Common use of Distribution or Sale of the Underlying Securities Clause in Contracts

Distribution or Sale of the Underlying Securities. If (a) there occurs a payment default on the Underlying Securities, (b) there occurs an acceleration of the date of maturity of the Underlying Securities, or (c) the Underlying Securities Issuer of any Concentrated Underlying Securities ceases to be a reporting company under the Exchange Act, then the Trustee, upon receiving notice of the events set forth in (a), (b) or (c) shall exercise one of the following remedies, in accordance with the Distribution Election: (i) immediately direct the Market Agent to sell the Underlying Securities and a pro rata portion of the Related Assets held by such Trust, in accordance with the Sale Procedures, and the Liquidation Proceeds, if any, shall be deposited into the Certificate Account for distribution in accordance with the Allocation Ratio on the first Business Day following such deposit into the Certificate Account; (ii) distribute the Underlying Securities and a pro rata portion of the Related Assets in accordance with the Allocation Ratio to each Holder's last address as it appears in the Certificate Register within three Business Days of receiving the notice referred to in the first sentence of this Section 3.04; or (iii) provide that the Holders of a given Series or Class may vote in favor of either (i) or (ii), in accordance with the procedures set forth in the applicable Supplement. In the case of a sale by the Market Agent of Underlying Securities and Related Assets pursuant to clause (i) of this Section 3.04, the Trustee shall deliver such Underlying Securities and Related Assets to the purchaser of such Underlying Securities and Related Assets only against payment in same day funds and the Trustee shall deposit the same into the Certificate Account.

Distribution or Sale of the Underlying Securities. If (ai) there occurs a payment default on the Underlying Securities, (bii) there occurs an acceleration of the date of maturity of the Underlying Securities, or (ciii) the Underlying Securities Issuer of any Concentrated Underlying Securities ceases to be a reporting company under the Exchange Act, then the Trustee, upon receiving notice of the events set forth in (ai), (bii) or (ciii) shall exercise one of the following remedies, in accordance with the Distribution Election: : (iA) immediately direct the Market Agent to sell the Underlying Securities and a pro rata portion of the Related Assets held by such Trust, in accordance with the Sale Sales Procedures, and the Liquidation Proceeds, if any, shall be deposited into the Certificate Account for distribution in accordance with the Allocation Ratio on the first Business Day following such deposit into the Certificate Account; Ratio; (iiB) distribute the Underlying Securities and a pro rata portion of the Related Assets in accordance with the Allocation Ratio to each Holder's last address as it appears in the Certificate Register within three Business Days of receiving the notice referred to in the first sentence of this Section 3.04Register; or or (iiiC) provide that the Holders of a given Series or Class may vote in favor of either (iA) or (iiB), in accordance with which shall be decided by a majority of votes cast by the procedures set forth in the applicable Supplementaffected Holders. In the case of a sale by the Market Agent of Underlying Securities and Related Assets pursuant to clause Subsection (iA) of this Section 3.04, the Trustee shall only deliver such Underlying Securities and Related Assets to the purchaser of such Underlying Securities and Related Assets only against payment in same day funds and the Trustee shall deposit the same into the Certificate Account.