Auction Rate Securities. The Borrower (i) owns no auction rate securities or similar financial instruments directly or indirectly in any brokerage, securities account or other account created by or for the benefit of the Borrower; and (ii) has not created any standing or discretionary purchase order or directive with any brokerage account or broker service to purchase auction rate securities or similar financial instruments on behalf of the Borrower.
Auction Rate Securities. The Program Fee will be applied to certain closed-end funds and municipal bonds, which are bought and sold at auctions held at predetermined intervals. In addition to the Program Fee, WFA and its affiliates also receive a service charge or other compensation for participating in auctions of auction rate closed-end funds and municipal bonds. This service charge or other compensation, a portion of which may be paid to your financial professional, is described generally in the relevant prospectus or offering documents.
Auction Rate Securities. Company shall exercise its put rights with respect to its auction rate securities, as described in Company Designated SEC Reports.
Auction Rate Securities. For so long as the Obligations are outstanding, Borrower shall not hold directly or indirectly, purchase or create a purchase order or directive to purchase any auction rate securities or similar financial instruments regardless of whether such securities are to be held by Borrower or through one or more brokerage accounts.
Auction Rate Securities a security with a long term maturity which bears interest at a rate set in an auction process. Bankruptcy or Bankrupt – with respect to any Person, that (a) such Person (i) makes a general assignment for the benefit of creditors; (ii) files a voluntary bankruptcy petition; (iii) becomes the subject of an order for relief or is declared insolvent in any federal or state bankruptcy or insolvency proceedings; (iv) files a petition or answer seeking for such Person a reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any Law; (v) files an answer or other pleading admitting or failing to contest the material allegations of a petition filed against such Person in a proceeding of the type described in subclauses (i) through (iv) of this clause (a); or (vi) seeks, consents to, or acquiesces in the appointment of a trustee, receiver, or liquidator of such Person or of all or any substantial part of such Person’s properties; or (b) a proceeding seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any Law has been commenced against such Person, and sixty (60) Days have expired without dismissal thereof or with respect to which, without such Person’s consent or acquiescence, a trustee, receiver, or liquidator of such Person or of all or any substantial part of such Person’s properties has been appointed and sixty (60) Days have expired without the appointment’s having been vacated or stayed, or sixty (60) Days have expired after the date of expiration of a stay, if the appointment has not previously been vacated.
Auction Rate Securities. Company shall have obtained all requisite Regulatory Approvals in connection with the purchase or exchange by CLTIC and LTIC, or either of them, from or with LandAmerica 1031 Exchange Services, Inc., a Maryland corporation and a wholly owned Subsidiary of Company, of auction rate securities held by it as of the date hereof in an aggregate par amount of no more than $75,000,000 for an aggregate purchase price of no less than $60,000,000.
Auction Rate Securities. Notwithstanding anything in this Agreement to the contrary, the Collateral Agent and the Buyers shall permit the Company to obtain a loan (“Margin Loan”) against ARS held by the Company. The Company shall use its commercially reasonable best efforts to cause the lender for the Margin Loan to agree to a standard form of intercreditor agreement reasonably satisfactory to the Buyers. The Collateral Agent, for the benefit of the Buyers, shall continue to have a first priority security interest in the ARS prior to the consummation of a Margin Loan. After the consummation of a Margin Loan and after the execution of an intercreditor agreement between the Collateral Agent, for the benefit of the Buyers, and the creditor making the Margin Loan, the Collateral Agent, for the benefit of the Buyers, shall have a second priority security interest in the ARS, and hereby agrees to subordinate its security interest in the ARS to second position behind the lender of the Margin Loan, it being understood that such the collateral supporting the Margin Loan shall only include ARS deposited into the applicable account on or prior to the date of the making or drawing down of the Margin Loan and shall not include any other assets of the Company or any of its subsidiaries or affiliates unless otherwise agreed to by the Collateral Agent.”
Auction Rate Securities. The term “
Auction Rate Securities. The Program fee will be applied to certain closed-end funds and municipal bonds, which are bought and sold at auctions held at predetermined intervals. In addition to the Program fee, Introducing Firm and its affiliates also receive a service charge or other compensation for participating in auctions of auction rate closed-end funds and municipal bonds. This service charge or other compensation, a portion of which may be paid to Client's Financial Advisor, is described generally in the relevant prospectus or offering documents.
Auction Rate Securities. The following shall be added to the end of Section 5(b): “In accordance with the terms of the Rights Offering by UBS AG, which provides that UBS will offer to purchase Company’s ARS commencing June 30, 2010, the Company will exercise its right to sell its ARS to UBS AG as soon as permissible at a price equal to the original par value of such ARS. The proceeds from such sale shall be used to redeem this Note.”
