Common use of Extraordinary Distributions Clause in Contracts

Extraordinary Distributions. Except as otherwise provided in Section 3.13, any property received by the Trustee after the initial date of Deposit in a form other than cash or additional shares of the Securities listed on Schedule A or of a Replacement Security, shall be either (i) dealt with under the Distribution Agency Agreement as though such property were an asset of the Trust other than cash remaining on hand at the termination of the Trust or (ii) sold, and the proceeds of sale credited to the Principal Account of the Trust, all as the Depositor may direct. In no event shall the Trustee hold as part of the Trust, except temporarily pending sale or distribution as described in the preceding sentence, any property other than cash (including a letter of credit) and the Securities described on Schedule A or a Replacement Security. The Securities, Purchase Rights and cash represented by a Unit shall be uniform so that each Unit shall at all times represent property identical to that represented by every other Unit. Securities identical to those represented by a Unit and received as the result of a stock dividend or stock split may be retained in the Trust and the number of shares of such a Security represented by a Unit adjusted accordingly. All other non-cash distributions in respect of any Securities held in the Trust shall be sold or distributed to Unit Holders through the Distribution Agent, as referred to above.

Extraordinary Distributions. Except as otherwise provided in Section 3.13, any property received by the Trustee after the initial date of Deposit in a form other than cash or additional shares of the Securities listed on Schedule A or of a Replacement Security, shall be either (i) dealt with under the Distribution Agency Agreement as though such property were an asset of the Trust other than cash remaining on hand at the termination of the Trust or (ii) sold, and the proceeds of sale credited to the Principal Account of the Trust, all as the Depositor may direct. In no event shall the Trustee hold as part of the Trust, except temporarily pending sale or distribution as described in the preceding sentence, any property other than cash (including a letter of credit) and the Securities described on Schedule A or a Replacement Security. The Securities, Purchase Rights Securities and cash represented by a Unit shall be uniform so that each Unit shall at all times represent property identical to that represented by every other Unit. Securities identical to those represented by a Unit and received as the result of a stock dividend or stock split may be retained in the Trust and the number of shares of such a Security represented by a Unit adjusted accordingly. All other non-cash distributions in respect of any Securities held in the Trust shall be sold or distributed to Unit Holders through the Distribution Agent, as referred to above.

Extraordinary Distributions. Except as otherwise provided in Section 3.13, any property received by the Trustee after the initial date of Deposit in a form other than cash or additional shares of the Securities listed on Schedule A or of a Replacement Security, shall be either (i) dealt with under the Distribution Agency Agreement as though such property were an asset of the Trust other than cash remaining on hand at the termination of the Trust or (ii) sold, and the proceeds of sale credited to the Principal Account of the Trust, all as the Depositor may direct. In no event shall the Trustee hold as part of the Trust, except temporarily pending sale or distribution as described in the preceding sentence, any property other than cash (including a letter of credit) and the Securities described on Schedule A or a Replacement Security. The Securities, Purchase Rights Securities and cash represented by a Unit shall be uniform so that each Unit shall at all times represent property identical to that represented by every other Unit. Securities identical to those represented by a Unit and received as the result of a stock dividend or stock split may be retained in the Trust and the number of shares of such a Security represented by a Unit adjusted accordingly. All other non-cash distributions in respect of any Securities held in the Trust shall be sold or distributed to Unit Holders through the Distribution Agent, as referred to above.