Common use of Notice to Depositor Clause in Contracts

Notice to Depositor. In the event that the Trustee shall have been notified at any time of any action to be taken or proposed to be taken with respect to the Securities (including but not limited to the making of any demand, direction, request, giving of any notice, consent or waiver or the voting with respect to any amendment or supplement to any indenture, resolution, agreement or other instrument under or pursuant to which the Securities have been issued) the Trustee shall: (a) with respect to the Fund Shares, promptly notify the Depositor and shall thereupon take such action or refrain from taking any action, as appropriate, so as to insure that such Fund Shares are voted as closely as possible in the same manner and the same general proportion, with respect to all issues, as are the shares of such Fund Shares held by owners other than the Trust; or (b) with respect to Securities other than Fund Shares, at the direction of the Depositor, vote for or against, or accept or reject, any offer for new or exchanged securities or property in exchange for a Trust Security. Should any issuance, exchange or substitution be effected, any securities, cash and/or property received shall be deposited hereunder and shall be promptly sold, if securities or property, by the Trustee pursuant to the Depositor's direction, unless the Depositor advises the Trustee to keep such securities or property."

Notice to Depositor. In the event that the Trustee shall have been notified at any time of any action to be taken or proposed to be taken with respect to the Securities (including but not limited to the making by at least a legally required number of holders of any demandSecurities deposited in a Trust, direction, request, giving of any notice, consent or waiver or the voting with respect to any amendment or supplement to any indenture, resolution, agreement or other instrument under or pursuant to which the Securities have been issued) the Trustee shall: (a) with respect to the Fund Shares, promptly notify the Depositor and shall thereupon take such action or refrain omit from taking any action, as appropriate, so as to insure that such Fund Shares the Securities are voted as closely as possible in the same manner and the same general proportion, with respect to all issues, proportion as are the shares of such Fund Shares Securities held by owners other than such Trust. In the Trust; or (b) with respect to Securities other than Fund Shares, at event that an offer by the direction issuer of any of the Depositor, vote for Securities or againstany other party shall be made to issue new securities, or accept or rejectto exchange securities, any offer for new or exchanged securities or property in exchange for a Trust SecuritySecurities, the Trustee shall reject such offer. Should However, should any issuance, exchange or substitution be effectedeffected notwithstanding such rejection or without an initial offer, any securities, cash and/or property received shall be deposited hereunder and shall be promptly sold, if securities or property, by the Trustee pursuant to the Depositor's direction, unless the Depositor advises the Trustee to keep such securities or property.". The Depositor may rely on the Portfolio Supervisor in so advising the Trustee. The cash received in such exchange and cash