Common use of Exercise of Warrants Priority Clause in Contracts

Exercise of Warrants Priority. On any Distribution Date occurring in connection with an exercise of the Warrants, or to the extent such Distribution Date occurs due to the exercise of Warrants, whether in whole or in part, whether or not such exercise results in a Trust Wind-Up Event, the Trustee shall apply amounts available in connection with such exercise (corresponding to the amounts allocable to the aggregate Corresponding Underlying Security Amount related to such exercise): FIRST, to the payment of any accrued and unpaid interest on the Class A Units and any accrued and unpaid Class B Payments being called pro rata in proportion to the outstanding amount of accrued and unpaid interest and unpaid payments on each, SECOND, to the payment of the outstanding principal on the Class A Units being called, THIRD, to the payment of $1.50 on each Class A Unit called as an Additional Distribution, if the related Call Date occurs prior to the First Regular Call Date and occurs in connection with a tender offer for the Underlying Securities, FOURTH, to the payment of the Class B Present Value Amount with respect to each Class B Unit called, adjusted for any accrued Class B Payments paid under Clause FIRST, as an Additional Distribution on the Class B Units called, FIFTH, to the payment of any accrued and unpaid Expense Administrator's Fee, including the Expense Administrator Make-Whole Amount, if any, and SIXTH, to the exercising Warrantholders, to the extent such Warrantholders specified or were deemed to specify that their exercise was in connection with a redemption of or a tender offer for the Underlying Securities. If any exercise of Warrants would result in the Trust not having sufficient funds to pay each of items FIRST through FIFTH in full, notwithstanding any other provision in this Trust Agreement (including the Additional Warrants Terms on Schedule III) or the Warrants, such exercise will be rescinded pursuant to Section 1.1(h) or Section 1.1(i) of Schedule III.

Exercise of Warrants Priority. On any Distribution Date occurring in connection with an exercise of the Warrants, or to the extent such Distribution Date occurs due to the exercise of Warrants, whether in whole or in part, whether or not such exercise results in a Trust Wind-Up Event, the Trustee shall apply amounts available in connection with such exercise (corresponding to the amounts allocable to the aggregate Corresponding Underlying Security Amount related to such exercise): FIRST, to the payment of any accrued and unpaid interest on the Class A Units and any accrued and unpaid the Class B Payments Units being called pro rata in proportion to the outstanding amount of accrued and unpaid interest and unpaid payments on each, SECOND, to the payment of the outstanding principal on the Class A Units being called, THIRD, to the payment of $1.50 on each Class A Unit called as an Additional Distribution, if the related Call Date occurs prior to the First Regular Call Date and occurs in connection with a tender offer for the Underlying Securities, FOURTH, to the payment of the Class B Present Value Amount with respect to each Class B Unit called, adjusted for any accrued Class B Payments interest paid under Clause FIRST, as an Additional Distribution on the Class B Units called, FIFTH, to the payment of any accrued and unpaid Expense Administrator's Fee, including the Expense Administrator Make-Whole Amount, if any, and SIXTH, to the exercising Warrantholders, to the extent such Warrantholders specified or were deemed to specify that their exercise was in connection with a redemption of or a tender offer for the Underlying Securities. If any exercise of Warrants would result in the Trust not having sufficient funds to pay each of items FIRST through FIFTH in full, notwithstanding any other provision in this Trust Agreement (including the Additional Warrants Terms on Schedule III) or the Warrants, such exercise will be rescinded pursuant to Section 1.1(h) or Section 1.1(i) of Schedule III.

