Restrictions on Transfer of a Definitive Note for a Beneficial Interest in a Global Note. Subject to certain conditions, the Notes represented by the global securities will be exchangeable for Definitive Notes of like tenor and principal amount as such Notes if (1) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for the Global Note and a successor is not appointed within 90 days thereafter or if at any time the Depositary ceases to be a clearing agency registered under the Exchange Act or (2) the Company in their discretion at any time determines not to have all of the Notes represented by the global securities. Any Notes that are exchangeable pursuant to the preceding sentence will be exchanged for Definitive Notes issuable in authorized denominations and registered in such names as the Depositary shall direct.
Appears in 3 contracts
Sources: Indenture (Era Group Inc.), Indenture (Era Group Inc.), Indenture (Seacor Holdings Inc /New/)