Examples of Automatic Exchange Event in a sentence
The Trust need not give notice of redemption prior to the exercise of such right of redemption if TCPL has given an Automatic Exchange Event Notice.
The Automatic Exchange shall occur upon an Automatic Exchange Event (the “Exchange Time”).
Upon no less than three Business Days’ notice by the Holdco Notes Issuer to the trustee under the Holdco Notes Indenture of the occurrence of the Automatic Exchange Event, all of the then outstanding amount of Holdco Notes will be automatically exchanged for an equal aggregate principal amount of Additional Notes to be issued by the Issuers under the Indenture (the “Automatic Exchange Transaction”).
The parties acknowledge that, as set out in the Trust Indenture, TCPL has reserved the right not to deliver TCPL Exchange Preferred Shares to any Ineligible Person following an Automatic Exchange or in connection with a redemption of the Trust Notes — Series 2016-A following an Automatic Exchange Event.
Estimated commencement Rental $11,645,898 per annum.Years 2-9: Greater of CPI or 3.75%Rent ReviewsYear 10: Market review, minimum 5%, maximum 7% Years 11-15: Greater of CPI or 3.75%Premises and Permitted Use Commercial offices and other related uses permitted by law.That portion of the outgoings which the net lettable area of the premises bears to the totalOutgoings and maintenancenet lettable area of the Building.
Subject to the provisions of this Article 4, TCPL hereby grants to the Trust the right to subscribe at any time for such number of TCPL Exchange Preferred Shares (including fractional shares, if applicable) as may be necessary in order to enable the Trust to redeem, for TCPL Exchange Preferred Shares, Trust Notes — Series 2017-A, if any, that remain outstanding following the occurrence of an Automatic Exchange Event, as provided for herein and in the Trust Indenture.
As soon as practicable following receipt by the U.S. Trustee from the Issuer of an Automatic Exchange Event Notice, the U.S. Trustee shall deliver notice to the Holders of Notes of the occurrence of the Automatic Exchange; provided, however, that a failure to make such delivery shall not affect, reduce or modify in any way the effectiveness of the Automatic Exchange with effect as of the Exchange Time.
Subject to the provisions of this Article 4, TCPL hereby grants to the Trust the right to subscribe at any time for such number of TCPL Exchange Preferred Shares (including fractional shares, if applicable) as may be necessary in order to enable the Trust to redeem, for TCPL Exchange Preferred Shares, Trust Notes — Series 2016-A, if any, that remain outstanding following the occurrence of an Automatic Exchange Event, as provided for herein and in the Trust Indenture.
Subject to the provisions of this Article 4, TCPL hereby grants to the Trust the right to subscribe at any time for such number of TCPL Exchange Preferred Shares (including fractional shares, if applicable) as may be necessary in order to enable the Trust to redeem, for TCPL Exchange Preferred Shares, Trust Notes — Series 2019-A, if any, that remain outstanding following the occurrence of an Automatic Exchange Event, as provided for herein and in the Trust Indenture.
Upon the occurrence of an Automatic Exchange Event (such time, the “Exchange Time”), the Notes, including accrued and unpaid interest thereon, will be exchanged automatically (the “Automatic Exchange”), without the consent of the Holders thereof, into Exchange Preferred Units.