Exercise of Warrants Priority. On any Distribution Date occurring in connection with an exercise of the Warrants, or to the extent such Distribution Date occurs due to the exercise of Warrants, whether in whole or in part, whether or not such exercise results in a Trust Wind-Up Event, the Trustee shall apply amounts available in connection with such exercise (corresponding to the amounts allocable to the aggregate Corresponding Underlying Security Amount related to such exercise): FIRST, to the payment of any accrued and unpaid interest on the Class A Units and any accrued and unpaid Class B Payments being called pro rata in proportion to the outstanding amount of accrued and unpaid interest and unpaid payments on each, SECOND, to the payment of the outstanding principal on the Class A Units being called, THIRD, to the payment of $1.50 on each Class A Unit called as an Additional Distribution, if the related Call Date occurs prior to the First Regular Call Date and occurs in connection with a tender offer for the Underlying Securities, FOURTH, to the payment of the Class B Present Value Amount with respect to each Class B Unit called, adjusted for any accrued Class B Payments paid under Clause FIRST, as an Additional Distribution on the Class B Units called, FIFTH, to the payment of any accrued and unpaid Expense Administrator's ’s Fee, including the Expense Administrator Make-Whole Amount, if any, and SIXTH, to the exercising Warrantholders, to the extent such Warrantholders specified or were deemed to specify that their exercise was in connection with a redemption of or a tender offer for the Underlying Securities. If any exercise of Warrants would result in the Trust not having sufficient funds to pay each of items FIRST through FIFTH in full, notwithstanding any other provision in this Trust Agreement (including the Additional Warrants Terms on Schedule III) or the Warrants, such exercise will be rescinded pursuant to Section 1.1(h) or Section 1.1(i) of Schedule III. Redemptions Priority: On any Distribution Date occurring in connection with a redemption of the Underlying Securities, to the extent such Distribution Date occurs due to a redemption of the Underlying Securities and only to the extent such Distribution Date does not relate to an exercise of Warrants, whether or not such redemption results in a Trust Wind-Up Event, the Trustee shall apply amounts available in connection with such redemption (excluding the amounts allocable to the aggregate Corresponding Underlying Security Amount related to any exercise of Warrants provided for above): FIRST, to the payment of any accrued and unpaid interest on the Class A Units and any accrued and unpaid Class B Payments being redeemed pro rata in proportion to the outstanding amount of accrued and unpaid interest and unpaid payments on each, SECOND, to the payment of the outstanding principal on the Class A Units being redeemed, THIRD, any remaining amounts, if any, to the payment of the Class B Present Value Amount with respect to Class B Units redeemed, adjusted for any accrued Class B Payments paid under Clause FIRST, as an Additional Distribution on the Class B Units redeemed, FOURTH, any remaining amounts, if any, to the payment of any accrued and unpaid Expense Administrator’s Fee, and FIFTH, any remaining amounts, if any, to the Warrantholders, as payment of any Warrant Termination Payment. Any amortization or other payment by the Underlying Security Issuer on the Underlying Securities shall be treated as a redemption if not otherwise addressed herein. Other Trust Wind-Up Events Priority: On any Distribution Date occurring in connection with a Trust Wind-Up Event due to an event or events other than an exercise of Warrants or a redemption of Underlying Securities (or to the extent thereof), the Trustee shall apply amounts available (excluding the amounts allocable to the aggregate Corresponding Underlying Security Amount related to any exercise of Warrants provided for above or the amounts distributable in connection with a redemption as provided for above): FIRST, to the payment of the claims of the Class A Units and the Class B Units pro rata in proportion to the relative claim amounts of each, and for this purpose the Class A Units will have a claim equal to their Unit Principal Balance plus accrued and unpaid interest, if any and the Class B Units will have a claim equal to the Class B Present Value Amount, including any accrued and unpaid amounts, determined as of the date of termination, in full satisfaction of the claims of the Class A Units and the Class B Units, SECOND, to the payment of any accrued and unpaid Expense Administrator’s Fee, and THIRD, any remaining amounts are paid to the Warrantholders, as payment of any Warrant Termination Payment.

