Common use of Exchanges of Global Securities for Certificated Securities Clause in Contracts

Exchanges of Global Securities for Certificated Securities. A beneficial interest in a Global Security may not be exchanged for a Security in certificated form except as provided in Section 3.05(b). Any certificated Security issued in exchange for an interest in a Global Security shall bear the legend restricting transfers that is borne by such Global Security. Any such exchange shall be effected only through the DWAC system, and an appropriate adjustment shall be made in the records of the Security Register to reflect a decrease in the principal amount of the relevant Global Security.

Exchanges of Global Securities for Certificated Securities. A beneficial interest in a Global Security may not be exchanged for a Security in certificated form except as provided in Section 3.05(b). Any certificated Security issued in exchange for an interest in a Global Security shall bear the legend restricting transfers that is borne by such Global Security. Any such exchange shall be effected only through the DWAC systemSystem, and an appropriate adjustment shall be made in the records of the Security Register to reflect a decrease in the principal amount of the relevant Global Security.