Non-Permitted Holder definition

Non-Permitted Holder. The meaning specified in Section 2.11(b).

Non-Permitted Holder means (i) any U.S. person that becomes the Holder or beneficial owner of an interest in any Note that (a) is not either (1) a Qualified Institutional Buyer and a Qualified Purchaser (or an entity owned exclusively by Qualified Purchasers) or (2) solely in the case of Subordinated Notes held in the form of Definitive Securities, an Institutional Accredited Investor and a Qualified Purchaser (or an entity owned exclusively by Qualified Purchasers) or (b) does not have an exemption available under the Securities Act and the Investment Company Act, (ii) any Non-Permitted ERISA Holder or (iii) any Non-Permitted Tax Holder.

Non-Permitted Holder has the meaning provided in Section 4.02(s)(ii).

Examples of Non-Permitted Holder in a sentence

• The proceeds of such sale, net of any commissions, expenses and taxes due in connection with such sale shall be remitted to the Non-Permitted Holder.

• Each Noteholder and each other Person in the chain of title from the permitted Noteholder to the Non-Permitted Holder by its acceptance of an interest in such Notes agrees to co-operate with the Issuer to effect such transfers.

• It acknowledges and agrees that if the Issuer determines that such holder (or its affiliate) is an Affected Bank the Issuer, in its sole discretion, may treat (if necessary or helpful to reduce the likelihood that such ownership may cause withholding under Treasury Regulations Section 1.881-3) such holder as a Non-Permitted Holder and, thus, may cause the transfer of all or of a portion of the applicable Subordinated Notes.

• Furthermore, the Issuer shall not honour a transfer of beneficial interests in any Note to any person who is a Non-Permitted Holder.

• The Trust Deed provides that if, notwithstanding the restrictions on transfer contained therein, the Issuer determines that any holder of an interest in a Rule 144A Note is a Non-Permitted Holder, the Issuer shall require the sale of the relevant Notes subject to and in accordance with the Conditions.

More Definitions of Non-Permitted Holder

Non-Permitted Holder. The meaning specified in Section 2.5(g)(ii).

Non-Permitted Holder. The meaning specified in Section 2.12(b).

Non-Permitted Holder has the meaning given in Section 2.12(b). “Office” has the meaning given in Section 6.1(a).

Non-Permitted Holder. (a) Any U.S. Person that becomes the beneficial owner of any Preferred Shares or interest in Preferred Shares and is not a Qualified Institutional Buyer and a Qualified Purchaser, (b) any Person for which the representations made, or deemed to be made, by such Person for purposes of ERISA, Section 4975 of the Code or applicable Similar Law in any representation letter or Purchaser Certificate, or by virtue of deemed representations are or become untrue, (c) any Benefit Plan Investor or (d) a Non-Permitted AML Holder.

Non-Permitted Holder. The meaning specified in Section 2.11(b) and any Non-Permitted AML Holder.

Non-Permitted Holder. (a) Any U.S. person (as defined in Regulation S) that becomes the beneficial owner of any Preferred Shares or interest in Preferred Shares and is not a Qualified Institutional Buyer, (b) any Person for which the representations made, or deemed to be made, by such Person for purposes of ERISA, Section 4975 of the Code or applicable Similar Law in any representation letter or Purchaser Certificate, or by virtue of deemed representations are or become untrue, or (c) any Benefit Plan Investor.

Non-Permitted Holder means any person other than a Permitted Holder (as defined below);