Exercise of Warrants Priority. On any Distribution Date occurring in connection with an exercise of the Warrants, or to the extent such Distribution Date occurs due to the exercise of Warrants, whether in whole or in part, whether or not such exercise results in a Trust Wind-Up Event, the Trustee shall apply amounts available in connection with such exercise (corresponding to the amounts allocable to the aggregate Corresponding Underlying Security Amount related to such exercise): FIRST, to the payment of any accrued and unpaid interest on the Class A Units and any accrued and unpaid Class B Payments being called pro rata in proportion to the outstanding amount of accrued and unpaid interest and unpaid payments on each, SECOND, to the payment of the outstanding principal on the Class A Units being called, THIRD, to the payment of $1.50 on each Class A Unit called as an Additional Distribution, if the related Call Date occurs prior to the First Regular Call Date and occurs in connection with a tender offer for the Underlying Securities, FOURTH, to the payment of the Class B Present Value Amount with respect to each Class B Unit called, adjusted for any accrued Class B Payments paid under Clause FIRST, as an Additional Distribution on the Class B Units called, FIFTH, to the payment of any accrued and unpaid Expense Administrator's ’s Fee, including the Expense Administrator Make-Whole Amount, if any, and SIXTH, to the exercising Warrantholders, to the extent such Warrantholders specified or were deemed to specify that their exercise was in connection with a redemption of or a tender offer for the Underlying Securities. If any exercise of Warrants would result in the Trust not having sufficient funds to pay each of items FIRST through FIFTH in full, notwithstanding any other provision in this Trust Agreement (including the Additional Warrants Terms on Schedule III) or the Warrants, such exercise will be rescinded pursuant to Section 1.1(h) or Section 1.1(i) of Schedule III. Other Trust Wind-Up Events Priority: On any Distribution Date occurring in connection with a Trust Wind-Up Event due to an event or events other than an exercise of Warrants (or to the extent thereof), the Trustee shall apply amounts available (excluding the amounts allocable to the aggregate Corresponding Underlying Security Amount related to any exercise of Warrants provided for above): FIRST, to the payment of the claims of the Class A Units and the Class B Units pro rata in proportion to the relative claim amounts of each, and for this purpose the Class A Units will have a claim equal to their Unit Principal Balance plus accrued and unpaid interest, if any and the Class B Units will have a claim equal to the Class B Present Value Amount determined as of the date of termination, in full satisfaction of the claims of the Class A Units and the Class B Units, SECOND, to the payment of any accrued and unpaid Expense Administrator’s Fee, and THIRD, any remaining amounts are paid to the Warrantholders, as payment of any Warrant Termination Payment. FOURTH, if there is no Warrant Termination Payment, any remaining amounts, if any, are paid to the Unitholders of the Units being redeemed, pro rata in proportion to the Unit Principal Balance.

Exercise of Warrants Priority. On any Distribution Date occurring in connection with an exercise of the Warrants, or to the extent such Distribution Date occurs due to the exercise of Warrants, whether in whole or in part, whether or not such exercise results in a Trust Wind-Up Event, the Trustee shall apply amounts available in connection with such exercise (corresponding to the amounts allocable to the aggregate Corresponding Underlying Security Amount related to such exercise): FIRST, to the payment of any accrued and unpaid interest on the Class A Units and any accrued and unpaid Class B Payments being called pro rata in proportion to the outstanding amount of accrued and unpaid interest and unpaid payments on eachUnits, SECOND, to the payment of the outstanding principal on the Class A Units being called, THIRD, to the payment of $1.50 on each Class A Unit called as an Additional Distribution, if the related Call Date occurs prior to the First Regular Call Date and occurs in connection with a tender offer for the Underlying Securities, FOURTH, to the payment of the Class B Present Value Amount with respect to each Class B Unit called, adjusted for any accrued Class B Payments paid under Clause FIRST, as an Additional Distribution on the Class B Units called, FIFTH, to the payment of any accrued and unpaid Expense Administrator's ’s Fee, including the Expense Administrator Make-Whole Amount, if any, and SIXTHFIFTH, to the exercising Warrantholders, to the extent such Warrantholders specified or were deemed to specify that their exercise was in connection with a redemption of or a tender offer for the Underlying Securities. If any