Securities Repaid Clause Samples
The 'Securities Repaid' clause defines the process and conditions under which securities that have been lent or otherwise transferred are returned to the original party. Typically, this clause outlines the timing, method, and requirements for the repayment or return of equivalent securities, ensuring that the lender receives back the same type and amount of securities as originally provided. Its core practical function is to ensure the proper restitution of securities at the end of a lending or borrowing arrangement, thereby protecting the interests of the original owner and maintaining the integrity of the transaction.
Securities Repaid. On the date that the Invested Amount in respect of the Securities has been reduced to zero, or the Securities are redeemed in full or are deemed to have been redeemed in full under the Series Supplement, whichever is the earlier, Party A's obligations under Sections 17 and 18 will cease and Party B must pay to Party A on that date the Outstanding Interest Rate Swap Prepayment Amount and interest on such payment."
(15) Transfer:
Securities Repaid. On the date that the Invested Amount in respect of the Securities has been reduced to zero, or the Securities are redeemed in full or are deemed to have been redeemed in full under the Series Supplement, whichever is the earlier, Party A's obligations under Sections 17 and 18 will cease and Party B must pay to Party A on that date the Outstanding Interest Rate Swap Prepayment Amount and interest on such payment.".