Replacement Securities definition

Replacement Securities means securities of the same issuer, class and denomination as Loaned Securities.

Replacement Securities means securities (other than the Securities) sold or issued by the Guarantor or any subsidiary of the Guarantor to third party purchasers (other than group entities of the Guarantor) and which are assigned by S&P, at the time of their sale or issuance, an “equity credit” that is equal to or greater than the “equity credit” assigned to the Securities (or any part thereof) to be redeemed or repurchased at their time of issuance (but taking into account any changes in hybrid capital methodology or another relevant methodology or the interpretation thereof since the issuance of the Securities); and

Replacement Securities is defined in Section 13.1 of the Master Securities Loan Agreement (2000) (the “MSLA”) as “a like amount of Loaned Securities”, with “like amount” referring to the amount of Loaned Securities not re-transferred to Lender upon Termination of the related Loan. “Loaned Security” is defined in MSLA §25.33 to mean any Security transferred in a Loan under the MSLA, until such Security (or an identical Security) is transferred back to Lender. Such term includes any new or replacement Security which is exchanged for any Loaned Security due to recapitalization, merger, consolidation or other corporate action. For purposes of return of Loaned Securities pursuant to §13 [Defaults], “Loaned Securities” shall include Securities of the same issuer, class, and quantity as the Loaned Securities, as adjusted pursuant to the preceding sentence. “Equivalent” is defined in paragraph 2.1 of the Global Master Securities Lending Agreement (2010) (“GMSLA”) in relation to Loaned Securities to mean Securities or other property, of an identical type, nominal value, description and amount to particular Loaned Securities so provided. If and to the extent that such Loaned Securities consist of Securities that are partly paid or have been converted, subdivided, consolidated, made the subject of a takeover, rights of pre-emption, rights to receive securities or a certificate which may at a future date be exchanged for Securities, the expression shall include such Securities or other assets to which Lender is entitled following the occurrence of the relevant event, and, if appropriate, the giving of the relevant notice in accordance with paragraph 6.7 of the GMSLA and provided that Lender has paid to the Borrower all and any sums due in respect thereof. In the event that such Loaned Securities have been redeemed, are partly paid, are the subject of a capitalisation issue or are subject to an event similar to any of the foregoing events described in this paragraph, the expression shall have the following meanings:

Examples of Replacement Securities in a sentence

• No interest or other consideration shall accrue on the money or the Replacement Securities, etc.

• The Issuer shall also arrange for such unauthenticated Temporary Global Securities, Permanent Global Securities, Definitive Securities, Coupons and Talons as are required to enable the Replacement Agents to perform their obligations under Clause 5 (Replacement Securities, Coupons and Talons) to be made available to or to the order of the Replacement Agents from time to time.

• The purchase price of Replacement Securities purchased under this Section 13.1 shall include, and the proceeds of any sale of Collateral shall be determined after deduction of, broker’s fees and commissions and all other reasonable costs, fees and expenses related to such purchase or sale (as the case may be).

• The purchase price of Replacement Securities purchased under this Section 13 shall include, and the proceeds of any sale of Collateral shall be determined after deduction of, broker’s fees and commissions and all other reasonable costs, fees and expenses related to such purchase or sale (as the case may be).

• The relevant Issuer shall ensure that each of the Fiscal Agent and the Replacement Agent holds sufficient Securities to fulfil its respective obligations under this Clause 4 (Issuance of Securities) and Clause 5 (Replacement Securities) and each of the Fiscal Agent and the Replacement Agent undertakes to notify the relevant Issuer if it holds insufficient Securities for such purposes.

More Definitions of Replacement Securities

Replacement Securities has the meaning set forth in Section 13.5.1 hereof.

Replacement Securities has the meaning set forth in Section 5(j).

Replacement Securities has the meaning given to it in Clause 13.2(b);

Replacement Securities shall have the meaning assigned thereto in Section 7(b) hereof.

Replacement Securities has the meaning set forth in Section 5(j) of the Remarketing Agreement.

Replacement Securities means (i) subordinated debt securities (other than the Subordinated Note) that are issued by DEPFA Finance N.V. and having the same ranking in a liquidation of DEPFA Finance N.V. as the Subordinated Note, or (ii) subject to the prior approval of the Regulator, such other instruments issued by a member of the Group as the General Partner may determine from time to time, in each case having in all material commercial respects, pricing and economic terms which are equivalent to the Subordinated Note held by the Issuer as initial partnership assets;

Replacement Securities means, collectively, Replacement Compensation Options, Replacement Options and Replacement RSUs.