Wind-Up Event definition
Examples of Wind-Up Event in a sentence
As set forth in the Agreement, a Trust Wind-Up Event will result in an Additional Termination Event under the Agreement with respect to which Party B shall be the Affected Party and this Transaction shall be an Affected Transaction.
If a Trust Wind-Up Event occurs, any Underlying Securities held by the Trust will be liquidated (by delivery to the Underlying Security Issuer in the event of a redemption, pursuant to the Warrant Terms in the event of an exercise of the Warrants or otherwise by sale thereof).
If the Depositor (or, if applicable, its permitted assignee) owns 100% of the Units, then it shall have the power to designate a distribution of the Trust Property to the Unitholders and the termination of the Trust (a "Special Depositor Wind-Up Event") pursuant to this Article IX.
If the Selling Agent cannot obtain a bid for the Securities in excess of the amount specified in the Swap Agreement, then the Securities will not be sold, the Swap Counterparty's exercise will be rescinded (and the Swap Counterparty shall be entitled to exercise such call rights in the future) and any related Trust Wind-Up Event will be deemed not to have occurred.
If the Trust Agreement specifies that this provision shall be applicable, the Trustee shall provide notice of this right to Unitholders together with an estimate of the amount of any Swap Termination Payment and applicable Extraordinary Trust Expense at the time the Trustee provides notice to Unitholders of such Trust Wind-Up Event or Liquidation Event.
If a Trust Wind-Up Event occurs, any Securities held by the Trust will be liquidated (by delivery to the Security Issuer in the event of a redemption).
The Trustee shall use reasonable efforts to cause such terminations and liquidations within thirty days of the occurrence of such Trust Wind-Up Event.
Subject to Section 9.06, as promptly as possible after the occurrence of a Trust Wind-Up Event, unless otherwise provided in the Trust Agreement, the Trustee on behalf of the Trust shall terminate all Swap Agreements, Credit Support and other agreements of the Trust, the Trustee shall permit delivery of any Trust Property to any Swap Counterparty or other person in accordance with any Swap Agreement or other agreement, and the Trustee shall cause the Selling Agent to liquidate all Trust Property.
If the Selling Agent cannot obtain a bid for the Securities in excess of 100% of the aggregate Unit Principal Balance of the Class A Units to be redeemed and accrued interest on the Securities to be sold, then the Securities will not be sold, the Swap Counterparty's exercise will be rescinded (and the Swap Counterparty shall be entitled to exercise such Option(s) in the future) and any related Trust Wind-Up Event will be deemed not to have occurred.
If no Initial Member delivers a Dissolution Notice prior to the Dissolution Notice Deadline, then the business of the Company will continue to be operated in accordance with the Approved Plan as if the Wind-Up Event had not occurred and the Capital Contribution commitments set forth in Sections 2.2, 2.3, 2.4 and 2.9 shall remain in full force and effect.