Common use of Non-Global Capital Security to Global Capital Security Clause in Contracts

Non-Global Capital Security to Global Capital Security. If the ------------------------------------------------------ Holder of a Capital Securities Certificate (other than a Global Capital Security) wishes at any time to transfer all or any portion of such Capital Securities Certificate to a Person who wishes to take delivery thereof in the form of a beneficial interest in a Global Capital Security, such transfer may be effected only in accordance with the provisions of this clause (b)(i) and subject to the Applicable Procedures. Upon receipt by the Securities Registrar of (A) such Capital Securities Certificate as provided in Section 5.5(a) and instructions satisfactory to the Securities Registrar directing that a beneficial interest in the Global Capital Security of a specified number of Capital Securities not greater than the number of Capital Securities represented by such Capital Securities Certificate be credited to a specified Clearing Agency Participant's account, then the Securities Registrar shall cancel such Capital Securities Certificate (and issue a new Capital Securities Certificate in respect of any untransferred portion thereof) as provided in Section 5.5(a) and increase the aggregate Liquidation Amount of the Global Capital Security by the Liquidation Amount represented by such Capital Securities so transferred as provided in Section 5.4(c).

Appears in 1 contract

Samples: Trust Agreement (American Express Co Capital Trust Ii)

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Non-Global Capital Security to Global Capital Security. If the ------------------------------------------------------ Holder of a Capital Securities Certificate (other than a Global Capital Security) wishes at any time to transfer all or any portion of such Capital Securities Certificate to a Person who wishes to take delivery thereof in the form of a beneficial interest in a Global Capital Security, such transfer may be effected only in accordance with the provisions of this clause (b)(i) and subject to the Applicable Procedures. Upon receipt by the Securities Registrar of (A) such Capital Securities Certificate as provided in Section 5.5(a) and instructions satisfactory to the Securities Registrar directing that a beneficial interest in the Global Capital Security of a specified number of Capital Securities not greater than the number of Capital Securities represented by such Capital Securities Certificate be credited to a specified Clearing Agency Participant's account, then the Securities Registrar shall cancel such Capital Securities Certificate (and issue a new Capital Securities Certificate in respect of any untransferred portion thereof) as provided in Section 5.5(a) and increase the aggregate Liquidation Amount of the Global Capital Security by the Liquidation Amount represented by such Capital Securities so transferred as provided in Section 5.4(c).

Appears in 1 contract

Samples: Trust Agreement (CSC Capital Iii)

Non-Global Capital Security to Global Capital Security. If the ------------------------------------------------------ Holder of a an Other Capital Securities Certificate Security (other than a the Global Capital Security) wishes at any time to transfer all or any portion of such other Capital Securities Certificate Security to a Person who wishes to take delivery thereof in the form of a beneficial interest in a the Global Capital Security, such transfer may be effected only in accordance with the provisions of this clause Clause (b)(i) and subject to the Applicable Procedures. Upon receipt by the Securities Registrar of (A) such Other Capital Securities Certificate Security as provided in Section 5.5(a5.05(a) and instructions satisfactory to the Securities Registrar directing that a beneficial interest in the Global Capital Security of in a specified number of Capital Securities liquidation amount not greater than the number liquidation amount of such Other Capital Securities represented by such Capital Securities Certificate Security be credited to a specified Clearing Agency Participant's accountaccount and (B) a Capital Securities Certificate duly executed by such Holder or such Holder's attorney duly authorized in writing, then the Securities Registrar shall cancel such Other Capital Securities Certificate Security (and issue a new Other Capital Securities Certificate Security in respect of any untransferred portion thereof) as provided in Section 5.5(a5.01(a) and increase the aggregate Liquidation Amount liquidation amount of the Global Capital Security by the Liquidation Amount represented by such Capital Securities so transferred specified liquidation amount as provided in Section 5.4(c5.04(c).

Appears in 1 contract

Samples: Commonwealth Bankshares Inc

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Non-Global Capital Security to Global Capital Security. If ------------------------------------------------------ the ------------------------------------------------------ Holder of a an Other Capital Securities Certificate Security (other than a the Global Capital Security) wishes at any time to transfer all or any portion of such other Capital Securities Certificate Security to a Person who wishes to take delivery thereof in the form of a beneficial interest in a the Global Capital Security, such transfer may be effected only in accordance with the provisions of this clause Clause (b)(i) and subject to the Applicable Procedures. Upon receipt by the Securities Registrar of (A) such Other Capital Securities Certificate Security as provided in Section 5.5(a5.05(a) and instructions satisfactory to the Securities Registrar directing that a beneficial interest in the Global Capital Security of in a specified number of Capital Securities liquidation amount not greater than the number liquidation amount of such Other Capital Securities represented by such Capital Securities Certificate Security be credited to a specified Clearing Agency Participant's accountaccount and (B) a Capital Securities Certificate duly executed by such Holder or such Holder's attorney duly authorized in writing, then the Securities Registrar shall cancel such Other Capital Securities Certificate Security (and issue a new Other Capital Securities Certificate Security in respect of any untransferred portion thereof) as provided in Section 5.5(a5.01(a) and increase the aggregate Liquidation Amount liquidation amount of the Global Capital Security by the Liquidation Amount represented by such Capital Securities so transferred specified liquidation amount as provided in Section 5.4(c5.04(c).

Appears in 1 contract

Samples: Commonwealth Bankshares Inc

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