P-Caps definition
Examples of P-Caps in a sentence
If the Trust distributes the Notes to the holders of the P-Caps upon its dissolution and termination, then prior to such distribution, the Notes shall, and the Company shall take commercially reasonable efforts to cause the Notes to, be exchanged for one or more Global Notes and the Depository shall be DTC; provided that, if such Notes are not eligible to be settled through DTC at the time of such distribution, such Notes will be distributed in the form of one or more individual Securities.
The Notes will be subject to Legal Defeasance as described below only if they are distributed to holders of the P-Caps upon the Trust’s dissolution and termination.
In the event that the Company or any of its Affiliates requests that the trustee of the Trust exchange P-Caps for Notes pursuant to Section 5.4(e) of the Trust Declaration, the Trustee shall register the transfer of such Notes to the Company or any of its Affiliates or, if requested by the Company or any of its Affiliates, cancel such Notes in accordance with Section 2.11 of the Base Indenture.
In the event the Notes are distributed to the holders of the P-Caps upon the termination of the Trust, such Notes will be exchangeable for other Notes, in any authorized denominations, for the same aggregate principal amount and having the same terms.
If this Note has been distributed by the Trust to the holders of the P-Caps upon the dissolution and termination of the Trust and is not represented by a Global Note, at the option of the Company, payment may be made by (i) check mailed to the address of the person entitled thereto as such address shall appear in the Security Register or (ii) Holders of the Notes must make arrangements to have their payments picked up at or wired from the corporate trust office of the Trustee.
For the avoidance of doubt, the Trustee shall have no duty, obligation or responsibility to take any action in connection with such notice, other than forwarding to Holders of the P-Caps upon request.
The Senior Secured Notes Trustee shall not have any duty to calculate, monitor or track the Maximum P-Caps Outstanding Amount.
Holders of the P-Caps electing to have any P-Caps purchased pursuant to a Change of Control Offer (as evidenced by their surrender) shall be required to surrender the P-Caps to the paying agent for the P-Caps on the third Business Day preceding the Change of Control Payment Date (the “Change of Control Offer Expiration Date”).
Holders of the P-Caps electing to have any P-Caps purchased pursuant to a Change of Control Offer shall be required to surrender the P-Caps to the paying agent for the P-Caps on the Change of Control Offer Expiration Date.
Vistra Operations and the Trust will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the P-Caps as a result of a Change of Control Trigger Event.