Additional Agreements of the Parties. 4.1 For the avoidance of doubt, the last sentence of the first paragraph of 6(e) of the Agreement shall not apply with respect to this Transaction. 4.2 CSNY agrees that in the event of the bankruptcy of Counterparty, CSNY shall not have rights or assert a claim that is senior in priority to the rights and claims available to the shareholders of the common stock of Counterparty; provided, however, that nothing herein shall limit or shall be deemed to limit CSNY's right to pursue remedies in the event of a breach by Counterparty of its obligations and agreements with respect to this Transaction; and provided further that in pursuing a claim against Counterparty in the event of a bankruptcy, insolvency or dissolution with respect to Counterparty, CSNY's rights hereunder shall rank on a parity with the rights of a holder of Shares enforcing similar rights under a contract involving Xxxxxx. 4.3 The parties acknowledge that this Transaction is not secured by any collateral that would otherwise secure the obligations of Counterparty hereunder. 4.4 The parties intend that (A) each of the Agreement and this Confirmation is a "securities contract," as such term is defined in Section 741(7) of the Bankruptcy Code (Title 11 of the United States Code) (the "Bankruptcy Code"), with respect to which each payment and delivery hereunder or thereunder or in connection herewith or therewith is a "settlement payment" within the meaning of Sections 362 and 546 of the Bankruptcy Code, (B) the rights given to CSNY under the Agreement and under this Confirmation upon the occurrence of an Event of Default constitute a "contractual right" to cause the liquidation, termination or acceleration of, and to offset or net out termination values or payment amounts and set off mutual debts and claims under or in connection with, a "securities contract" as such terms are used in Sections 555, 561, and 362(b)(6) of the Bankruptcy Code, and (C) CSNY is entitled to the protections afforded by, among other sections, Sections 362(b)(6), 362(o), 546(e), 555 and 561 of the Bankruptcy Code.
Appears in 2 contracts
Samples: Accelerated Share Repurchase Transaction (Federated Department Stores Inc /De/), Variable Term Accelerated Share Repurchase Transaction (Federated Department Stores Inc /De/)
Additional Agreements of the Parties. 4.1 For the avoidance of doubt, the last sentence of the first paragraph of 6(e) of the Agreement shall not apply with respect to this Transaction.
4.2 CSNY CSI agrees that in the event of the bankruptcy of Counterparty, CSNY CSI shall not have rights or assert a claim that is senior in priority to the rights and claims available to the shareholders of the common stock of Counterparty; provided, however, that nothing herein shall limit or shall be deemed to limit CSNY's CSI’s right to pursue remedies in the event of a breach by Counterparty of its obligations and agreements with respect to this Transaction; and provided further that in pursuing a claim against Counterparty in the event of a bankruptcy, insolvency or dissolution with respect to Counterparty, CSNY's CSI’s rights hereunder shall rank on a parity with the rights of a holder of Shares enforcing similar rights under a contract involving XxxxxxShares.
4.3 The parties acknowledge that this Transaction is not secured by any collateral that would otherwise secure the obligations of Counterparty hereunder.
4.4 The parties intend agree and acknowledge that (A) each of the Agreement and this Confirmation CSI is a "securities contract“financial institution," as such term is defined in Section 741(7” “swap participant” and/or “financial participant” within the meaning of Sections 101(22), 101(53C) and 101(22A) of Title 11 of the Bankruptcy Code (Title 11 of the United States Code) (the "“Bankruptcy Code"”). The parties hereto further agree and acknowledge (A) that this Confirmation is (i) a “securities contract,” as such term is defined in Section 741(7) of the Bankruptcy Code, with respect to which each payment and delivery hereunder or thereunder or in connection herewith or therewith is a "“settlement payment" within the meaning of Sections 362 and 546 of the Bankruptcy Code, (B) the rights given to CSNY under the Agreement and under this Confirmation upon the occurrence of an Event of Default constitute a "contractual right" to cause the liquidation, termination or acceleration of, and to offset or net out termination values or payment amounts and set off mutual debts and claims under or in connection with, a "securities contract" ,” as such terms are used term is defined in Sections 555, 561, and 362(b)(6Section 741(8) of the Bankruptcy Code, and (Cii) CSNY a “swap agreement,” as such term is defined in Section 101(53B) of the Bankruptcy Code, with respect to which each payment and delivery hereunder is a “transfer,” as such term is defined in Section 101(54) of the Bankruptcy Code, and (B) that CSI is entitled to the protections afforded by, among other sections, Sections 362(b)(6), 362(o362(b)(17), 546(e), 546(g), 555 and 561 560 of the Bankruptcy Code.
