Common use of Mechanics of Exchange Clause in Contracts

Mechanics of Exchange. The Holder shall have provided the Company with a brokerage statement dated as of the date hereof verifying that the Holder is the beneficial owner of the amount of Notes set forth on Schedule I hereto. At the Closing, the Holder shall deliver its Notes to Xxxxx Fargo Bank N.A. via the Depository Trust Company's DWAC system for CUSIP No. 00000XXX0. Simultaneous thereto, the Company and the Singapore Borrower shall deliver (or otherwise give effect to) the Consideration in exchange for the Holder’s Notes whereupon such Notes shall be deemed automatically cancelled. The Exchange Transaction shall be deemed to be in full satisfaction of the Company’s obligations (including all outstanding principal and accrued interest thereon) under the Holder’s Notes, and all rights of the Holder under (i) such Notes and (ii) the related Indenture dated December 22, 2009 (the "Indenture") between the Company and Xxxxx Fargo Bank, N.A., as trustee, shall be terminated in full.

Appears in 2 contracts

Samples: Note Exchange Agreement (Pulse Electronics Corp), Note Exchange Agreement (Pulse Electronics Corp)

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Mechanics of Exchange. The Holder shall have provided the Company with a brokerage statement dated as of the date hereof verifying that the Holder is the beneficial owner of the aggregate principal amount of Notes set forth on Schedule I hereto. At the Closing, the Holder shall deliver its Notes to Xxxxx Fargo Bank N.A. via the Depository Trust Company's ’s DWAC system for CUSIP No. 00000XXX0. Simultaneous thereto, the Company and the Singapore Borrower shall deliver (or otherwise give effect to) the Consideration in exchange for the Holder’s Notes whereupon such Notes shall be deemed automatically cancelled. The Exchange Transaction shall be deemed to be in full satisfaction of the Company’s obligations (including all outstanding principal and accrued interest thereon) under the Holder’s Notes, and all rights of the Holder under (i) such Notes and (ii) the related Indenture dated December 22, 2009 (the "Indenture") between the Company and Xxxxx Fargo Bank, N.A., as trustee, shall be terminated in fullfull upon completion of the Exchange Transaction.

Appears in 1 contract

Samples: Note Exchange Agreement (Pulse Electronics Corp)

Mechanics of Exchange. The Holder shall have provided the Company with a brokerage statement or other written evidence dated as of the date hereof verifying that the Holder is the beneficial owner of the amount of Notes set forth on Schedule I hereto. At the Closing, the Holder shall deliver its Notes to Xxxxx Fargo Bank N.A. via the Depository Trust Company's DWAC system for CUSIP No. 00000XXX0. Simultaneous thereto, the Company and the Singapore Borrower shall deliver (or otherwise give effect to) the Consideration in exchange for the Holder’s Notes whereupon such Notes shall be deemed automatically cancelled. The Exchange Transaction shall be deemed to be in full satisfaction of the Company’s obligations (including all outstanding principal and accrued interest thereon) under the Holder’s Notes, and all rights of the Holder under (i) such Notes and (ii) the related Indenture dated December 22, 2009 (the "Indenture") between the Company and Xxxxx Fargo Bank, N.A., as trustee, shall be terminated in full.

Appears in 1 contract

Samples: Note Exchange Agreement (Pulse Electronics Corp)

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Mechanics of Exchange. The Holder shall have provided the Company with a brokerage statement dated as of the date hereof verifying that the Holder is the beneficial owner of the amount of Notes set forth on Schedule I hereto. At the Closing, the Holder shall deliver its Notes to Xxxxx Fargo Bank N.A. via the Depository Trust Company's DWAC system for CUSIP No. 00000XXX0. Simultaneous thereto, the Company and the Singapore Borrower shall deliver (or otherwise give effect to) the Consideration in exchange for the Holder’s Notes whereupon such Notes shall be deemed automatically cancelled. The Exchange Transaction shall be deemed to be in full satisfaction of the Company’s obligations (including all outstanding principal and accrued interest thereon) under the Holder’s Notes, and all rights of the Holder under (i) such Notes and (ii) the related Indenture dated December 22, 2009 (the "Indenture") between the Company and Xxxxx Fargo Bank, N.A., as trustee, shall be terminated in full.

Appears in 1 contract

Samples: Note Exchange Agreement (Pulse Electronics Corp)

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