Common use of Definitive Notes to Beneficial Interests in Global Notes Clause in Contracts

Definitive Notes to Beneficial Interests in Global Notes. A Holder of a Definitive Note may exchange such Note for a beneficial interest in a Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in a Global Note at any time. Upon receipt of a request for such an exchange or transfer, the Trustee will cancel the applicable Definitive Note and increase or cause to be increased the aggregate principal amount of one of the Global Notes.‌ If any such exchange or transfer from a Definitive Note to a beneficial interest is effected pursuant to subparagraph (3) above at a time when a Global Note has not yet been issued, the Company will issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee will authenticate one or more Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred.

Appears in 2 contracts

Samples: Indenture, Indenture

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Definitive Notes to Beneficial Interests in Global Notes. A Holder of a an Definitive Note may exchange such Note for a beneficial interest in a an Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in a Global Note at any time. Upon receipt of a request for such an exchange or transfer, the Trustee will shall cancel the applicable Definitive Note and increase or cause to be increased the aggregate principal amount of one of the Global Notes.‌ Notes. If any such exchange or transfer from a Definitive Note to a beneficial interest is effected pursuant to subparagraph (3) above the preceding paragraph at a time when a Global Note has not yet been issued, the Company will shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee will shall authenticate one or more Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred.

Appears in 2 contracts

Samples: Indenture (Wci Communities Inc), Indenture (Valimar Home & Land Company, LLC)

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Definitive Notes to Beneficial Interests in Global Notes. A Holder of a Definitive Note may exchange such Note for a beneficial interest in a Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in a Global Note at any time. Upon receipt of a request for such an exchange or transfer, the Trustee will cancel the applicable Definitive Note and increase or cause to be increased the aggregate principal amount of one of the Global Notes.‌ Notes. If any such exchange or transfer from a Definitive Note to a beneficial interest is effected pursuant to subparagraph (3) above at a time when a Global Note has not yet been issued, the Company will issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee will authenticate one or more Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred.

Appears in 1 contract

Samples: Indenture

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