Examples of Physical Redemption in a sentence
If an Event of Default occurs and the Trustee has not declared the Notes due and payable in accordance with Base Condition 7.1 by the date falling three Business Days following the occurrence of such Event of Default, the Issuer shall, upon valid exercise of a Contingent Noteholder Put Option by a 100% Noteholder, redeem all the Notes at their Physical Redemption Amount on the Contingent Noteholder Put Redemption Date in accordance with the relevant Exercise Notice.
In the case where the Noteholder elects to receive the Physical Redemption Amount in respect of such Noteholder Option, the delivery of the duly completed Exercise Notice by the Noteholder in accordance with the Conditions shall be deemed to satisfy the requirement to deliver a Delivery Instruction Certificate pursuant to Base Condition 8.9(b), provided that such Exercise Notice contains all information necessary for the Issuer or its agent to effect physical delivery of the relevant assets.
The Physical Redemption Form shall indicate the delivery address, which must be located in a Delivery State (as hereinafter defined), and the number of Gold Deposit Receipts Surrendered.
References in the Terms and Conditions to satisfaction of obligations by payment of a Physical Redemption Amount shall be deemed to include satisfaction of those obligations by delivery of such Physical Redemption Amount.
The records of the Principal Agent will be conclusive evidence of any Noteholder’s entitlement to a Physical Redemption Amount.
The termination of the appointment of the Disposal Agent may result in delay in realising the Collateral and in making payment on the Instruments which may result in losses to Instrumentholders.The Instrumentholders will be paid the Early Cash Redemption Amount or delivered the Physical Redemption Amount, as the case may be, after payment of any priority claims.
The Trustee shall review the Physical Redemption Form and confirm that the proposed delivery address is within a Delivery State and forward a copy of the Physical Redemption Form to the Underwriter.
A Noteholder will not be entitled to any Physical Redemption Amount unless it has; (x) presented or surrendered (as is appropriate) the relevant Note; and (y) delivered a Delivery Instruction Certificate at the Principal Agent’s specified office.
Subject to the remainder of this Master Condition 9(g) the Issuer shall procure the delivery, on the date on which the Early Redemption Amount is due, of the Physical Redemption Amount to the Sole Instrumentholder in respect of all Instruments outstanding on the relevant Early Redemption Date, in accordance with the instructions contained in the related Exercise Notice.
If a valid election to receive the Physical Redemption Amount is made by a Sole Instrumentholder pursuant to Master Condition 9(f) (Instrumentholder Settlement Option procedure), then on or before the day falling one Business Day following the Settlement Option Cut-Off Date, the Calculation Agent shall determine the Physical Redemption Amount deliverable to the Sole Instrumentholder and shall notify the Issuer, the Trustee and the Issuing and Paying Agent of the same.