Common use of Substitute Securities Clause in Contracts

Substitute Securities. In the event that any Contract --------------------- Security or Security to be purchased pursuant to a contract entered into by the Trustee in accordance with Section 2.5 is not delivered due to any occurrence, act or event beyond the control of the Depositors and of the Trustee (such a Contract Security being herein called a "Failed Security"), the Depositors may instruct the Trustee to purchase Substitute Securities which have been selected by the Depositors having a cost not in excess of the cost of the Failed Securities. To be eligible for inclusion in the Trust, the Substitute Securities which the Depositors select must: (a) be of the same type as that replaced (e.g., both will be common stock or preferred stock); (b) in the ---- Depositors' judgment, be substantially similar to the Failed Security, as the case may be, as respects the investment characteristics which led the Depositors to select the Failed Security for inclusion in the Trust; and (c) be purchased prior to, simultaneously with, or no more than twenty days after delivery of written notice to the Trustee or Depositors, as appropriate, of the failed contract (the "Failed Contract Notice"). Any Substitute Securities received by the Trustee shall be deposited hereunder and shall be subject to the terms and conditions of this Indenture to the same extent as other Securities deposited hereunder. No such deposit of Substitute Securities shall be made after the earlier of (i) 90 days after the date of execution and delivery of the applicable Reference Trust Agreement or (ii) the first Distribution Date to occur after the date of execution and delivery of the applicable Reference Trust Agreement. Whenever a Substitute Security is acquired by the Trust pursuant to the provisions of this Section 3.7, the Trustee shall, within five days thereafter, mail to all Unitholders notices of such acquisition, including an identification of the Failed Security and the Substitute Security acquired. The purchase price of a Substitute Security shall be paid out of the funds in the Principal Account attributable to the Failed Security which it replaces. The Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of any purchase made pursuant to any such instructions from the Depositors and in the absence of such instructions the Trustee shall have no duty to purchase any Substitute Securities under this Indenture. The Depositors shall not be liable for any failure to instruct the Trustee to purchase any Substitute Security or for errors of judgment in selecting any Substitute Security.

Substitute Securities. In the event that any ---------------------- Contract --------------------- Security or Security to be purchased pursuant to a contract entered into by the Trustee in accordance with Section 2.5 is not delivered due to any occurrence, act or event beyond the control of the Depositors and of the Trustee (such a Contract Security being herein called a "Failed Security"), the Depositors may instruct the Trustee to purchase Substitute Securities which have been selected by the Depositors having a cost not in excess of the cost of the Failed Securities. To be eligible for inclusion in the Trust, the Substitute Securities which the Depositors select must: (a) be of the same type as that replaced (e.g., both will be common stock or preferred stock); (b) in the ---- Depositors' judgment, be substantially similar to the Failed Security, as the case may be, as respects the investment characteristics which led the Depositors to select the Failed Security for inclusion in the Trust; and (c) be purchased prior to, simultaneously with, or no more than twenty days after delivery of written notice to the Trustee or Depositors, as appropriate, of the failed contract (the "Failed Contract Notice"). Any Substitute Securities received by the Trustee shall be deposited hereunder and shall be subject to the terms and conditions of this Indenture to the same extent as other Securities deposited hereunder. No such deposit of Substitute Securities shall be made after the earlier of (i) 90 days after the date of execution and delivery of the applicable Reference Trust Agreement or (ii) the first Distribution Date to occur after the date of execution and delivery of the applicable Reference Trust Agreement. Whenever a Substitute Security is acquired by the Trust pursuant to the provisions of this Section 3.7, the Trustee shall, within five days thereafter, mail to all Unitholders notices of such acquisition, including an identification of the Failed Security and the Substitute Security acquired. The purchase price of a Substitute Security shall be paid out of the funds in the Principal Account attributable to the Failed Security which it replaces. The Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of any purchase made pursuant to any such instructions from the Depositors and in the absence of such instructions the Trustee shall have no duty to purchase any Substitute Securities under this Indenture. The Depositors shall not be liable for any failure to instruct the Trustee to purchase any Substitute Security or for errors of judgment in selecting any Substitute Security.

