Securities Not Separable Clause Samples
The 'Securities Not Separable' clause establishes that the components of a bundled security, such as shares and attached warrants or rights, must be treated as a single, indivisible unit and cannot be sold, transferred, or exercised independently. In practice, this means that an investor who acquires a unit consisting of multiple financial instruments cannot separate and trade the individual parts on their own; for example, they cannot sell the warrant while retaining the share. This clause ensures the integrity of the original investment structure, preventing fragmentation and maintaining the intended risk and reward profile for both issuers and investors.
Securities Not Separable. Notwithstanding anything contained herein or in the Security Certificates to the contrary, for so long as the Purchase Contract underlying a Security remains in effect such Security shall not be separable into its constituent parts, and the rights and obligations of the Holder of such Security in respect of the Pledged Securities and Purchase Contracts constituting such Security may be acquired, and may be transferred and exchanged, only as a Security. Other than a Security Certificate evidencing a Security, no Holder of a Security, or any transferee thereof, shall be entitled to receive a certificate evidencing the ownership of Pledged Securities or the rights and obligations of the Holder and the Company under a Purchase Contract for so long as the Purchase Contract underlying the Security remains in effect.
Securities Not Separable. Notwithstanding anything contained herein or in the Security Certificates to the contrary, for so long as the Purchase Contract comprising a portion of a Security remains in effect, such Security shall not be separable into its constituent parts, for purposes of transfer or exchange of such Security, and the rights and obligations of the Holder of such Security in respect of the Treasury Notes and Purchase Contracts comprising such Security may be acquired, and may be transferred and exchanged, only as a Security. Other than a Security Certificate evidencing a Security, no Holder of a Security, or any Transferee thereof, shall be entitled to receive a certificate evidencing the ownership of Treasury Notes or the rights and obligations of the Holder and the Company under a Purchase Contract for so long as the Purchase Contract underlying the Security remains in effect.
Securities Not Separable. 19 Section 3.10. No Consent to Assumption.................................................... 19
Securities Not Separable. 25 Section 3.10. No Consent to Assumption...............................25 Section 3.11. Cusip Numbers..........................................25