PEPS Units definition

PEPS Units means a security consisting of a unit comprised of (A) a purchase contract under which the holder of the unit will purchase from the Company, for $___ in cash, a certain number of shares of common stock, par value $.01 per share, of the Company and (B) beneficial ownership of a Preferred Security or Senior Deferrable Note, or in certain circumstances following the occurrence of a Tax Event, the appropriate Applicable Ownership Interest of the Treasury Portfolio.]
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PEPS Units means the 8.25% Premium Equity Participating Security Units issued by the Borrower in November 1998.
Sample 1

Examples of PEPS Units in a sentence

  • If any mutilated Certificate is surrendered to the Purchase Contract Agent, the Company shall execute and deliver to the Purchase Contract Agent, and the Purchase Contract Agent shall authenticate, execute on behalf of the Holder, and deliver in exchange therefor, a new Certificate, evidencing the same number of PEPS Units or Treasury PEPS Units, as the case may be, and bearing a Certificate number not contemporaneously outstanding.

  • Unless the certificate of authentication hereon has been executed by the Purchase Contract Agent by manual signature, this Treasury PEPS Units Certificate shall not be entitled to any benefit under the Pledge Agreement or the Purchase Contract Agreement or be valid or obligatory for any purpose.

  • Thereafter, pursuant to the terms of the Pledge Agreement, the Collateral Agent shall cause the Securities Intermediary to apply an amount equal to the Redemption Amount of such Redemption Price to purchase on behalf of the Holders of PEPS Units the Treasury Portfolio and promptly remit the remaining portion of such Redemption Price to the Purchase Contract Agent for payment to the Holders of such PEPS Units.

  • Unless the certificate of authentication hereon has been executed by the Purchase Contract Agent by manual signature, this PEPS Units Certificate shall not be entitled to any benefit under the Pledge Agreement or the Purchase Contract Agreement or be valid or obligatory for any purpose.

  • Prior to or concurrently with the execution and delivery of this Agreement, the Purchase Contract Agent, on behalf of the initial Holders of the PEPS Units, shall Transfer to the Securities Intermediary, for credit to the Collateral Account, the Preferred Securities or security entitlements relating thereto, and the Securities Intermediary shall indicate by book-entry that a securities entitlement to such Preferred Securities has been credited to the Collateral Account.

  • Upon the occurrence of a Termination Event, the Company shall promptly but in no event later than two Business Days thereafter give written notice to the Purchase Contract Agent, the Collateral Agent and the Holders, at their addresses as they appear in the PEPS Units Register.

  • At the option of the Holder, Certificates may be exchanged for other Certificates, of any authorized denominations and evidencing a like number of PEPS Units or Treasury PEPS Units, as the case may be, upon surrender of the Certificates to be exchanged at the Corporate Trust Office.

  • Upon registration of transfer of this PEPS Units Certificate, the transferee shall be bound (without the necessity of any other action on the part of such transferee, except as may be required by the Purchase Contract Agent pursuant to the Purchase Contract Agreement), under the terms of the Purchase Contract Agreement and the Purchase Contracts evidenced hereby and the transferor shall be released from the obligations under the Purchase Contracts evidenced by this PEPS Units Certificate.

  • Each Holder from time to time of the Securities that is a Plan hereby represents that its acquisition of the PEPS Units and the holding of the same satisfies the applicable fiduciary requirements of ERISA and that it is entitled to exemption relief from the prohibited transaction provisions of ERISA and the Code in accordance with one or more prohibited transaction exemptions or otherwise will not result in a nonexempt prohibited transaction.

  • Upon surrender for registration of transfer of any Certificate at the Corporate Trust Office, the Company shall execute and deliver to the Purchase Contract Agent, and the Purchase Contract Agent shall authenticate, execute on behalf of the designated transferee or transferees, and deliver, in the name of the designated transferee or transferees, one or more new Certificates of any authorized denominations, like tenor, and evidencing a like number of PEPS Units or Treasury PEPS Units, as the case may be.


More Definitions of PEPS Units

PEPS Units means a security consisting of a unit comprised of (A) a purchase contract under which the holder of the unit will purchase from the Depositor, for $25 in cash, a certain number of shares of common stock, par value $.01 per share, of the Depositor and (B) beneficial ownership of a Preferred Trust Security or Subordinated Note, or in certain circumstances following the occurrence of a Tax Event, the appropriate Applicable Ownership Interest of the Treasury Portfolio.
Sample 1
PEPS Units means the $200,000,000 in aggregate principal amount of 8% ---------- Premium Equity Participating Security Units issued by the Company.
Sample 1

Related to PEPS Units

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Core Units means such Units of the Trust that are issued to Core Investors with the condition that these are not redeemable for a period of two years from the close of the First Offer Period. Such Units are transferable with this condition, but otherwise shall rank pari passu with all other Units, save for this restriction. Any transfer of the Core Units, during the first two years of their issue as mentioned herein, shall be affected only on the receipt by the Registrar of a written acceptance of this condition by the transferee.

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Section 5.3.

  • LLC Units has the meaning set forth in the LLC Agreement.

  • LTIP Units means LTIP Units, as such term is defined in the Partnership Agreement.

  • Deferred Stock Units means the number of hypothetical Shares subject to an Election.

  • Incentive Units means those Partnership Interests described in Section 2 of the Incentive Unit Agreement.

  • Class B Units means the Class B Units of the Company.

  • Company Units has the meaning set forth in the Recitals.

  • Common Units means common units representing limited partner interests in the Partnership.

  • LP Units means the non-voting limited partnership units in the capital of BEP, other than the Preferred Units, including any LP Units issued pursuant to the Redemption-Exchange Mechanism.

  • Covered Units means, with respect to each Unitholder, such Unitholder’s Existing Units, together with any WMLP Common Units that such Unitholder becomes the Record Holder or beneficial owner of on or after the date hereof.

  • PSUs means the outstanding performance share units governed by the performance share unit plan of the Company dated December 16, 2013, as amended from time to time;

  • Performance Units means an Award which may be earned in whole or in part upon attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Performance Share Units means Performance Share Units granted to an Eligible Individual under Section 9.1(b).

  • Restricted Stock Units means an Award of stock units subject to such restrictions and conditions as the Administrator may determine at the time of grant.

  • Restricted Units means that number of restricted units listed in the Award Letter as “Awards Granted.”

  • RSUs means that number of Restricted Stock Units listed in the Award Notice as “Restricted Stock Units Granted.”

  • Performance Shares means Shares or an Award denominated in Shares which may be earned in whole or in part upon attainment of performance criteria established by the Administrator.

  • Stock Units means investment units under the Deferred Delivery Plan, each of which is deemed to be equivalent to one share of Stock.

  • Restricted Share Units means an Award which may be earned in whole or in part upon the passage of time or the attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Unvested Units means those Units listed as unvested Units in the books and records of the Partnership, as the same may be amended from time to time in accordance with this Agreement.

  • OP Units means units of limited partnership interest in the Operating Partnership.

  • FTPS Unit means Units which are purchased through the Fund/SERV(R) trading system or on a manual basis through FTP Services LLC or for which FTP Services LLC is acting as FTPS Unit Servicing Agent.

  • Class C Units means the Class C Units of the Company.

  • Bonus Stock means shares of Common Stock which are not subject to a Restriction Period or Performance Measures.