to use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the SecurityholdersTrust and the Holders. The Administrative Trustees Administrators shall have all rights, powers and only those ministerial duties set forth herein and in accordance with applicable law with respect to accomplishing the purposes of the Trust and, to the fullest extent permitted by law, shall not be trustees or fiduciaries with respect to the Trust. The Property Trustee shall have the power to perform those duties assigned to the Administrators. 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 or the Administrative Trustees Administrators set forth herein. The Delaware Trustee shall be one of the Trustees trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Sources: Trust Agreement (First Union Institutional Capital Ii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and Securities, (b) to use the proceeds from such sale to acquire the Debentures; , and to hold and dispose of the Debentures as contemplated herein, and (bc) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and Securities, (b) to use the proceeds from such sale to acquire the Debentures; Debentures and (bc) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act and taking such actions as are required to be taken by the Delaware Trustee under the Delaware Business Trust Act.
Appears in 1 contract
Sources: Trust Agreement (Integon Capital I)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Linda Malone and Wayne Boston as trustees of the Trust, to have all the rights▇▇▇▇ ▇▇▇ ▇▇▇ righ▇▇, powers ▇owers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale Warrants and to acquire the Junior Subordinated Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.. 4821-9020-5592, v. 11
Appears in 1 contract
Sources: Trust Agreement (Air T Inc)
Declaration of Trust. The exclusive purposes and functions -------------------- of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; and , (b) to distribute the Trust's income as provided in this Trust Agreement and (c) to engage in only those other activities necessary, advisable necessary or incidental thereto. The Trust shall not borrow money, issue debt or reinvest proceeds derived from investments, pledge any of its assets or otherwise undertake (or permit to be undertaken) any activity that would cause the Trust not to be classified for United States federal income tax purposes as a grantor trust. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Issuer Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable necessary or incidental thereto. The Issuer Trust intends to maintain its status as a grantor trust for United States Federal income tax purposes. The Depositor hereby appoints the Issuer Trustees 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 hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the SecurityholdersIssuer Trust and the Holders. The Administrative Trustees shall have all rights, powers 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 or the Administrative Trustees, or any of the duties and responsibilities of the Issuer Trustees generally, set forth herein. The Delaware Trustee shall be one of the Trustees trustees of the Issuer Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act and for taking such actions as are required to be taken by a Delaware trustee under the Delaware Statutory Trust Act.
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. The Administrative Trustees shall have all rights, powers and only those ministerial duties set forth herein and in accordance with applicable law with respect to accomplishing the purposes of the TrustTrust and shall not be trustees or fiduciaries with respect to the Trust or the Securityholders. The Property Trustee shall have the right, but shall not be obligated except as provided in Section 2.7(a)(ii)(J), to perform those duties assigned to the Administrative Trustees. 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 or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Sources: Trust Agreement (Pmi Group Inc)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; and , (b) to distribute the Trust's income as provided in this Trust Agreement and (c) to engage in only those other activities necessary, advisable necessary or incidental thereto. The Trust shall not borrow money, issue debt or reinvest proceeds derived from investments, mortgage or pledge any of its assets or otherwise undertake (or permit to be undertaken) any activity that would cause the Trust not to be classified for United States Federal income tax purposes as a grantor trust. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative other Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and Securities, (b) to use the proceeds from such sale to acquire the Debentures; Subordinated Notes and (bc) to engage in those activities necessary, advisable necessary or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Sources: Trust Agreement (Ingersoll Rand Co)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Judy M. Anderson and Wayne Boston as trustees of the Trust, to have all the rightsal▇ ▇▇▇ ▇▇▇▇▇▇, powers and duties ▇▇wers ▇▇▇ ▇uties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Sources: Trust Agreement (Alabama Power Co)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints the Trustees as trustees each of the TrustBank, the Delaware Bank, Wayne Boston and Richard A. Childs ▇▇ ▇▇ustees of th▇ ▇▇▇▇▇, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and - sell Trust Securities and use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable convenient or - incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
