Book-Entry Environmental Trust Bonds. Unless the Series Supplement provides otherwise, all of the Environmental Trust Bonds shall be issued in Book-Entry Form, and the Issuer shall execute and the Indenture Trustee shall, in accordance with this Section 2.11 and the Issuer Order, authenticate and deliver one or more Global Environmental Trust Bonds, evidencing the Environmental Trust Bonds, which (a) shall be an aggregate original principal amount equal to the aggregate original principal amount of the Environmental Trust Bonds to be issued pursuant to the Issuer Order, (b) shall be registered in the name of the Clearing Agency therefor or its nominee, which shall initially be Cede & Co., as nominee for DTC, the initial Clearing Agency, (c) shall be delivered by the Indenture Trustee pursuant to such Clearing Agency’s or such nominee’s instructions and (d) shall bear a legend substantially to the effect set forth in Exhibit A. Each Clearing Agency designated pursuant to this Section 2.11 must, at the time of its designation and at all times while it serves as Clearing Agency hereunder, be a “clearing agency” registered under the Exchange Act and any other applicable statute or regulation. No Holder of Environmental Trust Bonds issued in Book-Entry Form shall receive a Definitive Environmental Trust Bond representing such Holder’s interest in any of the Environmental Trust Bonds, except as provided in Section 2.13. Unless (and until) certificated, fully registered Environmental Trust Bonds (the “Definitive Environmental Trust Bonds”) have been issued to the Holders pursuant to Section 2.13 or pursuant to the Series Supplement relating thereto:
Appears in 5 contracts
Samples: Indenture (WEPCo Environmental Trust Finance I, LLC), Indenture (WEPCo Environmental Trust Finance I, LLC), Indenture (WEPCo Environmental Trust Finance I, LLC)
