Common use of Evaluation Clause in Contracts

Evaluation. The Trustee shall make an evaluation of each Trust as of that time set forth in the Prospectus (the "Evaluation Time"), (i) on the last business day of each of the months of June and December, (ii) on the day on which any Unit of a respective Trust is tendered for redemption, and (iii) on any other day desired by the Trustee or requested by the Depositor. Such evaluations shall take into account and itemize separately, (1) the cash on hand in the respective Trust (other than cash declared held in trust to cover contracts to purchase bonds) or moneys in the process of being collected from matured interest coupons or bonds matured or called for redemption prior to maturity, (2) the value of each issue of the Bonds in the Trust, and (3) interest accrued thereon not subject to collection and distribution. In making the evaluations the Trustee may determine the value of each issue of the Bonds in the Trust by the following methods or any combination thereof which it deems appropriate: (i) on the basis of current bid prices of such Bonds as obtained from investment dealers or brokers (including the Depositor) who customarily deal in bonds comparable to those held by the Trust, or (ii) if bid prices are not available for any of such Bonds, on the basis of bid prices for comparable bonds, or (iii) by causing the value of the Bonds in the Trust to be determined by others engaged in the practice of evaluating, quoting or appraising bonds. For each such evaluation there shall be deducted from the sum of the above (i) amounts representing any applicable taxes or governmental charges payable out of the Trust and for which no deductions shall have previously been made for the purpose of addition to the Reserve Account of such Trust, (ii) amounts representing accrued expenses of the Trust including but not limited to unpaid fees and expenses of the Trustee, the Depositor and counsel, in each case as reported by the Trustee to the Depositor on or prior to the date of evaluation, (iii) amounts representing unpaid organization costs, and (iv) cash held for distribution to Unitholders of such Trust of record, and required for redemption of Units tendered, as of a date prior to the evaluation then being made. The value of the pro rata share of each Unit of such Trust determined on the basis of any such evaluation shall be referred to herein as the "Unit Value." Prior to the payment to the Depositor of its reimbursable organization costs to be made at the earlier of six months after the Initial Date of Deposit or the conclusion of the primary offering period in accordance with Section 3.01 for purposes of determining the Trust Evaluation and Unit Value under this Section 4.01, the Trustee shall rely upon the amounts representing unpaid organization costs in the estimated amount per Unit set forth in the Prospectus until such time as the Depositor notifies the Trustee in writing of a revised estimated amount per Unit representing unpaid organization costs. Upon receipt of such notice, the Trustee shall use this revised estimated amount per Unit representing unpaid organization costs in determining the Trust Evaluation and Unit Value but such revision of the estimated expenses shall not effect calculations made prior thereto and no adjustment shall be made in respect thereof.

Evaluation. The Trustee shall make an evaluation of each Trust as of that time set forth in the Prospectus (the "Evaluation TimeEVALUATION TIME"), (i) on the last business day of each of the months of June and December, (ii) on the day on which any Unit of a respective Trust is tendered for redemption, and (iii) on any other day desired by the Trustee or requested by the Depositor. Such evaluations shall take into account and itemize separately, (1) the cash on hand in the respective Trust (other than cash declared held in trust to cover contracts to purchase bondssecurities) or moneys in the process of being collected from matured interest coupons or bonds securities matured or called for redemption prior to maturity, (2) the value of each issue of the Bonds Securities in the Trust, and (3) interest accrued thereon not subject to collection and distributiondistribution and (4) amounts representing organizational expenses paid less accrued organizational expenses of a Trust. In making the evaluations the Trustee may determine the value of each issue of the Bonds Securities in the Trust by the following methods or any combination thereof which it deems appropriate: (i) on the basis of current bid prices of such Bonds Securities as obtained from investment dealers or brokers (including the Depositor) who customarily deal in bonds comparable to those held by the Trust, or (ii) if bid prices are not available for any of such BondsSecurities, on the basis of bid prices for comparable bondssecurities, or (iii) by causing the