Entry Trust Preferred Securities Certificate. If the Holder of a Trust Preferred Securities Certificate (other than a Book-Entry Trust Preferred Securities Certificate) wishes at any time to transfer all or any portion of such Trust Preferred Securities Certificate to a Person who wishes to take delivery thereof in the form of a beneficial interest in a Book-Entry Trust Preferred Securities Certificate, such transfer may be effected only in accordance with the provisions of this Clause (b)(i) and subject to the Applicable Procedures. Upon receipt by the Securities Registrar of such Trust Preferred Securities Certificate as provided in Section 5.5(a) and instructions satisfactory to the Securities Registrar directing that a beneficial interest in the Book-Entry Trust Preferred Securities Certificate of a specified number of Trust Preferred Securities not greater than the number of Trust Preferred Securities represented by such Trust Preferred Securities Certificate be credited to a specified Clearing Agency Participant's account, then the Securities Registrar shall cancel such Trust Preferred Securities Certificate (and issue a new Trust Preferred Securities Certificate in respect of any untransferred portion thereof) as provided in Section 5.5(a) and increase the aggregate Liquidation Amount of the Book-Entry Trust Preferred Securities Certificate by the Liquidation Amount represented by such Trust Preferred Securities so transferred as provided in Section 5.4(c).
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Samples: Trust Agreement (South Carolina Electric & Gas Co), Trust Agreement (Scana Corp)
Entry Trust Preferred Securities Certificate. If the Holder of a Trust Preferred Securities Certificate (other than a Book-Book- Entry Trust Preferred Securities Certificate) wishes at any time to transfer all or any portion of such Trust Preferred Securities Certificate to a Person who wishes to take delivery thereof in the form of a beneficial interest in a Book-Entry Trust Preferred Securities Certificate, such transfer may be effected only in accordance with the provisions of this Clause (b)(i) and subject to the Applicable Procedures. Upon receipt by the Securities Registrar of such Trust Preferred Securities Certificate as provided in Section 5.5(a) and instructions satisfactory to the Securities Registrar directing that a beneficial interest in the Book-Entry Trust Preferred Securities Certificate of a specified number of Trust Preferred Securities not greater than the number of Trust Preferred Securities represented by such Trust Preferred Securities Certificate be credited to a specified Clearing Agency Participant's account, then the Securities Registrar shall cancel such Trust Preferred Securities Certificate (and issue a new Trust Preferred Securities Certificate in respect of any untransferred portion thereof) as provided in Section 5.5(a) and increase the aggregate Liquidation Amount of the Book-Entry Trust Preferred Securities Certificate by the Liquidation Amount represented by such Trust Preferred Securities so transferred as provided in Section 5.4(c).
Appears in 2 contracts
Samples: Trust Agreement (Scana Corp), Trust Agreement (South Carolina Electric & Gas Co)
Entry Trust Preferred Securities Certificate. If the Holder of a Trust Preferred Securities Certificate (other than a Book-Entry Trust Preferred Securities Certificate) wishes at any time to transfer all or any portion of such Trust Preferred Securities Certificate to a Person who wishes to take delivery thereof in the form of a beneficial interest in a Book-Entry Trust Preferred Securities Certificate, such transfer may be effected only in accordance with the provisions of this Clause (b)(i) and subject to the Applicable Procedures. Upon receipt by the Securities Registrar of (A) such Trust Preferred Securities Certificate as provided in Section 5.5(a) and instructions satisfactory to the Securities Registrar directing that a beneficial interest in the Book-Entry Trust Preferred Securities Certificate of a specified number of Trust Preferred Securities not greater than the number of Trust Preferred Securities represented by such Trust Preferred Securities Certificate be credited to a specified Clearing Agency Participant's account, then the Securities Registrar shall cancel such Trust Preferred Securities Certificate (and issue a new Trust Preferred Securities Certificate in respect of any untransferred portion thereof) as provided in Section 5.5(a) and increase the aggregate Liquidation Amount of the Book-Entry Trust Preferred Securities Certificate by the Liquidation Amount represented by such Trust Preferred Securities so transferred as provided in Section 5.4(c).
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