ID Confirmations Clause Samples

ID Confirmations. If the Seller elects to settle the Senior Securities using the ID (Institutional Delivery) System of DTCC, the Seller shall generate and issue to the Purchaser a Senior Securities ID Confirmation in respect of the Senior Securities to be issued on the related Settlement Date, which shall set forth a “dummy” CUSIP number for the related Senior Securities, shall specify that the Senior Securities are “ineligible securities” for purposes of DTCC and a “sell” price of zero dollars. In the event that the Seller elects to immediately redeem the Senior Securities upon issuance, the Seller shall generate and issue to the Purchaser a Senior Securities ID Confirmation in respect of the Senior Securities to be redeemed, which Senior Securities ID Confirmation shall specify a “buy” price in an aggregate principal amount equal to the related Note Issuance Amount.