Further Provisions Relating to Issuance of Purchase Contracts. Purchase Contracts relating to the purchase of an aggregate of not more than 6,000,000 Depositary Shares (subject to increase up to a maximum of 6,900,000 Depositary Shares pursuant to the Underwriting Agreement), may be executed by the Corporation and delivered to the Agent upon the execution of this Agreement or from time to time thereafter in connection with exchanges, substitutions and transfers of Capital Units. Prior to the original issuance of the Purchase Contracts, the Agent shall have received an Issuer Order of the Corporation directing the countersignature, execution on behalf of the Holder and delivery thereof to or upon the order of the Corporation of the Purchase Contracts to be evidenced by Capital Unit Certificates to be registered in the names of the Holders (with respect to Definitive Capital Units) and a Global Purchase Contract registered in the name of the Book-Entry Unit Depositary (with respect to Book-Entry Capital Units). Subsequent to such original issuance of the Purchase Contracts, the Agent shall, subject to the conditions set forth in this Article and Article Three, countersign and execute on behalf of the Holder Purchase Contracts issued in exchange or substitution for or upon transfer of Capital Unit Certificates evidencing one or more previously countersigned and executed Unsettled Purchase Contracts evidenced by the Capital Unit Certificates to be exchanged, substituted for or transferred.
Appears in 1 contract
Sources: Capital Unit Agreement (Morgan Stanley Group Inc /De/)
Further Provisions Relating to Issuance of Purchase Contracts. Purchase Contracts relating to the purchase of an aggregate of not more than 6,000,000 134,000 Depositary Shares (subject to increase up to a maximum of 6,900,000 Depositary Shares pursuant to the Underwriting Agreement)Shares, may be executed by the Corporation and delivered to the Agent upon the execution of this Agreement or from time to time thereafter in connection with exchanges, substitutions and transfers of Capital Units. Prior to the original issuance of the Purchase Contracts, the Agent shall have received an Issuer Order of the Corporation directing the countersignature, execution on behalf of the Holder and delivery thereof to or upon the order of the Corporation of the Purchase Contracts to be evidenced by Capital Unit Certificates to be registered in the names of the Holders (with respect to Definitive Capital Units) and a Global Purchase Contract registered in the name of the Book-Entry Unit Depositary (with respect to Book-Entry Capital Units). Subsequent to such original issuance of the Purchase Contracts, the Agent shall, subject to the conditions set forth in this Article and Article Three, countersign and execute on behalf of the Holder Purchase Contracts issued in exchange or substitution for or upon transfer of Capital Unit Certificates evidencing one or more previously countersigned and executed Unsettled Purchase Contracts evidenced by the Capital Unit Certificates to be exchanged, substituted for or transferred.
Appears in 1 contract
Sources: Capital Unit Agreement (Morgan Stanley Group Inc /De/)