Ownership of Funds; Restricted Transfers Sample Clauses

Ownership of Funds; Restricted Transfers. Each of the Legal Entities and the QI hereby acknowledge and agree that it is the intent of the parties hereto that funds deposited into the Joint Collection Accounts, Exchange Accounts and Joint Disbursement Accounts and funds held in accounts maintained by the Escrow Agent shall be used solely to enable the QI to perform its obligations hereunder to acquire Replacement Property and shall not be considered part of the QI’s general assets nor subject to claims by the QI’s creditors.
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Ownership of Funds; Restricted Transfers. The Exchangor and PHF hereby acknowledge and agree that it is the intent of the parties hereto that funds deposited into the Reservoir Account shall be used solely to enable PHF to perform its obligations hereunder to acquire Replacement Property and shall not be considered part of PHF’s general assets nor subject to claims by PHF’s creditors.
Sample 1
Ownership of Funds; Restricted Transfers. The Exchangor and the QI hereby acknowledge and agree that it is the intent of the parties hereto that funds deposited into the Master Exchange Account and funds held in accounts maintained by the Escrow Agent shall be used solely to enable the QI to perform its obligations hereunder to acquire Replacement Property and shall not be considered part of the QI’s general assets nor subject to claims by the QI’s creditors (other than a Master Exchange Lender to the extent that such funds represent proceeds of Master Exchanged Vehicle Repurchase Rights that have been pledged to such Master Exchange Lender pursuant to a Master Exchange Financing Agreement to the extent permitted herein), nor, except as previously noted, shall the QI have any right, title and interest in and to such funds.
Sample 1
Ownership of Funds; Restricted Transfers. Exchanger and Intermediary hereby acknowledge and agree that it is the intent of the parties hereto that funds deposited into the Exchange Funds Account shall be used solely to enable Intermediary to perform its obligations hereunder to acquire Replacement Property and shall not be considered part of Intermediary’s general assets nor subject to claims by Intermediary’s creditors, nor, except as set forth herein, shall Intermediary have any right, title and interest in and to such funds. Exchanger and Intermediary acknowledge and agree that income earned on a Joint Account will be attributable to Exchanger for income tax purposes.
Sample 1

Related to Ownership of Funds; Restricted Transfers

  • Transfer of Beneficial Interests to Another Restricted Global Note A beneficial interest in any Restricted Global Note may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer complies with the requirements of Section 2.06(b)(2) above and the Registrar receives the following:

  • Restricted Global Note to Restricted Definitive Note In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a Restricted Definitive Note with an equal principal amount, the Owner hereby certifies that the Restricted Definitive Note is being acquired for the Owner’s own account without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted Definitive Note issued will continue to be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note and in the Indenture and the Securities Act.

  • Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes If any holder of a beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Restricted Definitive Note, then, upon receipt by the Registrar of the following documentation:

  • Regulation S Global Security to Restricted Global Security If a holder of a beneficial interest in a Regulation S Global Security deposited with or on behalf of DTC wishes at any time to transfer its interest in such Regulation S Global Security to a Person who wishes to take delivery thereof in the form of an interest in a Restricted Global Security, such holder may, subject to the rules and procedures DTC, exchange or cause the exchange of such interest for an equivalent beneficial interest in a Restricted Global Security. Upon receipt by the Trustee, as Certificate Registrar, of (I) instructions from DTC directing the Trustee, as Certificate Registrar, to cause to be credited a beneficial interest in a Restricted Global Security in an amount equal to the beneficial interest in such Regulation S Global Security to be exchanged but not less than the minimum denomination applicable to such holder’s Certificates held through a Restricted Global Security, to be exchanged, such instructions to contain information regarding the participant account with DTC to be credited with such increase, and (II) a certificate in the form of Exhibit N-2 hereto given by the holder of such beneficial interest and stating, among other things, that the Person transferring such interest in such Regulation S Global Security reasonably believes that the Person acquiring such interest in a Restricted Global Security is a QIB, is obtaining such beneficial interest in a transaction meeting the requirements of Rule 144A and in accordance with any applicable securities laws of any State of the United States or any other jurisdiction, then the Trustee, as Certificate Registrar, will reduce the principal amount of the Regulation S Global Security and increase the principal amount of the Restricted Global Security by the aggregate principal amount of the beneficial interest in the Regulation S Global Security to be transferred and the Trustee, as Certificate Registrar, shall instruct DTC, concurrently with such reduction, to credit or cause to be credited to the account of the Person specified in such instructions a beneficial interest in the Restricted Global Security equal to the reduction in the principal amount of the Regulation S Global Security.

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