Cancellation and/or Adjustment of Global Securities. At such time as all beneficial interests in a particular Global Security have been exchanged for Definitive Securities or a particular Global Security has been redeemed, repurchased or canceled in whole and not in part, each such Global Security shall be returned to or retained and canceled by the Trustee in accordance with Section 2.10. At any time prior to such cancellation, if (x) any beneficial interest in a Global 2022 Security is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global 2022 Security or for Definitive 2022 Securities, the principal amount of 2022 Notes represented by such Global 2022 Security shall be reduced accordingly and an endorsement shall be made on such Global 2022 Security by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global 2022 Security, such other Global 2022 Security shall be increased accordingly and an endorsement shall be made on such Global 2022 Security by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase or (y) any beneficial interest in a Global 2025 Security is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global 2025 Security or for Definitive 2025 Securities, the principal amount of 2025 Notes represented by such Global 2025 Security shall be reduced accordingly and an endorsement shall be made on such Global 2025 Security by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global 2025 Security, such other Global 2025 Security shall be increased accordingly and an endorsement shall be made on such Global 2025 Security by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase.
Appears in 1 contract
Sources: Indenture (Owens-Illinois Group Inc)
Cancellation and/or Adjustment of Global Securities. At such time as all beneficial interests in a particular Global Security have been exchanged for Definitive Securities or a particular Global Security has been redeemed, repurchased or canceled in whole and not in part, each such Global Security shall be returned to or retained and canceled by the Trustee in accordance with Section 2.10. At any time prior to such cancellation, if (x) any beneficial interest in a Global 2022 2023 Security is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global 2022 2023 Security or for Definitive 2022 2023 Securities, the principal amount of 2022 2023 Notes represented by such Global 2022 2023 Security shall be reduced accordingly and an endorsement shall be made on such Global 2022 2023 Security by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global 2022 2023 Security, such other Global 2022 2023 Security shall be increased accordingly and an endorsement shall be made on such Global 2022 2023 Security by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase or (y) any beneficial interest in a Global 2025 Security is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global 2025 Security or for Definitive 2025 Securities, the principal amount of 2025 Notes represented by such Global 2025 Security shall be reduced accordingly and an endorsement shall be made on such Global 2025 Security by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global 2025 Security, such other Global 2025 Security shall be increased accordingly and an endorsement shall be made on such Global 2025 Security by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase.
Appears in 1 contract
Sources: Indenture (Owens-Illinois Group Inc)