Examples of Loaned Security in a sentence
If the issuer of any Loaned Security engages in a recapitalization, merger, consolidation or other corporate action, such that a new or different security is exchanged for the Loaned Security, such new or different security shall, effective upon such exchange, be deemed to become a Loaned Security in substitution for the former Loaned Security.
Eurex Clearing AG will, in respect of each Dispute Resolution Procedure, establish a dispute resolution committee that will decide on disputes between a Lender Clearing Member and a Borrower Clearing Member on the taking of action in connection with a Voluntary Reorganisation that relates to a Loaned Security as further set out in these Dispute Resolution Rules (each, a "DR Committee").
Pursuant to Chapter IX Part 2 Number 2.7.4 of the Clearing Conditions, Eurex Clearing AG may, in certain circumstances where a Termination Date occurs in respect of a Borrower Clearing Member, conduct, on an ad hoc basis, a verification procedure (the "Ad hoc Verification Procedure") with respect to instructions that are provided by a Lender Clearing Member in relation to the taking of action in connection with a Voluntary Reorganisation that relates to a Loaned Security.
In order to effect the payment, collection or reflection of income, distributions, and corporate actions pursuant to this Section 1.2(c), in the event that the holder of a security constituting a Loaned Security is entitled to elect the type of distribution to be received from two or more alternatives, such election shall be made by GSI, in its discretion.
If over the course of a Securities Loan, any new or different securities shall be exchanged for any Loaned Security by recapitalization, merger, consolidation or other corporate action, such new or different security shall, effective upon such exchange, be deemed to become a Loaned Security in substitution for the former Loaned Security for which such exchange is made.