Common use of Pledged Senior Notes or the Pledged Applicable Ownership Interests in the case of a Holder Clause in Contracts

Pledged Senior Notes or the Pledged Applicable Ownership Interests in the case of a Holder. of Corporate Units or (2) Pledged Treasury Securities, in the case of a Holder of Treasury Units, in each case with a Value equal to the product of (x) the Stated Amount times (y) the number of Purchase Contracts as to which such Holder has elected to effect Early Settlement or Cash Merger Early Settlement, and shall instruct the Securities Intermediary to Transfer all such Pledged Applicable Ownership Interests or Pledged Senior Notes or Pledged Treasury Securities, as the case may be, to the Purchase Contract Agent for distribution to such Holder, in each case free and clear of the Pledge created hereby. A holder of Treasury Units may settle early only in integral multiples of 40 Treasury Units, and a Holder of Corporate Units, if the Treasury Portfolio has replaced the Senior Notes represented by such Corporate Units, may settle early only in integral multiples of 64,000 Corporate Units.

Appears in 1 contract

Samples: Pledge Agreement (Chubb Corp)

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Pledged Senior Notes or the Pledged Applicable Ownership Interests in the case of a Holder. of Corporate Units or (2) Pledged Treasury Securities, in the case of a Holder of Treasury Units, in each case with a Value equal to the product of (x) the Stated Amount times (y) the number of Purchase Contracts as to which such Holder has elected to effect Early Settlement or Cash Merger Early Settlement, and shall instruct the Securities Intermediary to Transfer all such Pledged Applicable Ownership Interests or Pledged Senior Notes or Pledged Treasury Securities, as the case may be, to the Purchase Contract Agent for distribution to such Holder, in each case free and clear of the Pledge created hereby. A holder of Treasury Units may settle early only in integral multiples of 40 Treasury Units, and a Holder of Corporate Units, if the Treasury Portfolio has replaced the Senior Notes represented by such Corporate Units, may settle early only in integral multiples of 64,000 4,000 Corporate Units.

Appears in 1 contract

Samples: Pledge Agreement (Chubb Corp)

Pledged Senior Notes or the Pledged Applicable Ownership Interests in the case of a Holder. of Corporate Units or (2) Pledged Treasury Securities, in the case of a Holder of Treasury Units, in each case with a Value equal to the product of (x) the Stated Amount times (y) the number of Purchase Contracts Warrants as to which such Holder has elected to effect Early Settlement or Cash Merger Early Settlement, and shall instruct the Securities Intermediary to Transfer all such Pledged Applicable Ownership Interests or Pledged Senior Notes or Pledged Treasury Securities, as the case may be, to the Purchase Contract Warrant Agent for distribution to such Holder, in each case free and clear of the Pledge created hereby. A holder of Treasury Units may settle early only in integral multiples of 40 Treasury Units, and a Holder of Corporate Units, if the Treasury Portfolio has replaced the Senior Notes represented by such Corporate Units, may settle early only in integral multiples of 64,000 4,000 Corporate Units.

Appears in 1 contract

Samples: Pledge Agreement (Chubb Corp)

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Pledged Senior Notes or the Pledged Applicable Ownership Interests in the case of a Holder. of Corporate Units or (2) Pledged Treasury Securities, in the case of a Holder of Treasury Units, in each case with a Value equal to the product of (x) the Stated Amount times (y) the number of Purchase Contracts as to which such Holder has elected to effect Early Settlement or Cash Merger Early Settlement, and shall instruct the Securities Intermediary to Transfer all such Pledged Applicable Ownership Interests or Pledged Senior Notes or Pledged Treasury Securities, as the case may be, to the Purchase Contract Agent for distribution to such Holder, in each case free and clear of the Pledge created hereby. A holder of Treasury Units may settle early only in integral multiples of 40 20 Treasury Units, and a Holder of Corporate Units, if the Treasury Portfolio has replaced the Senior Notes represented by as a component of such Corporate Units, may settle early only in integral multiples of 64,000 20,000 Corporate Units.

Appears in 1 contract

Samples: Pledge Agreement (Baxter International Inc)

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