Examples of Securities Entitlement in a sentence
With respect to any Collateral consisting of a Deposit Account, Securities Entitlement or held in a Securities Account, upon execution and delivery by the applicable Obligor, the applicable Securities Intermediary and the Administrative Agent of an agreement granting control to the Administrative Agent over such Collateral, the Administrative Agent shall have a valid and perfected, first priority security interest in such Collateral.
Section 357.12(a) provides that a Participant’s Securities Entitlement is cre- ated when a Federal Reserve Bank indicates by book entry that a Book-entry Security has been credited to a Participant’s Securi- ties Account.
Notes presented and surrendered by a Noteholder shall be aggregated for the purpose of determining the aggregate Securities Entitlement of that Noteholder.
If the aggregate Securities Entitlement of a Noteholder does not comprise a nominal amount of Securities equal to an integral multiple of the minimum denomination of the Securities, the Issuer may not deliver Securities in a nominal amount equal to a fraction of the minimum denomination of the Securities but shall account to each affected Noteholder for the net cash value (if any) of any such fraction, as determined by the Calculation Agent.
The Notes cease to be outstanding on the first day on or after the Settlement Date upon which the Issuer makes the aggregate Securities Entitlement available for delivery in accordance with these Conditions.