Common use of Dissolution of Trust Clause in Contracts

Dissolution of Trust. (a) The Trust shall dissolve: (i) when all of the Trust Securities shall have been called for redemption and the amounts necessary for redemption thereof shall have been paid to the Holders in accordance with the terms of the Trust Securities; or (ii) upon a final distribution in respect of the Preferred Securities and such distribution has been delivered to the Holders. (b) As soon as is practicable after the occurrence of an event referred to in Section 8.1(a), and upon completion of the winding up of the Trust in accordance with Section 8.2, the Regular Trustees shall prepare and file a certificate of cancellation with the Secretary of State of the State of Delaware. This Trust Agreement will terminate upon the effective time and date of the certificate of cancellation filed with the Secretary of State of the State of Delaware. Upon termination of this Trust Agreement and the Trust in accordance with the foregoing, the respective obligations and responsibilities of the Trustees and the Grantor shall terminate.