Common use of SUBSTITUTION OF UNITS Clause in Contracts

SUBSTITUTION OF UNITS. A Holder may separate the Debentures from the related Purchase Contracts in respect of a Corporate Unit by substituting for such Debentures Treasury Securities in an aggregate principal amount equal to the aggregate principal amount at maturity of such Debentures (a "Collateral Substitution"), at any time from and after the date of this Agreement and on or prior to the seventh Business Day immediately preceding the Purchase Contract Settlement Date by (a) depositing with the Securities Intermediary Treasury Securities having an aggregate principal amount equal to the aggregate principal amount of the Debentures comprising part of such Corporate Unit and (b) transferring the related Corporate Unit to the Agent accompanied by a notice to the Agent, substantially in the form of EXHIBIT C, stating that the Holder has transferred the relevant amount of Treasury Securities to the Securities Intermediary and requesting that the Agent instruct the Collateral Agent to release the Debentures underlying such Corporate Unit, after which the Agent shall promptly give such instruction to the Collateral Agent, substantially in the form of Exhibit A to the Pledge Agreement. Upon receipt of the Treasury Securities described in clause (a) above and the instruction described in clause (b) above, in accordance with the terms of the Pledge Agreement, the Collateral Agent will cause the Securities Intermediary to release to the Agent, on behalf of the Holder, Debentures having a corresponding aggregate principal amount at maturity from the Pledge, free and clear of the Company's security interest, and upon receiving them the Agent shall promptly: (i) cancel the related Corporate Unit; (ii) transfer the Debentures to the Holder; and (iii) authenticate, execute on behalf of such Holder and deliver a Treasury Unit Certificate executed by the Company in accordance with Section 3.3 evidencing the same number of Purchase Contracts as were evidenced by the cancelled Corporate Unit. Holders who elect to separate the Debentures from the related Purchase Contract and to substitute Treasury Securities for such Debentures shall be responsible for any fees or expenses payable to the Collateral Agent for its services as Collateral Agent in respect of the substitution, and neither the Company nor the Agent shall be responsible for any such fees or expenses. Holders may make Collateral Substitutions only in integral multiples of 5000 Corporate Units for 13 Treasury Units. If a Holder making a Collateral Substitution pursuant to this Section 3.13 fails to effect a book-entry transfer of the Corporate Unit or fails to deliver a Corporate Unit Certificate(s) to the Agent after depositing Treasury Securities with the Collateral Agent, the Debentures constituting a part of such Corporate Unit shall be held in the name of the Agent or its nominee in trust for the benefit of such Holder, until such Corporate Unit is so transferred or the Corporate Unit Certificate is so delivered, as the case may be, or, with respect to a Corporate Unit Certificate, such Holder provides evidence satisfactory to the Company and the Agent that such Corporate Unit Certificate has been destroyed, lost or stolen, together with any indemnity that may be required by the Agent and the Company. Except as described in this Section 3.13, for so long as the Purchase Contract underlying a Corporate Unit remains in effect, such Corporate Unit shall not be separable into its constituent parts, and the rights and obligations of the Holder in respect of the Debentures and the Purchase Contract comprising such Corporate Unit may be acquired, and may be transferred and exchanged, only as a Corporate Unit.

SUBSTITUTION OF UNITS. A Holder may separate the Debentures from the related Purchase Contracts in respect of a Corporate Unit by substituting for such Debentures Treasury Securities in an aggregate principal amount equal to the aggregate principal amount at maturity of such Debentures (a "Collateral SubstitutionCOLLATERAL SUBSTITUTION"), at any time from and after the date of this Agreement and on or prior to the seventh Business Day immediately preceding the Purchase Contract Settlement Date by (a) depositing with the Securities Intermediary Treasury Securities having an aggregate principal amount equal to the aggregate principal amount of the Debentures comprising part of such Corporate Unit Unit, and (b) transferring the related Corporate Unit to the Agent accompanied by a notice to the Agent, substantially in the form of EXHIBIT C, stating that the Holder has transferred the relevant amount of Treasury Securities to the Securities Intermediary and requesting that the Agent instruct the Collateral Agent to release the Debentures underlying such Corporate Unit, after which the Agent shall promptly give such instruction to the Collateral Agent, substantially in the form of Exhibit A to the Pledge Agreement. Upon receipt of the Treasury Securities described in clause (a) above and the instruction described in clause (b) above, in accordance with the terms of the Pledge Agreement, the Collateral Agent will cause the Securities Intermediary to release to the Agent, on behalf of the Holder, Debentures having a corresponding aggregate principal amount at maturity maturity, from the Pledge, free and clear of the Company's security interest, and upon receiving them the Agent shall promptly: (i) cancel the related Corporate Unit; (ii) transfer the Debentures to the Holder; and (iii) authenticate, execute on behalf of such Holder and deliver a Treasury Unit Certificate executed by the Company in accordance with Section 3.3 evidencing the same number of Purchase Contracts as were evidenced by the cancelled Corporate Unit. Holders who elect to separate the Debentures from the related Purchase Contract and to substitute Treasury Securities for such Debentures shall be responsible for any fees or expenses payable to the Collateral Agent for its services as Collateral Agent in respect of the substitution, and neither the Company nor the Agent shall not be responsible for any such fees or expenses. Holders may make Collateral Substitutions only in integral multiples of 5000 [5000] Corporate Units for 13 Treasury Units. If a Holder making a Collateral Substitution pursuant to this Section 3.13 fails to effect a book-entry transfer of the Corporate Unit or fails to deliver a Corporate Unit Certificate(s) to the Agent after depositing Treasury Securities with the Collateral Agent, the Debentures constituting a part of such Corporate Unit shall be held in the name of the Agent or its nominee in trust for the benefit of such Holder, until such Corporate Unit is so transferred or the Corporate Unit Certificate is so delivered, as the case may be, or, with respect to a Corporate Unit Certificate, such Holder provides evidence satisfactory to the Company and the Agent that such Corporate Unit Certificate has been destroyed, lost or stolen, together with any indemnity that may be required by the Agent and the Company. Except as described in this Section 3.13, for so long as the Purchase Contract underlying a Corporate Unit remains in effect, such Corporate Unit shall not be separable into its constituent parts, and the rights and obligations of the Holder in respect of the Debentures and the Purchase Contract comprising such Corporate Unit may be acquired, and may be transferred and exchanged, only as a Corporate Unit.