value of the Bonds Securities in the Trust to be determined by others engaged in the practice of evaluating, quoting or appraising bondssecurities. For each such evaluation there shall be deducted from the sum of the above (i) amounts representing any applicable taxes or governmental charges payable out of the Trust and for which no deductions shall have previously been made for the purpose of addition to the Reserve Account of such Trust, (ii) amounts representing accrued expenses of the Trust including but not limited to unpaid fees and expenses of the Trustee, the Depositor and counsel, in each case as reported by the Trustee to the Depositor on or prior to the date of evaluation, and (iii) amounts representing unpaid organization costs, and (iv) cash held for distribution to Unitholders of such Trust of record, and required for redemption of Units tendered, as of a date prior to the evaluation then being made. The value of the pro rata share of each Unit of such Trust determined on the basis of any such evaluation shall be referred to herein as the "Unit Value." Prior to the payment to Until the Depositor has informed the Trustee that there will be no further deposits of its reimbursable organization costs Additional Securities pursuant to Section 2.01(b), the Depositor shall provide the Trustee with written estimates of (i) the total organizational expenses to be made at borne by the earlier Trust pursuant to Section 3.01, (ii) the total number of six months after Units to be issued in connection with the Initial Date initial deposit and all anticipated deposits of Deposit additional Securities and (iii) the period or periods over which such expenses are to be amortized and the conclusion aggregate amount of the primary offering period in accordance with Section 3.01 for expense to be amortized during each such period. For purposes of determining calculating the Trust Evaluation and Unit Value under this Section 4.01Value, the Trustee shall rely treat all such anticipated expenses as having been paid and all liabilities therefor as having been incurred, and all Units as having been issued, in each case on the date of the Trust Agreement, and, in connection with each such calculation, shall take into account a pro rata portion of such expense and liability based on the actual number of Units issued as of the date of such calculation. In the event the Trustee is informed by the Depositor of a revision in its estimate of total expenses or total Units or period of amortization and upon the amounts representing unpaid organization costs in conclusion of the estimated amount per Unit set forth in the Prospectus until such time as the Depositor notifies the Trustee in writing deposit of a revised estimated amount per Unit representing unpaid organization costs. Upon receipt of such noticeadditional Securities, the Trustee shall use this base calculations made thereafter on such revised estimated amount per Unit representing unpaid organization costs in determining the Trust Evaluation and Unit Value estimates or actual expenses or period of amortization, respectively, but such revision of the estimated expenses adjustment shall not effect affect calculations made prior thereto and no adjustment shall be made in respect thereof. The Depositor shall make an evaluation of each Trust as of the Evaluation Time (i) on the last business day of each of the months of June and December, (ii) on the day in which any Unit of such Trust is tendered for redemption, and (iii) on any other day such an evaluation is desired by the Trustee or is deemed necessary by the Depositor. Such evaluation shall be made on the same basis as set forth in the preceding paragraph. The Trustee, in lieu of making the evaluation provided in the preceding paragraph, may use the evaluation made by the Depositor for all purposes of this Indenture, except as provided in the following paragraph, and shall not be liable or responsible, under any circumstances whatever, for its election to use the Depositor's evaluation or for the accuracy or correctness thereof or for any error or omission therein. The Trustee shall also cause an evaluation of the Securities deposited in each Trust to be made as of the Evaluation Time on the day preceding the day on which said Securities are deposited under this Indenture by X.X. Xxxxx Co., Inc., or such other evaluator as shall be specified by the Depositor. Such evaluation shall be made on the same basis as set forth in the second preceding paragraph except that it shall be based upon offering prices of said Securities. The determination of the offering price of the Securities so made shall be included in the Schedule attached to the Trust Agreement. The Trustee shall not be liable or responsible, under any circumstances whatever, for the accuracy or correctness of such evaluation or for the selection of the evaluator making the same.

