Equivalent Securities Clause Samples

Equivalent Securities. The Broker or the Broker’s nominee, shall not be required to deliver to or return to the Client the identical Securities delivered to or deposited with the Broker. However, the Securities actually delivered or returned shall be of the same class, denomination and nominal amount as and have equal rank in every respect with the Securities originally delivered or deposited (subject to any capital reorganization that may have occurred in the interim).

Equivalent Securities. The term “Equivalent Securities” shall have the meaning set forth in Section 4(c).

Equivalent Securities. (i) Each holder of Class A-II Units shall be entitled to elect to receive in consideration for its Capital Contribution pursuant to Section 4.1(d), in lieu of Class A-II Units, a debt instrument issued by the Partnership having substantially equivalent rights and obligations as Class A-II Units (an “Equivalent Security”). (ii) Each Equivalent Security shall (A) be evidenced by a note in form and substance reasonably acceptable to the Board of Directors, (B) be fully transferrable subject to the same terms and conditions as Class A-II Units (including Sections 3.4, 3.8, 3.9, 3.10 and 3.11), (C) be issued at a face value equivalent to the Class A Unit Price at which Class A Units are being issued to other Class A Limited Partners in connection with their applicable Capital Contributions at such time, (D) have a coupon tied to Class A-II Unit distributions, (E) have restrictions against prepayment or redemption except to the extent of any redemption and/or buyback of the Class A Units, (F) be unsecured and (G) contain such other terms and conditions as equivalent as possible as Class A-II Units. The Partnership and each of the Partners agree to treat the Equivalent Securities as equity for all federal, state and local income tax purposes. (iii) In addition to the foregoing, each Equivalent Security shall be convertible into one Class A-II Unit at any time at the election of the holder thereof and shall automatically convert to one Class A-II Unit immediately prior to a Liquidity Event, Tag-Along Sale, Drag-Along Sale, any liquidation or dissolution of the Partnership and as otherwise specified herein. Upon conversion of an Equivalent Security, any amounts paid prior to conversion as interest on such Equivalent Security shall be deemed to be amounts paid as distributions on the applicable converted Class A-II Unit for purposes of all calculations hereunder. (iv) In the event of a Bankruptcy of the Partnership, any subsidiary of the Partnership or the General Partner, (A) the Partnership shall have the option to convert all outstanding Equivalent Securities to Class A-II Units prior to the filing of such Bankruptcy by delivering written notice of such conversion to the Class A-II Representative (a “Conversion Notice”) for delivery to the holders of Class A-II Units and (B) if a Conversion Notice is not delivered to the Class A-II Representative prior to the filing of any Bankruptcy or is delivered but deemed ineffective by a court of competent jurisdiction, the...

Equivalent Securities. For the purposes of this Agreement, “Equivalent Securities” has the same definition as provided under the GMSLA, and refers to securities of an identical type, nominal value, description and amount as the loaned Securities. If the loaned Securities consist of securities that are partly paid or have been converted, sub-divided, 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, such new or different securities or other assets shall, effective upon the occurrence of the relevant event, be deemed to become Equivalent Securities.

Equivalent Securities. (a) For the purposes of paragraph 10 of the Agreement, a non-Defaulting Party may elect to treat the Underlying Asset as equivalent to the relevant Asset- backed Digital Asset for the purposes of calculating the Default Market Value. (b) The parties may agree to treat the Underlying Asset of an Asset-backed Digital Asset as equivalent to such Asset-backed Digital Asset for any purpose or purposes. (c) Platform Transferred Securities are not a separate asset from the applicable traditional physical or dematerialised Security and on that basis, unless otherwise agreed, the Equivalent Securities or Equivalent Margin Securities (as applicable) for a Platform Transferred Security are not required to be Platform Transferred Securities.

Equivalent Securities. For the avoidance of doubt, with respect to Purchased Securities (and without limiting the applicability of 2(t)(B) or the second sentence of 2(s), in each case of the Master Agreement), only the CLO Notes (or, where applicable, Distributions in respect thereof) will be considered to be “equivalent to” the CLO Notes.

Equivalent Securities. This paragraph sets out which assets are "equivalent" to Asset-backed Digital Assets. Importantly, a non-Defaulting Party may elect to treat the Underlying Asset as equivalent to the relevant Asset-backed Digital Asset for the purposes of calculating the Default Market Value. There is no obligation on the non-Defaulting Party to do so.

Equivalent Securities. For the purposes of paragraph 2(v) of the Agreement, Bills shall be equivalent to other Securities if they are of an identical amount and maturity and executed by the same parties in the same capacities as those other Securities and, in the case of Securities which incorporate ▇▇▇▇▇▇▇▇, incorporate the same ▇▇▇▇▇▇▇▇ as those other Securities.