Periodic payment plan certificate definition
Periodic payment plan certificate. ’ means (A) any certificate, investment con- tract, or other security providing for a series of periodic payments by the holder, and rep- resenting an undivided interest in certain specified securities or in a unit or fund of se- curities purchased wholly or partly with the proceeds of such payments, and (B) any secu- rity the issuer of which is also issuing securi- ties of the character described in clause (A) of this paragraph and the holder of which has substantially the same rights and privileges as those which holders of securities of the char- acter described in said clause (A) have upon completing the periodic payments for which such securities provide.
Periodic payment plan certificate means (A) any certificate, investment contract, or other security providing for a series of periodic payments by the hold er, and representing an undivided interest in certain specified securities or in a unit or fund of securities purchased wholly or partly with the proceeds of such payments, and (B) any security the issuer of which is also issuing securities of the character described in clause (A) and the holder of which has substantially the same rights and privileges as those which holders of securities of the character described in clause (A) have upon completing the periodic payments for which such securities provide;
Periodic payment plan certificate. ’ means (A) any certificate, investment con- tract, or other security providing for a series of periodic payments by the holder, and rep- resenting an undivided interest in certain