Common use of Transfer and Exchange of Definitive Securities for Beneficial Interests in the Global Securities Clause in Contracts

Transfer and Exchange of Definitive Securities for Beneficial Interests in the Global Securities. (i) Transfer or Exchange of Definitive Securities to Beneficial Interests in Global Securities. A Holder of a Definitive Security may exchange such Definitive Security for a beneficial interest in a Global Security or transfer such Definitive Security to a Person who takes delivery thereof in the form of a beneficial interest in a Global Security at any time. Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Definitive Security and increase or cause to be increased in a corresponding amount pursuant to Section 2.8(h) hereof the aggregate principal amount of one of the Global Securities.

Appears in 2 contracts

Samples: Senior Indenture (Markel Corp), Subordinated Indenture (Alterra Finance LLC)

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Transfer and Exchange of Definitive Securities for Beneficial Interests in the Global Securities. (i) Transfer or Exchange of Definitive Securities to Beneficial Interests in Global Securities. A Holder holder of a Definitive Security may exchange such Definitive Security for a beneficial interest in a Global Security or transfer such Definitive Security to a Person who takes delivery thereof in the form of a beneficial interest in a Global Security at any time. Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Definitive Security and increase or cause to be increased in a corresponding amount pursuant to Section 2.8(h) hereof the aggregate principal amount of one of the Global Securities.

Appears in 2 contracts

Samples: Subordinated Indenture (Max USA Holdings Ltd.), Senior Indenture (Max USA Holdings Ltd.)

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