Global Registered Security definition
Examples of Global Registered Security in a sentence
Unless otherwise specified as contemplated by Section 3.01 for the Securities evidenced thereby, every Global Registered Security authenticated and delivered hereunder shall bear a legend in substantially the following form: THIS SECURITY IS A GLOBAL REGISTERED SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF.
Each Global Registered Security will contain provisions which modify the terms and conditions set out in "Terms and Conditions of the Certificates" as they apply to the Global Registered Security.
On each occasion on which a payment is made in respect of a Global Registered Security, the Issuer shall procure that the same is entered pro rata in the records of the Relevant Clearing System.
The following is a summary of certain of those provisions: Transfers of interests in the Certificates: Any transfers of the interest of an Accountholder in any Certificates that are represented by a Global Registered Security must be effected through the relevant Accountholder's account with Euroclear and/or any other relevant clearing system (each a "Clearing System" or "Relevant Clearing System") and in accordance with the rules of the relevant Clearing System.
Exercise dates and times: Exercise of Certificates represented by a Global Registered Security may only be effected on a day on which the relevant Clearing System is open for business in addition to any other relevant day as provided in the Conditions.
Securities registered under the Securities Act, shall be issued initially in the form of one or more permanent global Securities in definitive, fully registered form without interest coupons with the Global Securities Legend set forth in Section 2.2 hereof (each, a "Global Registered Security"), which shall be duly executed by the Company and authenticated by the Trustee as hereinafter provided.
The Registered Securities will initially be in the form of a Global Registered Security which will be exchangeable in whole, but not in part, for Individual Registered Securities (i) if the Relevant Clearing System is closed for business for a continuous period of 14 days (other than by reason of legal holidays) or announces an intention permanently to cease business or (ii) an Event of Default occurs with respect to any Certificate in accordance with the Terms and Conditions of the Certificates.
In relation to Registered Securities, except as otherwise set out in the relevant Pricing Supplement, Securities will be represented upon issue by a Global Registered Security.
An interest in a Global Registered Security may be exchanged or transferred in accordance with the rules and regulations of Euroclear and Clearstream, the transfer restrictions contained in the legend on such Global Registered Security.
For the avoidance of doubt, a Global Registered Security may be held on behalf of Euroclear or Clearstream or any other Clearing System.