Common use of Creation of Treasury PIES by Substitution of Treasury Securities Clause in Contracts

Creation of Treasury PIES by Substitution of Treasury Securities. A Holder may separate the Senior Notes from the related Purchase Contracts in respect of such Holder's Corporate PIES by substituting Treasury Securities or security entitlements thereto for such Senior Notes, pursuant to the Pledge Agreement, in an aggregate principal amount equal to the aggregate principal amount of such Senior Notes, at any time from and after the date of this Agreement until 5:00 p.m. (New York City time) on any such date except during an Active Remarketing Period by:

Creation of Treasury PIES by Substitution of Treasury Securities. A Holder may separate the Senior Notes from the related Purchase Contracts in respect of such Holder's Corporate PIES by substituting Treasury Securities or security entitlements thereto for such Senior Notes, pursuant to the Pledge Agreement, Notes Treasury Securities in an aggregate principal amount equal to the aggregate principal amount of such Senior NotesNotes (a "Collateral Substitution"), at any time from and after the date of this Agreement until 5:00 p.m. (New York City time) and on any such date except during an Active Remarketing Period or prior to the seventh Business Day immediately preceding the Purchase Contract Settlement Date by:

Creation of Treasury PIES by Substitution of Treasury Securities. A Holder may separate the Senior Notes from the related Purchase Contracts in respect of such Holder's Corporate PIES by substituting for such Senior Notes Treasury Securities or security entitlements thereto for such Senior Notesthereto, pursuant to the Pledge Agreement, in an aggregate principal amount equal to the aggregate principal amount of such Senior Notes, at any time from and after the date of this Agreement until 5:00 p.m. (New York City time) on any such date except during an Active Remarketing Period the Election Date by: