9/24/2023 0 Comments Cash sweep![]() dollars, or (ii) by means of any other legal procedure existing in Argentina on any such Transfer Date. Dollars, and transferring and selling such instruments outside Argentina for U.S. In the event that on any Transfer Date any restriction or prohibition of access to the Argentine foreign exchange market exists, the Company agrees to pay all amounts required to be paid under this section either (i) by purchasing, with Pesos, any series of "Bonos Externos dx xx Xxxxxxxxx Xxxxxxxxx" xx xxx xxxxx xxxxxities or public or private bonds issued in Argentina and denominated in U.S. Dollars at the prevailing exchange rate on the date of the mandatory prepayment). Amounts required to be prepaid in accordance herewith will be determined by reference to the Peso amounts using the Company's consolidated balance sheets for the relevant dates and converting such amounts into U.S. This compensation is retained by LPL and is not shared with your Representative.Ĭash Sweep. (a) So long as any of the 7- Year Notes shall remain Outstanding, if the amount of Excess Cash for any Transfer Date (after complying with the obligation set forth in Section 4.2) exceeds U.S.$3,000,000 (or the equivalent thereof in other currencies) the Company will apply 70% of any such surplus Excess Cash ( the determination of such amount to be certified by the Company's independent auditors) plus, without duplication, 100% of the Unapplied Net Asset Sale Proceeds on such Transfer Date to the ratable pre- payment of any outstanding 7-Year Notes. For additional information on the ICA, please see the ICA disclosure booklet available from your Representative. LPL receives compensation from each bank in which the Plan has an ICA, as shown in the Plan’s monthly account statement. The compensation LPL receives on ICA may be higher than the compensation available to LPL from an alternative sweep investment option. The fee paid to LPL may be at an annual rate of up to an average of 4% as applied across all deposit accounts taken in the aggregate therefore, on some accounts, fees to LPL may be higher or lower than this average percentage amount. Under its agreement with each bank in which LPL deposits customer cash, LPL receives a fee from the banks equal to a percentage of the average daily deposit balance in the ICA. LPL offers a service to sweep cash held within customer brokerage accounts into an interest- bearing FDIC insured cash account (“ ICA”).
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