Common use of Creation of Stripped Common Equity Units Clause in Contracts

Creation of Stripped Common Equity Units. (a) A Holder of Normal Common Equity Units shall have the right, at any time on or prior to 5:00 p.m. (New York City time) on the seventh Business Day immediately preceding any Applicable Remarketing Settlement Date, to create Stripped Common Equity Units by substitution of Treasury Securities or security entitlements with respect thereto for the Pledged Series A Trust Preferred Securities (if any) and Pledged Series B Trust Preferred Securities then comprising a part of all or a portion of such Holder's Normal Common Equity Units, in integral multiples of 80 Normal Common Equity Units, by: (A) Transferring to the Stock Purchase Contract Agent, for further Transfer to the Securities Intermediary for credit to the Collateral Account, Series A Treasury Securities or security entitlements with respect thereto having a Value equal to the aggregate liquidation amount of the Pledged Series A Trust Preferred Securities (if any) to be released and Series B Treasury Securities or security entitlements with respect thereto having a Value equal to the aggregate liquidation amount of the Pledged Series B Trust Preferred Securities to be released, accompanied by a notice, substantially in the form of Exhibit C to the Stock Purchase Contract Agreement, whereupon the Stock Purchase Contract Agent shall deliver to the Collateral Agent a notice, substantially in the form of Exhibit A hereto, (A) stating that such Holder has notified the Stock Purchase Contract Agent that such Holder has Transferred Treasury Securities or security entitlements with respect thereto to the Stock Purchase Contract Agent for further Transfer to the Securities Intermediary for credit to the applicable Collateral Account, (B) stating the Value of the Treasury Securities or security entitlements with respect thereto Transferred by such Holder and (C) requesting that the Collateral Agent instruct the Securities Intermediary to accept such Transfer of Treasury Securities and to release from the Pledge to the Stock Purchase Contract Agent as attorney-in-fact of the such Holder an equal Value of Pledged Series A Trust Preferred Securities (if any) and an equal Value of Pledged Series B Trust Preferred Securities that are then a component of such Normal Common Equity Units; and (B) delivering the related Normal Common Equity Units to the Stock Purchase Contract Agent. Upon receipt of such notice, giving of instructions to the Securities Intermediary that such Transfer be accepted and confirmation that Treasury Securities or security entitlements with respect thereto have been credited to the Series A Collateral Account (if applicable) and Series B Collateral Account as described in such notice, the Collateral Agent shall instruct the Securities Intermediary by a notice, substantially in the form of Exhibit B hereto, to release such Pledged Series A Trust Preferred Securities (if any) and Pledged Series B Trust Preferred Securities from the Pledge by Transfer to the Stock Purchase Contract Agent for distribution to such Holder, free and clear of the Pledge created hereby. (b) Upon credit to the Series A Collateral Account (if applicable) of Series A Treasury Securities and to the Series B Collateral Account of Series B Treasury Securities or security entitlements with respect thereto delivered by a Holder of Normal Common Equity Units and receipt of the related instruction from the Collateral Agent, the Securities Intermediary shall release the Pledged Series A Trust Preferred Securities (if any) and Pledged Series B Trust Preferred Securities from the Pledge and shall promptly Transfer the same to the Stock Purchase Contract Agent for distribution to such Holder, free and clear of the Pledge created hereby.