Appears in 2 contracts
Samples: Variable Term Accelerated Share Repurchase Transaction (Silicon Image Inc), Variable Term Accelerated Share Repurchase Transaction (Enpro Industries, Inc)
Additional Agreements of the Parties. 4.1 For the avoidance of doubt, the last sentence of the first paragraph of 6(e) of the Agreement shall not apply with respect to this the Transaction.
4.2 CSNY Bank agrees that in the event of the bankruptcy of Counterparty, CSNY Bank shall not have rights or assert a claim that is senior in priority to the rights and claims available to the shareholders of the common stock of Counterparty; provided, however, that nothing herein shall limit or shall be deemed to limit CSNY's Bank’s right to pursue remedies in the event of a breach by Counterparty of its obligations and agreements with respect to this the Transaction; and provided further that in pursuing a claim against Counterparty in the event of a bankruptcy, insolvency or dissolution with respect to Counterparty, CSNY's Bank’s rights hereunder shall rank on a parity with the rights of a holder of Shares enforcing similar rights under a contract involving Xxxxxx.
4.3 The parties acknowledge that this the Transaction is not secured by any collateral that would otherwise secure the obligations of Counterparty hereunder.
4.4 The parties intend agree and acknowledge that (A) each of the Agreement and this Confirmation Bank is a "securities contract“financial institution," as such term is defined in Section 741(7” “swap participant” and/or “financial participant” within the meaning of Sections 101(22), 101(53C) and 101(22A) of Title 11 of the Bankruptcy Code (Title 11 of the United States Code) (the "“Bankruptcy Code"”). The parties hereto further agree and acknowledge (A) that this Confirmation is (i) a “securities contract,” as such term is defined in Section 741(7) of the Bankruptcy Code, with respect to which each payment and delivery hereunder or thereunder or in connection herewith or therewith is a "“settlement payment" within the meaning of Sections 362 and 546 of the Bankruptcy Code, (B) the rights given to CSNY under the Agreement and under this Confirmation upon the occurrence of an Event of Default constitute a "contractual right" to cause the liquidation, termination or acceleration of, and to offset or net out termination values or payment amounts and set off mutual debts and claims under or in connection with, a "securities contract" ,” as such terms are used term is defined in Sections 555, 561, and 362(b)(6Section 741(8) of the Bankruptcy Code, and (Cii) CSNY a “swap agreement,” as such term is defined in Section 101(53B) of the Bankruptcy Code, with respect to which each payment and delivery hereunder is a “transfer,” as such term is defined in Section 101(54) of the Bankruptcy Code, and (B) that Bank is entitled to the protections afforded by, among other sections, Sections 362(b)(6), 362(o362(b)(17), 546(e), 546(g), 555 and 561 560 of the Bankruptcy Code.
Appears in 1 contract
Samples: Variable Term Accelerated Share Repurchase Transaction (Amgen Inc)
Additional Agreements of the Parties. 4.1 For the avoidance of doubt, the last sentence of the first paragraph of 6(e) of the Agreement shall not apply with respect to this Transaction.
4.2 CSNY CSI agrees that in the event of the bankruptcy of Counterparty, CSNY CSI shall not have rights or assert a claim that is senior in priority to the rights and claims available to the shareholders of the common stock of Counterparty; provided, however, that nothing herein shall limit or shall be deemed to limit CSNY's CSI’s right to pursue remedies in the event of a breach by Counterparty of its obligations and agreements with respect to this Transaction; and provided further that in pursuing a claim against Counterparty in the event of a bankruptcy, insolvency or dissolution with respect to Counterparty, CSNY's CSI’s rights hereunder shall rank on a parity with the rights of a holder of Shares enforcing similar rights under a contract involving XxxxxxShares.
