SEC Reporting Failure definition

SEC Reporting Failure means the date determined by the Depositor within a reasonable time following the Underlying Securities Guarantor's either (x) having stated in writing that it intends permanently to cease filing periodic reports required under the Exchange Act or (y) having failed to file all required periodic reports for one full year.

SEC Reporting Failure. Shall have the meaning given to such term in the Trust Agreement.

SEC Reporting Failure. Shall have the meaning given to such term in Section 10(j)(A) of this Series Supplement.

Examples of SEC Reporting Failure in a sentence

• In the event that a Payment Default or a SEC Reporting Failure occurs and the Underlying Securities are liquidated at a loss, the Trustee will disclose pursuant to Treasury Regulation Section 1.6011-4 the loss in accordance with the procedures of such regulation, unless the Trustees obtain advice from counsel that such disclosure in not necessary.

• In connection with the occurrence of an SEC Reporting Failure, to the extent permitted by applicable law, the Trustee or the Trustor shall notify the Warrantholders promptly after consultation with the Commission as described above.

• Notwithstanding the foregoing, if at any time an SEC Reporting Failure occurs and is continuing, Warrantholders will have the right to exercise the Call Warrants so long as the Call Warrants are exercised prior to the liquidation or distribution of the Underlying Securities.

• In addition, the Call Warrants will become immediately exercisable upon the occurrence of an SEC Reporting Failure (whether such SEC Reporting Failure occurs before or after June 1, 2011) and, if the Call Warrants are in the money, as defined in clause (C) below, they will be deemed to be exercised without further action by the Warrantholders and will be cash settled concurrently with the distribution to Certificateholders.

• In the event that a Payment Default or a SEC Reporting Failure occurs and the Underlying Securities are liquidated at a loss, the Trustee will disclose pursuant to Treasury Regulation Section 1.6011-4 the loss in accordance with the procedures of such regulation, unless the Trustees received an Opinion of Counsel from the Trustor (at the expense of the Trustor) that such disclosure in not necessary.

More Definitions of SEC Reporting Failure

SEC Reporting Failure. If (1) the Underlying Issuer (as defined in the Series Supplement) either (x) states in writing that it intends permanently to cease filing periodic reports required under the Securities Exchange Act of 1934 or (y) fails to file all required periodic reports for any applicable reporting period, and (2) the Trustor determines after consultation with the Securities and Exchange Commission, that under applicable securities laws, rules or regulations the Trust must be liquidated or the Underlying Securities distributed.

SEC Reporting Failure shalx xxxx xxx meaning set forth in Section 5(i) hereof.

SEC Reporting Failure. Has the meaning set forth in Section 10(g).

SEC Reporting Failure. A determination by the Depositor that any Concentrated Underlying Securities Obligor in respect of such Trust is not filing current or periodic reports required under the Exchange Act or making available comparable reports in the case of a GSE issuer, and that the obligations of such Concentrated Underlying Securities Obligor have not been fully and unconditionally guaranteed or assumed by an entity that (x) is eligible to use Form S-3 or F-3 (or any successor form) for a primary offering of non-investment grade securities or (y) if the Underlying Securities are non-convertible investment grade securities, meets the requirements of General Instruction 1.A of Form S-3 or General Instructions 1.A.1, 2, 3, 4, 6 and 7 of Form F-3.

SEC Reporting Failure means that (i) The Xxxxxxx Xxxxx Group, Inc. has suspended its reporting under the Exchange Act at a time when the Exchange Act reporting requirements applicable to the Trust have not been suspended or terminated, and either (x) the suspension of Exchange Act reporting by the Underlying Securities Guarantor continues for a period of at least one year, or (y) the Underlying Securities Guarantor announces or takes measures that demonstrate in connection with such suspension or at any time thereafter, that it will no longer be a reporting company under the Exchange Act; (ii) the Class A-1 Certificates have been be removed from the DTC book-entry system; (iii) definitive certificates representing the Class A-1 Certificates have been issued to the beneficial owners of the Class A-1 Certificates; and (iv) The Xxxxxxx Sachs Group, Inc. has not resumed filing Exchange Act reports within 60 days of such distribution.

SEC Reporting Failure means that (i) an Available Information Event has occurred, and either (x) the suspension of Exchange Act reporting by the Underlying Securities Guarantor continues for a period of at least one year, or (y) the Underlying Securities Guarantor announces or takes measures that demonstrate, in connection with such suspension or at any time thereafter, that it will no longer be a reporting company under the Exchange Act; (ii) the Class A-1 Certificates have been be removed from the DTC book-entry system; (iii) definitive certificates representing the Class A-1 Certificates have been issued to the beneficial owners of the Class A-1 Certificates; and (iv) the Underlying Securities Guarantor has not resumed filing Exchange Act reports within 60 days of such distribution.

SEC Reporting Failure. SEC Reporting Failure shall have the meaning given to such term in Section 10(j).