Net Paying Securities definition

Net Paying Securities. Securities which are of a kind such that, were they to be the subject of a Transaction to which paragraph 5 applies, any payment made by Buyer under paragraph 5 would be one in respect of which either Buyer would or might be required to make a withholding or deduction for or on account of taxes or duties or Seller would or might be required to make or account for a payment for or on account of taxes or duties (in each case other than tax on overall net income) by reference to such payment;
Net Paying Securities. Securities in respect of which any interest, dividend or other distribution payable by the issuer to either Seller or buyer is required by law to be paid subject to withholding or deduction for or on account of taxes or duties of whatsoever nature imposed, levied, collected, withheld or assessed by any authority having power to tax; (t) "PRICE DIFFERENTIAL", with respect to any Transaction as of any date, the aggregate amount obtained by daily application of the Pricing Rate for such Transaction to the Purchase Price for such Transaction (on a 360 day year basis, or 365 day year basis as agreed between the parties for the Transaction) for the actual number of days during the period commencing on (and including) the Purchase Date for such Transaction and ending on (but excluding) the date of calculation; (u) "PRICING RATE", with respect to any Transaction, the per annum percentage rate for calculation of the Price Differential agrees to by Buyer and Seller in relation to that Transaction; (v) "PURCHASE DATE", with respect to any Transaction, the date on which Purchased Securities are to be sold by Seller to Buyer in relation to that Transaction; (w) "PURCHASE PRICE", (I) on the Purchase Date, the price at which Purchased Securities are sold or are to be sold by Seller to Buyer, and (ii) thereafter, such price increased by the amount of any money paid by Buyer to Seller pursuant to paragraph 4(b) hereof and decreased by the amount of any money paid by Seller to Buyer pursuant to paragraph 4(a) hereof (and for this purpose any amount of money not denominated in the Contractual Currency shall (subject to paragraph (a)) be converted into the Contractual Currency at the Spot Rate); (x) "PURCHASED SECURITIES", with respect to any Transaction, subject to paragraph 8 hereof, the Securities sold or to be sold by Seller to Buyer under that Transaction. With respect to any Transaction the term "PURCHASED SECURITIES" shal1 include Additional Purchased Securities transferred pursuant to paragraph 4(a) and attributed to that Transaction and shall exclude Purchased Securities in respect of which Equivalent Securities have been transferred pursuant to paragraph 4(b); (y) "REPURCHASE DATE", with respect to any Transaction, the date on which Buyer is to sell Equivalent Securities to Seller in relation to that Transaction; (z) "REPURCHASE PRICE", WITH respect to any Transaction and as of any date the sum of the Purchase Price and the Price Differential as of such date (and fo...

Examples of Net Paying Securities in a sentence

  • Transactions in Net Paying Securities may not be effected under this Agreement.

  • Transactions in Net Paying Securities [may/may not] be effected under this Agreement, and accordingly the provisions of sub-paragraphs (i) and (ii) below [shall/shall not] apply.

  • Transactions in Net Paying Securities [may/may not] be effected under this Agreement, and accordingly the following provisions [shall/shall not] apply.

  • The term "gross paying securities" shall be deleted from the title page, and in both the heading to the Agreement and paragraph 1(a) the phrase "other than equities, U.S. Treasury instruments and Net Paying Securities" shall be replaced by the phrase "other than equities and U.S. Treasury instruments".

  • Transactions in Net Paying Securities may be effected under this Agreement, unless otherwise specified in the Structured Confirmation, and accordingly the provisions of sub-paragraphs (i) to (ii) below shall apply.

  • Transactions in Net Paying Securities [may/may not] be effected under this Agreement, and accordingly the provisions of sub-paragraphs (i) and (ii) below [ shall/ shall not] apply.

  • Transactions in Net Paying Securities may be effected under this Agreement, and accordingly the provisions of sub-paragraphs (i) to (ii) below shall apply.

  • This agreement is to be used for repos or reverse repos and buy/sell backs of securities other than equities, U.S. Treasury instruments and Net Paying Securities BETWEEN: <“PARTY A”> CITIGROUP GLOBAL MARKETS INC.

  • Transactions in equities and Net Paying Securities may be effected under this Agreement, and accordingly the Equities Annex shall apply and the phrase “, other than equities and Net Paying Securities” shall be deleted in its entirety from paragraph 1(a).1.3 paragraph 1(d).

