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 Definitive Securities, redeemed, repurchased or canceled, such Global Security shall be returned to or retained and canceled by the Trustee. At any time before such cancellation, if any beneficial interest in a Global Security is exchanged for Definitive 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, or an endorsement shall be made on such Global Security by, the Trustee or the Securities Custodian, at the direction of the Trustee, to reflect the reduction, all in accordance with the standing instructions and procedures existing between the Depository and the Securities Custodian.

Appears in 2 contracts

Samples: Indenture (Key Energy Group Inc), Key Energy Group 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 or Definitive Securities, redeemed, repurchased or canceled, such Global Security shall be returned to the Depository for cancellation or retained and canceled by the Trustee. At any time before prior to such cancellation, if any beneficial interest in a Global Security is exchanged for certificated or Definitive 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, or an endorsement shall be made on of the Trustee (if it is then the Securities Custodian for such Global Security bySecurity) with respect to such Global Security, by the Trustee or the Securities Custodian, at the direction of the Trustee, to reflect the such reduction, all in accordance with the standing instructions and procedures existing between the Depository and the Securities Custodian.

Appears in 2 contracts

Samples: Indenture (Glenoit Asset Corp), Wiser Marketing Co

Cancellation or Adjustment of Global Security. At such time as --------------------------------------------- all beneficial interests in a Global Security have either been exchanged for Definitive certificated Securities, redeemed, repurchased or canceled, such Global Security shall be returned to the Depository for cancellation or retained and canceled by the Trustee. At any time before prior to such cancellation, if any beneficial interest in a Global Security is exchanged for Definitive 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, or an endorsement shall be made on of the Trustee (if it is then the Securities Custodian for such Global Security bySecurity) with respect to such Global Security, by the Trustee or the Securities Custodian, at the direction of the Trustee, to reflect the such reduction, all in accordance with the standing instructions and procedures existing between the Depository and the Securities Custodian.. 150

Appears in 1 contract

Samples: 21st Century Telecom Group Inc

Cancellation or Adjustment of Global Security. At such time as --------------------------------------------- all beneficial interests in a Global Security have either been exchanged for certificated or Definitive Securities, redeemed, repurchased or canceled, such Global Security shall be returned to the Depository for cancellation or retained and canceled by the Trustee. At any time before prior to such cancellation, if any beneficial interest in a Global Security is exchanged for certificated or Definitive 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, or an endorsement shall be made on of the Trustee (if it is then the Securities Custodian for such Global Security bySecurity) with respect to such Global Security, by the Trustee or the Securities Custodian, at the direction of the Trustee, to reflect the such reduction, all in accordance with the standing instructions and procedures existing between the Depository and the Securities Custodian.

Appears in 1 contract

Samples: Indenture (Ak Steel Corp)

Cancellation or Adjustment of Global Security. At such time as all beneficial interests in a Global Security have either been exchanged for Definitive Securities, redeemed, repurchased or canceled, such Global Security shall be returned by the Depository to the Trustee for cancellation or retained and canceled by the TrusteeTrustee in accordance with its customary policies and procedures. At any time before prior to such cancellation, if any beneficial interest in a Global Security is exchanged for Definitive Securities, redeemed, repurchased or canceled, the principal amount of Securities represented by such Global Security shall be reduced reduced, and an adjustment shall be made on the books and records of, or an endorsement shall be made on of the Trustee (if it is then the Securities Custodian for such Global Security bySecurity) with respect to such Global Security, by the Trustee or the Securities Custodian, at the direction of the Trustee, to reflect the such reduction, all in accordance with the standing instructions and procedures existing between the Depository and the Securities Custodian.

Appears in 1 contract

Samples: Indenture (Rite Aid 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 Definitive Securities, redeemed, repurchased or canceled, such Global Security shall be returned to the Depository for cancellation or retained and canceled by the Trustee. At any time before prior to such cancellation, if any beneficial interest in a Global Security is exchanged for certificated or Definitive 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, or an endorsement shall be made on of the Trustee (if it is then the Securities Custodian for such Global Security bySecurity) with respect to such Global Security, by the Trustee or the Securities Custodian, at the direction of the Trustee, to reflect the such reduction, all in accordance with the standing instructions and procedures existing between the Depository and the Securities Custodian.

Appears in 1 contract

Samples: Delco Remy International Inc

Cancellation or Adjustment of Global Security. At such time as all beneficial interests in a Global Security have either been exchanged for Definitive certificated or definitive Securities, redeemed, repurchased or canceled, such Global Security shall be returned to the Depositary for cancellation or retained and canceled by the Trustee. At any time before prior to such cancellation, if any beneficial interest in a Global Security is exchanged for Definitive certificated or definitive Securities, redeemed, repurchased or canceled, the principal amount at maturity of Securities represented by such Global Security shall be reduced and an adjustment shall be made on the books and records of, or an endorsement shall be made on of the Trustee (if it is then the Securities Custodian for such Global Security bySecurity) with respect to such Global Security, by the Trustee or the Securities Custodian, at the direction of the Trustee, to reflect the such reduction, all in accordance with the standing instructions and procedures existing between the Depository and the Securities Custodian.

Appears in 1 contract

Samples: Indenture (Winstar Communications Inc)

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