Common use of Exchanges between Global Note and Non-Global Note Clause in Contracts

Exchanges between Global Note and Non-Global Note. Subject to Section 201(e), a beneficial interest in a Global Note may be exchanged for a Note that is not a Global Note as provided in this Section 305, provided that, if such interest is a beneficial interest in a Restricted Global Note or a Regulation S Global Note, then such interest shall be exchanged for a Restricted Note or a Regulation S Note, as the case may be (subject in each case to Section 305(c)).

Exchanges between Global Note and Non-Global Note. Subject to Section 201(e201(d), a beneficial interest in a Global Note may be exchanged for a Note that is not a Global Note as provided in this Section 305, provided that, if such interest is a beneficial interest in a Restricted Global Note or a Regulation S Global Note, then such interest shall be exchanged for a Restricted Note or a Regulation S Note, as the case may be (subject in each case to Section 305(c)).