Rights of Holders of Treasury MCAPS to Receive Excess Proceeds Sample Clauses

Rights of Holders of Treasury MCAPS to Receive Excess Proceeds. The Stock Purchase Contract Agent shall pay, solely out of the funds received from the Collateral Agent for such purpose pursuant to Section 5.5 of the Collateral Agreement, on each Quarterly Date, an amount in cash equal to the excess of the net proceeds received by the Collateral Agent upon the maturity of the related Pledged Treasury Securities over the net purchase price of the Qualifying Treasury Securities purchased therewith pursuant to Section 5.5 of the Collateral Agreement to the Person in whose name a Treasury MCAPS Certificate is registered at the close of business on the Record Date relating to such Quarterly Date. Such amounts will be payable at the office of the Stock Purchase Contract Agent in the Borough of Manhattan, New York City maintained for that purpose. If the book entry system for the MCAPS has been terminated, such payments will be payable, at the option of the Company, by check mailed to the address of the Person entitled thereto at such Person’s address as it appears on the Security Register, or by wire transfer to the account designated by such Person by a prior written notice to the Stock Purchase Contract Agent.