Cancellation and Destruction of Warrants. All Warrants surrendered to the Warrant Agent for the purpose of exercise (in whole or in part) pursuant to Section 1.1 and actually exercised, or for the purpose of transfer or exchange pursuant to Article III, shall be cancelled by the Warrant Agent, and no Warrant (other than that reflecting any such transfer or exchange) shall be issued in lieu thereof. The Warrant Agent shall destroy all cancelled Warrants.
Appears in 24 contracts
Samples: Trust Agreement (MS Structured SATURNS Series 2006-1), Trust Agreement (MS Structured SATURNS Series 2006-2), Trust Agreement (MS Structured Saturns Series 2005-3)