  • General Remark: Pursuant to the assumption of the legal opinions on the enforceability of the GMRA prepared for ICMA modifications made by the Annexes (i.e., Buy/Sell Back Annex, Agency Annex, Bills of Exchange Annex, EMU Annex, Equities Annex, Gilts Annex, Net Paying Securities Annex, Italian Annex and Japanese Securities Annex) in the form published by ICMA27 are covered by the opinions.

Related to Net Paying Securities

  • Qualifying Securities means securities issued by the Issuer that:

  • APM Qualifying Securities means, with respect to an Alternative Payment Mechanism or any Mandatory Trigger Provision, one or more of the following (as designated in the transaction documents for any Qualifying Capital Securities that include an Alternative Payment Mechanism or a Mandatory Trigger Provision, as applicable):

  • Closing Securities shall have the meaning ascribed to such term in Section 2.1(a)(ii).

  • Underlying Securities means any securities issuable on conversion, exchange or exercise of compensation securities.

  • Existing Securities means, collectively, the Equity Securities and the Debt Securities.

  • Controlling Securities means (i) the Class A Notes so long as the Class A Notes are outstanding, (ii) after the Class A Notes are no longer outstanding, the Class B Notes so long as the Class B Notes are outstanding and (iii) after the Class B Notes are no longer outstanding, the Class C Notes so long as the Class C Notes are outstanding.

  • Company Voting Securities means the combined voting power of all outstanding voting securities of the Company entitled to vote generally in the election of directors to the Board.

  • Outstanding Voting Securities means the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors.

  • Exempt Securities has the meaning set forth in Section 4.4(d).

  • Outstanding Company Voting Securities means outstanding voting securities of the Company entitled to vote generally in the election of directors; and any specified percentage or portion of the Outstanding Company Voting Securities (or of other voting stock or voting securities) shall be determined based on the relative combined voting power of such securities;

  • Company Ordinary Shares means the shares of par value $1.00 each in the Company.

  • Contract Securities means the Offered Securities, if any, to be purchased pursuant to the delayed delivery contracts referred to below.

  • Equity Preferred Securities means, with respect to any Person, any trust preferred securities or deferrable interest subordinated debt securities issued by such Person or other financing vehicle of such Person that (i) have an original maturity of at least twenty years, and (ii) require no repayments or prepayments and no mandatory redemptions or repurchases, in each case, prior to the first anniversary of the latest Maturity Date.

  • NIM Securities As defined in the tenth Recital to this Agreement.

  • Hybrid Preferred Securities means any preferred securities issued by a Hybrid Preferred Securities Subsidiary, where such preferred securities have the following characteristics:

  • Series A Securities means the Company's Series A 9 3/8% Junior Subordinated Deferrable Interest Debentures due May 1, 2028 as authenticated and issued under this Indenture.

  • Underlying Securities Issuer With respect to an Underlying Security, the issuer thereof (including, if applicable, the guarantor of the Underlying Security), as identified in the Underlying Securities Schedule.

  • Redemption and Paying Agent means, with respect to any Series, State Street Bank and Trust Company and its successors or any other redemption and paying agent appointed by the Fund with respect to such Series.

  • Exchangeable Securities means any securities of any trust, limited partnership or corporation other than the Trust that are convertible or exchangeable directly for Units without the payment of additional consideration therefor;

  • Outstanding Securities means, with respect to any Security and as of the date of determination, all Securities evidenced by Certificates theretofore authenticated, executed and delivered under this Agreement, except:

  • majority of the outstanding voting securities shall have the meaning set forth for such terms in the 1940 Act.

  • ETP Securities means the Series of ETP Securities to which these Conditions relates or, as the context may require, any or all securities issued by the Issuer under the Programme.

  • Non Book-Entry Preferred Securities shall have the meaning set forth in Section 2.4.

  • Series B Securities means the 11-1/2% Senior Notes due 2007, Series B, of the Company to be issued pursuant to this Indenture in exchange for the Series A Securities pursuant to the Registered Exchange Offer and the Registration Rights Agreement.

  • Securities as used herein does not include (i) securities of issuers that are affiliated with the Buyer or are part of the Buyer's Family of Investment Companies, (ii) securities issued or guaranteed by the U.S. or any instrumentality thereof, (iii) bank deposit notes and certificates of deposit, (iv) loan participations, (v) repurchase agreements, (vi) securities owned but subject to a repurchase agreement and (vii) currency, interest rate and commodity swaps.

  • Exchangeable Shares means the exchangeable shares in the capital of the Company, having the rights, privileges, restrictions and conditions set forth herein;