Common use of Restricted Global Security to Unrestricted Global Security Clause in Contracts

Restricted Global Security to Unrestricted Global Security. If, at any time, an owner of a beneficial interest in the Restricted Global Security deposited with the Depositary (or the U.S. Trustee as custodian for the Depositary) wishes to transfer its interest in the Restricted Global Security to a Person who is required or permitted to take delivery thereof in the form of an interest in the Unrestricted Global Security, such owner shall, subject to the Applicable Procedures, exchange or cause the exchange of such beneficial interest for an equivalent beneficial interest in the Unrestricted Global Security as provided in this Section 307(a). Upon receipt by the U.S. Trustee of (1) instructions given in accordance with the Applicable Procedures from an Agent Member directing the U.S. Trustee to credit or cause to be credited a beneficial interest in the Unrestricted Global Security in an amount equal to the beneficial interest in the Restricted Global Security to be exchanged, (2) a written order given in accordance with the Applicable Procedures containing information regarding the participant account of the Depositary to be credited with such increase, and (3) a certificate substantially in the form of Exhibit A-1 hereto given by the owner of such beneficial interest, the U.S. Trustee, as Security Registrar, shall instruct the Depositary to reduce or cause to be reduced the aggregate principal amount of the Restricted Global Security and to increase or cause to be increased the aggregate principal amount of the Unrestricted Global Security by the principal amount of the beneficial interest in the Restricted Global Security to be exchanged, to credit or cause to be credited to the account of the Person specified in such instructions a beneficial interest in the Unrestricted Global Security equal to the reduction in the aggregate principal amount of the Restricted Global Security, and to debit, or cause to be debited, from the account of the Person making such exchange or transfer the beneficial interest in the Restricted Global Security that is being exchanged or transferred.

Appears in 2 contracts

Sources: Indenture (Intrawest Corp), Indenture (Intrawest Corp)

Restricted Global Security to Unrestricted Global Security. If, ---------------------------------------------------------- at any time, an owner of a beneficial interest in the a Restricted Global Security deposited with the Depositary (or the U.S. Trustee as custodian for the Depositary) wishes to transfer its interest in the such Restricted Global Security to a Person who is required or permitted to take delivery thereof in the form of an interest in the an Unrestricted Global Security, such owner shall, subject to the Applicable Procedures, exchange or cause the exchange of such beneficial interest for an equivalent beneficial interest in the an Unrestricted Global Security as provided in this Section 307(a313(a). Upon receipt by the U.S. Trustee of (1) instructions given in accordance with the Applicable Procedures from an Agent Member directing the U.S. Trustee to credit or cause to be credited a beneficial interest in the an Unrestricted Global Security in an amount equal to the beneficial interest in the Restricted Global Security to be exchanged, (2) a written order given in accordance with the Applicable Procedures containing information regarding the participant account of the Depositary to be credited with such increase, and (3) a certificate substantially in the form of Exhibit A-1 hereto given by the owner of such beneficial interest, the U.S. Trustee, as Security Securities Registrar, shall instruct the Depositary to reduce or cause to be reduced the aggregate principal amount of the Restricted Global Security and to increase or cause to be increased the aggregate principal amount of the Unrestricted Global Security by the principal amount of the beneficial interest in the Restricted Global Security to be exchanged, to credit or cause to be credited to the account of the Person specified in such instructions a beneficial interest in the Unrestricted Global Security equal to the reduction in the aggregate principal amount of the Restricted Global Security, and to debit, or cause to be debited, from the account of the Person making such exchange or transfer the beneficial interest in the Restricted Global Security that is being exchanged or transferred.

Appears in 1 contract

Sources: Indenture (Globenet Communications Group LTD)