Substitute Securities has the meaning specified in Section 3.01.

Substitute Securities is defined in Section 15.

Substitute Securities means (i) obligations fully guaranteed by the United States of America; (ii) demand deposits, time deposits or certificates of deposit of depository institutions or trust companies, the commercial paper, if any, of which has the highest rating from the rating agencies; (iii) commercial paper or other short-term obligations having, at the time of the investment therein, a rating in the highest rating category from the rating agencies; or (iv) notes or bankers' acceptances issued by any depository institutions or trust companies, the commercial paper, if any, of which has the highest rating from the rating agencies.

Examples of Substitute Securities in a sentence

Such moneys, unless invested in Substitute Securities in accordance with Section 3.7 hereof, shall be distributed to Unitholders pursuant to Section 3.5 hereof on the Distribution Date following the failure of consummation of such purchase.
Such Substitute Securities shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Section 3.3. The provisions of this Section 3.3 shall similarly apply to successive reclassifications, changes, consolidations, mergers, sales and transfers.
Any Substitute Securities received by the Trustee shall be deposited hereunder and shall be subject to the terms and conditions of this Indenture to the same extent as other Securities deposited hereunder.
In the following cases, JSCC may realise the Substitute Securities deposited with JSCC by a Clearing Participant or a Clearing Customer by the method, at the time and at the price, etc.
JSCC deems appropriate (in respect of the Substitute Securities denominated in a foreign currency, including the conversion of the proceeds from such realisation into the Japanese Yen or realisation in the Japanese Yen) or may directly exercise the right based on such Substitute Securities, and may appropriate the proceeds less the expenses required for the realisation, etc.

More Definitions of Substitute Securities

Substitute Securities means any security:

Substitute Securities shall have the meaning ascribed to such term in Section 7.2.

Substitute Securities means any securities acquired by Seller for investment prior to the Effective Time with the proceeds from the sale of the Municipal Securities.

Substitute Securities means any securities:

Substitute Securities has the meaning specified in Section 301.

Substitute Securities has the meaning assigned thereto in Paragraph 16(a).

Substitute Securities has the meaning assigned to such term in Section 17(a) hereof.