Excepted Securities are shares of the Funds, banker's acceptances, bank certificates of deposit, commercial paper, shares of registered open-end investment companies and U.S. Government securities.

Excepted Securities means direct obligations of the U.S. government (e.g., treasury securities), bankers' acceptances, bank certificates of deposit, commercial paper, and high quality short-term debt obligations, including repurchase agreements; shares issued by money market funds; shares of open-end mutual funds that are not advised or sub-advised by KAR, and are not affiliated with KAR; shares issued by unit investment trusts that are invested exclusively in one or more open-end funds, none of which are funds advised or sub-advised by KAR.

Excepted Securities means (i) securities of the Company issued upon the conversion or exercise of any currently issued debenture, warrant, option, or other convertible security and that have not been amended to either reduce their conversion or exercise price and/or to increase the number of shares issuable upon any such exercise or conversion; (ii) Common Stock issuable upon a stock split, stock dividend, or any subdivision of shares of Common Stock; (iii) shares of Common Stock (or options to purchase such shares of Common Stock) issued or issuable to employees or directors of, or consultants to, the Company pursuant to any plan approved by the Board of Directors and shareholders; (iv) securities of the Company issued in connection with business combinations with a business that the Company, in good faith, determines to be synergistic with the Company; and (v) securities of the Company issued in strategic transactions in which the Board of Directors expects, in good faith, to derive substantial benefits, so long as such transactions are not for the principal purpose of raising capital

Examples of Excepted Securities in a sentence

Outside Directors' and Trustees' transactions in Excepted Securities are excepted from the provisions of this Code.
Except as provided in Sections V and VI of this Code, all proposed transactions in securities (privately or publicly owned) by Covered Persons, except transactions in Excepted Securities and Excepted Transactions, should be approved consistent with the provisions of this Code.
Excepted from this reporting requirement are transactions effected in any accounts over which the Covered Person has no direct or indirect influence or control and transactions in Excepted Securities.
Outside Directors’ and Trustees’ transactions in Excepted Securities are excepted from the provisions of this Code.
Except as provided in Sections V and VI of this Code, all proposed transactions in securities (privately or publicly held and/or traded) by Covered Persons, or with respect to which a Covered Person is a Beneficial Owner, except transactions in Excepted Securities and Excepted Transactions, should be approved consistent with the provisions of this Code.

More Definitions of Excepted Securities

Excepted Securities means (i) Shares (or options therefor) issued, granted or sold to directors, officers, employees or representatives of, or consultants or advisors to, the Company under any stock plan approved by the Board; (ii) Shares issued by the Company in a bona fide underwritten public offering registered under the Securities Act, (iii) securities issued pursuant to the conversion or exercise of convertible or exercisable securities, (iv) securities issued in connection with a stock split or stock dividend or pursuant to a reverse stock split, and (v) securities listed, granted or sold with the consent of the holders of a majority of the then outstanding Employee Shares.

Excepted Securities means the following shares of Common Stock, Derivative Securities and shares of Common Stock issuable upon the exercise or conversion of such Derivative Securities:

Excepted Securities. ARE BANKERS' ACCEPTANCES, BANK CERTIFICATES OF DEPOSIT, COMMERCIAL PAPER, AND OTHER HIGH QUALITY SHORT-TERM DEBT INSTRUMENTS, INCLUDING REPURCHASE Lord, Xxxxxx & Co. Code of Ethics--, Octomber 24, 2006 AGREEMENTS, SHARES OF MONEY MARKET FUNDS, SHARES OF OTHER U.S. REGISTERED OPEN-END INVESTMENT COMPANIES (OTHER THAN THE LORD XXXXXX FUNDS OR OTHER FUNDS FOR WHICH LORD XXXXXX ACTS AS THE INVESTMENT ADVISER OR SUB-ADVISER) AND DIRECT OBLIGATIONS OF THE U.S. GOVERNMENT. TRANSACTIONS IN EXCEPTED SECURITIES DO NOT REQUIRE PRIOR APPROVAL OR REPORTING. PLEASE NOTE THAT SHARES OF CLOSED-END INVESTMENT COMPANIES, EXCHANGE TRADED UNIT-INVESTMENT TRUSTS ("UITS") AND EXCHANGE TRADED FUNDS ("ETFS") ARE ALL TREATED AS COMMON STOCK UNDER THE CODE. ALSO PLEASE NOTE THAT THE EXCEPTION FOR OTHER MUTUAL FUNDS INCLUDES ONLY OPEN-END FUNDS REGISTERED IN THE U.S., AND THAT TRANSACTIONS AND HOLDINGS IN OFFSHORE FUNDS ARE REPORTABLE. IN ADDITION, EQUITY SECURITIES ISSUED BY U.S. GOVERNMENT AGENCIES, AUTHORITIES OR INSTRUMENTALITIES ARE NOT CONSIDERED "EXCEPTED SECURITIES."

Excepted Securities means (i) all shares of Common Stock issued or issuable pursuant to the stock options, warrants and other securities convertible or exchangeable into Common Stock which are outstanding on the date hereof and set forth on Exhibit A (which disclosure on Exhibit A shall identify each such option, warrant and other security and the issuer and holder, number thereof, the exercise, conversion or exchange rights relating thereto, and the number of shares of Common Stock issuable thereunder as of the date hereof); provided, however, that any amendment after the date of -------- ------- this Warrant of the terms of such outstanding options, warrants or other securities that decreases the price per share of Common Stock to be received by the Company upon exercise, conversion or exchange thereof shall constitute the issuance or sale of a new Convertible Security for purposes of this Warrant; and (ii) any Common Stock issued pursuant to this Warrant and the Warrant Agreement.