Common use of Restrictions on Transfer of a Certificated Note for a Beneficial Interest in a Global Note Clause in Contracts

Restrictions on Transfer of a Certificated Note for a Beneficial Interest in a Global Note. Subject to certain conditions, the Notes represented by the global securities will be exchangeable for certificated Notes in definitive form of like tenor as such Notes if (1) the Depositary notifies the Issuer that it is unwilling or unable to continue as Depositary for the Global Note and a successor is not promptly appointed or if at any time the Depositary ceases to be a clearing agency registered under the Exchange Act or (2) the Issuer in its discretion at any time determines not to have all of the Notes represented by the global securities. Any Notes that are exchangeable pursuant to the preceding sentence will be exchanged for certificated Notes issuable in authorized denominations and registered in such names as the Depositary shall direct.

Appears in 2 contracts

Samples: Second Supplemental Indenture (Solutia Inc), First Supplemental Indenture (Solutia Inc)

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Restrictions on Transfer of a Certificated Note for a Beneficial Interest in a Global Note. Subject to certain conditions, the Notes represented by the global securities will be exchangeable for certificated Notes in definitive form of like tenor as such Notes if (1) the Depositary notifies the Issuer Issuers that it is unwilling or unable to continue as Depositary for the Global Note and a successor is not promptly appointed or if at any time the Depositary ceases to be a clearing agency registered under the Exchange Act or (2) the Issuer Issuers in its their discretion at any time determines not to have all of the Notes represented by the global securities. Any Notes that are exchangeable pursuant to the preceding sentence will be exchanged for certificated Notes issuable in authorized denominations and registered in such names as the Depositary shall direct.

Appears in 1 contract

Samples: First Supplemental Indenture (Penn Virginia Resource Partners L P)

Restrictions on Transfer of a Certificated Note for a Beneficial Interest in a Global Note. Subject to certain conditions, the Notes represented by the global securities will be exchangeable for certificated Notes in definitive form of like tenor as such Notes if (1) the Depositary notifies the Issuer that it is unwilling or unable to continue as Depositary for the Global Note Notes and a successor depository is not promptly appointed by the Issuer within 90 days or if at any time the Depositary ceases to be a clearing agency registered under the Exchange Act or (2) the Issuer in its sole discretion at any time determines not to have all of the Notes represented by the global securitiesGlobal Notes. Any Notes that are exchangeable pursuant to the preceding sentence will be exchanged for certificated Notes issuable in authorized denominations and registered in such names as the Depositary shall direct.

Appears in 1 contract

Samples: Omnova Solutions Inc

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Restrictions on Transfer of a Certificated Note for a Beneficial Interest in a Global Note. Subject to certain conditions, the Notes represented by the global securities will be exchangeable for certificated Definitive Notes in definitive form of like tenor as such Notes if (1) the Depositary notifies the Issuer Issuers that it is unwilling or unable to continue as Depositary for the Global Note and a successor is not promptly appointed or if at any time the Depositary ceases to be a clearing agency registered under the Exchange Act or (2) the Issuer Issuers in its their discretion at any time determines not to have all of the Notes represented by the global securities. Any Notes that are exchangeable pursuant to the preceding sentence will be exchanged for certificated Definitive Notes issuable in authorized denominations and registered in such names as the Depositary shall direct.

Appears in 1 contract

Samples: Supplemental Indenture (Penn Virginia Resource Partners L P)

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