Examples of VPS Bonds in a sentence
The CSD in respect of the VPS Bonds, initially being VPS, shall perform its obligations as CSD solely in respect of the VPS Bonds and in accordance with the rules and regulations as regularly applied to it in relation to Norwegian bond offerings, and shall, for the avoidance of doubt, have no obligations in respect of the SEK Bonds.
The VPS Bonds will be registered in accordance with the Norwegian Securities Register Act and the relevant CSD Regulations, and the SEK Bonds will be registered in accordance with the Swedish Financial Instruments Accounts Act and the relevant CSD Regulations.
Notwithstanding the above, the VPS Bonds shall be registered pursuant to Norwegian securities laws and the SEK Bonds shall be registered pursuant to Swedish securities laws.
The CSD in respect of SEK Bonds, initially being Euroclear, shall perform its obligations as CSD solely in respect of the SEK Bonds and in accordance with the rules and regulations for issuers and issuing agents as regularly applied to it in relation to Swedish bond offerings, and shall, for the avoidance of doubt, have no obligations in respect of the the VPS Bonds.
The CSD in respect of SEK Bonds, initially being Euroclear, shall perform its obligations as CSD solely in respect of the SEK Bonds and in accordance with the rules and regulations for issuers and issuing agents as regularly applied to it in relation to Swedish bond offerings, and shall, for the avoidance of doubt, have no obligations in respect of the VPS Bonds.
The CSD in respect of SEK Bonds initially being Euroclear, shall perform its obligations as CSD solely in respect of the SEK Bonds and in accordance with the rules and regulations for issuers and issuing agents as regularly applied to it in relation to Swedish bond offerings, and shall, for the avoidance of doubt, have no obligations in respect of the the VPS Bonds.
The SEK Bonds will be registered in accordance with the Swedish Financial Instruments Accounts Act and the terms and conditions of Euroclear and the VPS Bonds will be registered in accordance with the Norwegian Securities Register Act and the terms and conditions of VPS.
As it is not possible to directly transfer the ISIN for the Bonds from Euroclear Sweden AB to Verdipapirsentralen ASA, the change of CSD would instead be effected by issuing new bonds with a new ISIN with Verdipapirsentralen ASA as CSD (the "VPS Bonds") and thereafter carrying out a mandatory exchange of Bonds for VPS Bonds (the "Exchange").
Interest under the VPS Bonds will be paid entirely in kind by way of issuance of additional VPS Bonds in an amount corresponding to the interest payable for the relevant Interest Period (the "PIK Bonds"), with the first interest payment date under the PIK Bonds being 6 March 2022.
The Issuer shall redeem the Bonds in full (including accrued but unpaid Interest, in respect of the SEK Bonds, from (but excluding) and with respect of the VPS Bonds from (and including) the Issue Date to, in respect of the SEK Bonds (and including) and in respect of the VPS Bonds (but excluding), the relevant Redemption Date) on a Redemption Date specified in the notice from the Issuer, such Redemption Date to fall no later than ten (10) Business Days after the notice is served to the Trustee.