Common use of Regulation S Global Security to Restricted Global Security Clause in Contracts

Regulation S Global Security to Restricted Global Security. If, at any time, an owner of a beneficial interest in a Regulation S Global Security deposited with the Depositary or with the Trustee as custodian for the Depositary wishes to transfer its interest in such Regulation S Global Security to a Person who is required or permitted to take delivery thereof in the form of an interest in a Restricted Global Security, such owner shall, subject to the Applicable Procedures, exchange or cause the exchange of such interest for an equivalent beneficial interest in a Restricted Global Security, as provided in this Section 307(b). Upon receipt by the Trustee of (1) instructions given in accordance with the Applicable Procedures from an Agent Member, directing the Trustee, as Registrar, to credit or cause to be credited a beneficial interest in the Restricted Global Security equal to the beneficial interest in the Regulation S Global Security to be exchanged, (2) a written order given in accordance with the Applicable Procedures containing information regarding the participant account of the Depositary to be credited with such increase and (3) if such transfer is requested prior to the expiration of the Restricted Period, a certificate in the form of Exhibit C attached hereto given by the owner of such beneficial interest, the Trustee, as Registrar, shall instruct the Depositary to reduce or cause to be reduced the aggregate principal amount of such Regulation S Global Security and to increase or cause to be increased the aggregate principal amount of the applicable Restricted Global Security by the principal amount of the beneficial interest in the Regulation S Global Security to be exchanged, and the Trustee, as Regixxxxx,

Appears in 2 contracts

Samples: Indenture (Laidlaw Environmental Services Inc), Safety Kleen Corp/

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Regulation S Global Security to Restricted Global Security. If, at any time, an owner If during the Restricted Period the holder of a beneficial interest in a the Regulation S Global Security deposited with the Depositary or with the Trustee as custodian for the Depositary wishes to transfer its such interest in such Regulation S Global Security to a Person who is required or permitted wishes to take delivery thereof in the form of an a beneficial interest in a the Restricted Global Security, such owner shalltransfer may be effected, subject to the Applicable Procedures, exchange or cause the exchange of such interest for an equivalent beneficial interest only in a Restricted Global Security, as provided in accordance with this Section 307(b2.5(b)(3). Upon receipt by the Trustee Trustee, as Security Registrar, at its office in The City of New York of (1A) written instructions given in accordance with the Applicable Procedures from an Agent Member, Member directing the Trustee, as Registrar, Trustee to credit or cause to be credited to a specified Agent Member's account of a beneficial interest in the Restricted Global Security in a principal amount equal to that of the beneficial interest in the Regulation S Global Security to be exchangedso transferred, (2B) a written order given in accordance with the Applicable Procedures containing information regarding the participant account of the Depositary Agent Member to be credited with with, and the account or the Agent Member (and, if applicable, the Euroclear or CEDEL account, as the case may be) to be debited for, such increase beneficial interest and (3C) if such transfer is requested prior to the expiration of the Restricted Period, a certificate in substantially the form of set forth in Exhibit C attached hereto D given by the owner holder of such beneficial interest, the Trustee, as Security Registrar, shall instruct the Depositary to reduce or cause to be reduced the aggregate principal amount of such the Regulation S Global Security and to increase or cause to be increased the aggregate principal amount of the applicable Restricted Global Security Security, by the principal amount of the beneficial interest in the Regulation S Global Security to be exchangedso transferred, and to credit or cause to be credited to the Trusteeaccount of the Person specified in such instructions a beneficial interest in the Restricted Global Security having a principal amount equal to the amount by which the principal amount of the Regulation S Global Security, as Regixxxxx,the case may be, was reduced upon such transfer.

Appears in 1 contract

Samples: Indenture (Comverse Technology Inc/Ny/)

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Regulation S Global Security to Restricted Global Security. If, at any time, an owner If during the Restricted Period the holder of a beneficial interest in a the Regulation S Global Security deposited with the Depositary or with the Trustee as custodian for the Depositary wishes to transfer its such interest in such Regulation S Global Security to a Person who is required or permitted wishes to take delivery thereof in the form of an a beneficial interest in a the Restricted Global Security, such owner shalltransfer may be effected, subject to the Applicable Procedures, exchange or cause the exchange of such interest for an equivalent beneficial interest only in a Restricted Global Security, as provided in accordance with this Section 307(b3.05(b)(iii). Upon receipt by the Trustee Trustee, as Security Registrar, at its Corporate Trust Office of (1A) written (or other format acceptable to the Trustee) instructions given in accordance with the Applicable Procedures from an Agent Member, Member directing the Trustee, as Registrar, Trustee to credit or cause to be credited to a specified Agent Member's account a beneficial interest in the Restricted Global Security in a principal amount equal to that of the beneficial interest in the Regulation S Global Security to be exchangedso transferred, (2B) a written (or other format accessible to the Trustee) order given in accordance with the Applicable Procedures containing information informa tion regarding the participant account of the Depositary Agent Member to be credited with (and if required by the Trustee, the beneficial owner for whose account such increase credit is made), and the account of the Agent Member to be debited for, such beneficial interest and (3C) if such transfer is requested prior to the expiration of the Restricted Period, a certificate in substantially the form of Exhibit set forth in Annex C attached hereto given by the owner holder of such beneficial interest, the Trustee, as Security Registrar, shall instruct the Depositary U.S. Depository to reduce or cause to be reduced the aggregate principal amount of such the Regulation S Global Security and to increase or cause to be increased the aggregate principal amount of the applicable Restricted Global Security Security, by the principal amount of the beneficial interest in the Regulation S Global Security to be exchangedso transferred, and to credit or cause to be credited to the Trusteeaccount of the Agent Member specified in such instruc tions a beneficial interest in the Restricted Global Security having a principal amount equal to the amount by which the principal amount of the Regulation S Global Security, as Regixxxxx,the case may be, was reduced upon such transfer.

Appears in 1 contract

Samples: America Online Inc

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