Common use of Reorganization and Similar Events Clause in Contracts

Reorganization and Similar Events. (a) In the event that an offer by the issuer of any of the Securities or any other party shall be made to issue new securities, or to exchange securities, for Trust Securities, the Trustee shall reject such offer. However, should any issuance, exchange or substitution be effected notwithstanding such rejection or without an initial offer, any securities, cash and/or property received in exchange shall be deposited hereunder and shall be promptly sold, if securities or property, by the Trustee, unless the Depositor advises the Trustee to keep such securities or property. The Trustee also may accept a tender offer for cash if the Supervisor determines that the sale or tender is in the best interest of the Unitholders. The cash received in such exchange and cash proceeds of any such sale or tender offer shall be distributed to Unitholders on the next Income Distribution Date in the manner set forth in Section 3.05 regarding distributions from the Capital Account. This section shall apply, but its application shall not be limited, to public tender offers, mergers, acquisitions, reorganizations and recapitalizations. Unless the Depositor directs that notice be otherwise provided, the Trustee shall include notice of any Security so acquired in the annual statement provided to Unitholders pursuant to Section 3.06. Except as provided in Article VI, neither the Depositor nor the Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of any such sale. Neither the Depositor nor the Trustee shall be liable to any person for any action or failure to take action pursuant to the terms of this Section 3.11 other than failure to notify the Depositor.

Reorganization and Similar Events. (a) In the event that an --------------------------------- offer by the issuer of any of the Securities or any other party shall be made to issue new securities, or to exchange securities, for Trust Securities, the Trustee shall reject such offer. However, should any issuance, exchange or substitution be effected notwithstanding such rejection or without an initial offer, any securitiesSecurities, cash and/or property received in exchange shall be deposited hereunder and shall be promptly sold, if securities or property, by the TrusteeTrustee pursuant to the Depositors' direction, unless the Depositor advises Depositors advise the Trustee to keep retain such securities or property. The Trustee also Depositors may accept a tender offer for cash if rely on the Portfolio Supervisor determines that in so advising the sale or tender is in the best interest of the UnitholdersTrustee. The cash received in such exchange and cash proceeds of any such sale or tender offer sales shall be distributed to Unitholders on the next Income Distribution Date in the manner set forth in Section 3.05 3.5 regarding distributions from the Capital Principal Account. This section shall apply, but its application shall not be limited, to public tender offers, mergers, acquisitions, reorganizations and recapitalizations. Unless the Depositor directs Depositors direct that notice be otherwise provided, the Trustee shall include notice of any Security so acquired in the annual statement provided to Unitholders pursuant to Section 3.06. Except as provided in Article VI, neither the Depositor nor the Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of any such sale3.6. Neither the Depositor Depositors nor the Trustee shall be liable to any person for any action or failure to take action pursuant to the terms of this Section 3.11 other than failure to notify the Depositor3.11.

Reorganization and Similar Events. (a) In the event that an --------------------------------- offer by the issuer of any of the Securities or any other party shall be made to issue new securities, or to exchange securities, for Trust Securities, the Trustee shall reject such offer. However, should any issuance, exchange or substitution be effected notwithstanding such rejection or without an initial offer, any securitiesSecurities, cash and/or property received in exchange shall be deposited hereunder and shall be promptly sold, if securities or property, by the TrusteeTrustee pursuant to the Depositor's direction, unless the Depositor advises the Trustee to keep retain such securities or property. The Trustee also Depositor may accept a tender offer for cash if rely on the Portfolio Supervisor determines that in so advising the sale or tender is in the best interest of the UnitholdersTrustee. The cash received in such exchange and cash proceeds of any such sale or tender offer sales shall be distributed to Unitholders on the next Income Distribution Date in the manner set forth in Section 3.05 3.5 regarding distributions from the Capital Principal Account. This section shall apply, but its application shall not be limited, to public tender offers, mergers, acquisitions, reorganizations and recapitalizations. Unless the Depositor directs that notice be otherwise provided, the Trustee shall include notice of any Security so acquired in the annual statement provided to Unitholders pursuant to Section 3.06. Except as provided in Article VI, neither the Depositor nor the Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of any such sale3.6. Neither the Depositor nor the Trustee shall be liable to any person for any action or failure to take action pursuant to the terms of this Section 3.11 other than failure to notify the Depositor3.11.