Substitute Securities. In the event that any Contract --------------------- Security or Security to be purchased pursuant to a contract entered into by the Trustee in accordance with Section 2.5 is not delivered due to any occurrence, act or event beyond the control of the Depositors Depositor and of the Trustee (such a Contract Security being herein called a "“Failed Security"”), the Depositors Depositor may instruct the Trustee to purchase Substitute Securities which have been selected by the Depositors Depositor having a cost not in excess of the cost of the Failed Securities. To be eligible for inclusion in the Trust, the Substitute Securities which the Depositors select Depositor selects must: (a) be of the same type as that replaced (e.g., both will be common stock or preferred stock); (b) in the ---- Depositors' Depositor’s judgment, be substantially similar to the Failed Security, as the case may be, as respects the investment characteristics which led the Depositors Depositor to select the Failed Security for inclusion in the Trust; and (c) be purchased prior to, simultaneously with, or no more than twenty days after delivery of written notice to the Trustee or DepositorsDepositor, as appropriate, of the failed contract (the "“Failed Contract Notice"”). Any Substitute Securities received by the Trustee shall be deposited hereunder and shall be subject to the terms and conditions of this Indenture to the same extent as other Securities deposited hereunder. No such deposit of Substitute Securities shall be made after the earlier of (i) 90 days after the date of execution and delivery of the applicable Reference Trust Agreement or (ii) the first Distribution Date to occur after the date of execution and delivery of the applicable Reference Trust Agreement. . Whenever a Substitute Security is acquired by the Trust pursuant to the provisions of this Section 3.7, the Trustee shall, within five days thereafter, mail to all Unitholders notices of such acquisition, including an identification of the Failed Security and the Substitute Security acquired. The purchase price of a Substitute Security shall be paid out of the funds in the Principal Account attributable to the Failed Security which it replaces. The Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of any purchase made pursuant to any such instructions from the Depositors Depositor and in the absence of such instructions the Trustee shall have no duty to purchase any Substitute Securities under this Indenture. The Depositors Depositor shall not be liable for any failure to instruct the Trustee to purchase any Substitute Security or for errors of judgment in selecting any Substitute Security.

Substitute Securities. In the event that any Contract --------------------- Security or Security to be purchased pursuant to a contract entered into by the Trustee in accordance with Section 2.5 is not delivered due to any occurrence, act or event beyond the control of the Depositors and of the Trustee (such a Contract Security being herein called a "Failed Security"), the Depositors may instruct the Trustee to purchase Substitute Securities which have been selected by the Depositors having a cost not in excess of the cost of the Failed Securities. To be eligible for inclusion in the Trust, the Substitute Securities which the Depositors select must: (a) be of the same type as that replaced (e.g., both will be common stock or preferred stock); (b) in the ---- Depositors' judgment, be substantially similar to the Failed Security, as the case may be, as respects the investment characteristics which led the Depositors to select the Failed Security for inclusion in the Trust; and (c) be purchased prior to, simultaneously with, or no more than twenty days after delivery of written notice to the Trustee or Depositors, as appropriate, of the failed contract (the "Failed Contract Notice"). Any Substitute Securities received by the Trustee shall be deposited hereunder and shall be subject to the terms and conditions of this Indenture to the same extent as other Securities deposited hereunder. No such deposit of Substitute Securities shall be made after the earlier of (i) 90 days after the date of execution and delivery of the applicable Reference Trust Agreement or (ii) the first Distribution Date to occur after the date of execution and delivery of the applicable Reference Trust Agreement. Whenever a Substitute Security is acquired by the Trust pursuant to the provisions of this Section 3.7, the Trustee shall, within five days thereafter, mail to all Unitholders notices of such acquisition, including an identification of the Failed Security and the Substitute Security acquired. The purchase price of a Substitute Security shall be paid out of the funds in the Principal Account principal account attributable to the Failed Security which it replaces. The Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of any purchase made pursuant to any such instructions from the Depositors and in the absence of such instructions the Trustee shall have no duty to purchase any Substitute Securities under this Indenture. The Depositors shall not be liable for any failure to instruct the Trustee to purchase any Substitute Security or for errors of judgment in selecting any Substitute Security.

