Common use of Cancellation or Adjustment of Global Capital Security Clause in Contracts

Cancellation or Adjustment of Global Capital Security. At such time as all beneficial interests in the Global Capital Security have either been exchanged for Definitive Capital Securities to the extent permitted by this Trust Agreement or redeemed, repurchased or canceled in accordance with the terms of this Trust Agreement, such Global Capital Security shall be returned to the Clearing Agency for cancellation or retained and canceled by the Property Trustee. At any time prior to such cancellation, if any beneficial interest in the Global Capital Security is exchanged for Definitive Capital Securities, Capital Securities represented by such Global Capital Security shall be reduced and an adjustment shall be made on the books and records of the Property Trustee and the Clearing Agency or its nominee to reflect such reduction.

Appears in 8 contracts

Samples: Trust Agreement (Webster Capital Trust Vi), Trust Agreement (Webster Capital Trust Vi), Trust Agreement (Webster Capital Trust VII)

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Cancellation or Adjustment of Global Capital Security. At such time as all beneficial interests in the a Global Capital Security have either been exchanged for Definitive Capital Securities to the extent permitted by this Trust Agreement Declaration or redeemed, repurchased or canceled in accordance with the terms of this Trust AgreementDeclaration, such Global Capital Security shall be returned to the Clearing Agency for cancellation or retained and canceled by the Property Trustee. At any time prior to such cancellation, if any beneficial interest in the a Global Capital Security is exchanged for Definitive Capital Securities, Capital Securities represented by such Global Capital Security shall be reduced and an adjustment shall be made on the books and records of the Property Trustee Clearing Agency and the Clearing Agency or its nominee Registrar, to reflect such reduction.

Appears in 1 contract

Samples: Mainstreet Bankgroup Inc

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Cancellation or Adjustment of Global Capital Security. At such ----------------------------------------------------- time as all beneficial interests in the Global Capital Security have either been exchanged for Definitive Capital Securities to the extent permitted by this Trust Agreement or redeemed, repurchased or canceled in accordance with the terms of this Trust Agreement, such Global Capital Security shall be returned to the Clearing Agency for cancellation or retained and canceled by the Property Trustee. At any time prior to such cancellation, if any beneficial interest in the Global Capital Security is exchanged for Definitive Capital Securities, Capital Securities represented by such Global Capital Security shall be reduced and an adjustment shall be made on the books and records of the Property Trustee and the Clearing Agency or its nominee to reflect such reduction.

Appears in 1 contract

Samples: Trust Agreement (Greater Bay Bancorp)

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