Common use of Cancellation or Adjustment of Global Security Clause in Contracts

Cancellation or Adjustment of Global Security. At such time as all beneficial interests in a Global Security have either been exchanged for certificated Securities, redeemed, repurchased or canceled, such Global Security shall be returned to the Depository for cancellation or retained and canceled by the Securities Custodian. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for certificated Securities, redeemed, repurchased or canceled, the principal amount of Securities represented by such Global Security shall be reduced and an adjustment shall be made on the books and records of the Securities Custodian with respect to such Global Security to reflect such reduction.

Appears in 3 contracts

Samples: Indenture (Ak Steel Holding Corp), Indenture (Ak Steel Holding Corp), Indenture (Ak Steel Holding Corp)

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Cancellation or Adjustment of Global Security. At such time as all beneficial interests in a Global Security have either been exchanged for certificated or Physical Securities, redeemed, repurchased or canceled, such Global Security shall be returned to the Depository for cancellation or retained and canceled by the Securities CustodianTrustee. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for certificated or Physical Securities, redeemed, repurchased or canceled, the principal amount of Securities represented by such Global Security shall be reduced and an adjustment shall be made on the books and records of the Trustee (if it is then the Securities Custodian for such Global Security) with respect to such Global Security Security, by the Trustee or the Securities Custodian, to reflect such reduction.

Appears in 3 contracts

Samples: Pledge and Security Agreement (Willcox & Gibbs Inc /De), Egan Hub Partners Lp, Brazos Sportswear Inc /De/

Cancellation or Adjustment of Global Security. At such time as all beneficial interests in a Global Security have either been exchanged for certificated Securities, redeemed, repurchased purchased or canceled, such Global Security shall be returned to the Depository Trustee for cancellation or retained and canceled by the Depository or the Securities Custodian. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for certificated Securities, redeemed, repurchased purchased or canceled, the principal amount of Securities represented by such Global Security shall be reduced and an adjustment shall be made on the books and records of the Securities Custodian Depository with respect to such Global Security Security, by the Trustee or the Securities Custodian, to reflect such reduction.

Appears in 2 contracts

Samples: Indenture (GSV Inc /Fl/), Winstar Communications Inc

Cancellation or Adjustment of Global Security. At such time as all beneficial interests in a Global Security have either been exchanged for certificated Definitive Securities, redeemed, repurchased or canceled, such Global Security shall be returned to the Depository Registrar for cancellation or retained and canceled by the Securities CustodianRegistrar. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for certificated Securities, redeemed, repurchased or canceled, the principal amount of Securities represented by such Global Security shall be reduced and an adjustment shall be made on the books and records of the Securities Custodian Registrar with respect to such Global Security Security, by the Registrar, to reflect such reduction.

Appears in 2 contracts

Samples: Supplemental Indenture (RenPac Holdings Inc.), Intercreditor Agreement (RenPac Holdings Inc.)

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Cancellation or Adjustment of Global Security. At such time as all beneficial interests in a Global Security have either been exchanged for certificated Securities, redeemed, repurchased or canceled, such Global Security shall be returned to the Depository Depositary for cancellation or retained and canceled by the Securities CustodianTrustee. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for certificated Securities, redeemed, repurchased or canceled, the principal amount of Securities represented by such Global Security shall be reduced and an adjustment shall be made on the books and records of the Securities Custodian with respect to for such Global Security to reflect such reduction.

Appears in 1 contract

Samples: Indenture (Federated Department Stores Inc /De/)

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