Normal Unit means the collective rights and obligations of a Holder of a Normal Units Certificate in respect of a Note or the appropriate Treasury Consideration or Applicable Ownership Interest in the Treasury Portfolio, as the case may be, subject in each case to the Pledge thereof, and the related Purchase Contract.
Normal Unit means the collective rights and obligations of a Holder of a Normal Units Certificate in respect of a 1/40 undivided beneficial interest in a Note in the original principal amount of $1,000 or the Treasury Consideration, as the case may be, subject in each case to the Pledge thereof, and the related Purchase Contract.
Normal Unit means the rights to purchase Common Stock under a Purchase Contract, together with ownership of the QUIPS or other Pledged Securities pledged to secure the obligations referred to in (a) and (b) below, subject to (a) the obligations owed to the Company under such Purchase Contract, (b) for so long as any Call Options remain exercisable, the obligations owed to the Call Option Holder under a Call Option and (c) the pledge arrangements securing the foregoing obligations; provided, however, that the term "Normal Unit" will not include any Stripped Unit.
Examples of Normal Unit in a sentence
The Company may cause to be made in any Normal Unit Certificates thereafter to be issued such change in phraseology and form (but not in substance) as may be appropriate to reflect the substitution of the Treasury Portfolio for Notes as collateral.
In the absence of specific instructions from the Holder of a Normal Unit, the Agent shall abstain from voting the Pledged Note underlying such Normal Unit.
The Treasury Portfolio will be substituted for the Pledged Notes, and will be pledged to the Collateral Agent in accordance with the terms of the Pledge Agreement to secure the obligation of each Holder of a Normal Unit to purchase the Common Stock under the Purchase Contract constituting a part of such Normal Unit.
The Notes are issuable only in registered form without coupons, in denominations of $1,000 and any integral multiple thereof except that an interest in a Note held as part of a Normal Unit represents an ownership interest of 1/40th, or 2.5%, of a Note in aggregate principal amount of $1,000 and will therefore correspond to the stated amount of $25 per Normal Unit.
Each Holder of a Normal Unit or a Stripped Unit, by its acceptance thereof, covenants and agrees to treat itself as the owner, for federal, state and local income and franchise tax purposes of (i) the related Notes or the appropriate Treasury Consideration, in the case of the Normal Units, or (ii) the Treasury Securities, in the case of the Stripped Units.
More Definitions of Normal Unit
Normal Unit means the collective rights and obligations of a Holder of a Normal Units Certificate in respect of the Applicable Ownership Interest in Senior Notes or an appropriate Applicable Ownership Interest in the Treasury Portfolio, as the case may be, subject in each case (except for the appropriate Applicable Ownership Interest in the Treasury Portfolio specified in clause (ii) of the definition of such term) to the Pledge thereof, and the related Purchase Contract.
Normal Unit means the collective rights and obligations of a Holder of a Normal Units Certificate in respect of a Preferred Security or the appropriate Treasury Consideration, as the case may be, subject in each case to the Pledge thereof, and the related Purchase Contract.
Normal Unit is a unit with a stated amount of $50 (the "STATED AMOUNT") comprised of (a) a stock purchase contract (a "PURCHASE CONTRACT", and collectively with each other Purchase Contract, the "PURCHASE CONTRACTS") under which (i) the holder of a Normal Unit (a "HOLDER", and collectively with other Holders of Normal Units, the "HOLDERS") will purchase from the Company on August 16, 2006 (the "SETTLEMENT DATE"), for $50 per Normal Unit, a number of shares of common stock, par value $0.01 per share, of the Company (the "COMMON STOCK"), as set forth in the Purchase Agreement (as defined below) and (ii) the Company will pay quarterly contract adjustment payments at the rate of 4.44% of the Stated Amount per year, and (b) a 1/20th undivided beneficial ownership interest in $1,000 principal amount of the Company's Senior Notes due August 16, 2008. Each such ownership interest is referred to herein as a "SENIOR NOTE OWNERSHIP INTEREST" and collectively with each other Senior Note Ownership Interest, the "SENIOR NOTE OWNERSHIP INTERESTS" and such Senior Notes due August 16, 2008 are referred to herein as the "SENIOR NOTES". In accordance with the terms of a Purchase Contract Agreement (the "PURCHASE Agreement") to be dated as of the Time of Delivery (as defined below) between the Company and JPMorgan Chase Bank, as Purchase Contract Agent (the "PURCHASE CONTRACT AGENT"), pursuant to which the Purchase Contracts will be issued, the holders of the Normal Units will pledge all of their respective title, right and interest in and to the Senior Note Ownership Interests constituting part of the Normal Units to JPMorgan Chase Bank, as Collateral Agent (the "COLLATERAL AGENT"), pursuant to a Pledge Agreement (the "PLEDGE AGREEMENT") to be dated as of the Time of Delivery between the Company, the Purchase Contract Agent and the Collateral Agent, to secure the Holders' obligations under the Purchase Contracts. The Purchase Agreement and the Pledge Agreement are herein collectively referred to as the "EQUITY UNIT AGREEMENTS." The Senior Notes will be issued pursuant to the Indenture (the "BASE INDENTURE"), dated as of October 20, 1995 between the Company and JPMorgan Chase Bank (formerly The Chase Manhattan Bank), as indenture trustee (the "TRUSTEE"), as supplemented by the First Supplemental Indenture dated as of December 27, 2000 (the "FIRST SUPPLEMENTAL INDENTURE"), the Second Supplemental Indenture dated as of September 13, 2002 (the "SECOND SUPPLEMENTAL INDENTURE") and the Third ...
Normal Unit means the rights to purchase Common Stock and receive Contract Fees under a Purchase Contract, together with ownership of the U.S. Treasury Notes Due 2002 pledged to secure the obligations referred to in (a) below, subject to (a) the obligations owed to the Company under such Purchase Contract and (b) the pledge arrangements securing the foregoing obligations;
Normal Unit means the rights to purchase Common Stock under a Purchase Contract, together with ownership of the QUIPS or other Pledged Securities pledged to secure the obligations referred to in (a) and (b) below, subject to (a) the obligations owed to the Company under such Purchase Contract, (b) for so long as any Call Options remain exercisable, the obligations owed to the Call Option Holder under a Call Option and (c) the pledge arrangements securing the foregoing obligations; PROVIDED, HOWEVER, that the term "Normal Unit" will not include any Stripped Unit. "NYSE" has the meaning specified in Section 501. "Officers' Certificate" means a certificate signed by the Chairman of the Board, any Vice Chairman, the President or any Vice President and by the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary of the Company and delivered to the Unit Agent. "Opinion of Counsel" means an opinion in writing signed by legal counsel, who may be an employee of or counsel to the Company. "Outstanding Unit Certificates" means, as of the date of determination, all Unit Certificates theretofore authenticated, executed and delivered pursuant to this Agreement, except:
Normal Unit means the rights to purchase Common Stock under a Purchase Contract, together with ownership of the Debentures or other Pledged Securities pledged to secure the obligations referred to in (a) and (b) below, subject to