Final Trading Date definition
Examples of Final Trading Date in a sentence
Both of these Assignment Notices are dated after October 20, 1995 and state that the assignments to Elliott take effect on dates after the Final Trading Date.
The difficulty with this argument, of course, is that it assumes the assignments were made after October 20th when clearly they were not.Panama also alleges that even if the assignments were, completed before the Final Trading Date, Elliott would then be required to restructure because it would then be bound by the 1995 Financing Plan.
Panama was particularly concerned with establishing a "Final Trading Date" [**6] so that it would have a firm date by which it would know which creditors had committed to the Plan.
The settlement of such assignments made before the Final Trading Date was to be completed on or before November 10, 1995.
The principal defenses were: (1)the purported assignments to Elliott were void because they took effect after the Final Trading Date of October 20, 1995; (2) Elliott was not a proper assignee under the 1982 Agreement because assignments were only permitted to banks or financial institutions, and Elliott, according to Panama, was neither a bank nor a financial institution; and (3) Elliott acquired its purported interest in the 1978 Agreement in violation of New York's law against champerty.
Panama contends that the assignments were invalid because: (1) they were obtained after the Final Trading Date established in the 1995 [*337] Financing Plan; (2) Elliott is not a proper assignee under the 1982 Agreement; and (3) the assignments were obtained in violation of New York's champerty law.
As summarized in Annex B: Pursuant to the Commitment Letter, each Lender will agree not to assign any of its Eligible Debt after October 20, 1995 (the "Final Trading Date") and to complete the settlement of all such assignments on or before November 10,1995 .
To maintain an orderly process pending its implementation, the Plan also included "Interim Measures," by which each creditor holding debt eligible for restructuring agreed not to "recognize or record any assignment of Eligible Principal or Eligible Interest made after the Final Trading Date" of October 20, 1995.