Common use of Redemption and Call Clause in Contracts

Redemption and Call. The Trust Property is subject to redemption in accordance with the terms of the Underlying Securities and as described in Schedule II. Any such redemption will cause a redemption of a corresponding portion of the Class A Units and the Class B Units. The Class A Units and the Class B Units are subject to call in accordance with the Warrant Terms. If the Warrants are partially exercised or if there is a partial redemption of the Underlying Securities, the Trustee will randomly select Class A Units to be redeemed in full from the proceeds of such partial redemption or called in full from the proceeds of such partial exercise. The Trustee will also randomly select Class B Units for call or redemption in an amount equal to an Initial Notional Amortizing Balance of Class B Units corresponding to the Applicable Class B Equivalent Amount.

Appears in 4 contracts

Samples: Trust Agreement (MS Structured Saturns Series 2004-3), Trust Agreement (MS Structured Asset Corp), Trust Agreement (MS Structured Saturns Series 2004-4)

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Redemption and Call. The Trust Property is subject to redemption in accordance with the terms of the Underlying Securities and as described in Schedule II. Any such redemption will cause a redemption of a corresponding portion of the Class A Units and the Class B Units. The Class A Units and the Class B Units are subject to call in accordance with the Warrant Terms. If the Warrants are partially exercised or if there is a partial redemption of the Underlying Securities, the Trustee will randomly select Class A Units to be redeemed in full from the proceeds of such partial redemption or called in full from the proceeds of such partial exercise. The If the Warrants are partially exercised and if and to the extent that there is no Alternative Exercise or if there is a partial redemption of the Underlying Securities, the Trustee will also randomly select Class B Units for call or redemption in an amount equal to an Initial Notional Amortizing Balance of Class B Units corresponding to the Applicable Class B Equivalent Amount.

Appears in 4 contracts

Samples: Trust Agreement (MS Structured Saturns Series 2005-1), Trust Agreement (MS Structured Asset Corp Saturns Trust Number 2004-6), Trust Agreement (MS Structured Saturns Series 2005-2)

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