Common use of Trust Fund Evaluation Clause in Contracts

Trust Fund Evaluation. The Trustee shall make an evaluation of the Trust Fund as of the Evaluation Time (i) on each Business Day on which any Unit is tendered for redemption if prior to the Evaluation Time that day, otherwise on the following Business Day, (ii) on each Business Day during the initial offering period, and (iii) on any other day desired by the Trustee or requested by the Depositors. Such evaluations shall take into account and itemize separately (1) the cash on hand in the Trust Fund (other than cash declared held specially for purchase of Contract Bonds under Section 3.14 hereof or cash credited to the Reserve Account) or moneys in the process of being collected from matured interest coupons or bonds matured or called for redemption prior to maturity, (2) the value of each issue of the Bonds (including Contract Bonds) on the bid side of the market as determined by the Evaluator pursuant to Section 4.1, and (3) interest accrued thereon not subject to collection and distribution. For each such evaluation there shall be deducted from the sum of the above (i) amounts representing any applicable taxes or governmental charges payable out of the Trust Fund and for which no deductions shall have previously been made for the purpose of addition to the Reserve Account, (ii) amounts representing accrued expenses of the Trust Fund including but not limited to unpaid fees and expenses of the Trustee, the Evaluator and bond counsel and those relating to the annual audit, in each case as reported by the Trustee to the Evaluator on or prior to the date of evaluation, and (iii) cash held for distribution to Certificateholders of record as of a date prior to the evaluation then being made. The value of the pro rata share of each Unit determined on the basis of any such evaluation shall be referred to herein as the "Unit Value," and shall be effective as to (i) all orders received by the Sponsors for the purchase or sale of Units and (ii) all Units received by the Trustee for redemption prior to the Evaluation Time utilized but subsequent to the preceding evaluation. The Trustee shall make an evaluation of the Bonds deposited in the Fund as of the time said Bonds are deposited under this Indenture. Such evaluation shall be made on the same basis as set forth in Section 4.1, except that it shall be based upon the offering prices of said Bonds and upon the bid prices of the Trust Units. The Trustee, in lieu of making the evaluation required hereby, may use an evaluation prepared by the Evaluator and in so doing shall not be liable or responsible under any circumstances whatever for the accuracy or correctness thereof or for any error or omission therein. The Trustee's determination of the offering price of the Bonds on the date of deposit determined as herein provided shall be included in Schedule A.

Trust Fund Evaluation. The Trustee shall make an evaluation of the Trust Fund as of the Evaluation Time (i) on each Business Day on which any Unit is tendered for redemption if prior to the Evaluation Time that day, otherwise on the following Business Day, (ii) on each Business Day during the initial offering period, and (iii) on any other day desired by the Trustee or requested by the DepositorsDepositor. Such evaluations shall take into account and itemize separately (1) the cash on hand in the Trust Fund (other than cash declared held specially for purchase of Contract Bonds under Section 3.14 hereof or cash credited to the Reserve Account) or moneys in the process of being collected from matured interest coupons or bonds matured or called for redemption prior to maturity, (2) the value of each issue of the Bonds (including Contract Bonds) on the bid side of the market as determined by the Evaluator pursuant to Section 4.1, and (3) interest accrued thereon not subject to collection and distribution, and (4) amounts representing organizational expenses paid less amounts representing accrued organizational expenses of the Trust. For each such evaluation there shall be deducted from the sum of the above (i) amounts representing any applicable taxes or governmental charges payable out of the Trust Fund and for which no deductions shall have previously been made for the purpose of addition to the Reserve Account, (ii) amounts representing accrued expenses of the Trust Fund including but not limited to unpaid fees and expenses of the Trustee, the Evaluator and bond counsel and those relating to the annual audit, in each case as reported by the Trustee to the Evaluator on or prior to the date of evaluation, and (iii) cash held for distribution to Certificateholders of record as of a date prior to the evaluation then being made. The value of the pro rata share of each Unit determined on the basis of any such evaluation shall be referred to herein as the "Unit Value," and shall be effective as to (i) all orders received by the Sponsors for the purchase or sale of Units and (ii) all Units received by the Trustee for redemption prior to the Evaluation Time utilized but subsequent to the preceding evaluation. The Trustee shall make an evaluation of the Bonds deposited in the Fund as of the time said Bonds are deposited under this Indenture. Such evaluation shall be made on the same basis as set forth in Section 4.1, except that it shall be based upon the offering prices of said Bonds and upon the bid prices of the Trust Units. The Trustee, in lieu of making the evaluation required hereby, may use an evaluation prepared by the Evaluator and in so doing shall not be liable or responsible under any circumstances whatever for the accuracy or correctness thereof or for any error or omission therein. The Trustee's determination of the offering price of the Bonds on the date of deposit determined as herein provided shall be included in Schedule A.

