Examples of Returned Securities in a sentence
Any distribution from the Repayment Account to the Trustee pursuant to this Section 6.4 shall be made equally out of the Repayment Cash Account Assets and the Returned Securities Account Assets.
The Trustee shall initially (i) deposit all interest payments and other investment income on Investment Account Assets into the Investment Account, (ii) all interest payments and other investment income on Payment Account Assets into the Payment Account, (iii) all interest payments and other investment income on Repayment Cash Account Assets into the Repayment Cash Account and (iv) all dividend payments and other investment income on Returned Securities Account Assets into the Returned Securities Account.
The Grantor hereby agrees to establish and maintain with the Trustee the Investment Account, the Payment Account, the Repayment Cash Account and the Returned Securities Account.
The Trustee shall exercise any right to redeem Returned XL Preferred Securities in the Returned Securities Account, if any, solely as directed by the Grantor and if the Trustee does not receive any direction from the Grantor with respect to any such redemption right, abstain from exercising such redemption right.
If at the time of expiration of the Securities Return Period the Grantor has not deposited the full amount of Returned XL Preferred Securities into the Returned Securities Account, the Trustee shall distribute all Repayment Cash Account Assets to XLIB or its designee on the first Business Day following the expiration of the Securities Return Period.
The Grantor shall have the option to deposit the full amount of Returned XL Preferred Securities into the Returned Securities Account at any time during the Securities Return Period.
Prior to or at the Closing, Cognate shall surrender to the Company for retirement all shares of Common Stock constituting Returned Securities, the warrants constituting Returned Securities to the extent previously delivered to Cognate, a duly executed counterpart of the New Warrants and any other documents or instruments reasonably requested prior to such Closing by the Company in connection with the consummation of the transactions contemplated by this Agreement.
The Assets in the Returned Securities Account (the “Returned Securities Account Assets”), if any, shall consist of (i) the Returned XL Preferred Securities deposited by the Grantor pursuant to Section 3.6 and Section 6.1 hereof and (ii) dividends and other payments, if any, paid on the Returned XL Preferred Securities (irrespective of when declared) while such Returned XL Preferred Securities are in the Returned Securities Account.
Each of the Investment Account, the Payment Account, the Repayment Cash Account and the Returned Securities Account shall be maintained separately from any other Account maintained with the Trustee, and the Assets in each Account shall be segregated from the Assets in any other Account.
Except for the Grantor and XLIB, none of the Beneficiaries shall have any claim, interest or right hereunder or otherwise in the Returned Securities Account Assets.