Common use of Limitations Relating to Size of Blocks Clause in Contracts

Limitations Relating to Size of Blocks. Notwithstanding any other -------------------------------------- provision of this Trust Agreement, Preferred Securities may only be issued, transferred or exchanged in blocks representing not less than $100,000 in aggregate Liquidation Amount of Preferred Securities. Any transfer, exchange or other disposition of Preferred Securities in contravention of this Section 5.5(b)(vi) shall be deemed to be void and of no legal effect whatsoever, any such transferee shall be deemed not to be the Holder or Owner of such Preferred Security for any purpose, including but not limited to the receipt of distributions on such Preferred Securities, and such transferee shall be deemed to have no interest whatsoever in such Preferred Securities.

Appears in 1 contract

Sources: Trust Agreement (Riggs National Corp)

Limitations Relating to Size of Blocks. Notwithstanding any other -------------------------------------- provision of this Trust Agreement, Preferred Securities may only be issued, transferred or exchanged in blocks representing having a Liquidation Amount of not less than $100,000 in aggregate Liquidation Amount of Preferred Securities100,000. Any transfer, exchange or other disposition of Preferred Securities in contravention of this Section 5.5(b)(vi5.5(b)(v) shall be deemed to be void and of no legal effect whatsoever, any such transferee shall be deemed not to be the Holder or Owner of such Preferred Security for any purpose, including but not limited to the receipt of distributions on such Preferred Securities, and such transferee shall be deemed to have no interest whatsoever in such Preferred Securities.

Appears in 1 contract

Sources: Trust Agreement (Bankunited Financial Corp)