Option to Contribute Derivative Instrument Sample Clauses

Option to Contribute Derivative Instrument. At any time on or after the Closing Date, the Seller shall have the right to contribute to, and deposit into, the Trust a derivative contract or comparable instrument (a “Derivative Instrument”). The Derivative Instrument may have a notional amount in excess of the sum of the beneficial interests in the Trust. Any such instrument shall constitute a fully prepaid agreement. The Trust Administrator shall have no tax reporting duties with respect to any such Derivative Instrument.
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Option to Contribute Derivative Instrument. (a) At any time on or after the Closing Date, the Seller shall have the right to contribute to, and deposit into, the Trust a derivative contract or comparable instrument (a “Derivative Instrument”). The derivative may have a notional amount in excess of the sum of the beneficial interests in the trusts. Any such instrument shall constitute a fully prepaid agreement. All collections, proceeds and other amounts received by the Trust Administrator in respect of such instrument shall be distributed to the Class X Certificates on the Distribution Date following receipt thereof. In no event shall such an instrument constitute a part of any REMIC created hereunder. In addition, in the event any such instrument is deposited, the Trust shall be deemed to be divided into two separate and discrete sub-trusts. The assets of one such sub-trust shall consist of all the assets of the Trust other than the Derivative Instrument and the assets of the other sub-trust shall consist solely of such instrument. The Trust Administrator shall have no tax reporting duties with respect to any such Derivative Instrument or any related Sub-trust. (b) Notwithstanding paragraph (a) above, in the event of the conveyance by the Seller of the Class X Certificates to a trust established for the issuance of a series of NIMS Securities, the Seller shall no longer have the right to deposit a Derivative Instrument into the Trust. For purposes hereof, “NIMS Securities” are securities that evidence an interest in, or are secured by, distributions on the Class X Certificate.
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Option to Contribute Derivative Instrument. At any time on or after the Closing Date, the Seller shall have the right to contribute to, and deposit into, the Trust a derivative contract or comparable instrument (a “Derivative Instrument”). The derivative may have a notional amount in excess of the sum of the beneficial interests in the Trust. Any such instrument shall constitute a fully prepaid agreement. All collections, proceeds and other amounts in respect of such instrument shall be distributed to the Holder of the Residual Certificates on the Distribution Date following receipt thereof. In addition, in the event any such instrument is deposited, the Trust shall be deemed to be divided into two separate and discrete sub-trusts. The assets of one such sub-trust shall consist of all the assets of the Trust other than the Derivative Instrument and the assets of the other sub-trust shall consist solely of such instrument. No Derivative Instrument shall be an asset of any REMIC formed hereby.
Sample 1

Related to Option to Contribute Derivative Instrument

  • What if I Make a Contribution for Which I Am Ineligible or Change My Mind About the Type of IRA to Which I Wish to Contribute?

  • Agreement to Continue in Force Both Parties shall adhere fully to the terms of this Agreement during the period of bona fide collective bargaining.

  • No Obligation to Continue Business Relationship Neither the Plan, this agreement, nor the grant of this option imposes any obligation on the Company to continue the Optionee in employment or other Business Relationship.

  • Condition to Contract As a condition to this Agreement, Contractor shall execute the “Chapter 12B Declaration: Nondiscrimination in Contracts and Benefits” form (form HRC-12B-101) with supporting documentation and secure the approval of the form by the San Francisco Human Rights Commission.

  • Am I Eligible to Contribute to a Traditional IRA?

  • No Rights or Liabilities as a Stockholder This Warrant shall not entitle the Holder hereof to any voting rights or other rights as a stockholder of the Company, until properly exercised.

  • FAILURE TO CONTRIBUTE Pursuant to Section 00-00-000 of the Act, any contribution must be satisfied by the Member within sixty (60) days from the date of the call for capital. If a Member fails to make its required contributions to the Company, then the other Members may seek enforcement of the obligation to contribute capital. Any remedy under the Act may be pursued, including allowing the individual to become a Member without a transferable interest, provided there is unanimous consent from all Members who have satisfied their contribution obligations.

  • Objection to Contrary Terms Publisher hereby objects to any terms contained in any purchase order, acknowledgment, check endorsement or other writing prepared by you, which terms are inconsistent with these terms and conditions or CCC's Billing and Payment terms and conditions. These terms and conditions, together with CCC's Billing and Payment terms and conditions (which are incorporated herein), comprise the entire agreement between you and publisher (and CCC) concerning this licensing transaction. In the event of any conflict between your obligations established by these terms and conditions and those established by CCC's Billing and Payment terms and conditions, these terms and conditions shall control.

  • No Obligation to Continue Employment Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or this Agreement to continue the Grantee in employment and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the employment of the Grantee at any time.

  • No Rights or Liabilities as a Shareholder This Warrant shall not entitle the holder hereof to any voting rights or other rights as a shareholder of the Company. No provision of this Warrant, in the absence of affirmative action by the holder hereof to purchase Warrant Shares, and no mere enumeration herein of the rights or privileges of the holder hereof, shall give rise to any liability of such holder for the Exercise Price or as a shareholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

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