Common use of Cancellation and/or Adjustment of Global Notes Clause in Contracts

Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or cancelled in whole and not in part, each such Global Note shall be retained and cancelled by the Trustee in accordance with Section 2.11 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note or for Definitive Notes, the aggregate principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, the aggregate principal amount of such other Global Note shall be increased accordingly and an endorsement shall be made on the “Schedule of Exchanges of Interests” in such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. Promptly following the termination of the Distribution Compliance Period, the Company shall cause the beneficial interests in the Regulation S Temporary Global Note to be exchanged for beneficial interests in the Regulation S Permanent Global Note pursuant to Applicable Procedures. The Company shall deliver to the Trustee an Authentication Order for the authentication of the Regulation S Permanent Global Note, an executed Regulation S Permanent Global Note, an Officers’ Certificate, and an Opinion of Counsel. Simultaneously with the authentication of the Regulation S Permanent Global Note, the Trustee will cancel the Regulation S Temporary Global Note.

Appears in 2 contracts

Samples: Indenture (Great Lakes Dredge & Dock CORP), Indenture (Great Lakes Dredge & Dock CORP)

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Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or cancelled canceled in whole and not in part, each such Global Note shall be returned to or retained and cancelled canceled by the Trustee in accordance with Section 2.11 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will shall take delivery thereof in the form of a beneficial interest in another Global Note or for Definitive Notes, the aggregate principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will shall take delivery thereof in the form of a beneficial interest in another Global Note, the aggregate principal amount of such other Global Note shall be increased accordingly and an endorsement shall be made on the “Schedule of Exchanges of Interests” in such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. Promptly following On any Interest Payment Date on which the termination Issuer pays PIK Interest (a “PIK Payment”), with respect to a Global Note, upon receipt of an Authentication Order, the Trustee shall increase the principal amount of such Global Note by an amount equal to the interest payable, rounded up to the nearest whole dollar, for the relevant interest period on the principal amount of such Global Note as of the Distribution Compliance Periodrelevant Record Date for such Interest Payment Date, to the Company credit of the Holders on such Record Date and an adjustment shall cause be made on the beneficial interests in books and records of the Regulation S Temporary Trustee with respect to such Global Note to reflect such increase. On any Interest Payment Date on which the Company makes a PIK Payment by issuing Definitive Notes (a “PIK Note”), the principal amount of any such PIK Note issued to any Holder, for the relevant interest period as of the relevant Record Date for such Interest Payment Date, shall be exchanged for beneficial interests in the Regulation S Permanent Global Note pursuant to Applicable Procedures. The Company shall deliver rounded up to the Trustee an Authentication Order for the authentication of the Regulation S Permanent Global Note, an executed Regulation S Permanent Global Note, an Officers’ Certificate, and an Opinion of Counsel. Simultaneously with the authentication of the Regulation S Permanent Global Note, the Trustee will cancel the Regulation S Temporary Global Notenearest whole dollar.

Appears in 2 contracts

Samples: PPD, Inc., PPD, Inc.

Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or cancelled canceled in whole and not in part, each such Global Note shall will be returned to or retained and cancelled canceled by the Trustee in accordance with Section 2.11 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note or for Definitive Notes, the aggregate amount of Notes or the principal amount of Notes represented by such Global Note shall Note, as the case may be, will be reduced accordingly and an endorsement shall will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, the aggregate principal amount of such other Global Note shall will be increased accordingly and an endorsement shall will be made on the “Schedule of Exchanges of Interests” in such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. Promptly following the termination of the Distribution Compliance PeriodAt any time prior to such cancellation, the Company shall cause the if any beneficial interests interest in a Definitive Note is exchanged for or transferred to a Person who will take delivery thereof in the Regulation S Temporary Global Note to be exchanged for form of a beneficial interests interest in the Regulation S Permanent Global Note pursuant to Applicable Procedures. The Company shall deliver to the Trustee an Authentication Order for the authentication of the Regulation S Permanent Global Note, an executed Regulation S Permanent Global Note, an Officers’ Certificate, and an Opinion of Counsel. Simultaneously with the authentication of the Regulation S Permanent a Global Note, the Trustee will cancel the Regulation S Temporary principal amount of Notes represented by such Global Note, as the case may be, will be increased accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase.

Appears in 1 contract

Samples: Indenture (Niska Gas Storage Partners LLC)

Cancellation and/or Adjustment of Global Notes. At such time as is all beneficial interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or cancelled canceled in whole and not in part, each such Global Note shall be returned to or retained and cancelled canceled by the Trustee Custodian in accordance with Section 2.11 hereof2.10 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person person who will take delivery thereof in the form of a beneficial interest in another Global Note or for Definitive Notes, the aggregate principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee Custodian or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person person who will take delivery thereof in the form of a beneficial interest in another Global Note, the aggregate principal amount of such other Global Note shall be increased accordingly and an endorsement shall be made on the “Schedule of Exchanges of Interests” in such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. Promptly following To the termination extent that the Trustee has received notice from the Collateral Agent that any Notes are no longer part of Equity Units, there shall be noted by the Distribution Compliance PeriodCustodial Agent, upon receipt of instructions from the Company Trustee, on the Definitive Note issued to the Warrant Agent a reduction in principal amount equal to the aggregate principal amount of such Notes (the "Reduced Principal Amount") and there shall cause be noted by the beneficial interests in Custodial Agent, upon receipt of instructions from the Regulation S Temporary Trustee, on the Global Note issued to be exchanged for beneficial interests DTC an increase in the Regulation S Permanent Global Note pursuant to Applicable Procedures. The Company shall deliver principal amount equal to the Trustee an Authentication Order for the authentication of the Regulation S Permanent Global Note, an executed Regulation S Permanent Global Note, an Officers’ Certificate, and an Opinion of Counsel. Simultaneously with the authentication of the Regulation S Permanent Global Note, the Trustee will cancel the Regulation S Temporary Global NoteReduced Principal Amount.

Appears in 1 contract

Samples: Indenture (Citizens Communications Co)

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Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or cancelled canceled in whole and not in part, each such Global Note shall will be returned to or retained and cancelled canceled by the Trustee in accordance with Section 2.11 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note or for Definitive Notes, the aggregate principal amount of Notes represented by such Global Note shall will be reduced accordingly and an endorsement shall will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, the aggregate principal amount of such other Global Note shall will be increased accordingly and an endorsement shall will be made on the “Schedule of Exchanges of Interests” in such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. Promptly following the termination of the Distribution Compliance PeriodAt any time prior to such cancellation, the Company shall cause the if any beneficial interests interest in a Definitive Note is exchanged for or transferred to a Person who will take delivery thereof in the Regulation S Temporary Global Note to be exchanged for form of a beneficial interests interest in the Regulation S Permanent Global Note pursuant to Applicable Procedures. The Company shall deliver to the Trustee an Authentication Order for the authentication of the Regulation S Permanent Global Note, an executed Regulation S Permanent Global Note, an Officers’ Certificate, and an Opinion of Counsel. Simultaneously with the authentication of the Regulation S Permanent a Global Note, the principal amount of Notes represented by such Global Note will be increased accordingly and an endorsement will be made on such Global Note by the Trustee will cancel or by the Regulation S Temporary Global NoteDepositary at the direction of the Trustee to reflect such increase.

Appears in 1 contract

Samples: Collateral Trust Agreement (Primus Telecommunications Group Inc)

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