Exchanged Security definition

Exchanged Security means an equity security which is delivered to the Issuer upon acceptance of an Offer in respect of a Defaulted Obligation or received by the Issuer as a result of restructuring of the terms in effect as of the later of the Issue Date and the date of acquisition of the relevant Portfolio Asset.
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Exchanged Security means any of (a) an equity security which is not a Collateral Enhancement Obligation and which is delivered to the Issuer upon acceptance of an Offer in respect of a Defaulted Obligation or received by the Issuer as a result of restructuring of the terms in effect as of the later of the Issue Date or date of issuance of the relevant Collateral Obligation and (b) a Collateral Obligation which has been restructured (whether effected by way of an amendment to the terms of such Collateral Obligation (including but not limited to an extension of its maturity) or by way of substitution of new obligations and/or change of Obligor which, in each case, may be effected by way of a "cashless roll") which does not satisfy the Restructured Obligation Criteria on the Restructuring Date and which is not a Dutch Ineligible Security.
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Exchanged Security means (a) an equity security which is not a Collateral Enhancement Obligation and which is delivered to the Issuer upon acceptance of an Offer in respect of a Defaulted Obligation or received by the Issuer in connection with a restructuring of the terms in effect after the later of the Issue Date of the Existing Notes and the date of acquisition of the relevant Collateral Debt Obligation, (b) a Collateral Debt Obligation which has been restructured (whether by way of an amendment to its terms or by way of a substitution or exchange of a new obligation and/or change of Obligor) which does not satisfy the Restructured Obligation Criteria on the Restructuring Date. For the avoidance of doubt, Exchanged Securities shall only include obligations (a) the acquisition (including the manner of acquisition), ownership, enforcement or disposition of which will not cause the Issuer to be treated as engaged in a trade or business within the United States for U.S. federal income tax purposes, (b) that are acquired, and held in a manner that does not violate the Investment Restrictions set out in the Investment Management Agreement, (c) the nature of which do not violate the Investment Restrictions set out in the Investment Management Agreement, and (d) in the case of an obligation of a company incorporated or established in, or a sovereign issuer of, the United States, or otherwise bearing interest that arises, for U.S. federal income tax purposes, from sources within the United States, are in registered form at the time they are acquired.
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Examples of Exchanged Security in a sentence

  • Under the Investment Management Agreement and as described herein, the Investment Manager may only, on behalf of the Issuer, dispose of a limited percentage of Collateral Debt Obligations in any period of 12 calendar months as well as any Collateral Debt Obligation that meets the definition of a Defaulted Obligation, an Exchanged Security and, subject to the satisfaction of certain conditions, a Credit Impaired Obligation or Credit Improved Obligation.

  • Under the Collateral Management and Administration Agreement and as described herein, the Collateral Manager may only, on behalf of the Issuer, dispose of a limited percentage of Collateral Obligations in any period of 12 calendar months as well as any Collateral Obligation that meets the definition of a Defaulted Obligation, an Exchanged Security and, subject to the satisfaction of certain conditions, a Credit Risk Obligation or Credit Improved Obligation.

  • Under the Collateral Management Agreement and as described herein, the Collateral Manager may only, on behalf of the Issuer, dispose of a limited percentage of Collateral Debt Obligations in any period of twelve calendar months as well as any Collateral Debt Obligation that meets the definition of a Defaulted Obligation, an Exchanged Security and, subject to the satisfaction of certain conditions, a Credit Impaired Obligation or Credit Improved Obligation.

  • In respect of any Exchanged Security, any excess sale proceeds over the outstanding principal amount of the related Collateral Obligation or part thereof, that was exchanged, converted or otherwise subject to the exercise of an option in connection with the acquisition of such Exchanged Security.

  • Although inquiry/response disclosures are effective in terms of market efficiency, which is intended by market regulators, they increase informed traders’ profits.

  • Under the Portfolio Management Agreement and as described herein, the Portfolio Manager may only, on behalf of the Issuer, dispose of a limited percentage of Collateral Debt Obligations in any period of 12 calendar months as well as any Collateral Debt Obligation that meets the definition of a Defaulted Obligation, an Exchanged Security and, subject to the satisfaction of certain conditions, a Credit Impaired Obligation or Credit Improved Obligation.

  • Such Investment Gains or Excess Exchanged Security Sale Proceeds will then be distributed as Interest Proceeds if the reinvestment of such amount would, in the sole discretion of the Investment Manager, cause (or would be likely to cause) a Retention Deficiency in accordance with the Priorities of Payments provided that the relevant conditions set out in Condition 3(j)(ii)(M) (Interest Account) are met.

  • Under the Investment Management and Collateral Administration Agreement and as described herein, the Investment Manager may only, on behalf of the Issuer, dispose of a limited percentage of Collateral Debt Obligations in any period of 12 calendar months as well as any Collateral Debt Obligation that meets the definition of a Defaulted Obligation, an Exchanged Security and, subject to the satisfaction of certain conditions, a Credit Impaired Obligation or Credit Improved Obligation.

  • Any Collateral Debt Obligation, Exchanged Security, Collateral Enhancement Obligation or Eligible Investment purchased by the Issuer pursuant to the provisions of the Investment Management Agreement shall, pursuant to the terms of Clause 5.1 (Charge and Assignment), immediately become subject to the security constituted by this Trust Deed.

  • Under the Investment Management Agreement and as described herein, the Investment Manager may only, on behalf of the Issuer, dispose of a limited percentage of Collateral Debt Obligations in any successive rolling twelve month period, as well as any Collateral Debt Obligation that meets the definition of a Defaulted Obligation, an Exchanged Security and, subject to the satisfaction of certain conditions, a Credit Impaired Obligation or Credit Improved Obligation.


