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

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.
Outside Directors' and Trustees' transactions in Excepted Securities are excepted from the provisions of this Code.
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.
Transactions in Excepted Securities do not require prior approval or reporting.

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: (a) shares of Common Stock or Derivative Securities issued as a dividend or distribution on the Series B Preferred Stock; (b) shares of Common Stock or Derivative Securities issued by reason of a dividend, stock split, split-up or other distribution on shares of Common Stock; (c) shares of Common Stock or Derivative Securities issued to employees or directors of, or consultants or advisors to, the Company or any of its subsidiaries pursuant to a plan, agreement or arrangement approved by the Board of Directors of the Company (including shares of Common Stock issuable with respect to said Derivative Securities); (d) shares of Common Stock or Derivative Securities issued or issuable upon the exercise or conversion of Derivative Securities, including the Convertible Note and the Warrant, outstanding immediately following the closing under the Purchase Agreement; (e) shares of Common Stock or Derivative Securities issued to banks, equipment lessors or other financial institutions, or to real property lessors, pursuant to a debt financing, equipment leasing or real property leasing transaction approved by the Board; (f) shares of Common Stock or Derivative Securities issued to suppliers or third party service providers in connection with the provision of goods or services pursuant to transactions approved by the Board; or (g) shares of Common Stock or Derivative Securities issued pursuant to the acquisition of another corporation by the Company by merger, purchase of substantially all of the assets or other reorganization or to a joint venture agreement pursuant to transactions approved by the Board.

Excepted Securities. ARE BANKERS' ACCEPTANCES, BANK CERTIFICATES OF DEPOSIT, COMMERCIAL PAPER, AND OTHER HIGH QUALITY SHORT-TERM DEBT INSTRUMENTS, INCLUDING REPURCHASE 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 XXXX 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 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. ALSO PLEASE NOTE THAT U.S. GOVERNMENT AGENCY SECURITIES ARE NOT CONSIDERED "EXCEPTED SECURITIES".

Excepted Securities means (i) shares of Common Stock (or options therefor) issued, granted or sold to directors or employees of, or consultants to, the Corporation under any bona fide stock option or equity incentive plan approved by the Board of Directors, (ii) shares of Common Stock issued by the Corporation 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, and (iv) securities issued in connection with a stock split or stock dividend or pursuant to a reverse stock split or stock combination, provided that such reverse stock split or stock combination does not have a material effect on the proportionate interests of the Shareholders.

Excepted Securities means (a) cashflow structured finance obligations not rated by Standard & Poor's the cash flow of which is primarily from non-U.S. sources, (b) securities guaranteed by a corporate guarantor, (c) collateralized debt obligations the underlying collateral of which consists primarily of real estate obligations and structured finance obligations, (d) collateralized bond obligations the underlying collateral of which consists primarily of collateralized debt obligations, (e) collateralized bond obligations the underlying collateral of which is distressed debt,

Excepted Securities definition

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