Common use of Reconstitution Events Clause in Contracts

Reconstitution Events. (a) If any class of Securities ceases to be outstanding as a result of a merger, consolidation or other corporate combination of the Securities Issuer and, as a result, securities which are not Underlying Securities or Additional Securities are received by the Trustee in exchange for, in conversion of or in respect of the Underlying Securities, and Section 4.8 of the Standard Terms does not apply, the Trustee shall, to the extent lawful and feasible and subject to Section 4.10 of the Standard Terms, distribute any securities which shall be received by the Trustee to the Owners in proportion to their Ownership of Receipts. Effective on the date that such Securities cease to be outstanding, such class of Securities shall cease to be part of the securities which must be deposited for issuance of Receipts.

Reconstitution Events. (a) If any class of Securities ceases to be outstanding as a result of a merger, consolidation or other corporate combination of the Securities Issuer and, as a result, securities which are not Underlying Securities or Additional Securities are received by the Trustee in exchange for, in conversion of or in respect of the Underlying Securities, and Section 4.8 of the Standard Terms does not apply, the Trustee shall, if it has actual knowledge of such event, to the extent lawful and feasible and subject to Section 4.10 of the Standard Terms, distribute any securities which shall be received by the Trustee in exchange for, in conversion of or in respect of Underlying Securities which are not Securities issued by a Securities Issuer to the Owners in proportion to their Ownership ownership of Receipts. Effective on the date that such Securities cease to be outstanding, such class of Securities shall cease to be part of the securities which must be deposited for issuance of Receipts.