Common use of Notice of Withdrawal Clause in Contracts

Notice of Withdrawal. Agent will return to any person tendering HOLDRS, in the manner described in Section 12 hereof, any HOLDRS tendered by such person but duly withdrawn pursuant to the Offer to Exchange. To be effective, Agent must receive a written notice of withdrawal at its address as set forth on the back page of the Offer to Exchange, within the time period specified for withdrawal in the Offer to Exchange. Any notice of withdrawal must specify the name of the holder of the HOLDRS to be withdrawn and the number of HOLDRS to be withdrawn. Agent is authorized and directed to examine any notice of withdrawal to determine whether it believes any such notice may be defective. In the event Agent concludes that any such notice is defective it shall, after consultation with and on the instructions of the Offeror, use reasonable efforts in accordance with its regular procedures to notify the person delivering such notice of such determination. All questions as to the form and validity (including time of receipt) of notices of withdrawal will be determined by the Offeror in its sole discretion, whose determination shall be final and binding. Any HOLDRS withdrawn in accordance with the procedures set forth in this section shall no longer be considered to be properly tendered unless such HOLDRS are re-tendered prior to the Expiration Time in accordance with Section 3 hereof.