Exchange Trust definition
Examples of Exchange Trust in a sentence
The Classes of Certificates identified as such, and issued under, the Exchange Trust Agreement.
No service charge shall be made to a Certificateholder for any exchange of Certificates (except as provided in the Exchange Trust Agreement), but the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any exchange of Certificates.
The Underlying REMIC Certificates shall be issued in uncertificated form to the Underwriter and transferred by the Underwriter to the Exchange Trustee to be held in trust pursuant to terms of the Exchange Trust Agreement.
The Trustee shall not be responsible for the legality or validity of this Agreement or the Exchange Trust Agreement or the validity, priority, perfection or sufficiency of the security for the Certificates or the Lower Tier REMIC 1 Uncertificated Regular Interests issued or intended to be issued hereunder.
Notwithstanding the foregoing, until such Exchangeable Share Consideration is delivered to the holder, the holder shall be deemed to still be a holder of Exchangeable Shares for purposes of all voting rights with respect thereto under the Voting and Exchange Trust Agreement.
Notwithstanding the foregoing, until such payment or deposit of such Exchangeable Share Consideration is made, the holder shall be deemed to still be a holder of Exchangeable Shares for purposes of all voting rights with respect thereto under the Voting and Exchange Trust Agreement.
No service charge shall be made to the Certificateholder for any registration, transfer or exchange of Certificate, except as provided in the Exchange Trust Agreement.
Any portion of the Exchange Trust which remains undistributed to Company Shareholders for one (1) year after the Effective Date shall be delivered to Parent, upon demand thereby, and holders of Company Common Shares who have not theretofor complied with this Section 2.2 shall thereafter look only to Parent for payment of any claim to shares of Common Stock, cash in lieu of fractional shares thereof, or dividends or distributions, if any, in respect thereof.
The Exchange Agent shall invest any cash included in the Exchange Trust, as directed by Parent, on a daily basis.
Any portion of the Exchange Fund or the Exchange Trust that remains unclaimed by the holders of Company Certificates one year after the Effective Time shall be delivered by the Exchange Agent to Parent upon demand.