Examples of Cryptocurrency Entitlement in a sentence
The Bonds will be delivered via book-entry through the clearing system and its account holding banks.In the secondary market Bonds can be purchased exclusively with fiat.Method of determination of the Issue Price: The issue price for Authorised Participants is equal to the Cryptocurrency Entitlement plus a subscription fee.
However, each Bondholder may terminate his Bonds against payment of the Cryptocurrency Entitlement (or against payment of USD if a Bondholder is prevented from receiving the Cryptocurrency due to legal or regulatory reasons).
If a Bondholder exercises his Put Option vis-á-vis the Issuer or vis-á-vis an Authorised Participant an exercise fee in addition to the Upfront Redemption Fee (where applicable) in an amount equal to 1.00 percent of the Cryptocurrency Entitlement for each Bond in relation to which the Put Option is exercised will be charged (the "Exercise Fee").
If a Split occurs and leads to the creation of two or more cryptocurrencies, each Bond shall thereafter represent a claim on a group of post-Split cryptocurrencies that corresponds to such Cryptocurrency Entitlement as each Bond represented before the Split.
If a Bondholder decides to demand redemption directly from the Issuer and, irrespective of whether the repayment is made in the relevant Cryptocurrency or units of the underlying Cryptocurrencies comprising the Basket or in USD, the Issuer may charge a fee of up to 1.00 percent of the Cryptocurrency Entitlement (as specified in the relevant Final Terms) for each Bond in relation to which the Put Option is exercised (lower fees apply for redemptions by the Bondholders who are Authorised Participants).
If an Event of Default occurs and is continuing, each Bondholder shall be entitled to declare all but not some of its Bonds due and payable by submitting a Termination Notice (pursuant to sub-paragraph (2) below) to the Issuer for its entire claim arising from the Bonds and demand (subject to sub-paragraph (3) below) an immediate payment of the Cryptocurrency Entitlement per Bond.
In order for a Bondholder to receive the Cryptocurrency Entitlement, such Bondholder needs to (i) submit a duly completed Mandatory Redemption Form (obtainable from the Website), including any documents requested in such form for verification of the Bondholder’s identity; and(ii) transfer its Bonds to the Issuance Account free of payment.
The Bonds may only be subscribed or purchased by Authorised Participants from the Issuer in the primary market against transfer of a number of units of the Cryptocurrency corresponding to the Cryptocurrency Entitlement (as of the date of the subscription or purchase in the primary market) per Bond to be subscribed or purchased.
If Bonds are redeemed in USD, the redemption amount will be equal to the proceeds of sale of the Cryptocurrency Entitlement using the Cryptocurrency Auction Procedure (as defined below) ("1.3.3. Auction cannot be carried out due tomissing participants or insufficient bids"), if such procedure results in a successful sale.
If Bonds are redeemed in USD, the redemption amount will be equal to the proceeds of sale of the Cryptocurrency Entitlement using the Cryptocurrency Auction Procedure (as defined below) ("1.3.3. Auction cannot be carried out due to missing participants or insufficient bids"), if such procedure results in a successful sale.