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Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and to use the proceeds from such sale to acquire the Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the SecurityholdersTrust and the Holders. The Administrative Trustees Administrators shall have all rights, powers and only those ministerial duties set forth herein and in accordance with applicable law with respect to accomplishing the purposes of the Trust and shall not be trustees or fiduciaries with respect to the Trust. The Property Trustee shall have the power to perform those duties assigned to the Administrators. 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 or the Administrative Trustees Administrators set forth herein. The Delaware Trustee shall be one of the Trustees trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Sources: Trust Agreement (First Union Corp)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; and , (b) to distribute the Trust's income as provided in this Declaration of Trust, and (c) to engage in only those other activities necessary, advisable necessary or incidental thereto. The Trust shall not borrow money, issue debt or reinvest proceeds derived from investments, pledge any of its assets or otherwise undertake (or permit to be undertaken) any activity that would cause the Trust not to be classified for United States federal income tax purposes as a grantor trust. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇ Boston as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Sources: Trust Agreement (Georgia Power Co)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees as trustees of Bank, the Delaware Bank, Vicki L. Pierce and Way▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇ustee▇ ▇▇ the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
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Declaration of Trust. The exclusive purposes and functions of -------------------- the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the DebenturesDebentures and hold, transfer, sell, or otherwise dispose of the Debentures as provided herein; and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
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Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Wayne Boston and Sam H. Dabbs, Jr. as trustees of the Trust, to have ▇▇ ▇▇ve all the rightsr▇▇▇▇▇, powers and ▇▇▇▇▇▇ ▇▇▇ duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Sources: Trust Agreement (Southern Co)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Junior Subordinated Debentures; , and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 1 contract
Sources: Trust Agreement (Air T Inc)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Vicki L. Pierce and Wayne Boston as trustees of the Trust, to have all the rightst▇ ▇▇▇▇ ▇▇▇ ▇▇▇ right▇, powers ▇▇wers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Statutory Trust Act.
Appears in 1 contract
Sources: Trust Agreement (Mississippi Power Capital Trust Iii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Vicki Pierce and Wayne Boston as trustees of the Trust, to have all the rightsal▇ ▇▇▇ ▇▇▇▇▇▇, powers and pow▇▇▇ ▇nd duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Sources: Trust Agreement (Mississippi Power Capital Trust Iii)
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Bank, the Delaware Bank, Linda Malone and Wayne Boston as trustees of the Trust, to have all the rightsha▇▇ ▇▇▇ ▇▇▇ ▇ights, powers ▇▇▇ers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Sources: Trust Agreement (Gulf Power Co)
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; and , (b) to distribute the Trust's income as provided in this Trust Agreement and (c) to engage in only those other activities necessary, advisable necessary or incidental thereto. The Trust shall not borrow money, issue debt or reinvest proceeds derived from investments, mortgage or pledge any of its assets or otherwise undertake (or permit to be undertaken) any activity that would cause the Trust not to be classified for United States federal income tax purposes as a grantor trust. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire the Debentures; (b) to make distributions as provided herein; (c) to enter into the agreements, documents, and instruments necessary to accomplish (a) and (b); and (d) to engage in those activities necessary, advisable or incidental thereto. The Depositor hereby appoints appoints, or confirms the appointment of, as the case may be, the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept accept, or confirm their acceptance, as the case may be, of such appointmentappointments. The Property Trustee hereby declares that it shall hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Securityholders. 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 Resident Trustee shall not be entitled to exercise any powers, nor shall the Delaware Resident Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Resident Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the residency requirements of Section 3807 applicable sections of the Delaware Business Statutory Trust Act.
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Trust are (ai) to issue and sell the Trust Securities and use the proceeds from such sale to acquire the Debentures; Junior Subordinated Notes, and (bii) to engage in those activities necessary, advisable incidental, appropriate or incidental convenient thereto. The Depositor hereby appoints each of the Trustees Property Trustee, the Delaware Bank, Nancy Frankenhauser and Wayne Boston as trustees of the Trust, to have all the rightshav▇ ▇▇▇ ▇▇▇ ▇▇▇▇▇▇, powers and ▇owers ▇▇▇ duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract
Declaration of Trust. The exclusive purposes and functions of the Trust are (a) to issue and sell Trust Securities and use the proceeds from such sale to acquire invest in the Debentures; Debentures and (b) to engage in those activities necessary, advisable convenient or incidental thereto. The Depositor hereby appoints the Trustees as trustees of the Trust, to have all the rights, powers and duties to the extent set forth herein, and the Trustees hereby accept such appointment. The Property Trustee hereby declares that it shall will hold the Trust Property in trust upon and subject to the conditions set forth herein for the benefit of the Trust and the Securityholders. The Administrative Trustees shall have all of the 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 shall not be entitled to exercise any powers, nor shall the Delaware Trustee have any of the duties and responsibilities, of the Property Trustee or the Administrative Trustees set forth herein. The Delaware Trustee shall be one of the Trustees of the Trust for the sole and limited purpose of fulfilling the requirements of Section 3807 of the Delaware Business Trust Act.
Appears in 1 contract