Deemed Not Outstanding Sample Clauses
The 'Deemed Not Outstanding' clause defines circumstances under which certain securities, shares, or financial instruments are considered as no longer being in circulation or valid for specific contractual purposes. Typically, this clause applies when securities have been repurchased, redeemed, cancelled, or otherwise rendered inactive, even if they have not been physically destroyed or formally retired. By clarifying which instruments are excluded from calculations such as voting rights or dividend entitlements, this clause ensures accuracy in corporate governance and financial reporting, preventing confusion or disputes over the status of such securities.
Deemed Not Outstanding. For the purposes of determining whether the holders of the Notes of the requisite principal amount at the time outstanding have taken any action authorized by this Agreement with respect to the giving of consents or approvals or with respect to acceleration upon an Event of Default, any Notes directly or indirectly owned by the Company or any of its Subsidiaries or Affiliates shall be disregarded and deemed not to be outstanding.
Deemed Not Outstanding. For the purposes of determining whether the holders of the Notes of the requisite principal amount at the time outstanding have taken any action authorized by this Agreement or any other Operative Agreement with respect to the giving of consents or approvals or with respect to the acceleration upon an Event of Default, any Notes directly or indirectly owned by either Obligor, the general partner of Star Gas or any of their respective Affiliates shall be disregarded and deemed not to be outstanding.