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Res 1989-003
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Res 1989-003
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Last modified
8/1/2007 3:31:53 PM
Creation date
12/9/2003 4:22:11 PM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
1989-03
Date
1/9/1989
Volume Book
94
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<br />(I) ""Price Dttrerentlar', wfth ,,~ to ant "hnIac:tion hereunder as of any dati, h awrtgate <br />ImOUnt oÞtained by dally Ippl"aeation of"" Pricing Rat, tw lUd11tanudion tø ,. Purchase Ptict lor <br />aè b.nsa ction en a 360 da Y PI r YI at bas II for the actual nurrbI r or (fa ys durin; the pe ricd ~ ~ <br />on (and ~udjng) the Purc:nue Date lot 8UCh 'hn&acticn and end"ang on (but excluding) b dati of <br />-'ermination (rwduced br atrt ImCU1t of 8UCh Price œer1K1S.iaJ prevtcusfy paJd by SlUer 8ø Buyer wtzh <br />I8IpeC:t to such ~; <br />0> "'Pricing Ratl~ .... per 8rftIm PlrtWntlge I'8t8 far determInation of '" fIric:e Dtff8f'lntiaf: <br />(k) -Prime Rate", the prime rate of U.s. IIICIn8y Cl8nter convnerdal baMa .. puÞüIhed k\ 1M ..., <br />I:IrHt .JournM; <br />(I) "f'.IrcN.se Date~ ... date 01\ which Purchued Secur1ties 11'1 nnsfetT8d by Sener to Buytr; <br />(m) "Furd\&se Pric::e~ (J) on ht ~ Date, .... pfc8 If ~ Purå\ased Sea.riœs 11'1 ftnsfltTld <br />br Seiter tø Buyer; and (ii) thereafter. Iuct\ price ftn&sed by the amount of I/rf cash hnIf.rrtd by <br />Buyer to Seifer purluant to Paragrçh 4(b) hereof and decreased by the amount or any cash -lNferr8d <br />~ Sene, to Buyer pursuanc to Paragraph .t(a) hereof or apprl8d to nÞduce SIner-. obfigaticna ~r <br />ciaus, (Ii) of Paragrçh 5 hef'lOf; <br />en) "P\.ardwed Securftjll~ the s.curtties tansrerT8d by St1f" to Buyer In a 'hnsactIcn hIr~ <br />and any SecurIties IUbsUtufed ther.ror In accordanoe wtth Paragrçh . hereof. The term "PurchuecS <br />&ta.mties"' wfth resped = any 'Tiansactien at any time also shall include Adcflfionaf Purct!.ased Sec:ur1tits <br />CSefiwred pYr$uant to Paragraph tiCI] and IhaJt exclude s.curfU" r.tume~ pursuant to Paragraph 4(b); <br />(0) "Repurchase Care-, .... dati on which Seller II tD rtpurch&sl the Purchased Securities from <br />Buyer. fnduding any date determined by apprication of the proyIsiona of Paragraphs 3(c) Of' 11 hereof; <br />(P) .Repurchase PrieI"', the ptb at Jltûch PurcNstd Securtties are tD be -ansferrtd frcm 8U)'W <br />to ~ner upon termlnatlon of a Transaction. wNc:t\ wm be determlned In lach cas. Ondudin; transacticna <br />termlnablt upon cStmand) U '" 8Um of ~ Pun:h&se Price and &he Price Ditrtr.nUaf as of t)t dati of <br />ad\ cSeterminaticn. h:rused by II1y anø.n dr.etmined by h çpl'lCafÏOn of b pn:Mskna cI Par1.grçh <br />" he f8Of; <br />(q) -Self,r'a Margin Amounr, wfth rtS~ Iø I1If 'IansacUon IS 0( ItftJ daft. h amcunf obta1n8d <br />by çpricaticn of a percentage (wNch may be equal to .... percentage ht II Igreed 10 as tht &uy.r'i <br />Margin Amoum under lubparagraph (c) of INs Paragraph). agreed to by BU)'lr and Sta,r ptfcr sø tnterfnQ <br />ho Ihe Transaction. to h Repurdw. Price for IUCh "lansldion IS of Iuc:h dIt8.. <br /> <br />J. InItIation; ConnrmaUon; TtrmlMtlon <br />(a) An Igr..ment to Inter Into . 1tlnsaction may be made craDy or k\ writing It Iht tnJtiation of <br />efther BUYlr or Sene,. On the F\.!rcN.SI DatI for the1lansadion. the P\:rchased Steurities shan be <br />t"ansferred to Buyer or lis agent agaInst IN transflr of the Purchase Pra to an Icccunt of Sttler. <br />(b) Upon .grHing to .nter Into. '1ansad1on hereunder, Buy.r or Sta.r (or both), IS shalt be agreed. <br />wit promptly dew., to &he other pat't1 a writt.n ClCftC'armation or tach '1ansaction (a "'Confirmation;' <br />The Confirmation IhaD describe Itwt Purc:h&Hd Securities (tnduding CUS1P number. II/rf), Identff'( <br />Buyer and Sener and Ht fOfU\ (I) the Pvrc:ha.H Oat" 00 1h, Purc::hase PrieI, (Iii) the RepYrcha.se Data. <br />U"Jess I'Ie bnsadScn II to be ferrrlnable en demand. (Iv) b Pricing Raft or Repurtñ&se Priœ ~ <br />to the Trans&~ion. and (v) anr additional IIrms or ccnditiona of She 'Tiansactkx\ not inconsIstent with this <br />AgrHtn8nL The Conrinnation. together wtth Ihls AgrHmene. ahaJJ constitute c:oncfuslvt tVldera of the <br />terms agreed between Buyer and Seiter with r8spect to 1h8 Transaction Ie which the Confirmation I'll ate.. <br />unless with respeå to the Confirmation a;>edf'1C objection Is made prompt,ly after receipt thereof. In the <br />.....nt of any conruct betwHn the terms of auch Conrannation and this ~r..ment. INs AgrMmtnt shall <br />pr 8V8JL <br />(c) In the case or Transactions terminable upon demand, such demand wtlbe made by Buyer or <br />Sener, no later than lud\ time as Is Qlstomary In acc:ordance with maate' pr.actice, by t.tephone or <br />Otherwise on or prior 10 the business day Oft whIch such termination wl1t be effeètive. On Che date specified <br />In such demand, or on the date fixed for termination In the case of 'Tiansactions having. bed term. <br />Cennination of the "ansaction wilt be Iffeded by transf,r tD Siner or Its IgentQf IN Purchased Securities <br />and any Incom, In res~ thereof received by Buyer (and not previously credited Of trlNferred to, or <br />applied 10 the obfigaUons of, Seiter puf$uant to paragraph 5 hereof) against the Iransfer of 1he Repun:hast <br />Price to an ac:c:ount of Buyer. <br /> <br />.t. MargIn. MaIntenance . <br />(I) If It any lime the aggregate Marte' "'ue of all Purchased Sea.ntlies lubjed to aft transactiOnS <br />In v.tIich I particufa, partt hereto Is acting as Buyer II less than Ø\t aggregate Buyer's Margin Amount <br />lot an Iud\ Transactions (I "Margin DefICit'. then Buyer may by notice 10 Seiter require Sene' In Iuch <br />1iansactions, It SeD.,.. OPtion. 10 transfe, to ~er cash or additional Securities rel$onatlfy acceptable <br /> <br />20 <br />
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