Common use of Removal of Underlying Notes Upon Final Judgment Clause in Contracts

Removal of Underlying Notes Upon Final Judgment. Upon the Trustee's receipt of written notice or its actual knowledge of any action brought under any U.S. Federal or State securities laws in respect of an Underlying Note of any Underlying Issuer, the Trustee shall promptly notify Certificateholders about the existence of such action and the Trustee's role, if any, in such action. Furthermore, as soon as practicable (but in no event later than twelve Business Days) following the Trustee's receipt of any written notice or its actual knowledge of a final judgment or decree granting a right of rescission with respect to an Underlying Note of an Underlying Issuer in connection with any action brought under any U.S. Federal or State securities laws in respect of such Underlying Note, the Trustee will remove all of the Underlying Notes of such Underlying Issuer, in whole and not in part, from the Trust Property and will distribute such Underlying Notes to the Certificateholders on a pro rata basis (based on their respective Fractional Undivided Interests) and the Certificate Principal Balance of each Certificate will be reduced by an amount equal to the pro rata share of the principal amount of such Underlying Notes, provided, however, that if at the time of such removal the Trust has Trust Expenses that have not been fully paid or amortized by the Trust, the Trust may retain Underlying Notes, and not distribute them to Certificateholders, in an amount equal to each Certificateholder’s pro rata share of these Trust Expenses. The removal of any Underlying Note pursuant to this Section 3.11 shall not be subject to or eligible for sale under Section 3.10.

Removal of Underlying Notes Upon Final Judgment. Upon the Trustee's receipt of written notice or its actual knowledge of any action brought under any U.S. Federal or State securities laws in respect of an Underlying Note of any Underlying Issuer, the Trustee shall promptly notify Certificateholders about the existence of such action and the Trustee's role, if any, in such action. Furthermore, as soon as practicable (but in no event later than twelve Business Days) following the Trustee's receipt of any written notice or its actual knowledge of a final judgment or decree granting a right of rescission with respect to an Underlying Note of an Underlying Issuer in connection with any action brought under any U.S. Federal or State securities laws in respect of such Underlying Note, the Trustee will remove all of the Underlying Notes of such Underlying Issuer, in whole and not in part, from the Trust Property and will distribute such Underlying Notes to the Certificateholders on a pro rata basis (based on their respective Fractional Undivided Interests) and the Certificate Principal Balance of each Certificate will be reduced by an amount equal to the pro rata share of the principal amount of such Underlying Notes, provided, however, that if at the time of such removal the Trust has Trust Expenses that have not been fully paid or amortized by the Trust, the Trust may retain Underlying Notes, and not distribute them to Certificateholders, in an amount equal to each Certificateholder’s pro rata share of these Trust Expenses. The removal of any Underlying Note pursuant to this Section 3.11 3.10 shall not be subject to or eligible for sale under Section 3.103.09.

Removal of Underlying Notes Upon Final Judgment. Upon the Trustee's receipt of written notice or its actual knowledge of any action brought under any U.S. Federal federal or State securities laws in respect of an Underlying Note of any Underlying Issuer, the Trustee shall promptly notify Certificateholders about the existence of such action and the Trustee's role, if any, in such action. Furthermore, as soon as practicable (but in no event later than twelve Business Days) following Following the Trustee's receipt of any written notice or its actual knowledge of a final judgment or decree granting a right of rescission with respect to an Underlying Note of an Underlying Issuer in connection with any action brought under any U.S. Federal federal or State securities laws in respect of such Underlying Note, the Trustee will make commercially reasonable efforts, within twelve Business Days, to remove all of the Underlying Notes of such Underlying Issuer, in whole and not in part, from the Trust Property and will to distribute such Underlying Notes to the Certificateholders on a pro rata basis (based on their respective Fractional Undivided Interests) ), and the Certificate Principal Balance of each Certificate will be reduced by an amount equal to the pro rata share of the principal amount of such Underlying Notes, provided, however, that if at the time of such removal the Trust has Trust Expenses that have not been fully paid or amortized by the Trust, the Trust may retain Underlying Notes, and not distribute them to Certificateholders, in an amount equal to each Certificateholder’s pro rata share of these Trust Expenses. The removal of any Underlying Note pursuant to this Section 3.11 shall not be subject to or eligible for sale under Section 3.10.

Removal of Underlying Notes Upon Final Judgment. Upon the Trustee's receipt of written notice or its actual knowledge of any action brought under any U.S. Federal or State securities laws in respect of an Underlying Note of any Underlying Issuer, the Trustee shall promptly notify Certificateholders about the existence of such action and the Trustee's role, if any, in such action. Furthermore, as soon as practicable (but in no event later than twelve Business Days) following the Trustee's receipt of any written notice or its actual knowledge of a final judgment or decree granting a right of rescission with respect to an Underlying Note of an Underlying Issuer in connection with any action brought under any U.S. Federal or State securities laws in respect of such Underlying Note, the Trustee will remove all of the Underlying Notes of such Underlying Issuer, in whole and not in part, from the Trust Property and will distribute such Underlying Notes to the Certificateholders on a pro rata basis (based on their respective Fractional Undivided Interests) and the Certificate Principal Balance of each Certificate will be reduced by an amount equal to the pro rata share of the principal amount of such Underlying Notes, provided, however, that if at the time of such removal the Trust has Trust Expenses that have not been fully paid or amortized by the Trust, the Trust may retain Underlying Notes, and not distribute them to Certificateholders, in an amount equal to each Certificateholder’s pro rata share of these Trust Expenses. The removal of any Underlying Note pursuant to this Section 3.11 3.10 shall not be subject to or eligible for sale under Section 3.103.09.

Removal of Underlying Notes Upon Final Judgment. Upon the Trustee's receipt of written notice or its actual knowledge of any action brought under any U.S. Federal or State securities laws in respect of an Underlying Note of any Underlying Issuer, the Trustee shall promptly notify Certificateholders about the existence of such action and the Trustee's role, if any, in such action. Furthermore, as soon as practicable (but in no event later than twelve Business Days) following the Trustee's receipt of any written notice or its actual knowledge of a final judgment or decree granting a right of rescission with respect to an Underlying Note of an Underlying Issuer in connection with any action brought under any U.S. Federal or State securities laws in respect of such Underlying Note, the Trustee will remove all of the Underlying Notes of such Underlying Issuer, in whole and not in part, from the Trust Property and will distribute such Underlying Notes to the Certificateholders on a pro rata basis (based on their respective Fractional Undivided Interests) and the Certificate Principal Balance of each Certificate will be reduced by an amount equal to the pro rata share of the principal amount of such Underlying Notes, provided, however, that if at the time of such removal the Trust has Trust Expenses that have not been fully paid or amortized by the Trust, the Trust may retain Underlying Notes, and not distribute them to Certificateholders, in an amount equal to each Certificateholder’s pro rata share of these Trust Expenses. The removal of any Underlying Note pursuant to this Section 3.11 shall not be subject to or eligible for sale under Section 3.10.