Treasury HITS definition
Examples of Treasury HITS in a sentence
The Trust will make Distributions on the Treasury HITS only to the extent it has received payments from the Sponsor on the Corresponding Assets.
In addition, additional Distributions constituting the Treasury HITS Treasury Roll Over Amount as described in the Declaration is also payable on the Treasury HITS.
The Coupon Rate is payable on the stated liquidation amount of $1,000 per Treasury HITS, such rate being the rate of Contract Payments payable with respect to the Notes to be held by the Property Trustee on behalf of the Trust.
Dated: Signature NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Treasury HITS Certificates in every particular, without alteration or enlargement or any change whatsoever.
For so long as Stock Purchase Contracts are included within the Trust Property, within five Business Days after the receipt of notice of the Sponsor’s exercise of its right to defer Contract Payments, the Property Trustee or the Regular Trustees shall transmit, in the manner and to the extent provided in Section 12.8, notice of such exercise to the Holders of the Preferred HITS and the Treasury HITS, unless such exercise shall have been revoked.
For so long as shares of Preferred Stock are included within the Trust Property, within five Business Days after the receipt of notice of the Sponsor’s determination not to pay dividends on a dividend payment date, the Property Trustee shall transmit, in the manner and to the extent provided in Section 12.8, notice of such decision to the Holders of the Preferred HITS and Treasury HITS, unless such notice shall have been revoked.
Dated: THE BANK OF NEW YORK as Property Trustee By: Authorized Signatory AMENDED AND RESTATED DECLARATION OF TRUST Distributions payable on each Treasury HITS will be set at ·% per annum accruing for each Treasury HITS from the Regular Distribution Date immediately preceding its issuance, on a cumulative basis (the “Coupon Rate”).
Additionally, in addition to and notwithstanding the foregoing, the Trustees shall not consent to any amendment to the Certificate of Designations or the Sponsor’s certificate of incorporation that would change the dates on which dividends are payable on the Preferred Stock or the amount of such dividends, without the prior written consent of each Holder of Preferred HITS and Treasury HITS.
In addition to obtaining the foregoing approvals of the Holders of Preferred HITS and Treasury HITS, prior to taking any of the foregoing actions, the Regular Trustees shall, at the expense of Sponsor, obtain an Opinion of Counsel experienced in such matters to the effect that such action shall not cause the Trust to be classified as an association or a publicly traded partnership taxable as a corporation for U.S. federal income tax purposes.
Section 5.13(d) of the Declaration provides for the procedures pursuant to which Holders of Corporate HITS and Treasury HITS may exchange Corporate HITS and Treasury HITS for Preferred HITS and Qualifying Treasury Securities and Section 5.14(f) of the Declaration provides for the procedures pursuant to which Holders of Corporate HITS may elect to exchange Corporate HITS in the event a Remarketing is Successful.