Shared Securities Sample Clauses
The Shared Securities clause defines how certain securities are collectively owned or held by multiple parties under an agreement. In practice, this clause outlines the rights, responsibilities, and procedures for managing, transferring, or disposing of these jointly held securities, such as specifying voting rights or how proceeds from a sale are distributed among the holders. Its core function is to ensure clarity and prevent disputes by establishing clear rules for the shared ownership and administration of securities.
Shared Securities. 41 2.12 Trustee's Duties................................................41 2.13
Shared Securities. (a) (Not sell etc. Shared Securities): The Trustee must not, and the Manager must not direct the Trustee to, sell, transfer or grant any Security Interest over any Shared Security which is held by it partly as trustee for the Series Trust and partly by it as trustee for the CBA Trust without notifying the relevant transferee or holder of the Security Interest of the existence of the interest of the Relevant Seller as beneficiary of the CBA Trust in that Shared Security.
Shared Securities. The Security Trustee is bound by clause 7.3 of the Series Supplement in respect of each Shared Security notified by the Servicer to the Security Trustee in writing to be affected by the CBA Trust as if a reference therein to the Trustee was a reference to both the Security Trustee and the Receiver. -------------------------------------------------------------------------------- 3. Payment of Secured Moneys
Shared Securities. 42 2.12 Trustee's Duties.........................................................................42 2.13 Substitute Trustee.......................................................................42 2.14 Transfer of the CBA Trust Assets to Sellers on termination of CBA Trust..................43 2.15
Shared Securities. The Trustee must not, and the Trust Manager must not direct the Trustee to, sell, transfer or grant any Security Interest over any Shared Security which is held by it partly as trustee for the Trust and partly by it as trustee for the Seller Trust without notifying the relevant transferee or holder of the Security Interest of the existence of the interest of the Seller as beneficiary of the Seller Trust in that Shared Security.
Shared Securities. (a) (NOT SELL ETC. SHARED SECURITIES): The Trustee must not, and the Manager must not direct the Trustee to, sell, transfer or grant any Security Interest over any Shared Security which is held by it partly as trustee for the Series Trust and partly by it as trustee for the CBA Trust without notifying the relevant transferee or holder of the Security Interest of the existence of the interest of the relevant Seller as beneficiary of the CBA Trust in that Shared Security.