Template:GMRA 2000 2(t): Difference between revisions
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{{gmraprov|2(t)}} Securities are “'''{{gmraprov|equivalent}}''' to” other {{gmraprov|Securities}} for the purposes of this {{gmraprov|Agreement}} if they are: <br> | |||
:(i) of the same issuer; <br> | :(i) of the same issuer; <br> | ||
:(ii) part of the same issue; and (iii) of an identical type, nominal value, description and (except where otherwise stated) amount as those other {{gmraprov|Securities}}, provided that <br> | :(ii) part of the same issue; and (iii) of an identical type, nominal value, description and (except where otherwise stated) amount as those other {{gmraprov|Securities}}, provided that <br> | ||
::(A) Securities will be {{gmraprov|equivalent}} to other {{gmraprov|Securities}} notwithstanding that those {{gmraprov|Securities}} have been redenominated into euro or that the nominal value of those {{gmraprov|Securities}} has changed in connection with such redenomination; and | ::(A) Securities will be {{gmraprov|equivalent}} to other {{gmraprov|Securities}} notwithstanding that those {{gmraprov|Securities}} have been redenominated into euro or that the nominal value of those {{gmraprov|Securities}} has changed in connection with such redenomination; and | ||
::(B) where {{gmraprov|Securities}} have been converted, subdivided or consolidated or have become the subject of a takeover or the holders of {{gmraprov|Securities}} have become entitled to receive or acquire other {{gmraprov|Securities}} or other property or the {{gmraprov|Securities}} have become subject to any similar event, the expression “'''{{gmraprov|equivalent}}''' to” shall mean {{gmraprov|Securities}} {{gmraprov|equivalent}} to (as defined in the provisions of this definition preceding the proviso) the original {{gmraprov|Securities}} together with or replaced by a sum of money or {{gmraprov|Securities}} or other property {{gmraprov|equivalent}} to (as so defined) that receivable by holders of such original {{gmraprov|Securities}} resulting from such event; <br> | ::(B) where {{gmraprov|Securities}} have been converted, subdivided or consolidated or have become the subject of a takeover or the holders of {{gmraprov|Securities}} have become entitled to receive or acquire other {{gmraprov|Securities}} or other property or the {{gmraprov|Securities}} have become subject to any similar event, the expression “'''{{gmraprov|equivalent}}''' to” shall mean {{gmraprov|Securities}} {{gmraprov|equivalent}} to (as defined in the provisions of this definition preceding the proviso) the original {{gmraprov|Securities}} together with or replaced by a sum of money or {{gmraprov|Securities}} or other property {{gmraprov|equivalent}} to (as so defined) that receivable by holders of such original {{gmraprov|Securities}} resulting from such event; <br> | ||
Latest revision as of 16:19, 3 December 2018
2(t) Securities are “equivalent to” other Securities for the purposes of this Agreement if they are:
- (i) of the same issuer;
- (ii) part of the same issue; and (iii) of an identical type, nominal value, description and (except where otherwise stated) amount as those other Securities, provided that
- (A) Securities will be equivalent to other Securities notwithstanding that those Securities have been redenominated into euro or that the nominal value of those Securities has changed in connection with such redenomination; and
- (B) where Securities have been converted, subdivided or consolidated or have become the subject of a takeover or the holders of Securities have become entitled to receive or acquire other Securities or other property or the Securities have become subject to any similar event, the expression “equivalent to” shall mean Securities equivalent to (as defined in the provisions of this definition preceding the proviso) the original Securities together with or replaced by a sum of money or Securities or other property equivalent to (as so defined) that receivable by holders of such original Securities resulting from such event;