Separate Preferred Securities definition
Examples of Separate Preferred Securities in a sentence
The Custodial Agent will hold such Separate Preferred Securities in an account separate from the Collateral Account.
Separate Preferred Securities shall be issued in the form of one or more printed or typewritten Book-Entry Preferred Securities Certificates to be delivered to The Depository Trust Company, the initial Clearing Agency, by, or on behalf of, the Trust.
Holders of Separate Preferred Securities shall give notice of their election to have such Separate Preferred Securities remarketed to the Custodial Agent and deliver such Separate Preferred Securities to the Custodial Agent pursuant to the Pledge Agreement.
Each such Definitive Preferred Securities Certificate and Book-Entry Preferred Securities Certificate shall represent such number of the Outstanding Preferred Securities as shall be from time to time endorsed thereon, which numbers may be increased or decreased, as applicable, to reflect, in connection with the creation of Treasury Units and the recreation of Corporate Units, transfers between Pledged Preferred Securities and Separate Preferred Securities.
Holders of Separate Preferred Securities shall give notice of their election to have such Preferred Securities remarketed to the Custodial Agent and deliver such Separate Preferred Securities to the Custodial Agent pursuant to the Pledge Agreement.
The Custodial Agent shall hold Separate Preferred Securities or Separate Notes, as the case may be, in an account separate from the Collateral Account in which the Pledged Securities shall be held.
No later than 10:00 a.m., New York City, time on the fourth Business Day immediately preceding September 16, 2004, and any Subsequent Remarketing Date, the Custodial Agent will deliver to the Remarketing Agent for remarketing all Separate Preferred Securities delivered to the Custodial Agent pursuant to this Section 4.5(c) and not withdrawn pursuant to the terms hereof prior to such date.
On the fourth Business Day prior to September 16, 2004, by 10:00 a.m., New York City time, the Custodial Agent shall notify the Remarketing Agent of the number of such Separate Preferred Securities to be remarketed.
A holder of Separate Preferred Securities electing to have its Separate Preferred Securities remarketed will also have the right to withdraw such election by written notice to the Custodial Agent, substantially in the form of Exhibit D hereto, no later than 5:00 p.m., New York City time, on the fifth Business Day immediately preceding September 16, 2004, and any Subsequent Remarketing Date, upon which notice the Custodial Agent will return such Separate Preferred Securities to such holder.
With respect to Separate Preferred Securities or Notes, any proceeds of the Initial Remarketing in excess of the Remarketing Fee attributable to the Separate Preferred Securities or Notes will be remitted to the Custodial Agent for payment to the holders of Separate Preferred Securities or Notes.