Substitute Securities. In the event that any Contract Security --------------------- Security or Security to be purchased pursuant to a contract entered into by the Trustee in accordance with Section 2.5 is not delivered due to any occurrence, act or event beyond the control of the Depositors and of the Trustee (such a Contract Security being herein called a "Failed Security"), the Depositors may instruct the Trustee to purchase Substitute Securities which have been selected by the Depositors having a cost not in excess of the cost of the Failed Securities. To be eligible for inclusion in the Trust, the Substitute Securities which the Depositors select must: (a) be of the same type as that replaced (e.g., both will be common stock or preferred stock); (b) in the ---- Depositors' judgment, be substantially similar to the Failed Security, as the case may be, as respects the investment characteristics which led the Depositors to select the Failed Security for inclusion in the Trust; and (c) be purchased prior to, simultaneously with, or no more than twenty days after delivery of written notice to the Trustee or Depositors, as appropriate, of the failed contract (the "Failed Contract Notice"). Any Substitute Securities received by the Trustee shall be deposited hereunder and shall be subject to the terms and conditions of this Indenture to the same extent as other Securities deposited hereunder. No such deposit of Substitute Securities shall be made after the earlier of (i) 90 days after the date of execution and delivery of the applicable Reference Trust Agreement or (ii) the first Distribution Date to occur after the date of execution and delivery of the applicable Reference Trust Agreement. Whenever a Substitute Security is acquired by the Trust pursuant to the provisions of this Section 3.7, the Trustee shall, within five days thereafter, mail to all Unitholders notices of such acquisition, including an identification of the Failed Security and the Substitute Security acquired. The purchase price of a Substitute Security shall be paid out of the funds in the Principal Account attributable to the Failed Security which it replaces. The Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of any purchase made pursuant to any such instructions from the Depositors and in the absence of such instructions the Trustee shall have no duty to purchase any Substitute Securities under this Indenture. The Depositors shall not be liable for any failure to instruct the Trustee to purchase any Substitute Security or for errors of judgment in selecting any Substitute Security.

Substitute Securities. In the event that any Contract --------------------- Security or Security to be purchased pursuant to a contract entered into by the Trustee in accordance with Section 2.5 is not delivered due to any occurrence, act or event beyond the control of the Depositors Depositor and of the Trustee (such a Contract Security being herein called a "Failed Security"), the Depositors Depositor may instruct the Trustee to purchase Substitute Securities which have been selected by the Depositors Depositor having a cost not in excess of the cost of the Failed Securities. To be eligible for inclusion in the Trust, the Substitute Securities which the Depositors select Depositor selects must: (a) be of the same type as that replaced (e.g., both will be common stock or preferred stock); (b) in the ---- Depositors' Depositor's judgment, be substantially similar to the Failed Security, as the case may be, as respects the investment characteristics which led the Depositors Depositor to select the Failed Security for inclusion in the Trust; and (c) be purchased prior to, simultaneously with, or no more than twenty days after delivery of written notice to the Trustee or DepositorsDepositor, as appropriate, of the failed contract (the "Failed Contract Notice"). Any Substitute Securities received by the Trustee shall be deposited hereunder and shall be subject to the terms and conditions of this Indenture to the same extent as other Securities deposited hereunder. No such deposit of Substitute Securities shall be made after the earlier of (i) 90 days after the date of execution and delivery of the applicable Reference Trust Agreement or (ii) the first Distribution Date to occur after the date of execution and delivery of the applicable Reference Trust Agreement. Whenever a Substitute Security is acquired by the Trust pursuant to the provisions of this Section 3.7, the Trustee shall, within five days thereafter, mail to all Unitholders notices of such acquisition, including an identification of the Failed Security and the Substitute Security acquired. The purchase price of a Substitute Security shall be paid out of the funds in the Principal Account attributable to the Failed Security which it replaces. The Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of any purchase made pursuant to any such instructions from the Depositors Depositor and in the absence of such instructions the Trustee shall have no duty to purchase any Substitute Securities under this Indenture. The Depositors Depositor shall not be liable for any failure to instruct the Trustee to purchase any Substitute Security or for errors of judgment in selecting any Substitute Security.

