Equivalent Securities definition

Equivalent Securities with respect to a Transaction, Securities equivalent to Purchased Securities under that Transaction. If and to the extent that such Purchased Securities have been redeemed, the expression shall mean a sum of money equivalent to the proceeds of the redemption;

Equivalent Securities in connection with any Securities Loan means securities of the same issue, class and quantity as the Borrowed Securities that are the subject of such Securities Loan and shall include the certificates and other documents of or evidencing title and transfer in respect of the foregoing, as appropriate. If and to the extent that such Borrowed Securities are partly paid or have been converted, sub-divided, consolidated, redeemed or made the subject of a takeover or rights issue, the expression shall have the following meaning:

Equivalent Securities means in relation to any situation where there has been a substitution of Purchased Securities in terms of Clause 6 hereof, securities of the same type, nominal value, description and amount as the Purchased Securities;

Examples of Equivalent Securities in a sentence

• Borrower may terminate a Loan at any time and deliver Equivalent Securities or an amount equal to the Market Value (as defined below) of Equivalent Securities to Lender.

• Where any voting rights fall to be exercised in relation to any Loaned Securities or Collateral, neither Borrower, in the case of Equivalent Securities, nor Lender, in the case of Equivalent Collateral, shall have any obligation to arrange for voting rights of that kind to be exercised in accordance with the instructions of the other party in relation to the Securities borrowed by it or transferred to it by way of Collateral, as the case may be, unless otherwise agreed between the parties.

• The Default Market Value of the Equivalent Securities and Equivalent Non-Cash Collateral to be delivered and the amount of any Cash Collateral (including sums accrued) to be repaid and any other cash (including interest accrued) to be paid by each party are required to be established by the Non-Defaulting Party and deemed as at the Termination Date.

• Purchases or sales of Securities by a Portfolio Manager within seven calendar days of a purchase or sale of the same Securities (or Equivalent Securities) by an Advisory Client managed by that Portfolio Manager, unless the purchase or sale is a Program Trade.

• The Securities Lending Agreement sets out a detailed methodology for determining the market value of Equivalent Securities and Equivalent Non-Cash Collateral following the occurrence of an Event of Default (the “Default Market Value”).

More Definitions of Equivalent Securities

Equivalent Securities means at any time shares of any class of Capital Stock or other securities or interests of a Person which are substantially equivalent to the Voting Securities of such Person other than by reason of not having voting rights, including, for the avoidance of doubt, the Series A Participating Preferred Stock.

Equivalent Securities means securities of an identical type, nominal value, description and number, of the same issuer and of the same class, as the Loaned Securities.

Equivalent Securities means Securities, which, at the time of substitution, have Market Value equal to or greater than the Market Value of the original Underlying Securities for which they are to be substituted and which meet such other criteria as may be specified by the Regulator by notice in writing from time to time;

Equivalent Securities means securities of an identical type, nominal value, description and amount to particular Securities borrowed and such term shall include the certificates and other documents of or evidencing title and transfer in respect of the foregoing (as appropriate). If and to the extent that such Securities are partly paid or have been converted, subdivided, consolidated, redeemed, made the subject of a takeover, capitalisation issue, rights issue or event similar to any of the foregoing, the expression shall have the following meaning:

Equivalent Securities means securities of an identical type, nominal value, description and amount to particular Securities borrowed and such term will include the certificate and other documents of or evidencing title and transfer in respect of the foregoing (if appropriate). If and to the extent that such Securities are partly paid or have been converted, subdivided, consolidated, redeemed, made the subject of a takeover, capitalisation issue, rights issue or event similar to any of the foregoing, the expression will have the following meaning:

Equivalent Securities means Transferred Securities or Securities of the same issuer, issue, class and quantity as Transferred Securities (or equivalent thereof in the event of a reorganisation, recapitalisation or merger of the issuer of the Transferred Securities).

Equivalent Securities means securities issued by the same issuer being of an identical type and having the same nominal value, description and amount;