Payment or Settlement Date definition
Payment or Settlement Date when used with respect to any Security, means the date when any money or Warrant Property with respect to such Security becomes payable or deliverable upon exercise or redemption of such Security in accordance with its terms.
Examples of Payment or Settlement Date in a sentence
If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before the Payment or Settlement Date of the Securities of such series, segregate and hold in trust for the benefit of the Persons entitled thereto money sufficient to pay all amounts of money becoming due on such date until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure so to act.