4.3 The parties acknowledge that this Transaction is not secured by any collateral that would otherwise secure the obligations of Counterparty hereunder.
4.4 The parties intend Each party agrees and acknowledges that (ACS is a “financial institution,” “swap participant” and “financial participant” within the meaning of Sections 101(22), 101(53C) each and 101(22A) of Title 11 of the Agreement and this Confirmation is a "securities contract," as such term is defined in Section 741(7) of the U.S. Bankruptcy Code (Title 11 of the United States Code) (the "“Bankruptcy Code"”). Each party further agrees and acknowledges (A) that this Confirmation is (i) a “securities contract,” as such term is defined in Section 741(7) of the Bankruptcy Code, with respect to which each payment and delivery hereunder or thereunder or in connection herewith or therewith is a "“settlement payment" within the meaning of Sections 362 and 546 of the Bankruptcy Code, (B) the rights given to CSNY under the Agreement and under this Confirmation upon the occurrence of an Event of Default constitute a "contractual right" to cause the liquidation, termination or acceleration of, and to offset or net out termination values or payment amounts and set off mutual debts and claims under or in connection with, a "securities contract" ,” as such terms are used term is defined in Sections 555, 561, and 362(b)(6Section 741(8) of the Bankruptcy Code, and (Cii) CSNY a “swap agreement,” as such term is defined in Section 101(53B) of the Bankruptcy Code, with respect to which each payment and delivery hereunder is a “transfer,” as such term is defined in Section 101(54) of the Bankruptcy Code, and (B) that CS is entitled to the protections afforded by, among other sections, Sections 362(b)(6), 362(o362(b)(17), 546(e), 546(g), 555 and 561 560 of the Bankruptcy Code.
Appears in 1 contract
Samples: Variable Term Collared Share Repurchase Transaction (Hartford Financial Services Group Inc/De)
Additional Agreements of the Parties. 4.1 For the avoidance of doubt, the last sentence of the first paragraph of 6(e) of the Agreement shall not apply with respect to this Transaction.
4.2 CSNY agrees that in the event of the bankruptcy Bankruptcy of Counterparty, CSNY shall not have rights or assert a claim that is senior in priority to the rights and claims available to the shareholders of the common stock of Counterparty; provided, however, that nothing herein shall limit or shall be deemed to limit CSNY's right to pursue remedies in the event of a breach by Counterparty of its obligations and agreements with respect to this Transaction; and provided further that in pursuing a claim against Counterparty in the event of a bankruptcy, insolvency or dissolution with respect to Counterparty, CSNY's rights hereunder shall rank on a parity with the rights of a holder of Shares enforcing similar rights under a contract involving XxxxxxShares.
4.3 The parties acknowledge that this Transaction is not secured by any collateral that would otherwise secure the obligations of Counterparty hereunder.
4.4 The parties intend that (A) each of for the Agreement and this Confirmation is Transaction hereunder to be a "securities contract," and a "swap agreement" as such term is defined in Section 741(7) of the Bankruptcy Code (Title 11 of the United States Code) (the "Bankruptcy Code"), with respect to which each payment ) and delivery hereunder or thereunder or in connection herewith or therewith is a "settlement payment" within the meaning of Sections 362 and 546 of the Bankruptcy Code, (B) the rights given to CSNY under the Agreement and under this Confirmation upon the occurrence of an Event of Default constitute a "contractual right" to cause the liquidation, termination or acceleration of, and to offset or net out termination values or payment amounts and set off mutual debts and claims under or in connection with, a "securities qualified financial contract" as such terms are used defined in Sections 555, 561the Federal Deposit Insurance Act ("FDIA"), and 362(b)(6) of for the Bankruptcy Code, and (C) CSNY is parties hereto to be entitled to the protections afforded by, among other sectionsSections, Sections 362(b)(6), 362(o)555, 546(e), 555 560 and 561 of the Bankruptcy CodeCode and Section 11(e)(8) of the FDIA, as applicable.
Appears in 1 contract
Samples: Accelerated Share Repurchase Transaction (Electronic Data Systems Corp /De/)