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 thereto, or (2) the Applicable Ownership Interests (as specified in Clause (A) of the definition thereof) of the Treasury Portfolio, (3) the aggregate principal amount of the Pledged Senior Deferrable Notes or securities entitlements thereto, or (4) the principal amount of the Pledged Treasury Securities, 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 thereto, or (2) the Applicable Ownership Interests (as specified in Clause (A) of the definition thereof) of the Treasury Portfolio, (3) the aggregate principal amount of the Pledged Senior Deferrable [Subordinated] Notes or securities entitlements thereto, or (4) the principal amount of the Pledged Treasury Securities, 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 or redemption amount of Pledged Preferred Securities or securities entitlements thereto, or (2) the Applicable Ownership Interests (as specified in Clause (A) of the definition thereof) of the Treasury Portfolio, (3) the aggregate principal amount or redemption amount of the Pledged Senior Subordinated Deferrable Notes or securities entitlements thereto, or (4) the principal amount of the Pledged Treasury Securities, 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 liquidation amount of Pledged Preferred Securities or securities entitlements thereto, or (2) the Applicable Ownership Interests (as specified in Clause clause (A) of the definition thereof) of the aggregate principal amount of the Treasury Portfolio, (3) the aggregate principal amount of the Pledged Senior Deferrable Notes or securities entitlements thereto, or (4) the principal amount of the Pledged Treasury Securities, 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.