Notes Held by the Issuer Clause Samples
The "Notes held by the Issuer" clause defines how debt securities (notes) that are owned or reacquired by the issuer are treated under the terms of the agreement. Typically, this clause specifies whether such notes are considered outstanding for purposes like voting, interest payments, or calculating quorum, and may outline procedures for cancellation or resale of these notes. Its core function is to prevent conflicts of interest and ensure accurate accounting by clarifying that notes held by the issuer do not confer rights or obligations as if held by third parties.
Notes Held by the Issuer. In determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent or any amendment, modification or other change to this Indenture, Notes owned by the Issuer or by an Affiliate of the Issuer shall be disregarded and treated as if they were not outstanding, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent or any amendment, modification or other change to this Indenture, only Notes which a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Notes so owned which have been pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to the Notes and that the pledgee is not the Issuer or an Affiliate of the Issuer.
Notes Held by the Issuer. In the absence of written notice to the contrary, the Trustee may assume without enquiry (other than requesting a certificate of the Issuer for the Guarantor under subclause 7(i) (Notes held by the Issuer or Guarantor), that no Notes are for the time being held by or for the benefit of the Issuer or the Guarantor or any Subsidiary or any holding company of the Issuer or the Guarantor;
Notes Held by the Issuer in the absence of knowledge or express notice to the contrary, the Trustee may assume without enquiry (other than requesting a certificate of the Issuer under sub-clause 5.8 (Notes held by Issuer), that no Notes are for the time being held by or for the benefit of the Issuer or its Subsidiaries;
Notes Held by the Issuer at any time after the Issuer and/or the Borrower or any subsidiary of the Borrower shall have purchased any Notes and retained such Notes for its own account or for the account of any other company, notify the Trustee to that effect and thereafter deliver to the Trustee as soon as practicable after being so requested in writing by the Trustee a certificate of the Issuer signed by two members of the Board of Directors of the Issuer setting out the total number of Notes which, at the date of such Note, are held by the Issuer for its own account or for the account of any other company or the Borrower or any subsidiary of the Borrower for its, or that Subsidiary’s, own account or for the account of any other company;
Notes Held by the Issuer the Guarantor etc.: send to the Trustee as soon as practicable after being so requested by the Trustee in writing a certificate of the Issuer or the Guarantor (as the case may be) signed by any two Directors of the Issuer or the Guarantor, as applicable, stating the number of Notes held at the date of such certificate by or on behalf of the Issuer, the Guarantor or any of their respective Subsidiaries;
Notes Held by the Issuer. At any time after the Issuer or any Subsidiary of the Issuer has purchased any Notes and retained such Notes for its own account (if then permitted by the Conditions), notify the Trustee to that effect and thereafter deliver to the Trustee as soon as practicable after being so requested in writing by the Trustee a certificate of the Issuer signed by the requisite number of Authorised Signatories setting out the total number of Notes which, at the date of such certificate, are held by the Issuer or any Subsidiary of the Issuer for its or the Subsidiary’s own account.