Replacement Security definition

Replacement Security shall have the meaning assigned to it in Section 3.12.

Replacement Security has the meaning set forth in Section 5.3 hereof.

Replacement Security means a Security purchased by the Trustee pursuant to Section 3.07 hereof.

Examples of Replacement Security in a sentence

• Any excess of the purchase price of a Failed Contract Security over the purchase price of its corresponding Replacement Security shall be credited to the Capital Account.

• Whenever a Replacement Security is acquired by the Trustee pursuant to the provisions of this Section, the Trustee will, as agent for the Depositor, not later than five days after such acquisition, mail to each Unitholder a notice of such acquisition, including an identification of the Securities eliminated and the Securities acquired.

• Whenever a Replacement Security is acquired by the Depositor pursuant to the provisions of this Section 3.07, the Trustee shall, within five days thereafter, mail to all Unit Holders notices of such acquisition, including an identification of the Special Security and the Replacement Security acquired.

• The Depositor shall not be liable for any failure to instruct the Trustee to purchase any Replacement Security or for errors of judgment in selecting any Replacement Security.

• The other Party shall return the original Replacement Security to the Party causing the additional Replacement Security to be issued within five (5) Business Days of the provision of such additional Replacement Security to the other Party.

More Definitions of Replacement Security

Replacement Security means either: (a) cash; (b) an irrevocable letter of credit, substantially in the form set forth as Exhibit A, issued by a commercial bank authorized to do business and in good standing in the United States of America with a minimum long-term unsecured debt rating of at least “A-” by Standard & Poor’s or “A3” by Moody’s, or an equivalent debt rating by one of these agencies; or (c) other security acceptable to the Party receiving such Replacement Security. If, at any time, the issuer of the Replacement Security fails to possess the minimum applicable requirements set forth in (b) or (c) in the immediately foregoing sentence (such occurrence defined herein as a “Replacement Downgrade Event”), the Party causing such Replacement Security to be issued shall deliver replacement credit support in a form and in the amount that meets the definition of Replacement Security within five (5) Business Days of notice of such Replacement Downgrade Event. The other Party shall return the original Replacement Security to the Party causing the additional Replacement Security to be issued within five (5) Business Days of the provision of such additional Replacement Security to the other Party.

Replacement Security means either: (a) cash; (b) an irrevocable letter of credit issued by a commercial bank authorized to do business and in good standing in the United States of America with a minimum long-term unsecured debt rating of at least “A-” by S&P or “A3” by Xxxxx’x, or an equivalent debt rating by one of these agencies; or (c) other security acceptable to the Party receiving such Replacement Security. If, at any time, the issuer of the Replacement Security fails to possess the minimum applicable requirements set forth in (b) or (c) in the immediately foregoing sentence (such occurrence defined herein as a “Replacement Downgrade Event”), the Party causing such Replacement Security to be issued shall deliver replacement credit support in a form and in the amount that meets the definition of Replacement Security within five (5) Business Days of notice of such Replacement Downgrade Event. The other Party shall return the original Replacement Security to the Party causing the additional Replacement Security to be issued within five (5) Business Days of the provision of such additional Replacement Security to the other Party.

Replacement Security has the meaning ascribed thereto in section 2.2 of the Plan of Arrangement;

Replacement Security has the meaning ascribed thereto in section 2.2(a)(ii);

Replacement Security shall have the meaning assigned to it in Section 3.14.

Replacement Security shall have the meaning assigned to it in Section 3.13.

Replacement Security means either: (a) cash; (b) an irrevocable Letter of Credit issued by a commercial bank authorized to do business and in good standing in the United States of America with a minimum long-term unsecured debt rating of at least “A-” by S&P or “A3” by Xxxxx’x, or an equivalent debt rating by one of these agencies;