Substantially contemporaneously. with the execution and delivery of this Certificate, the Trustee has established and will maintain the Securities Account with the Securities Intermediary. The Securities Intermediary has received $11,875,000 from the net proceeds from the sale of the Notes and has used those funds to purchase Pledged Securities (or intends to do so as soon as practicable). The Securities Intermediary has made or will (upon purchase of the Pledged Securities) make appropriate book entries in its records establishing that the Pledged Securities and the Trustee's Securities Entitlement thereto have been credited to and are held in the Securities Account.
Appears in 2 contracts
Samples: Security and Control Agreement (Waterford Gaming Finance Corp), Security and Control Agreement (Waterford Gaming LLC)
Substantially contemporaneously. with the execution and delivery of this Certificate, the Trustee has established and will maintain the Securities Account with the Securities Intermediary. The Securities Intermediary has received $11,875,000 $ from the net proceeds from the sale of the Notes and has used those funds to purchase Pledged Securities (or intends to do so as soon as practicable). The Securities Intermediary has made or will (upon purchase of the Pledged Securities) make appropriate book entries in its records establishing that the Pledged Securities and the Trustee's Securities Entitlement thereto have been credited to and are held in the Securities Account.
Appears in 1 contract
Samples: Security and Control Agreement (Independent Wireless One Corp)
Substantially contemporaneously. with the execution and delivery of this Certificate, the Trustee has established and will maintain the Securities Account with the Securities Intermediary. The Securities Intermediary has received $11,875,000 6,684,375 from the net proceeds from the sale of the Notes and has used those funds to purchase Pledged Securities (or intends to do so as soon as practicable). The Securities Intermediary has made or will (upon purchase of the Pledged Securities) make appropriate book entries in its records establishing that the Pledged Securities and the Trustee's Securities Entitlement thereto have been credited to and are held in the Securities Account.
Appears in 1 contract
Samples: Security and Control Agreement (Waterford Gaming LLC)