exercise of Warrants would result in the Trust not having sufficient funds to pay each of items FIRST through FIFTH FOURTH in full, notwithstanding any other provision in this Trust Agreement (including the Additional Warrants Terms on Schedule III) or the Warrants, such exercise will be rescinded pursuant to Section 1.1(h) or Section 1.1(i) of Schedule III. Redemptions Priority: On any Distribution Date occurring in connection with a redemption of the Underlying Securities, to the extent such Distribution Date occurs due to a redemption of the Underlying Securities and only to the extent such Distribution Date does not relate to an exercise of Warrants, whether or not such redemption results in a Trust Wind-Up Event, the Trustee shall apply amounts available in connection with such redemption (excluding the amounts allocable to the aggregate Corresponding Underlying Security Amount related to any exercise of Warrants provided for above): FIRST, to the payment of any accrued and unpaid interest on the Units, SECOND, to the payment of the outstanding principal on the Units being redeemed, THIRD, any remaining amounts, if any, to the payment of any accrued and unpaid Expense Administrator’s Fee, and FOURTH, any remaining amounts, if any, to the Warrantholders, as payment of any Warrant Termination Payment. FIFTH, if there is no Warrant Termination Payment, any remaining amounts, if any, to the payment of an additional distribution amount to the holders of the Units equal to the pro rata portion of the excess of (i) the principal payment received with respect to the underlying securities over (ii) the aggregate unit principal balance on the final scheduled distribution date. Any amortization or other payment by the Underlying Security Issuer on the Underlying Securities shall be treated as a redemption if not otherwise addressed herein. Other Trust Wind-Up Events Priority: On any Distribution Date occurring in connection with a Trust Wind-Up Event due to an event or events other than an exercise of Warrants or a redemption of Underlying Securities (or to the extent thereof), the Trustee shall apply amounts available (excluding the amounts allocable to the aggregate Corresponding Underlying Security Amount related to any exercise of Warrants provided for above or the amounts distributable in connection with a redemption as provided for above): FIRST, to the payment of the claims of the Units such claims being equal to the Unit Principal Balance plus accrued and unpaid interest, if any, SECOND, to the payment of any accrued and unpaid Expense Administrator’s Fee, and THIRD, any remaining amounts are paid to the Warrantholders, as payment of any Warrant Termination Payment. FOURTH, if there is no Warrant Termination Payment, any remaining amounts, if any, are paid to the Unitholders of the Units being redeemed, pro rata in proportion to the Unit Principal Balance.

Exercise of Warrants Priority. On any Distribution Date occurring in connection with an exercise of the Warrants, or to the extent such Distribution Date occurs due to the exercise of Warrants, whether in whole or in part, whether or not such exercise results in a Trust Wind-Up Event, the Trustee shall apply amounts available in connection with such exercise (corresponding to the amounts allocable to the aggregate Corresponding Underlying Security Amount related to such exercise): FIRST, to the payment of any accrued and unpaid interest on the Class A Units and any accrued and unpaid Class B Payments being called pro rata in proportion to the outstanding amount of accrued and unpaid interest and unpaid payments on eachcalled, SECOND, to the payment of the outstanding principal on the Class A Units being called, THIRD, to the payment of $1.50 on each Class A Unit called as an Additional Distribution, if the related Call Date occurs prior to the First Regular Call Date and occurs in connection with a tender offer for the Underlying Securities, FOURTH, to the payment of the Class B Present Value Amount with respect to each Class B Unit called, adjusted for any accrued Class B Payments paid under Clause FIRST, as an Additional Distribution on the Class B Units called, FIFTH, to the payment of any accrued and unpaid Expense Administrator's Fee, including the Expense Administrator Make-Whole Amount, if any, and SIXTHFIFTH, to the exercising Warrantholders, to the extent such Warrantholders specified or were deemed to specify that their exercise was in connection with a redemption of or a tender offer for the Underlying Securities. If any exercise of Warrants would result in the Trust not having sufficient funds to pay each of items FIRST through FIFTH FOURTH in full, notwithstanding any other provision in this Trust Agreement (including the Additional Warrants Terms on Schedule III) or the Warrants, such exercise will be rescinded pursuant to Section 1.1(h) or Section 1.1(i) of Schedule III.