More Definitions of Exchanged Security

Exchanged Security means the Company’s 1.5% convertible senior notes due March 1, 2024 issued pursuant to the indenture dated as of March 3, 2004 between the Company and U.S. Bank National Association, as trustee, that were exchanged by the holders thereof for Securities pursuant to the Exchange Offer.
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Exchanged Security means (i) the security actually exchanged pursuant to an exchange offer and (ii) any security exchanged for such security or for any of its predecessors;
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Exchanged Security means any of (a) an equity security or warrant, including any equity security received upon conversion or exchange of, or exercise of an option in respect of a Collateral Debt Obligation, the acquisition of which would not cause the breach of applicable selling or transfer restrictions relating to the offering of securities or of collective investment schemes and which is delivered to the Issuer upon acceptance of an Offer in respect of a Defaulted Obligation or received by the Issuer as a result of restructuring of the terms of a Defaulted Obligation in effect as of the later of the Issue Date and the date of issuance of the relevant Collateral Debt Obligation and (b) a Collateral Debt Obligation which has been restructured (whether effected by way of an amendment to the terms of such Collateral Debt Obligation or by way of substitution of new obligations and/or a change of Obligor) for so long as it does not satisfy the Restructured Obligation Criteria on the applicable Restructuring Date, provided that, if an Exchanged Security is a Dutch Ineligible Security, the Investment Manager shall sell such Dutch Ineligible Security in the manner described in the Investment Management Agreement.
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Related to Exchanged Security

  • Pledged Securities means any promissory notes, stock certificates or other securities now or hereafter included in the Pledged Collateral, including all certificates, instruments or other documents representing or evidencing any Pledged Collateral.

  • Unrestricted Certificated Security means a Certificated Security that is not a Restricted Security.

  • LCR Security means any commercial paper or security (other than equity securities issued to Parent or any Originator that is a consolidated subsidiary of Parent under GAAP) within the meaning of Paragraph .32(e)(viii) of the final rules titled Liquidity Coverage Ratio: Liquidity Risk Measurement Standards, 79 Fed. Reg. 197, 61440 et seq. (October 10, 2014).

  • Uncertificated Security shall have the meaning given such term in Section 8-102(a)(18) of the UCC.

  • Certificated Note means a Note in registered individual form without interest coupons.

  • Exempt Security means any security that is expressly exempted from the preclearance or reporting requirements of the Code, where applicable.

  • Loaned Security means any “security” which is delivered as a Loan under a Securities Loan Agreement; provided that, if any new or different security shall be exchanged for any Loaned Security by recapitalization, merger, consolidation, or other corporate action, such new or different security shall, effective upon such exchange, be deemed to become a Loaned Security in substitution for the former Loaned Security for which such exchange was made.

  • exchange-traded security means a security that is listed on a recognized exchange or is quoted on a recognized quotation and trade reporting system or is listed on an exchange or quoted on a quotation and trade reporting system that is recognized for the purposes of National Instrument 21-101 Marketplace Operation and National Instrument 23-101 Trading Rules;

  • Company Security means any class or series of equity or voting interest in the Company (but excluding any options, rights, warrants and appreciation rights relating to an equity or voting interest in the Company), including Common Shares and the Voting Share.

  • Restricted Certificated Note means a Certificated Note bearing the Private Placement Legend.

  • exchangeable security means a security of an issuer that is exchangeable for, or carries the right of the holder to acquire, or of the issuer to cause the acquisition of, a security of another issuer;

  • Permitted Security means any Security:

  • Charged Securities means such Securities as

  • Bid Security means the bid security provided by the Contractor to the Authority in accordance with the Request for Proposal, and which is to remain in force until substituted by the Performance Security;

  • Indexed Security means a Security the terms of which provide that the principal amount thereof payable at Stated Maturity may be more or less than the principal face amount thereof at original issuance.

  • Certificated Security shall have the meaning given such term in Section 8-102(a)(4) of the UCC.

  • Clearing Corporation Security means securities which are in the custody of or maintained on the books of a Clearing Corporation or a nominee subject to the control of a Clearing Corporation and, if they are Certificated Securities in registered form, properly endorsed to or registered in the name of the Clearing Corporation or such nominee.

  • Subordinated Security or “Subordinated Securities” means any Security or Securities designated pursuant to Section 301 as a Subordinated Security.

  • Rule 144A Global Security has the meaning specified in Section 2.1(a) of Appendix A.

  • Physical Note means a Note (other than a Global Note) that is represented by a certificate substantially in the form set forth in Exhibit A, registered in the name of the Holder of such Note and duly executed by the Company and authenticated by the Trustee.

  • Cyber Security means the condition in which road vehicles and their functions are protected from cyber threats to electrical or electronic components.

  • Book-Entry Preferred Security means a Preferred Security, the ownership and transfers of which shall be made through book entries by a Depositary.

  • Quasi-Security means an arrangement or transaction described in paragraph (b) below.

  • Note means a promissory note made by the Borrower in favor of a Lender evidencing Loans made by such Lender, substantially in the form of Exhibit C.

  • Released Securities means securities that were Restricted Securities with respect to which all applicable restrictions have expired, lapsed, or been waived.

  • Capital Security means an undivided beneficial interest in the assets of the Issuer Trust, having a Liquidation Amount of $1,000 and having the rights provided therefor in this Trust Agreement, including the right to receive Distributions and a Liquidation Distribution as provided herein.