Common use of Principal Payments Following Termination Event Clause in Contracts

Principal Payments Following Termination Event. All payments received by the Securities Intermediary following a Termination Event of (1) the [liquidation amount of Pledged Preferred Securities or securities entitlements with respect thereto or (2) the Applicable Ownership Interests (as specified in Clause (A) of the definition thereof) in the Treasury Portfolio, (3) the] principal amount of Pledged Notes or securities entitlements with respect thereto or (4) the principal amount of the Pledged Treasury Securities or securities entitlements with respect thereto, shall be distributed to the Purchase Contract Agent for the benefit of the applicable Holders for distribution to such Holders in accordance with their respective interests.

Principal Payments Following Termination Event. All payments received by the Securities Intermediary following a Termination Event of (1) the [liquidation amount of Pledged Preferred Securities or securities entitlements with respect thereto or thereto, (2) the Applicable Ownership Interests (as specified in Clause clause (A) of the definition thereof) in of the Treasury Portfolio, (3) the] the aggregate principal amount of Pledged Notes Debentures or securities entitlements with respect thereto thereto, or (4) the principal amount of the Pledged Treasury Securities or securities entitlements with respect thereto, thereto shall be distributed to the Purchase Contract Agent for the benefit of the applicable Holders for distribution to such Holders in accordance with their respective interests.

Principal Payments Following Termination Event. All payments received by the Securities Intermediary following a Termination Event of (1) the [liquidation amount of Pledged Preferred Securities or securities entitlements with respect thereto or thereto, (2) the Applicable Ownership Interests Interest (as specified in Clause clause (A) of the definition thereof) in of the Treasury Portfolio, (3) the] the principal amount of Pledged Notes Debentures or securities entitlements with respect thereto thereto, or (4) the principal amount of the Pledged Treasury Securities or securities entitlements with respect thereto, thereto shall be distributed to the Purchase Contract Agent for the benefit of the applicable Holders for distribution to such Holders in accordance with their respective interests.

Principal Payments Following Termination Event. All payments received by the Securities Intermediary following a Termination Event of (1) the [liquidation amount of Pledged Preferred Securities or securities entitlements with respect thereto thereto, or (2) the Applicable Ownership Interests (as specified in Clause (A) of the definition thereof) in of the Treasury Portfolio, (3) the] the aggregate principal amount of the Pledged Subordinated Deferrable Notes or securities entitlements with respect thereto thereto, or (4) the principal amount of the Pledged Treasury Securities or securities entitlements with respect theretoSecurities, shall be distributed to the Purchase Contract Agent for the benefit of the applicable Holders for distribution to such Holders in accordance with their respective interests.

Principal Payments Following Termination Event. All payments received by the Securities Intermediary following a Termination Event of (1) the [liquidation amount of Pledged Preferred Securities or securities entitlements with respect thereto thereto, or (2) the Applicable Ownership Interests (as specified in Clause (A) of the definition thereof) in of the Treasury Portfolio, (3) the] the aggregate principal amount of the Pledged Notes Debentures or securities entitlements with respect thereto thereto, or (4) the principal amount of the Pledged Treasury Securities or securities entitlements with respect theretoSecurities, shall be distributed to the Purchase Contract Agent for the benefit of the applicable Holders for distribution to such Holders in accordance with their respective interests.

Principal Payments Following Termination Event. All payments received by the Securities Intermediary Collateral Agent following a Termination Event of (1) the [aggregate liquidation amount of Pledged Preferred Securities or securities entitlements with respect thereto or thereto, (2) the Applicable Ownership Interests (as specified in Clause clause (A) of the definition thereof) in of the aggregate principal amount of the Treasury Portfolio, (3) the] the aggregate principal amount of the Pledged Notes or securities entitlements with respect thereto thereto, or (4) the principal amount of the Pledged Treasury Securities or securities entitlements with respect theretoSecurities, shall be distributed to the Purchase Contract Agent for the benefit of the applicable Holders for distribution to such Holders in accordance with their respective interests.