Common use of Changes Affecting Underlying Securities Clause in Contracts

Changes Affecting Underlying Securities. Section 4.8(a) is --------------------------------------- hereby deleted in its entirety and replaced with the following: In circumstances where the provisions of Section 2.11, 4.2 and 4.3 do not apply, upon any change in nominal value, change in par value, split-up, consolidation or any other reclassification of any Underlying Securities, or upon any recapitalization, reorganization, merger or consolidation or sale of assets affecting the issuer of any Underlying Security, regardless of whether the Securities Issuer survives, the Trustee shall, to the extent lawful and feasible, retain any Securities or Additional Securities under the Depository Trust Agreement, and, in such case, (i) the amount of such Securities or Additional Securities so retained in respect of each Receipt shall be added to the classes and quantities of securities which must be deposited for issuance of one Receipt and (ii) the number of Receipts in an Issuance Denomination may be increased or decreased by the Trustee to the lowest multiple of 100 Receipts such that no fractional shares are thereby represented in such Issuance Denomination.

Appears in 9 contracts

Samples: Trust Agreement (Merrill Lynch Pierce Fenner & Smith Inc), Internet Holdrs Trust, B2b Internet Holdrssm Trust

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Changes Affecting Underlying Securities. Section 4.8(a(a) is In --------------------------------------- hereby deleted in its entirety and replaced with the following: In circumstances where the provisions of Section 2.11, 4.2 Sections 2.11 and 4.3 do not apply, upon any change in nominal value, change in par value, split-up, consolidation or any other reclassification of any Underlying Securities, or upon any recapitalization, reorganization, merger or consolidation or sale of assets affecting the issuer of any Underlying Security, regardless of whether if the relevant Securities Issuer survivessurvives such event, the Trustee shall, to the extent lawful and feasible, retain any Securities or Additional such Securities under the Depository Depositary Trust Agreement, and, in such case, the (iA) the amount of such Securities or Additional Securities so retained in respect of each Receipt shall be added to the classes and quantities of securities which must be deposited for issuance of one Receipt Receipts and (iiB) the number of Receipts in an Issuance Denomination may be increased or decreased by the Trustee to the lowest multiple of 100 Receipts such that no fractional shares are thereby represented in such Issuance Denomination.

Appears in 4 contracts

Samples: Trust Agreement (Merrill Lynch Pierce Fenner & Smith Inc), Trust Agreement (Merrill Lynch Pierce Fenner & Smith Inc), Trust Agreement (Merrill Lynch Pierce Fenner & Smith Inc)

Changes Affecting Underlying Securities. Section 4.8(a) --------------------------------------- is --------------------------------------- hereby deleted in its entirety and replaced with the following: In circumstances where the provisions of Section 2.11, 4.2 and 4.3 do not apply, upon any change in nominal value, change in par value, split-up, consolidation or any other reclassification of any Underlying Securities, or upon any recapitalization, reorganization, merger or consolidation or sale of assets affecting the issuer of any Underlying Security, regardless of whether the Securities Issuer survives, the Trustee shall, to the extent lawful and feasible, retain any Securities or Additional Securities under the Depository Trust Agreement, and, in such case, (i) the amount of such Securities or Additional Securities so retained in respect of each Receipt shall be added to the classes and quantities of securities which must be deposited for issuance of one Receipt and (ii) the number of Receipts in an Issuance Denomination may be increased or decreased by the Trustee to the lowest multiple of 100 Receipts such that no fractional shares are thereby represented in such Issuance Denomination.

Appears in 4 contracts

Samples: Merrill Lynch Pierce Fenner & Smith Inc, Pharmaceutical Holdrs Trust, Telecom Holdrs Trust

Changes Affecting Underlying Securities. Section 4.8(a4.8 --------------------------------------- (a) is --------------------------------------- hereby deleted in its entirety and replaced with the following: In circumstances where the provisions of Section 2.11, 4.2 and 4.3 do not apply, upon any change in nominal value, change in par value, split-up, consolidation or any other reclassification of any Underlying Securities, or upon any recapitalization, reorganization, merger or consolidation or sale of assets affecting the issuer of any Underlying Security, regardless of whether the Securities Issuer survives, the Trustee shall, to the extent lawful and feasible, retain any Securities or Additional Securities under the Depository Trust Agreement, and, in such case, (i) the amount of such Securities or Additional Securities so retained in respect of each Receipt shall be added to the classes and quantities of securities which must be deposited for issuance of one Receipt and (ii) the number of Receipts in an Issuance Denomination may be increased or decreased by the Trustee to the lowest multiple of 100 Receipts such that no fractional shares are thereby represented in such Issuance Denomination.

Appears in 1 contract

Samples: Regional Bank Holders Sm Trust

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Changes Affecting Underlying Securities. Section 4.8(a) is --------------------------------------- hereby deleted in its entirety and replaced with the following: In circumstances where the provisions of Section 2.11, 4.2 and 4.3 do not apply, upon any change in nominal value, change in par value, split-up, consolidation or any other reclassification of any Underlying Securities, or upon any recapitalization, reorganization, merger or consolidation or sale of assets affecting the issuer of any Underlying Security, regardless of whether the Securities Issuer survives, the Trustee shall, to the extent lawful and feasible, retain any Securities or Additional Securities under the Depository Trust Agreement, and, in such case, (i) the amount of such Securities or Additional Securities so retained in respect of each Receipt shall be added to the classes and quantities of securities which must be deposited for issuance of one Receipt and (ii) the number of Receipts in an Issuance Denomination may be increased or decreased by the Trustee to the lowest multiple of 100 Receipts such that no fractional shares are thereby represented in such Issuance Denomination.

Appears in 1 contract

Samples: Merrill Lynch Pierce Fenner & Smith Inc

Changes Affecting Underlying Securities. Section --------------------------------------- 4.8(a) is --------------------------------------- hereby deleted in its entirety and replaced with the following: In circumstances where the provisions of Section 2.11, 4.2 and 4.3 do not apply, upon any change in nominal value, change in par value, split-up, consolidation or any other reclassification of any Underlying Securities, or upon any recapitalization, reorganization, merger or consolidation or sale of assets affecting the issuer of any Underlying Security, regardless of whether the Securities Issuer survives, the Trustee shall, to the extent lawful and feasible, retain any Securities or Additional Securities under the Depository Trust Agreement, and, in such case, (i) the amount of such Securities or Additional Securities so retained in respect of each Receipt shall be added to the classes and quantities of securities which must be deposited for issuance of one Receipt and (ii) the number of Receipts in an Issuance Denomination may be increased or decreased by the Trustee to the lowest multiple of 100 Receipts such that no fractional shares are thereby represented in such Issuance Denomination.

Appears in 1 contract

Samples: Software Holdrs Trust

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