Subseries Sample Clauses
The Subseries clause defines the creation and management of separate groups or classes of securities within a larger series, often in the context of investment funds or structured finance. It specifies how each subseries may have distinct rights, obligations, or performance characteristics, such as different maturity dates, interest rates, or risk profiles. This clause enables the issuer to tailor offerings to different investor needs and helps segregate assets and liabilities, thereby providing flexibility and clarity in structuring financial products.
Subseries. The Bonds shall initially be issued in one subseries. The Borrower may designate additional subseries into which the Bonds or any subseries thereof shall be divided, or merge the Bonds of two or more subseries into a single subseries of Bonds, in either case by Borrower Order effective on a Mandatory Purchase Date for all such Bonds and delivered to the Trustee, the Remarketing Agent for such Bonds, the Credit Facility Providers (if any) for such Bonds, the Liquidity Facility Providers (if any) for such Bonds, and each Rating Agency maintaining a rating for such Bonds not less than 5 Business Days (or such shorter period acceptable to the Trustee), plus the minimum number of days’ notice of such Mandatory Purchase Date which the Trustee must give to the Holders of such Bonds pursuant to Article IV, prior to the effective date of such designation. Unless each such Rating Agency shall have confirmed that such designation or merger will not result in a reduction, suspension, or withdrawal of any such rating, the notice of such Mandatory Tender Date shall state that the rating assigned to such Bonds may then be reduced, suspended, or withdrawn by such Rating Agency.
Subseries. As provided in the Bond Indenture, the Bonds may be divided into subseries. This Bond is one of the subseries, if any, specified in its title.