Notification of Results; Settlement Sample Clauses
Notification of Results; Settlement. (a) By telephone at approximately 3:30 p.m., New York City time, on each Remarketing Date, the Remarketing Agents shall advise each Beneficial Owner of tendered shares and each purchaser thereof (or the Agent Member thereof) (i) of the number of shares such Beneficial Owner or purchaser is to sell or purchase and (ii) to give instructions to its Agent Member to deliver such shares against payment therefor or to pay the purchase price against delivery as appropriate. The Remarketing Agents will also advise each Beneficial Owner or purchaser that is to continue to hold, or to purchase, shares with a Dividend Period beginning on the Business Day following such Remarketing Date of the Applicable Dividend Rate for such shares.
(b) In accordance with the Securities Depository's normal procedures, on the Settlement Date, the transactions described above with respect to each share of RP shall be executed through the Securities Depository, if the Securities Depository or its nominee holds or is to hold the certificate relating to the shares to be purchased, and the accounts of the respective Agent Members of the Securities Depository shall be debited and credited and shares delivered by book entry as necessary to effect the purchases and sales of shares of RP in the related Remarketing. Purchasers of such shares of RP shall make payment to the Paying Agent in same-day funds against delivery to such purchasers or their nominees of one or more certificates representing such shares of RP, or, if the Securities Depository or its nominee holds or is to hold the certificate relating to such shares to be purchased, through their Agent Members in same-day funds to the Securities Depository against delivery by book entry of such shares of RP through their Agent Members. The Securities Depository shall make payment in accordance with its normal procedures.
(c) If any Beneficial Owner selling shares of RP in a Remarketing fails to deliver such shares, the Agent Member of such selling Beneficial Owner and of any other person that was to have purchased shares of RP in such Remarketing may deliver to any such other person a number of whole shares of RP that is less than the number of shares that otherwise was to be purchased by such person. In such event, the number of shares of RP to be so delivered shall be determined by such Agent Member. Delivery of such lesser number of shares of RP shall constitute good delivery of such number of shares.
(d) The Remarketing Agents, the Pay...
Notification of Results; Settlement. Provided the MAPS Agent has previously notified the Company and the Trustee on the Notification Date of its intention to purchase this Note on the MAPS Remarketing Date, the MAPS Agent shall notify the Company, the Trustee and DTC by telephone, confirmed in writing, by 4:00 p.m., New York City time, on the Determination Date, of the MAPS Interest Rate, and this Note shall be automatically delivered to the account of the Trustee, by book-entry through DTC pending payment of the purchase price therefor, on the MAPS Remarketing Date. In the event that the MAPS Agent purchases this Note on the MAPS Remarketing Date, the MAPS Agent shall make or cause the Trustee to make payment to the DTC participant of each tendering beneficial owner hereof, by book-entry through DTC by the close of business on the MAPS Remarketing Date against delivery through DTC of such beneficial owner's interest herein, of 100% of the principal amount for this Note. If the MAPS Agent does not purchase this Note on the MAPS Remarketing Date, the Company may attempt to convert this Note to a new Interest Rate Mode; the interest rate will be determined as provided above in "Interest Rate" and settlement will be effected as described under "Remarketing and Settlement" above. In any case, the Company shall make or cause the Trustee to make payment of interest to each beneficial owner of this Note due on the MAPS Remarketing Date by book-entry through DTC by the close of business on the MAPS Remarketing Date. The transactions set forth above shall be executed on the MAPS Remarketing Date through DTC in accordance with the procedures of DTC, and the accounts of the respective DTC participants shall be debited and credited and this Note shall be delivered by book-entry as necessary to effect the purchases and sales thereof. Transactions involving the sale and purchase of Notes remarketed by the MAPS Agent on and after the MAPS Remarketing Date will settle in immediately available funds through DTC's Same-Day Funds Settlement System. The tender and settlement procedures set forth above, including provisions for payment by purchasers of this Note in the remarketing or for payment to selling beneficial owners of this Note, may be modified to the extent required by DTC or to the extent required to facilitate the tender and remarketing of this Note in certificated form, if the book-entry system is no longer available for this Note at the time of the remarketing. In addition, the MAPS Agent may, witho...
