Substitute Securities Sample Clauses

Substitute Securities. In the event that any Contract --------------------- Security or Security to be purchased pursuant to a contract entered into by the Trustee in accordance with Section 2.5 is not delivered due to any occurrence, act or event beyond the control of the Depositors and of the Trustee (such a Contract Security being herein called a "Failed Security"), the Depositors may instruct the Trustee to purchase Substitute Securities which have been selected by the Depositors having a cost not in excess of the cost of the Failed Securities. To be eligible for inclusion in the Trust, the Substitute Securities which the Depositors select must: (a) be of the same type as that replaced (e.g., both will be common stock or preferred stock); (b) in the ---- Depositors' judgment, be substantially similar to the Failed Security, as the case may be, as respects the investment characteristics which led the Depositors to select the Failed Security for inclusion in the Trust; and (c) be purchased prior to, simultaneously with, or no more than twenty days after delivery of written notice to the Trustee or Depositors, as appropriate, of the failed contract (the "Failed Contract Notice"). Any Substitute Securities received by the Trustee shall be deposited hereunder and shall be subject to the terms and conditions of this Indenture to the same extent as other Securities deposited hereunder. No such deposit of Substitute Securities shall be made after the earlier of (i) 90 days after the date of execution and delivery of the applicable Reference Trust Agreement or (ii) the first Distribution Date to occur after the date of execution and delivery of the applicable Reference Trust Agreement. Whenever a Substitute Security is acquired by the Trust pursuant to the provisions of this Section 3.7, the Trustee shall, within five days thereafter, mail to all Unitholders notices of such acquisition, including an identification of the Failed Security and the Substitute Security acquired. The purchase price of a Substitute Security shall be paid out of the funds in the Principal Account attributable to the Failed Security which it replaces. The Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of any purchase made pursuant to any such instructions from the Depositors and in the absence of such instructions the Trustee shall have no duty to purchase any Substitute Securities under this Indenture. The Depositors shall not be liable for any failure to in...

Substitute Securities. So long as any Secured Obligations remain outstanding, in the event that Borrower sells or disposes of any Pledged Securities, Borrower will promptly provide substitute securities of equal or greater value to such Pledged Securities or cash or cash equivalents or any combination thereof.

Substitute Securities. The Company reserves the right to issue shares of a new series of Preferred Stock which shall be convertible into non-voting Common Stock and/or Warrants in lieu of the issuance of the Shares and Warrants referenced in (a) and (b) above.

Substitute Securities. The Substitute Securities will be creditworthy to the same or a higher degree than the Municipal Securities.

Substitute Securities. 18 Section 3.8. Sale of Securities........................................................................19 Section 3.9. Counsel...................................................................................20 Section 3.10. Notice and Sale by Trustee...............................................................20 Section 3.11. Reorganization and Similar Events........................................................20 Section 3.12.

Substitute Securities. So long as there remain outstanding any shares of Class C Common Stock, the Company shall permit a Preemptive Offeree to purchase, in lieu of shares of Class A Common Stock (or rights to acquire the same, as the case may be) to be issued in the proposed Issuance, (i) shares of Class C Common Stock (or rights to acquire the same, as the case may be) in the case of Telmex, and (ii) shares of Class D Common Stock (or rights to acquire the same, as the case may be) in the case of Forstmann Little (in the case of either clause (i) or (ii), “Substitute Securities”); provided, however, that, to the extent that there are not sufficient shares of Class C Common Stock or Class D Common Stock, as the case may be, authorized by the Certificate of Incorporation, the Preemptive Offeree may purchase the securities to be issued in the proposed Issuance and the terms of the proposed Issuance shall be adjusted accordingly to allow the Preemptive Offeree to convert such securities into Substitute Securities as soon as reasonably practicable after such shares of Class C Common Stock or Class D Common Stock are so authorized. The Company shall take such further action (to the extent consistent with applicable law) as shall be necessary to ensure that there is available out of its authorized but unissued shares of Common Stock such number of its shares of Common Stock as shall be sufficient to effect the issuance of Substitute Securities. If a Preemptive Offeree elects to purchase Substitute Securities pursuant to this Section 7.2, the number of securities to be issued to such Preemptive Offeree, the purchase price therefor and the other material terms of the proposed Issuance shall be adjusted accordingly to preserve the economics of the securities.

Substitute Securities. In the event that any Contract --------------------- Security or Security to be purchased pursuant to a contract entered into by the Trustee in accordance with Section 2.5 is not delivered due to any occurrence, act or event beyond the control of the Depositors and of the Trustee (such a Contract Security being herein called a "Failed Security"), the Depositors may instruct the Trustee to purchase Substitute Securities which have been selected by the Depositors having a cost not in excess of the cost of the Failed Securities. To be eligible for inclusion in the Trust, the Substitute Securities which the Depositors select must: (a) be of the same type as that replaced (e.g., both will be common stock or preferred stock); (b) in the ---- Depositors' judgment, be substantially similar to the Failed Security, as the case may be, as respects the investment characteristics which led the Depositors to select the Failed Security for inclusion in the Trust; and

Substitute Securities. In the event that an offer by the issuer of any of the Securities held in the Portfolio shall be made to issue new securities in exchange or substitution for any issue of Securities, the Trustee shall not accept such offer or take any other action with respect thereto until such time as it has been determined that the securities of the issuer will be removed from the Index. In the event that a security of an issuer is removed from the Index as a result of the consummation of merger or acquisition activity of such issuer and the Trust receives cash in exchange for the Security of such issuer held in the Portfolio, the Trustee shall reinvest such cash in Index Securities as provided in Section 2.

Substitute Securities. In the event that any Contract Security is not delivered due to any occurrence, act or event beyond the control of the Depositor and of the Trustee (such a Contract Security being herein called a "Failed Security"), the Depositor may instruct the Trustee to purchase Substitute Securities which have been selected by the Depositor having a cost not in excess of the cost of the Failed Securities. To be eligible for inclusion in the Trust, the Substitute Securities which the Depositor selects must: (A) be of the same type as that replaced (e.g., both will be common stock or preferred stock); (B) in the Depositor's judgment, be substantially similar to the Failed Security, as the case may be, as respects the investment characteristics which led the Depositor to select the Failed Security for inclusion in the Trust; and (C) be purchased prior to, simultaneously with, or no more than twenty days after delivery of written notice to the Trustee of the failed contract (the "Failed Contract Notice"). Any Substitute Securities received by the Trustee shall be deposited hereunder and shall be subject to the terms and conditions of this Indenture to the same extent as other Securities deposited hereunder. No such deposit of Substitute Securities shall be made after the earlier of (i) 90 days after the date of execution and delivery of the applicable Reference Trust Agreement or (ii) the first Payment Date to occur after the date of execution and delivery of the applicable Reference Trust Agreement.

Substitute Securities. 36 Section 3.08 Counsel..............................................................36 Section 3.09