Examples of Normal MCAPS in a sentence
If the book-entry system for the Normal MCAPS has been terminated, the Contract Payments will be payable, at the option of the Company, by check mailed to the address of the Person entitled thereto at such Person’s address as it appears on the Security Register, or by wire transfer to the account designated by such Person by a prior written notice to the Stock Purchase Contract Agent.
We hereby notify you that a Termination Event has occurred and that {the Trust Preferred Securities} {the Qualifying Treasury Securities} comprising a portion of your ownership interest in {Normal MCAPS} {Treasury MCAPS} have been released and are being held by us for your account pending receipt of transfer instructions with respect to such {Trust Preferred Securities} {Qualifying Treasury Securities} (the “Released Securities”).
On any Remarketing Date, all outstanding Trust Preferred Securities included in Normal MCAPS will be tendered or deemed tendered to the Remarketing Agent for Remarketing unless the Holder thereof elects not to participate in the Remarketing.
In accordance with Section 6.2(b) of the Stock Purchase Contract Agreement and, based on notices of Settlement with Treasury Securities received from Holders of Normal MCAPS as of 5:00 p.m. (New York City time), on the second Business Day immediately preceding the beginning of the Remarketing Period, we hereby notify you that an aggregate liquidation amount of $ Trust Preferred Securities are to be tendered for purchase in the Remarketing.
The Company shall pay, on each Payment Date, in respect of each Stock Purchase Contract forming part of a Normal MCAPS evidenced hereby, an amount (the “Contract Payments”) equal to 0.15% per year of the Stated Amount, subject to its rights provided for in the Stock Purchase Contract Agreement to defer Contract Payments.
The Collateral Agent shall, promptly after 11:00 a.m., New York City time, on the Business Day immediately preceding the beginning of any Remarketing Period, notify the Remarketing Agent of the aggregate liquidation amount of the Pledged Trust Preferred Securities that are to be remarketed and without any instruction from any Holder of Normal MCAPS, present the related Pledged Trust Preferred Securities to the Remarketing Agent for Remarketing.
Each Normal MCAPS Certificate shall evidence the number of Normal MCAPS specified therein, with each such Normal MCAPS representing (1) the ownership by the Holder thereof of one Trust Preferred Security, subject to the Pledge of such Trust Preferred Security by such Holder pursuant to the Collateral Agreement, and (2) the rights and obligations of the Holder thereof and the Company under one Stock Purchase Contract.
In the event of a Failed Remarketing, the Collateral Agent, for the benefit of the Company, will, at the written instruction of the Company, deliver or dispose of the Pledged Trust Preferred Securities in accordance with the Company’s written instructions to satisfy in full, from any such disposition or retention, such Holders’ obligations to pay the Purchase Price for the Depositary Shares to be issued under the Stock Purchase Contracts underlying such Normal MCAPS.
Such Contract Payments shall be payable to the Person in whose name this Normal MCAPS Certificate is registered at the close of business on the Record Date for such Payment Date.
The signature to this assignment must correspond with the name as it appears upon the face of the within Normal MCAPS Certificates in every particular, without alteration or enlargement or any change whatsoever.