Upon Cash Settlement of any Purchase Contract. (i) the Collateral Agent will in accordance with the terms of the Pledge Agreement cause the Pledged Notes underlying the relevant Corporate Units to be released from the Pledge, free and clear of any security interest of the Company, and transferred to the Purchase Contract Agent for delivery to the Holder thereof or its designee as soon as practicable; and
Appears in 2 contracts
Samples: Purchase Contract Agreement (Phoenix Companies Inc/De), Purchase Contract Agreement (Scottish Annuity & Life Holdings LTD)
Upon Cash Settlement of any Purchase Contract. (i) the Collateral Agent will in accordance with the terms of the Pledge Agreement cause the Pledged Senior Notes underlying the relevant Corporate Units to be released from the Pledge, free and clear of any security interest of the Company, and transferred to the Purchase Contract Agent for delivery to the Holder thereof or its designee as soon as practicable; and
Appears in 1 contract
Samples: Purchase Contract Agreement (Hartford Financial Services Group Inc/De)
Upon Cash Settlement of any Purchase Contract. (i) the Collateral Agent will in accordance with the terms of the Pledge Agreement cause the Pledged Senior Notes underlying the relevant Corporate Units to be released from the Pledge, free and clear of any security interest of the Company, and transferred to the Purchase Contract Agent for delivery to the Holder thereof or its designee as soon as practicable; and
Appears in 1 contract
Samples: Purchase Contract Agreement (Hartford Financial Services Group Inc/De)
Upon Cash Settlement of any Purchase Contract. (i) the Collateral Agent will in accordance with the terms of the Pledge Agreement cause the Pledged Notes Convertible Preferred Shares underlying the relevant Corporate Hybrid Capital Units to be released from the Pledge, free and clear of any security interest of the Company, and transferred to the Purchase Contract Agent for delivery to the Holder thereof or its designee as soon as practicable; and
Appears in 1 contract
Samples: Purchase Contract Agreement (Scottish Re Group LTD)