Examples of Non-Permitted Transferee in a sentence
The Trustee shall be entitled but not obligated to recover from any Holder of a Residual Certificate that was in fact a Non-Permitted Transferee at the time it became a Holder or, at such subsequent time as it became a Non-Permitted Transferee, all payments made on such Residual Certificate at and after either such time.
The Securities Administrator shall be entitled but not obligated to recover from any Holder of a Residual Certificate that was in fact a Non-Permitted Transferee at the time it became a Holder or, at such subsequent time as it became a Non-Permitted Transferee, all payments made on such Residual Certificate at and after either such time.
The sale price of such interest will be equal to the lowest of the purchase price paid for such interest by such Non-Permitted Transferee or Benefit Plan Investor, the principal amount of such interest and the fair market value of such interest (less any costs or expenses incurred by or on behalf of the Issuer in connection with such sale).
Pending such sale, the Issuer will be entitled to cease to make any payments in respect of Instruments held by a Non-Permitted Transferee or a Benefit Plan Investor.The foregoing restrictions on the offer, sale, pledge or other transfer of Instruments to a Non-Permitted Transferee or Benefit Plan Investor may adversely affect the ability of an investor in the Instruments to dispose of the Instruments in the secondary market, if any, and significantly reduce the liquidity of the Instruments.
If ‘Void Transfer’ is specified as applicable in the Series Terms, then any transfer or other disposition of any legal or beneficial ownership interest in an Instrument to a Non-Permitted Transferee or Benefit Plan Investor shall be deemed to be void ab initio and of no legal effect.