Evaluation. The Trustee shall make an evaluation of each Trust as of that time set forth in the Prospectus (the "Evaluation Time"), (i) on the last business day of each of the months of June and December, (ii) on the day on which any Unit of a respective Trust is tendered for redemption, and (iii) on any other day desired by the Trustee or requested by the Depositor. Such evaluations shall take into account and itemize separately, (1) the cash on hand in the respective Trust (other than cash declared held in trust to cover contracts to purchase bondssecurities) or moneys in the process of being collected from matured interest coupons or bonds securities matured or called for redemption prior to maturity, (2) the value of each issue of the Bonds Securities in the Trust, and (3) interest accrued thereon not subject to collection and distribution. In making the evaluations the Trustee may determine the value of each issue of the Bonds Securities in the Trust by the following methods or any combination thereof which it deems appropriate: (i) on the basis of current bid prices of such Bonds Securities as obtained from investment dealers or brokers (including the Depositor) who customarily deal in bonds comparable to those held by the Trust, or (ii) if bid prices are not available for any of such BondsSecurities, on the basis of bid prices for comparable bondssecurities, or (iii) by causing the value of the Bonds Securities in the Trust to be determined by others engaged in the practice of evaluating, quoting or appraising bondssecurities. For each such evaluation there shall be deducted from the sum of the above (i) amounts representing any applicable taxes or governmental charges payable out of the Trust and for which no deductions shall have previously been made for the purpose of addition to the Reserve Account of such Trust, (ii) amounts representing accrued expenses of the Trust including but not limited to unpaid fees and expenses of the Trustee, the Depositor and counsel, in each case as reported by the Trustee to the Depositor on or prior to the date of evaluation, (iii) amounts representing unpaid organization costs, and (iv) cash held for distribution to Unitholders of such Trust of record, and required for redemption of Units tendered, as of a date prior to the evaluation then being made. The value of the pro rata share of each Unit of such Trust determined on the basis of any such evaluation shall be referred to herein as the "Unit Value." Prior to the payment to the Depositor of its reimbursable organization costs to be made at the earlier of six months after the Initial Date of Deposit or the conclusion of the primary offering period in accordance with Section 3.01 for purposes of determining the Trust Evaluation and Unit Value under this Section 4.01, the Trustee shall rely upon the amounts representing unpaid organization costs in the estimated amount per Unit set forth in the Prospectus until such time as the Depositor notifies the Trustee in writing of a revised estimated amount per Unit representing unpaid organization costs. Upon receipt of such notice, the Trustee shall use this revised estimated amount per Unit representing unpaid organization costs in determining the Trust Evaluation and Unit Value but such revision of the estimated expenses shall not effect affect calculations made prior thereto and no adjustment shall be made in respect thereof.

Evaluation. The Trustee shall make an evaluation of each Trust as of that time set forth in the Prospectus (the "Evaluation TimeEVALUATION TIME"), (i) on the last business day of each of the months of June and December, (ii) on the day on which any Unit of a respective Trust is tendered for redemption, and (iii) on any other day desired by the Trustee or requested by the Depositor. Such evaluations shall take into account and itemize separately, (1) the cash on hand in the respective Trust (other than cash declared held in trust to cover contracts to purchase bondssecurities) or moneys in the process of being collected from matured interest coupons or bonds securities matured or called for redemption prior to maturity, (2) the value of each issue of the Bonds Securities in the Trust, and (3) interest accrued thereon not subject to collection and distribution. In making the evaluations the Trustee may determine the value of each issue of the Bonds Securities in the Trust by the following methods or any combination thereof which it deems appropriate: (i) on the basis of current bid prices of such Bonds Securities as obtained from investment dealers or brokers (including the Depositor) who customarily deal in bonds comparable to those held by the Trust, or (ii) if bid prices are not available for any of such BondsSecurities, on the basis of bid prices for comparable bondssecurities, or (iii) by causing the value of the Bonds Securities in the Trust to be determined by others engaged in the practice of evaluating, quoting or appraising bondssecurities. For each such evaluation there shall be deducted from the sum of the above (i) amounts representing any applicable taxes or governmental charges payable out of the Trust and for which no deductions shall have previously been made for the purpose of addition to the Reserve Account of such Trust, (ii) amounts representing accrued expenses of the Trust including but not limited to unpaid fees and expenses of the Trustee, the Depositor and counsel, in each case as reported by the Trustee to the Depositor on or prior to the date of evaluation, (iii) amounts representing unpaid organization costs, and (iv) cash held for distribution to Unitholders of such Trust of record, and required for redemption of Units tendered, as of a date prior to the evaluation then being made. The value of the pro rata share of each Unit of such Trust determined on the basis of any such evaluation shall be referred to herein as the "Unit Value." Prior to the payment to the Depositor of its reimbursable organization costs to be made at the earlier of six months after the Initial Date of Deposit or the conclusion of the primary offering period in accordance with Section 3.01 for purposes of determining the Trust Evaluation and Unit Value under this Section 4.01, the Trustee shall rely upon the amounts representing unpaid organization costs in the estimated amount per Unit set forth in the Prospectus until such time as the Depositor notifies the Trustee in writing of a revised estimated amount per Unit representing unpaid organization costs. Upon receipt of such notice, the Trustee shall use this revised estimated amount per Unit representing unpaid organization costs in determining the Trust Evaluation and Unit Value but such revision of the estimated expenses shall not effect calculations made prior thereto and no adjustment shall be made in respect thereof.