Intermediary Shares definition

Intermediary Shares are shares of an Intermediary Fund owned or held by a broker-dealer listed as an “Intermediary Broker-Dealer” on Schedule F to the Agreement, as it may be amended from time to time, that are cleared and settled through Boston Financial Data Services, Inc. (b) A new Section 2.2 is added which reads in its entirety as follows:
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Examples of Intermediary Shares in a sentence

  • A Holder of Treasury PIES may recreate Corporate PIES by delivering to the Securities Intermediary Shares with an aggregate liquidation preference equal to the aggregate principal amount of the Pledged Treasury Securities in exchange for the release of such Pledged Treasury Securities in accordance with the terms of the Purchase Contract Agreement and the Pledge Agreement.

  • Under the terms of the Plans, Legg Mason may be entitled t▇ ▇▇m▇▇▇▇▇tion for distribution related services that it provides to the Investment Companies, and Legg Mason is permitted to p▇▇ ▇l▇ ▇▇ a portion of such compensation to entities that engage in or support the distribution of Financial Intermediary Shares.

  • A Holder of Treasury SPUS may recreate Corporate SPUS by delivering to the Securities Intermediary Shares with an aggregate liquidation preference equal to the aggregate principal amount of the Pledged Treasury Securities in exchange for the release of such Pledged Treasury Securities in accordance with the terms of the Purchase Contract Agreement and the Pledge Agreement.