Common use of Limitations Relating to Principal Amount Clause in Contracts

Limitations Relating to Principal Amount. Notwithstanding any other provision of this Indenture, Securities or portions thereof may be transferred or exchanged only in principal amounts of not less than the minimum authorized denomination therefor, and only if, following such transfer or exchange, each Holder would hold Securities with a principal amount of not less than such minimum authorized denomination. Any transfer, exchange or other disposition of Securities in contravention of this Section 3.6(b)(v) shall be deemed to be void and of no legal effect whatsoever, any such transferee shall be deemed not to be the Holder or owner of any beneficial interest in such Securities for any purpose, including but not limited to the receipt of interest (including any Additional Interest) payable on such Securities, and such transferee shall be deemed to have no interest whatsoever in such Securities.

Appears in 4 contracts

Samples: Indenture (Centura Banks Inc), Trust Agreement (DPL Inc), Colonial Bancgroup Inc

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Limitations Relating to Principal Amount. Notwithstanding any other provision of this Indenture, Indenture and unless otherwise specified as permitted by Section 3.1; Securities or portions thereof may be transferred or exchanged only in principal amounts of not less than $1,000.00. To the minimum authorized denomination thereforfullest extent permitted by applicable law, and only if, following such transfer or exchange, each Holder would hold Securities with a principal amount of not less than such minimum authorized denomination. Any any transfer, exchange or other disposition of Securities in contravention of this Section 3.6(b)(v) shall be deemed to be void and of no legal effect whatsoever, any such transferee shall be deemed not to be the Holder or owner of any beneficial interest in such Securities for any purpose, including but not limited to the receipt of interest (including any Additional Interest) payable on such Securities, and such transferee shall be deemed to have no interest whatsoever in such SecuritiesSecurities and, the Securities Registrar shall not record any such transfer in the Securities Registrar.

Appears in 3 contracts

Samples: Florida Community Banks Inc, Peoples Bancorp of North Carolina Inc, CCF Holding Co

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