Examples of Offers to Exchange in a sentence
Offers to Exchange Existing Securities received from Holders which do not provide details of a valid Clearing System account may not be accepted by either ECN Issuer or Lloyds Banking Group (as the case may be).
Offers to Exchange are irrevocable and may be withdrawn only in the limited circumstances described in paragraph 7(b) (Amendment and Termination) of the section entitled “Terms of the Invitation” of the Exchange Offer Memorandum.
Holders will, if their Offers to Exchange are accepted, receive the relevant New Securities or cash on the relevant Settlement Date, as described herein.Holders who wish to Offer to Exchange their Existing Securities in accordance with this Exchange Option 4, should specify ‘‘Exchange Option 4’’ in the relevant Exchange Instruction.
Upon the terms and subject to the conditions of the Exchange Offer, it Offers to Exchange the principal amount/liquidation preference of Existing Securities in its account blocked in the relevant Clearing System for the relevant ECNs or Exchange Consideration (as applicable).
Offers to Exchange Existing Securities received from Holders which do not provide details of a valid Clearing System account may not be accepted by either ECN Issuer or Lloyds Banking Group (as the case may be).Each of Equiniti Limited and Capita Registrars Limited are registrar with respect to certain series of the Existing Securities.
In the event of such a shortfall, Lloyds Banking Group will allocate to those Holders whose Offers to Exchange have been accepted, the maximum number of New Shares available to be issued, in accordance with the ECA Priority.
Offers to Exchange the Existing Preference Shares and the Saphir Existing Securities will be made to, and (if applicable) accepted by, Lloyds Banking Group.
Holders whose Offers to Exchange are accepted by the relevant ECN Issuer or Lloyds Banking Group (as the case may be) and are entitled to receive the relevant Exchange Consideration Amount have no right to receive New Shares.
Participating Holders may only revoke their Offers to Exchange in the limited circumstances set out under ‘‘Revocation Rights’’ below.
The relevant ECN Issuer or Lloyds Banking Group (as the case may be) may then accept such Offers to Exchange in accordance with the ECA Priority, in the circumstances described in Appendix 3.