Examples of NGN form in a sentence
At the same time the ECB also announced that arrangements for Notes in NGN form will be offered by Euroclear and Clearstream, Luxembourg as of 30 June 2006 and that debt securities in global bearer form issued through Euroclear and Clearstream, Luxembourg after 31 December 2006 will only be eligible as collateral for Eurosystem operations if the NGN form is used.
Securities that are not issued in NGN form or held under the NSS are not intended to be recognised as eligible collateral for Eurosystem monetary policy and intra-day operations.
Certain Series of Instruments may be issued in NGN form or held under the NSS with the intention that such Instruments be recognised and added to the list maintained and published by the European Central Bank of assets which are recognised as eligible collateral for Eurosystem monetary and intra-day credit operations.
Global Bearer Instruments will (i) if the Bearer Instruments are intended to be issued in NGN form, as stated in the Series Terms, be delivered on or prior to the original issue date to a common safekeeper for the Clearing Systems; and (ii) if the Bearer Instruments are intended to be issued in CGN form, as stated in the Series Terms, be delivered on or prior to the original issue date to a common depositary for the Clearing Systems.
The Notes are issued in new global note ("NGN") form and are kept in custody by a common safekeeper on behalf of both ICSDs.
If the Global Notes or the Global Certificates are stated in the applicable Final Terms to be issued in NGN form or to be held under the NSS (as the case may be), the Global Notes or the Global Certificates will be delivered on or prior to the original issue date of the Tranche to a Common Safekeeper.
This Tranche of the Notes is being issued by the Issuer in [insert specified currency] (the Specified Currency) in the aggregate principal amount of [in case the Global Note(s) is/are issued in NGN form insert: , subject to § 1 (6),] [insert specified currency and aggregate principal amount] (in words: [insert aggregate principal amount in words]) in the denomination of [insert specified currency and specified denomination] (the Specified Denomination).
For example, a paying agent and the agent bank have agreed to provide payment and calculation services in connection with the Notes; and Euroclear and Clearstream, Luxembourg have in respect of Bearer Global Notes in NGN form, agreed, inter alia, to accept such Bearer Global Notes as eligible for settlement and to properly service the same, and to maintain up to date records in respect of the total amount outstanding of such Bearer Global Notes in NGN form.
Payments of principal, interest (if any) or any other amounts on a Permanent Bearer Global Note will be made through Euroclear and/or Clearstream, Luxembourg against presentation or surrender (as the case may be) of the Permanent Bearer Global Note (if the Permanent Bearer Global Note is not intended to be issued in NGN form) without any requirement for certification.
Any reference herein to Euroclear and/or Clearstream, Luxembourg shall, whenever the context so permits, except in relation to Notes issued in NGN form, be deemed to include a reference to any additional or alternative clearance system approved by the Issuer, the Guarantor and the Agent.