Substitute Securities. In the event that any Contract --------------------- Security or Security to be purchased pursuant to a contract entered into by the Trustee in accordance with Section 2.5 is not delivered due to any occurrence, act or event beyond the control of the Depositors Depositor and of the Trustee (such a Contract Security being herein called a "“Failed Security"”), the Depositors Depositor may instruct the Trustee to purchase Substitute Securities which have been selected by the Depositors Depositor having a cost not in excess of the cost of the Failed Securities. To be eligible for inclusion in the Trust, the Substitute Securities which the Depositors select Depositor selects must: (a) be of the same type as that replaced (e.g., both will be be, a Bond, common stock or preferred stock); (b) in the ---- Depositors' Depositor’s judgment, be substantially similar to the Failed Security, as the case may be, as respects the investment characteristics which led the Depositors Depositor to select the Failed Security for inclusion in the Trust; and (c) be purchased prior to, simultaneously with, or no more than twenty days after delivery of written notice to the Trustee or DepositorsDepositor, as appropriate, of the failed contract (the "“Failed Contract Notice"”); and (d) with respect to a Failed Security which is a Bond, the Replacement Bonds which the Depositor selects must: (i) yield current interest which is exempt from taxation for Federal income tax purposes; (ii) have a fixed maturity or disposition date comparable to the bonds replaced; (iii) be purchased at a price that results in a yield to maturity and in a current return, in each case as of the execution and delivery of the applicable Reference Trust Agreement, which is approximately equivalent to the yield maturity and current return of the Special Bonds which failed to be delivered and for which the Replacement Bonds are substituted; and (iv) be rated in the same rating category or better by at least one national rating organization. Any Substitute Securities received by the Trustee shall be deposited hereunder and shall be subject to the terms and conditions of this Indenture to the same extent as other Securities deposited hereunder. No such deposit of Substitute Securities shall be made after the earlier of (i) 90 days after the date of execution and delivery of the applicable Reference Trust Agreement or (ii) the first Distribution Date to occur after the date of execution and delivery of the applicable Reference Trust Agreement. Whenever a Substitute Security is acquired by the Trust pursuant to the provisions of this Section 3.7, the Trustee shall, within five days thereafter, mail to all Unitholders notices of such acquisition, including an identification of the Failed Security and the Substitute Security acquired. The purchase price of a Substitute Security shall be paid out of the funds in the Principal Account attributable to the Failed Security which it replaces. The Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of any purchase made pursuant to any such instructions from the Depositors Depositor and in the absence of such instructions the Trustee shall have no duty to purchase any Substitute Securities under this Indenture. The Depositors Depositor shall not be liable for any failure to instruct the Trustee to purchase any Substitute Security or for errors of judgment in selecting any Substitute Security.

Substitute Securities. In the event that any Contract --------------------- Security or Security to be purchased pursuant to a contract entered into by the Trustee in accordance with Section 2.5 is not delivered due to any occurrence, act or event beyond the control of the Depositors Depositor and of the Trustee (such a Contract Security being herein called a "Failed Security"), the Depositors Depositor may instruct the Trustee to purchase Substitute Securities which have been selected by the Depositors Depositor having a cost not in excess of the cost of the Failed Securities. To be eligible for inclusion in the Trust, the Substitute Securities which the Depositors select Depositor selects must: (a) be of the same type as that replaced (e.g., both will be common stock or preferred stock); (b) in the ---- Depositors' Depositor's judgment, be substantially similar to the Failed Security, as the case may be, as respects the investment characteristics which led the Depositors Depositor to select the Failed Security for inclusion in the Trust; and (c) be purchased prior to, simultaneously with, or no more than twenty days after delivery of written notice to the Trustee or Depositors, as appropriate, of the failed contract (the "Failed Contract Notice"). Any Substitute Securities received by the Trustee shall be deposited hereunder and shall be subject to the terms and conditions of this Indenture to the same extent as other Securities deposited hereunder. No such deposit of Substitute Securities shall be made after the earlier of (i) 90 days after the date of execution and delivery of the applicable Reference Trust Agreement or (ii) the first Distribution Date to occur after the date of execution and delivery of the applicable Reference Trust Agreement. Whenever a Substitute Security is acquired by the Trust Depositor pursuant to the provisions of this Section 3.7, the Trustee shall, within five days thereafter, mail to all Unitholders Certifi- cateholders notices of such acquisition, including an identification of the Failed Security and the Substitute Security acquired. The purchase price of a Substitute Security shall be paid out of the funds in the Principal Account principal account attributable to the Failed Security which it replaces. The Trustee shall not be liable or responsible in any way for depreciation or loss incurred by reason of any purchase made pursuant to any such instructions from the Depositors Depositor and in the absence of such instructions the Trustee shall have no duty to purchase any Substitute Securities under this Indenture. The Depositors Depositor shall not be liable for any failure to instruct the Trustee to purchase any Substitute Security or for errors of judgment in selecting any Substitute Security.