Preferred Securities Guarantee Agreement (2005)Full Document 

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PREFERRED SECURITIES GUARANTEE AGREEMENT

 

ST. PAUL TRAVELERS CAPITAL TRUST [II] [III] [IV] [V]

 

 

DATED AS OF            , 200  

 

 



 

TABLE OF CONTENTS

 

 

 

PAGE

ARTICLE I

 

DEFINITIONS AND INTERPRETATION

 

SECTION 1.1

Definitions and Interpretation

 

ARTICLE II

 

TRUST INDENTURE ACT

 

SECTION 2.1

Trust Indenture Act; Application

 

SECTION 2.2

Lists of Holders of Securities

 

SECTION 2.3

Reports by the Preferred Guarantee Trustee

 

SECTION 2.4

Periodic Reports to Preferred Guarantee Trustee

 

SECTION 2.5

Evidence of Compliance with Conditions Precedent

 

SECTION 2.6

Events of Default; Waiver

 

SECTION 2.7

Event of Default; Notice

 

SECTION 2.8

Conflicting Interests

 

ARTICLE III

 

POWERS, DUTIES AND RIGHTS OF PREFERRED GUARANTEE TRUSTEE

 

SECTION 3.1

Powers and Duties of the Preferred Guarantee Trustee

 

SECTION 3.2

Certain Rights of Preferred Guarantee Trustee

 

SECTION 3.3

Not Responsible for Recitals or Issuance of Guarantee

 

ARTICLE IV

 

PREFERRED GUARANTEE TRUSTEE

 

SECTION 4.1

Preferred Guarantee Trustee; Eligibility

 

SECTION 4.2

Appointment, Removal and Resignation of Preferred Guarantee Trustees

 

ARTICLE V

 

GUARANTEE

 

SECTION 5.1

Guarantee

 

SECTION 5.2

Waiver of Notice and Demand

 

SECTION 5.3

Obligations Not Affected

 

SECTION 5.4

Rights of Holders

 

SECTION 5.5

Guarantee of Payment

 

SECTION 5.6

Subrogation

 

SECTION 5.7

Independent Obligations

 

ARTICLE VI

 

LIMITATION OF TRANSACTIONS; SUBORDINATION

 

SECTION 6.1

Limitation of Transactions

 

SECTION 6.2

Ranking

 

ARTICLE VII

 

TERMINATION

 

SECTION 7.1

Termination

 

ARTICLE VIII

 

INDEMNIFICATION

 

SECTION 8.1

Exculpation

 

SECTION 8.2

Indemnification

 

ARTICLE IX

 

MISCELLANEOUS

 

SECTION 9.1

Successors and Assigns

 

SECTION 9.2

Amendments

 

SECTION 9.3

Notices

 

SECTION 9.4

Benefit

 

SECTION 9.5

Governing Law

 

 



 

CROSS-REFERENCE TABLE*

 

Section of
Trust Indenture Act
1939, as amended

 

Section of
Guarantee of
Agreement

 

310(a)

 

4.1

(a)

 

310(b

 

4.1

(c), 2.8

 

310(c)

 

Inapplicable

 

 

311(a)

 

2.2

(b)

 

311(b)

 

2.2

(b)

 

311(c)

 

Inapplicable

 

 

312(a)

 

2.2

(a)

 

312(b)

 

2.2

(b)

 

313

 

2.3

 

 

314(a)

 

2.4

 

 

314(b)

 

Inapplicable

 

 

314(c)

 

2.5

 

 

314(d)

 

Inapplicable

 

 

314(e)

 

1.1, 2.5, 3.2

 

 

314(f)

 

2.1, 3.2

 

 

315(a)

 

3.1

(d)

 

315(b)

 

2.7

 

 

315(c)

 

3.1

 

 

315(d)

 

3.1

(d)

 

316(a)

 

1.1, 2.6, 5.4

 

 

316(b)

 

5.3

 

 

316(c)

 

8.2

 

 

317(a)

 

Inapplicable

 

 

317(b)

 

Inapplicable

 

 

318(a)

 

2.1

(b)

 

318(b)

 

2.1

 

 

318(c)

 

2.1

(a)

 

 


*   This Cross-Reference Table does not constitute part of the Guarantee Agreement and shall not affect the interpretation of any of its terms or provisions.

 



 

PREFERRED SECURITIES GUARANTEE AGREEMENT

 

This GUARANTEE AGREEMENT (this “Preferred Securities Guarantee”), dated as of [          , 200 ], is executed and delivered by The St. Paul Travelers Companies, Inc., a Minnesota corporation (the “Guarantor”), and JPMorgan Chase Bank, N.A., as trustee (the “Preferred Guarantee Trustee”), for the benefit of the Holders (as defined herein) from time to time of the Preferred Securities (as defined herein) of St. Paul Travelers Capital Trust [II] [III] [IV] [V], a Delaware statutory trust (the “Issuer”).

 

WHEREAS, pursuant to an Amended and Restated Declaration of Trust (the “Declaration”), dated as of [          , 200 ], among the trustees of the Issuer named therein, the Guarantor, as sponsor, and the holders from time to time of undivided beneficial interests in the assets of the Issuer, the Issuer is issuing on the date hereof $[          ] aggregate liquidation preference of its [ ]% Preferred Securities (stated liquidation amount [$ ] per preferred security) (the “Preferred Securities”) representing preferred undivided beneficial interests in the assets of the Issuer and having the terms set forth in the Declaration;

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