Definition of IPS Subordinated Notes


IPS Subordinated Notes means the Subordinated Notes that are represented by IPSs.
Sample 1

Examples of IPS Subordinated Notes in a sentence

The IPS Holders shall and shall be deemed to irrevocably and finally exchange their IPS Subordinated Notes for the New Common Shares, the New Common Shares shall be deemed to be received in full and final settlement of the IPS Subordinated Notes and all Entitlements relating to the IPS Subordinated Notes and under the Subordinated Note Indenture will be irrevocably and fully cancelled and extinguished.
As a result of the treatment of Common Shares and IPS Subordinated Notes under Sections 2.2 and 2.3 herein respectively, and in accordance with the steps and sequence set forth in Section 4.1, on the Effective Date, all of the outstanding IPSs will be exchanged for New Common Shares with the result that one New Common Share will be issued for each IPS with no further action required to be taken by the IPS Holders.
Any transfer or deemed transfer of Common Shares, IPS Subordinated Notes and IPSs pursuant to the Arrangement will be free and clear of any hypothecs, liens, claims, encumbrances, charges, adverse interests or security interests.
In accordance with the steps and sequence set forth in Section 4.1, on the Effective Date, all of the outstanding IPS Subordinated Notes will be exchanged for cancellation in consideration for New Common Shares at the Subordinated Note Exchange Ratio, with no further action required to be taken by the IPS Holders.