Maintenance of Office or Agency; Unclaimed Moneys. (a) The Corporation shall maintain an office and agency at which the Warrants may be presented or surrendered for exercise or registration of transfer or exchange or cancellation and where notices and demands to or upon the Corporation in respect of the Warrants and this Agreement may be served, which office and agency shall be the same as the location of the Warrant Agent Office, and the Corporation hereby appoints the Warrant Agent as its agent to receive all such presentations, surrenders, notices and demands. (b) The Corporation shall, on or prior to the date on which delivery of the Warrant Debt Securities issuable upon exercise of any Warrants is due, cause the Trustee to issue such Warrant Debt Securities, which Warrant Debt Securities shall be held for the benefit of the Persons entitled to receive such Warrant Debt Securities. (c) Any money deposited with the Warrant Agent for the payment of any amounts that may become due and payable with respect to any Warrant, and any Warrant Debt Securities deposited with the Warrant Agent for delivery upon exercise of any Warrant, and remaining unclaimed for three years after such payment or delivery has become due, shall be paid or returned to the Corporation, at the request of the Corporation, and the Person entitled to such money or Warrant Debt Securities shall thereafter, as an unsecured general creditor, look only to the Corporation for payment or delivery thereof, and all liability of the Warrant Agent with respect to such money or Warrant Debt Securities shall thereupon cease; provided, however, that the Warrant Agent, before being required to make any such repayment or return, may at the expense of the Corporation, cause notice to be given in accordance with Section 8.05 to the Person entitled to such money or Warrant Debt Securities that such money or Warrant Debt Securities remain unclaimed and that, after a date specified therein, which shall be not less than 30 days from the date of such notice, any unclaimed balance of such money or unclaimed Warrant Debt Securities then remaining will be repaid or returned to the Corporation.
Appears in 2 contracts
Samples: Debt Warrant Agreement (Ubs Preferred Funding Trust Iv), Debt Warrant Agreement (UBS Preferred Funding Trust VIII)
Maintenance of Office or Agency; Unclaimed Moneys. (a) The Corporation shall maintain an office and agency at which the Warrants may be presented or surrendered for exercise or registration of transfer or exchange or cancellation and where notices and demands to or upon the Corporation in respect of the Warrants and this Agreement may be served, which office and agency shall be the same as the location of the Warrant Agent Office, and the Corporation hereby appoints the Warrant Agent as its agent to receive all such presentations, surrenders, notices and demands.
(b) The Corporation shall, on or prior to the each due date on which delivery of the Cash Settlement Value [or Cancellation Amount, as the case may be,] on any Warrant, deposit with the Warrant Debt Securities issuable upon exercise of any Warrants is Agent a sum sufficient to pay the Cash Settlement Value [or Cancellation Amount, as the case may be,] so becoming due, cause the Trustee such sum to issue such Warrant Debt Securities, which Warrant Debt Securities shall be held for the benefit of the Persons entitled to receive such Warrant Debt SecuritiesCash Settlement Value [or Cancellation Amount, as the case may be].
(c) Any money deposited with the Warrant Agent for the payment of any amounts that the Cash Settlement Value [or Cancellation Amount, as the case may become due and payable with respect to any Warrant, and be,] on any Warrant Debt Securities deposited with the Warrant Agent for delivery upon exercise of any Warrant, and remaining unclaimed for three years after such payment Cash Settlement Value [or delivery Cancellation Amount, as the case may be,] has become duedue and payable, shall be paid or returned to the Corporation, at the request of the Corporation, and the Person entitled to such money or Warrant Debt Securities shall thereafter, as an unsecured general creditor, look only to the Corporation for payment or delivery thereof, and all liability of the Warrant Agent with respect to such money or Warrant Debt Securities shall thereupon cease; provided, however, that the Warrant Agent, before being required to make any such repayment or returnrepayment, may at the expense of the Corporation, cause notice to be given in accordance with Section 8.05 to the Person entitled to such money or Warrant Debt Securities that such money or Warrant Debt Securities remain remains unclaimed and that, after a date specified therein, which shall be not less than 30 days from the date of such notice, any unclaimed balance of such money or unclaimed Warrant Debt Securities then remaining will be repaid or returned to the Corporation.
Appears in 2 contracts
Samples: Warrant Agreement (Ubs Preferred Funding Trust Iv), Warrant Agreement (UBS Preferred Funding Trust VIII)