VPS Account definition

VPS Account. Any allocation of Offer Shares in the Private Placement is conditional upon the Applicant holding a VPS account. The VPS account number must be stated in the Application Agreement. VPS accounts can be established with authorized VPS registrars, who can be Norwegian banks, authorized securities brokers in Norway and Norwegian branches of credit institutions established within the European Economic Area (“EEA”). Establishment of a VPS account requires verification of identity to the VPS registrar in accordance with the Anti-Money Laundering Legislation. However, non-Norwegian investors may use nominee VPS accounts registered in the name of a nominee. The nominee must be authorized by the Financial Supervisory Authority of Norway. Please note that Applicants must themselves notify changes in registered information on the VPS account directly to the Applicant’s account manager, and that the Applicant is responsible for any consequences if correct information is not registered on the VPS account. Notices produced by the VPS (including inter alia notices of allotment) will be sent to the address registered on the VPS account.

VPS Account means an account registered in the name of the Participant with the Norwegian Central Securities Depository, Verdipapirsentralen ASA.

VPS Account means the VPS account of the Issuer to be established with DNB Bank ASA as account operator for the purpose of holding Roll-Over Bonds until disbursement of the funds from the Escrow Account, upon which the Roll-Over Bonds will be cancelled. The VPS Account shall be blocked and pledged in favour of the Bond Trustee (on behalf of Bondholders delivering Roll-Over Bonds as settlement for subscription of Bonds).

Examples of VPS Account in a sentence

• On delivery of a copy of such VPS Letter, including the applicable Final Terms, to the VPS and notification to the VPS of the subscribers and their VPS account details by the relevant Dealer, the VPS Account Manager will credit each subscribing account holder with the VPS with a nominal amount of VPS Notes equal to the nominal amount for which it has subscribed and paid.

• The quorum at any such meeting for passing an Extraordinary Resolution is one or more persons holding a certificate (dated no earlier than 14 days prior to the meeting) from either the VPS or the VPS Account Manager stating that the holder is entered into the records of the VPS as a Noteholder or representing not less than 50 per cent.

• The statements in the Conditions include summaries of, and are subject to, the detailed provisions of the Agency Agreement and, in the case of VPS Notes, the VPS Account Manager Agreement.

• In the case of VPS Notes, the Notes have the benefit of a VPS Account Manager Agreement (such VPS Account Manager Agreement as amended and/or supplemented and/or restated from time to time, the VPS Account Manager Agreement) dated 8 May 2015 and made between the Issuer and DNB Bank ASA (the VPS Account Manager, which expression shall include any successor account manager in relation to VPS Notes cleared through VPS) and the Agency Agreement to the extent specified therein.

• The Noteholders and the Couponholders are deemed to have notice of, and are entitled to the benefit of, all the provisions of the Agency Agreement, the VPS Account Manager Agreement, the Deed Poll, the Deed of Covenant and the applicable Final Terms or (in the case of Exempt Notes) Pricing Supplement which are applicable to them.

More Definitions of VPS Account

VPS Account means an investor account in the VPS.

VPS Account means the account opened by the Borrower with the Norwegian Central Securities Depository in Norway (account number 06001.0000000) including, without limitation, all securities from time to time registered on that account).

VPS Account. Any allocation of Offer Shares is conditional upon the Applicant holding a VPS account. The VPS account number must be stated below. VPS accounts can be established with authorized VPS registrars, who can be Norwegian banks, authorized securities brokers in Norway and Norwegian branches of credit institutions established within the EEA. Establishment of a VPS account requires verification of identity to the VPS registrar in accordance with the Anti-Money Laundering Legislation. However, non-Norwegian investors may use nominee VPS accounts registered in the name of a nominee or Euroclear or Clearstream. The nominee must be

VPS Account means the Pledgor’s VPS account no. 11090 057 4994.

VPS Account the Borrower's VPS account No. 09680004580 in Norway which is administered by the Bank and wherein the ACL Shares are electronically registered in Norway.

VPS Account means the securities account no. 060012041962 with the Norwegian Central Securities Depository opened in the name of the Borrower and charged in favour of the Agent.

VPS Account means an investor account in the VPS. References to any provision of any statute shall be deemed also to refer to any statutory modification or re-enactment thereof or any statutory instrument, order or regulation made thereunder or under such modification or re-enactment. References to any issue or offer or grant to Shareholders or Existing Shareholders “as a class” or “by way of rights” shall be taken to be references to an issue or offer or grant to all or substantially all Shareholders or Existing Shareholders, as the case may be, other than Shareholders or Existing Shareholders, as the case may be, to whom, by reason of the laws of any territory or requirements of any recognised regulatory body or any other stock exchange or securities market in any territory or in connection with fractional entitlements, it is determined not to make such issue or offer or grant. In making any calculation or determination of Current Market Price or Volume Weighted Average Price, such adjustments (if any) shall be made as an Independent Financial Adviser considers appropriate to reflect any consolidation or sub-division of the Common Shares or any issue of Common Shares by way of capitalisation of profits or reserves, or any like or similar event. If, at the relevant time for the purposes of any calculation required to be made pursuant to these Conditions, the Common Shares are traded on the Relevant Exchange in the form of ADSs, ADRs, GDRs or any other certificates or receipts, such modifications (if any) may be made to the operation of these Conditions as an Independent Financial Adviser considers to be appropriate. For the purposes of Conditions 6(b), (c), (h) and (i) and Condition 11 only, (a) references to the “issue” of Common Shares shall include the transfer and/or delivery of Common Shares, whether newly issued and allotted or previously existing or held by or on behalf of the Issuer or any of its Subsidiaries, and (b) Common Shares held by or on behalf of the Issuer or any of its respective Subsidiaries (and which, in the case of Conditions 6(b)(iv) and (vi), do not rank for the relevant right or other entitlement) shall not be considered as or treated as “in issue”.