Corporate PIES definition
Examples of Corporate PIES in a sentence
Until so exchanged, the temporary Certificates shall in all respects evidence the same benefits and the same obligations with respect to the Corporate PIES or Treasury PIES, as the case may be, evidenced thereby as definitive Certificates.
Each Holder from time to time of the Corporate PIES which is a Plan hereby represents that its acquisition of the Corporate PIES and the holding of the same satisfies the applicable fiduciary requirements of ERISA and that it is entitled to exemption relief from the prohibited transaction provisions of ERISA and the Code in accordance with one or more prohibited transaction exemptions or otherwise will not result in a nonexempt prohibited transaction.
The definitive Corporate PIES Certificates shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the officers of the Company executing the Corporate PIES evidenced by such Corporate PIES Certificates, consistent with the provisions of this Agreement, as evidenced by their execution thereof.
At the option of the Holder, Certificates may be exchanged for other Certificates, of any authorized denominations and evidencing a like number of Corporate PIES or Treasury PIES, as the case may be, upon surrender of the Certificates to be exchanged at the Corporate Trust Office.
Holders who elect to recreate Corporate PIES shall be responsible for any fees or expenses payable to the Collateral Agent for its services as Collateral Agent in respect of the substitution, and the Company shall not be responsible for any such fees or expenses.
All Certificates issued upon any registration of transfer or exchange of a Certificate shall evidence the ownership of the same aggregate number of Corporate PIES or Treasury PIES, as the case may be, and be entitled to the same benefits and subject to the same obligations, under this Agreement as the Corporate PIES or Treasury PIES, as the case may be, evidenced by the Certificate surrendered upon such registration of transfer or exchange.
The Company hereby agrees, if applicable, to solicit Holders of Corporate PIES to timely instruct the Purchase Contract Agent in order to enable the Purchase Contract Agent to vote such Senior Notes.
Upon the occurrence of a Termination Event, the Company shall promptly but in no event later than two Business Days thereafter give written notice to the Purchase Contract Agent, the Collateral Agent and the Holders, at their addresses as they appear in the Corporate PIES Register.
A Corporate PIES shall thereafter represent the right to receive the Senior Note forming a part of such Corporate PIES in accordance with the terms of the Purchase Contract Agreement and the Pledge Agreement.
A Holder of Treasury PIES may recreate Corporate PIES by delivering to the Securities Intermediary Senior Notes with an aggregate principal amount equal to the aggregate principal amount at maturity of the Pledged Treasury Securities in exchange for the release of such Pledged Treasury Securities in accordance with the terms of the Purchase Contract Agreement and the Pledge Agreement.