Common use of Stapled Securities Clause in Contracts

Stapled Securities. Stapled Securities issued in global form will be substantially in the form of Exhibit F-1 hereto (including the Global Stapled Security Legend thereon and the schedules attached thereto). Stapled Securities to which Restricted Securities are attached shall be issued in certificated form and shall include the Restricted Security Legend (excluding the last paragraph thereof) thereon. Stapled Securities issued in certificated form will be substantially in the form of Exhibit F-2 hereto. Each Global Stapled Security will represent such of the outstanding Stapled Securities as will be specified therein and each shall provide that it represents the aggregate principal amount of outstanding Notes and Common Shares from time to time endorsed thereon or attached thereto and that the aggregate principal amount of outstanding Notes and Common Shares represented thereby may from time to time be reduced or increased, as appropriate, to reflect the payment of PIK Interest, exchanges and redemptions, repurchases of Notes, transfers of Notes and conversions, share splits, dividends and reclassifications and as otherwise provided therein. Any endorsement of a Global Stapled Security to reflect the amount of any increase or decrease in the aggregate principal amount of outstanding Notes or Common Shares represented thereby will be made by the Security Registrar or the Security Custodian, at the direction of the Company, with corresponding endorsements to be made in respect of the related Global Note and global Common Share certificate. Each Stapled Security issued in certificated form will represent such of the outstanding Stapled Securities as will be specified therein and each shall provide that it represents the aggregate principal amount of outstanding Notes and Common Shares from time to time endorsed thereon or attached thereto, and that the aggregate principal amount of outstanding Notes and Common Shares represented thereby may from time to time be reduced or increased, as appropriate, to reflect the payment of PIK Interest, exchanges and redemptions, repurchases of Notes, transfers of Notes and conversions, share splits, dividends and reclassifications and otherwise as provided therein. To reflect the amount of any increase or decrease in the aggregate principal amount of outstanding Notes or Common Shares represented by a Stapled Security in certificated form, the Security Registrar or the Security Custodian, at the direction of the Company, shall reflect the amount of any such increase or decrease in the aggregate principal amount of outstanding Notes or Common Shares on the records of the Security Registrar or Security Custodian and such records shall be controlling (absent manifest error) as to the outstanding principal amount of any Notes or Common Shares represented by any such certificated Stapled Security.

Appears in 2 contracts

Sources: Indenture (OFFSHORE GROUP INVESTMENT LTD), Indenture (Vantage Drilling Netherlands B.V.)