Examples of Stock Redemption in a sentence
The Calculation Agent shall determine the Stock Redemption Amount for each $1,000 principal amount of Notes on the Determination Date by dividing $1,000 by the Initial Price.
If the Issuer is required to deliver Underlying Shares pursuant to the terms of the Notes, it shall, or cause the Calculation Agent to, provide written notice to the Trustee at its New York office, on which notice the Trustee may conclusively rely, of the Stock Redemption Amount, on or prior to the Issuer Notice Date.
At maturity, the Issuer shall pay or deliver for each $1,000 principal amount of Notes, either (i) a cash payment equal to $1,000, if the Determination Price on the Determination Date of the Underlying Shares is at or above the Initial Price, or (ii) the number of Underlying Shares equal to the Stock Redemption Amount, if the Determination Price on the Determination Date of the Underlying Shares is lower than the Initial Price.
On the date of such redemption, provided that the Company shall then have paid or caused to be paid in full to the Depositary the redemption price per share of Stock to be redeemed, plus an amount equal to any accrued and unpaid dividends thereon to the date fixed for redemption, in accordance with and as required by the provisions of the Articles (the “Preferred Stock Redemption Price”), the Depositary shall redeem the number of Depositary Shares representing such Stock.
The role of the Company in effectuating redemptions under the Stock Redemption Program will be ministerial.
The Stock Redemption Period for the Capital Stock held by a Member as of the date of the FHLBNY’s receipt of the written notification of the Member’s intent to withdraw from Membership and not already subject to a Redemption Notice shall commence as of that date.
The Stock Redemption Period for shares of Capital Stock acquired or received by such a withdrawing Member after the date that its notice of intent to withdraw is received by the FHLBNY will commence on the date such shares are acquired or received.
The Membership of a Member that has submitted a Written Notice of withdrawal shall terminate as of the date on which the last of the applicable Capital Stock Redemption periods ends for the Capital Stock comprising the Member’s Membership Stock Purchase Requirement, as of the date the Written Notice of withdrawal is submitted, unless the Member has cancelled its notice of withdrawal prior to that date.
The Stock Redemption Period for any Capital Stock acquired or received by the Other Institution after the date of the termination of the Member’s Membership shall commence on the date of acquisition or receipt.
The Stock Redemption Period for the Capital Stock then held by the Other Institution and not already subject to a Redemption Notice shall be deemed to commence on the date on which the Member’s charter is cancelled.