Common use of Purchase of Notes as Principal Clause in Contracts

Purchase of Notes as Principal. (a) Subject in all respects to the terms and conditions of the Distribution Agreement, the Trust hereby agrees to sell to the Purchasing Agent(s) and each Purchasing Agent(s) hereby agree(s), severally and not jointly, to purchase the Notes having the terms specified in the Pricing Supplement relating to such Notes and in the principal amount of the Notes set forth opposite the Purchasing Agent’s name in the Pricing Supplement. (b) In connection with any purchase of Notes from the Trust by the Purchasing Agent(s) as principal, the parties agree that the items specified on Schedule I of the Omnibus Instrument will be delivered as of the Settlement Date.