Notification of Results; Settlement. Provided the SPURS Agent has previously notified the Company and the Trustee on the Notification Date of its intention to purchase all tendered Notes on the SPURS Remarketing Date, the SPURS Agent will notify the Company, the Trustee and the Depositary by telephone, confirmed in writing, by 4:00 p.m., New York City time, on the Determination Date, of the SPURS Interest Rate. All of the tendered Notes will be automatically delivered to the account of the Trustee, by book-entry through the Depositary pending payment of the purchase price therefor, on the SPURS Remarketing Date. In the event that the SPURS Agent purchases the tendered Notes on the SPURS Remarketing Date, the SPURS Agent will make or cause the Trustee to make payment to the DTC Participant of each tendering Beneficial Owner of Notes, by book-entry through the Depositary by the close of business on the SPURS Remarketing Date against delivery through the Depositary of such Beneficial Owner's tendered Notes. If the SPURS Agent does not purchase all of the Notes on the SPURS Remarketing Date, the Company may attempt to convert the Notes to a new Interest Rate Mode, such interest rate to be determined as provided for in Section 205 hereof, and settlement will be effected as described in this Section 304(b). In any case, the Company will make or cause the Trustee to make payment of interest to each Beneficial Owner of Notes due on the SPURS Remarketing Date by book-entry through the Depositary by the close of business on the SPURS Remarketing Date. The transactions in this subsection (b)(2) hereof will be executed on the SPURS Remarketing Date through the Depositary in accordance with the procedures of the Depositary, and the accounts of the respective DTC Participants will be debited and credited and the Notes delivered by book-entry as necessary to effect the purchases and sales thereof. Transactions involving the sale and purchase of Notes remarketed by the SPURS Agent on and after a SPURS Remarketing Date will settle in immediately available funds through the Depositary's Same-Day Funds Settlement System. The tender and settlement procedures described above, including provisions for payment by purchasers of Notes in the remarketing or for payment to selling Beneficial Owners of tendered Notes, may be modified to the extent required by the Depositary or to the extent required to facilitate the tender and remarketing of Notes in certificated form, if the book-entry system is no longer available fo...
Notification of Results; Settlement. Subject to the Remarketing Dealer's election to remarket the ROARS and to the Company's election not to exercise its Floating Period Option, as set forth in subsection (b)(ii) of this Section 3.2, the Remarketing Dealer shall notify the Company, the Trustee and the U.S. Depository by telephone, confirmed in writing (which may include facsimile or other electronic transmission), by 4:00 p.m., New York City time, on the Fixed Rate Determination Date of the Interest Rate to Maturity of the ROARS effective from and including the Fixed Rate Remarketing Date.
Notification of Results; Settlement. Provided the MAPS Agent has previously notified the Company and the Trustee on the Notification Date of its intention to purchase all tendered Notes on the MAPS Remarketing Date, the MAPS Agent shall notify the Company, the Trustee and DTC by telephone, confirmed in writing, by 4:00 p.m., New York City time, on the Determination Date, of the MAPS Interest Rate. All of the tendered Notes shall be automatically delivered to the account of the Trustee, by book-entry through DTC pending payment of the purchase price therefor, on the MAPS Remarketing Date. In the event that the MAPS Agent purchases the tendered Notes on the MAPS Remarketing Date, the MAPS Agent shall make or cause the Trustee to make payment to the DTC Participant of each tendering Beneficial Owner of Notes, by book-entry through DTC by
Notification of Results; Settlement. 59 6. Purchase of Shares of RP by Remarketing Agents.............................................
Notification of Results; Settlement. Provided the SPURS Agent has previously notified the Company and the Trustee on the Notification Date of its intention to purchase this Note on the SPURS Remarketing Date, the SPURS Agent shall notify the Company, the Trustee and DTC by telephone, confirmed in writing, by 4:00 p.m., New York City time, on the Determination Date, of the SPURS Interest Rate, and this Note shall be automatically delivered to the account of the Trustee, by book-entry through DTC pending payment of the purchase price therefor, on the SPURS Remarketing Date. In the event that the SPURS Agent purchases this Note on the SPURS Remarketing Date, the SPURS Agent shall make or cause the Trustee to make payment to the DTC participant of each tendering beneficial owner hereof, by book-entry through DTC by the close of business on the SPURS Remarketing Date against delivery through DTC of such beneficial owner's interest herein, of 100% of the principal amount for this Note. If the SPURS Agent does not purchase this Note on the SPURS Remarketing Date, the Company may attempt to convert this Note to a new Interest Rate Mode; the interest rate will be determined as provided above in "Interest Rate" and settlement will be effected as described under "Remarketing and Settlement" above. In any
Notification of Results; Settlement. By telephone at approximately 430 p.m., New York City time, on each Dividend Reset Date with respect to shares of RP, the Remarketing Agents shall advise each Beneficial Owner of tendered shares and each purchaser thereof (or the Agent
Notification of Results; Settlement. Provided the Remarketing Dealer has previously notified the Operating Partnership and the Trustee on the Notification Date of its intention to purchase all tendered MOPPRS on the Remarketing Date, the Remarketing Dealer shall notify the Operating Partnership, the Trustee and DTC by telephone, confirmed in writing, by 4:00 p.m., New York City time, on the Determination Date, of the Interest Rate to Maturity. All of the tendered MOPPRS shall be automatically delivered to the account of the Trustee, by book-entry through DTC pending payment of the purchase price therefor, on the Remarketing Date. In the event that the MOPPRS are remarketed as provided for in the Remarketing Agreement, the Remarketing Dealer shall make or cause the Trustee to make payment to the DTC Participant of each tendering Beneficial Owner of MOPPRS, by book-entry through DTC by the close of business on the Remarketing Date against delivery
Notification of Results; Settlement. Provided the Remarketing ----------------------------------- Dealer has previously notified the Company and the Trustee on the relevant Notification Date of its intention to purchase a series of ROARS on the applicable Remarketing Date, the Remarketing Dealer shall notify the Company, the Trustee and the Depository by telephone, confirmed in writing, by 4:00 p.m., New York City time, on the applicable Determination Date, of the Interest Rate to Maturity for such series of ROARS.