Pro Rata Reduction of Call. Warrants if Partial Redemption of Underlying Securities. If Underlying Securities are redeemed in part by the Underlying Securities Issuer and the Warrant Holders do not exercise their Call Rights in connection with such partial redemption, the Warrant Amount or Registered Warrant Amount, as the case may be, held by each Warrant Holder shall be reduced proportionately so that the aggregate amount of Class A-1 Certificates callable by Call Warrants shall equal the amount of outstanding Class A-1 Certificates after giving effect to such partial redemption and the aggregate notional amount of Class A-2 Certificates callable by Call Warrants shall equal the outstanding notional amount of Class A-2 Certificates after giving effect to such partial redemption. The Warrant Agent shall make such adjustments to its records as shall be necessary to reflect such reductions and shall notify the Depository or each Warrant Holder, as the case may be, of such adjustments.
Appears in 16 contracts
Samples: Warrant Agent Agreement (Lehman Abs Corp Cna Financial Debenture Back Ser 03 10), Warrant Agent Agreement (Lehman Abs Corp At&t Note Backed Series 2004 2 Class a 1), Warrant Agent Agreement (Lehman Abs Corp Cna Financial Debenture Back Ser 03 10)
Pro Rata Reduction of Call. Warrants if Partial Redemption of Underlying Securities. If Underlying Securities are redeemed in part by the Underlying Securities Issuer and the Warrant Holders do not exercise their Call Rights in connection with such partial redemption, the Warrant Amount or Registered Warrant Amount, as the case may be, held by each Warrant Holder shall be reduced proportionately so that the aggregate amount of Class A-1 Certificates callable by Call Warrants shall equal the amount of outstanding Class A-1 Certificates after giving effect to such partial redemption and the aggregate notional amount Certificate Principal Balance of Class A-2 Certificates callable by Call Warrants shall equal the outstanding notional amount Certificate Principal Balance of Class A-2 Certificates after giving effect to such partial redemption. The Warrant Agent shall make such adjustments to its records as shall be necessary to reflect such reductions and shall notify the Depository or each Warrant Holder, as the case may be, of such adjustments.
Appears in 6 contracts
Samples: Warrant Agent Agreement (Lehman Abs Corp Sprint Capital Back Ser 2003 17 Class a 1), Warrant Agent Agreement (Lehman Abs Corp Sprint Capital Back Ser 2003 17 Class a 1), Warrant Agent Agreement (Lehman Abs Corp Bellsouth Debt- Backed Ser 2003-14)
Pro Rata Reduction of Call. Warrants if Partial Redemption of Underlying Securities. If Underlying Securities are redeemed in part by the Underlying Securities Issuer and the Warrant Holders do not exercise their Call Rights in connection with such partial redemption, the Warrant Amount or Registered Warrant Amount, as the case may be, held by each Warrant Holder shall be reduced proportionately so that the aggregate amount of Class A-1 Certificates callable by Call Warrants shall equal the amount of outstanding Class A-1 Certificates after giving effect to such partial redemption and the aggregate notional amount of Class A-2 Certificates callable by Call Warrants shall equal the outstanding notional amount of Class A-2 Certificates after giving effect to such partial redemption. The Warrant Agent shall make such adjustments to its records as shall be necessary to reflect such reductions and shall notify the Depository or each Warrant Holder, as the case may be, of such adjustments.
Appears in 2 contracts
Samples: Warrant Agent Agreement (Lehman Abs Corp Goldman Sachs Cap 1 Sec BCK Ser 2004-7 Class A1), Series Supplement (Lehman Abs Corp Daimlerchrysler Debenture-Backed Series 2004-8)
Pro Rata Reduction of Call. Warrants if Partial Redemption of Underlying Securities. If Underlying Securities are redeemed in part by the Underlying Securities Issuer and the Warrant Holders do not exercise their Call Rights in connection with such partial redemption, the Warrant Amount or Registered Warrant Amount, as the case may be, held by each Warrant Holder shall be reduced proportionately so that the aggregate amount of Class A-1 Certificates callable by Call Warrants shall equal the amount of outstanding Class A-1 Certificates after giving effect to such partial redemption and redemption, the aggregate notional amount of Class A-2 Certificates callable by Call Warrants shall equal the outstanding notional amount of Class A-2 Certificates after giving effect to such partial redemption, the aggregate amount of Class A-3 Certificates callable by Call Warrants shall equal the principal amount of outstanding Class A-3 Certificates after giving effect to such partial redemption. The Warrant Agent shall make such adjustments to its records as shall be necessary to reflect such reductions and shall notify the Depository or each Warrant Holder, as the case may be, of such adjustments.
Appears in 2 contracts
Samples: Warrant Agent Agreement (Lehman Abs Corp Boeing Securities Back Ser 2003 16 Class a 1), Warrant Agent Agreement (Lehman Abs Corp Boeing Securities Back Ser 2003 16 Class a 1)