Creation of Stripped Common Equity Units. (a) A Each Holder of Normal Common Equity Units shall have the right, right at any time on or prior to (but not during the period that begins at 5:00 p.m. (New York City time) on the seventh tenth (10th) Business Day immediately preceding any Applicable Remarketing Settlement Stock Purchase Date and ends at 5:00 p.m. (New York City time) on such Stock Purchase Date, ) to create Stripped Common Equity Units by substitution of exchanging Treasury Securities or security entitlements with respect thereto for the Pledged Series A Trust Preferred C Debt Securities (if any), Pledged Series D Debt Securities (if any) and Pledged Series B Trust Preferred E Debt Securities then comprising a part of all or a portion of such Holder's ’s Normal Common Equity Units, in integral multiples of 80 Normal Common Equity Units, Units by: (Ai) Transferring to the Stock Purchase Contract Agent, for further Transfer to the Securities Intermediary for credit to the applicable Collateral Account, Series A C Treasury Securities or security entitlements with respect thereto having a Value equal to the aggregate liquidation principal amount of the Pledged Series A Trust Preferred C Debt Securities (if any) to be released and released, Series B D Treasury Securities or security entitlements with respect thereto having a Value equal to the aggregate liquidation principal amount of the Pledged Series B Trust Preferred D Debt Securities (if any) to be released and Series E Treasury Securities or security entitlements with respect thereto having a Value equal to the aggregate principal amount of the Pledged Series E Debt Securities to be released, accompanied by a notice, substantially in the form of Exhibit C B to the Stock Purchase Contract Agreement, whereupon the Stock Purchase Contract Agent shall deliver to the Collateral Agent a notice, substantially in the form of Exhibit A heretoA, (A) stating that such Holder has notified the Stock Purchase Contract Agent that such Holder has Transferred Treasury Securities or security entitlements with respect thereto to the Stock Purchase Contract Agent for further Transfer to the Securities Intermediary for credit to the applicable Collateral Account, (B) stating the Value of the Treasury Securities or security entitlements with respect thereto Transferred by such Holder and (C) requesting that the Collateral Agent instruct the Securities Intermediary to accept such Transfer of Treasury Securities and to release from the Pledge to the Stock Purchase Contract Agent as attorney-in-fact of the such Holder an equal Value of Pledged Series A Trust Preferred C Debt Securities (if any) an equal Value of Pledged Series D Debt Securities (if any) and an equal Value of Pledged Series B Trust Preferred E Debt Securities that are then a component of such Normal Common Equity Units; and (Bii) delivering the related Normal Common Equity Units to the Stock Purchase Contract Agent. Notwithstanding anything herein to the contrary, no such exchange shall be made (A) at any time when there does not exist an unmatured Treasury Security that would be required, pursuant to clause (i) above, to be delivered to effect such exchange or (B) from the time any Remarketing has priced to, and including, the Stock Purchase Date relating to such Remarketing. Upon receipt of such notice, giving of instructions to the Securities Intermediary that such Transfer be accepted and confirmation that Treasury Securities or security entitlements with respect thereto have been credited to the Series A C Collateral Account (if applicable), Series D Collateral Account (if applicable) and the Series B E Collateral Account as described in such notice, the Collateral Agent shall instruct the Securities Intermediary by a notice, substantially in the form of Exhibit B heretoB, to release such Pledged Series A Trust Preferred C Debt Securities (if any), Pledged Series D Debt Securities (if any) and Pledged Series B Trust Preferred Securities E Debt Securities, from the Pledge by Transfer to the Stock Purchase Contract Agent for distribution to such Holder, free and clear of the Pledge created hereby. (b) Upon credit to (i) the Series A C Collateral Account (if applicable) of Series A Treasury Securities and to the Series B Collateral Account of Series B C Treasury Securities or security entitlements thereto, (ii) the Series D Collateral Account (if applicable) of Series D Treasury Securities or security entitlements thereto, and (iii) the Series E Collateral Account of Series E Treasury Securities or security entitlements thereto, with respect thereto to Normal Common Equity Units delivered by a Holder of Normal Common Equity Units and receipt of the related instruction from the Collateral Agent, the Securities Intermediary shall release the Pledged Series A Trust Preferred C Debt Securities (if any), Pledged Series D Debt Securities (if any) and Pledged Series B Trust Preferred E Debt Securities from the Pledge and shall promptly Transfer the same to the Stock Purchase Contract Agent for distribution to such Holder, free and clear of the Pledge created hereby.