Treasury Units definition

Treasury Units means the collective rights and obligations of a Holder of a Treasury Units Certificate in respect of the Treasury Securities, subject to the Pledge thereof, and the related Purchase Contract.

Treasury Units shall have the meaning specified in the Purchase Contract Agreement.

Treasury Units has the meaning given to such term in the first paragraph of this Agreement;

Examples of Treasury Units in a sentence

• The Security Registrar shall record separately the registration and transfer of the Certificates evidencing Corporate Units and Treasury Units.

• At the option of the Holder, Certificates may be exchanged for other Certificates, of any authorized denominations and evidencing a like number of Corporate Units or Treasury Units, as the case may be, upon surrender of the Certificates to be exchanged at the Corporate Trust Office.

• All Certificates issued upon any registration of transfer or exchange of a Certificate shall evidence the ownership of the same number of Corporate Units or Treasury Units, as the case may be, and be entitled to the same benefits and subject to the same obligations under this Agreement as the Corporate Units or Treasury Units, as the case may be, evidenced by the Certificate surrendered upon such registration of transfer or exchange.

• If any mutilated Certificate is surrendered to the Purchase Contract Agent, the Company shall execute and deliver to the Purchase Contract Agent, and the Purchase Contract Agent shall authenticate, execute on behalf of the Holder, and deliver in exchange therefor, a new Certificate, evidencing the same number of Corporate Units or Treasury Units, as the case may be, and bearing a Certificate number not contemporaneously outstanding.

• The Treasury Units Certificates are issuable only in registered form and only in denominations of a single Treasury Unit and any integral multiple thereof.

More Definitions of Treasury Units

Treasury Units means a Security, initially issued in substantially the form set forth as Exhibit B hereto in a Stated Amount of [$50], which represents (i) a [1/20] undivided beneficial ownership in a Treasury Security having a principal amount at maturity equal to $1,000, and (ii) the rights and obligations of the Company and the Holder under one Purchase Contract.

Treasury Units means, following the substitution of Qualifying Treasury Securities for Debentures as collateral to secure a Holder’s obligations under the applicable Stock Purchase Contract, the collective rights and obligations of a Holder of a Treasury Unit Certificate in respect of such Treasury Securities, subject to the Pledge thereof, and the related Stock Purchase Contract.

Treasury Units means ATN Common Units owned by ATN or any of its Subsidiaries at the Effective Time.

Treasury Units means a Security, initially issued in substantially the form set forth as Exhibit B hereto in a Stated Amount of $[50], which represents (i) a 1/20 undivided beneficial ownership in a Treasury Security having a principal amount at maturity equal to $1,000, and (ii) the rights and obligations of the Company and the Holder under one Share Purchase Contract.

Treasury Units. ($[50] Stated Amount) This Treasury Unit Certificate certifies that ___________ is the registered Holder of the number of Treasury Units set forth above. Each Treasury Unit represents (a) a stock Share Purchase Contract of FirstEnergy Corp., an Ohio corporation (the "Company") (as modified and supplemented and in effect from time to time, a "Share Purchase Contract") and (b) a 1/20, or 5% undivided beneficial ownership interest in a Treasury Security. All capitalized terms used herein without definition herein have the meaning set forth in the Share Purchase Contract Agreement referred to below. Pursuant to the Pledge Agreement, the Treasury Securities constituting part of each Treasury Unit evidenced hereby have been pledged to the Collateral Agent, for the benefit of the Company, to secure the obligations of the Holder under the Share Purchase Contract comprising a portion of such Treasury Unit. The Pledge Agreement provides that all payments of the principal of any Treasury Securities received by the Collateral Agent shall be paid by the Collateral Agent by wire transfer in same day funds (i) in the case of any principal payments with respect to any Treasury Securities that have been released from the Pledge pursuant to the Pledge Agreement, to the Holders of the applicable Treasury Units to the accounts designated by them in writing for such purpose no later than 2:00 p.m. New York City time, on the Business Day such payment is received by the Collateral Agent (provided that in the event such payment is received by the Collateral Agent on a day that is not a Business Day or after 12:30 p.m., New York City time, on a Business Day, then such payment shall be made no later than 10:30 a.m., New York City time on the next succeeding Business Day), and (ii) in the case of the principal of any Pledged Treasury Securities, to the Company on the Share Purchase Contract Settlement Date (as defined herein) in accordance with the terms of the Pledge Agreement, in full satisfaction of the respective obligations of the Holders of the Treasury Units of which such Pledged Treasury Securities are a part under the Purchaser Contracts forming a part of such Treasury Units. Each Share Purchase Contract evidenced hereby obligates the Holder of this Treasury Unit Certificate to purchase, and the Company, to sell not later than [_____], 200[_] (the "Share Purchase Contract Settlement Date"), at a price of $[50] in cash (the "Purchase Price"), a number of newly issued shares ...

Treasury Units means a Security, initially issued in substantially the form set forth as Exhibit B hereto in a Stated Amount of $__, which represents _________________________________.

Treasury Units means a Security, initially issued in substantially the form set forth as Exhibit B hereto in a Stated Amount of $50, which represents (i) a 1/20 undivided beneficial ownership in a Treasury Security having a principal amount at maturity equal to $1,000, and (ii) the rights and obligations of the Company and the Holder under one Purchase Contract. "Treasury Unit Certificate" means a certificate evidencing the rights and obligations of a Holder in respect of the number of Treasury Units specified on such certificate. "Treasury Unit Register" and "Treasury Unit Registrar" have the respective meanings specified in Section 3.5. "Underwriting Agreement" means the Underwriting Agreement dated June 6, 2002 relating to the offer and sale of Corporate Units among the Company, FPL Group Capital, Xxxxxxx, Xxxxx & Co. and Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated as representatives of the underwriters. "Vice President" means any vice president, whether or not designated by a number or a word or words added before or after the title "vice president."