Examples of Substitute Escrowed Securities in a sentence
The Escrow Agent shall purchase such Substitute Escrowed Securities with the proceeds derived from the sale, transfer, disposition or redemption of the Escrowed Securities together with any other funds available for such purpose.
At the written request of the City and upon compliance with the conditions hereinafter stated, the Escrow Agent shall have the power to sell, transfer, request the redemption of or otherwise dispose of the Escrowed Securities and to substitute for the Escrowed Securities solely cash or Substitute Escrowed Securities.
If the original Escrowed Securities become available and are tendered to the Escrow Agent, the Escrow Agent shall accept such Escrowed Securities, shall return the Substitute Escrowed Securities and shall notify Special Counsel and the City of the transaction.
The Escrow Agent shall purchase such Substitute Escrowed Securities with the proceeds derived from any such sale, transfer, disposition or redemption of the Escrowed Securities together with any other funds available for such purpose.
The Escrow Trustee shall purchase such Substitute Escrowed Securities with the proceeds derived from the sale, transfer, disposition or redemption of the original Escrowed Securities, together with any other funds available for such purpose.
The sale, transfer, disposition or redemption of the original Escrowed Securities, and the purchase of the Substitute Escrowed Securities, occur simultaneously.