Common use of SPECIAL DISTRIBUTION EVENTS Clause in Contracts

SPECIAL DISTRIBUTION EVENTS. The first to occur of any of the following events is a "Special Distribution Event", the occurrence of which shall cause a distribution of any undistributed Company Preferred Securities to Securityholders and permit the dissolution of the Trust: (a) the written direction to the Property Trustee from the Depositor, only if a Tax Event or an Investment Company Event (each as defined in the Notes) has occurred, to distribute to Securityholders in exchange for the Trust Preferred Securities, (i) Company Preferred Securities or (ii) if the LLC has been liquidated and Notes have been distributed to the Property Trustee to be held as Trust Property, Notes; (b) the redemption of all of the Trust Preferred Securities; (c) the withdrawal of all of the Company Preferred Securities by the Securityholders or, if the LLC has been liquidated and Notes have been distributed to the Property Trustee to be held as Trust Property, the withdrawal of all of the Notes by the Securityholders; and (d) the entry of an order for dissolution of the Trust by a court of competent jurisdiction.

SPECIAL DISTRIBUTION EVENTS. The first to occur of any of the following events is a "Special Distribution Event", the occurrence of which shall cause a distribution of any undistributed Company Preferred Securities to Securityholders Holders and permit the dissolution of the Trust: (a) the written direction to the Property Trustee from the Depositor, only if a Tax Event or an Investment Company Event (each as defined in the Notes) has occurred, to distribute to Securityholders Holders in exchange for the Trust Preferred Securities, (i) Company Preferred Securities Securities, or (ii) if the LLC has been liquidated and Notes have been distributed to the Property Trustee to be held as Trust Property, Notes; (b) the redemption of all of the Trust Preferred Securities; (c) the withdrawal of all of the Company Preferred Securities by the Securityholders Holders or, if the LLC has been liquidated and Notes have been distributed to the Property Trustee to be held as Trust Property, the withdrawal of all of the Notes by the SecurityholdersHolders; and (d) the entry of an order for dissolution of the Trust by a court of competent jurisdiction.