Beneficial Interests in Temporary Global Note to Definitive Notes Sample Clauses
The "Beneficial Interests in Temporary Global Note to Definitive Notes" clause governs the process by which holders of beneficial interests in a temporary global note can exchange those interests for definitive, individual notes. Typically, this involves certain conditions being met, such as the completion of required certifications or the expiration of a restricted period, after which the global note is exchanged for physical or registered notes in the names of the beneficial owners. This clause ensures a clear and orderly transition from temporary to definitive securities, addressing regulatory requirements and facilitating the proper allocation of ownership rights.
Beneficial Interests in Temporary Global Note to Definitive Notes. Notwithstanding Sections 2.06(c)(i)(A) and (C) hereof, a beneficial interest in the Temporary Global Note may not be exchanged for a Definitive Note or transferred to a Person who takes delivery thereof in the form of a Definitive Note prior to (A) the expiration of the Restricted Period and (B) the receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act, except in the case of a transfer pursuant to an exemption from the registration requirements of the Securities Act other than Rule 903 or Rule 904.