Trust Fund Evaluation. The Trustee shall make an evaluation of the Trust Fund as of the Evaluation Time (i) on each Business Day on which any Unit is tendered for redemption if prior to the Evaluation Time that day, otherwise on the following Business Day, (ii) on each Business Day during the initial offering period, and (iii) on any other day desired by the Trustee or requested by the DepositorsDepositor. Such evaluations shall take into account and itemize separately (1) the cash on hand in the Trust Fund (other than cash declared held specially for purchase of Contract Bonds under Section 3.14 3.15 hereof or cash credited to the Reserve Account) or moneys in the process of being collected from matured interest coupons or bonds matured or called for redemption prior to maturity, (2) the value of each issue of the Bonds (including Contract Bonds) on the bid side of the market as determined by the Evaluator pursuant to Section 4.1, and (3) interest accrued thereon not subject to collection and distribution. For each such evaluation there shall be deducted from the sum of the above (i) amounts representing any applicable taxes or governmental charges payable out of the Trust Fund and for which no deductions shall have previously been made for the purpose of addition to the Reserve Account, (ii) amounts representing accrued expenses of the Trust Fund including but not limited to unpaid fees and expenses of the Trustee, the Evaluator and bond counsel and those relating to the annual audit, in each case as reported by the Trustee to the Evaluator on or prior to the date of evaluation, and (iii) cash held for distribution to Certificateholders of record as of a date prior to the evaluation then being made. The value of the pro rata share of each Unit determined on the basis of any such evaluation shall be referred to herein as the "Unit Value," and shall be effective as to (i) all orders received by the Sponsors for the purchase or sale of Units and (ii) all Units received by the Trustee for redemption prior to the Evaluation Time utilized but subsequent to the preceding evaluation. The Trustee shall make an evaluation of the Bonds deposited in the Fund as of the time said Bonds are deposited under this Indenture. Such evaluation shall be made on the same basis as set forth in Section 4.1, except that it shall be based upon the offering prices of said Bonds and upon the bid prices of the Trust Units. The Trustee, in lieu of making the evaluation required hereby, may use an evaluation prepared by the Evaluator and in so doing shall not be liable or responsible under any circumstances whatever for the accuracy or correctness thereof or for any error or omission therein. The Trustee's determination of the offering price of the Bonds on the date of deposit determined as herein provided shall be included in Schedule A.

Trust Fund Evaluation. The Trustee shall make an evaluation of the Trust Fund as of the Evaluation Time (ia) on each Business Day on which any Unit is tendered for redemption if prior to the Evaluation Time that day, otherwise on the following Business Day, (iib) on each Business Day during after the initial public offering period, and (iiic) on any other day desired by the Trustee or requested by the DepositorsDepositor. Such evaluations shall take into account and itemize separately (1i) the cash on hand in the Trust Fund (other than cash declared held specially specifically for purchase of Contract Bonds under Section 3.14 hereof or cash credited to the Reserve Accounthereof) or moneys in the process of being collected from matured interest coupons or bonds matured or called for redemption prior to maturity, (2ii) the value of each issue of the Bonds (including Contract Bonds) on the bid side of the market as determined by the Evaluator pursuant to Section 4.14.01, and (3iii) interest accrued thereon not subject to collection and distribution. For each such evaluation there shall be deducted from the sum of the above (iA) amounts representing any applicable taxes or governmental charges payable out of the Trust Fund and for which no deductions shall have previously been made for the purpose of addition to the Reserve Account, (iiB) amounts representing accrued expenses of the Trust Fund Fund, including but not limited to unpaid fees and expenses of the Trustee, the Sponsor, the Evaluator and bond counsel and those relating to the annual auditcounsel, in each case as reported by the Trustee to the Evaluator on or prior to the date of evaluation, and (iiiC) cash held for distribution to Certificateholders of record as of a date prior to the evaluation then being made. The value of the pro rata share of each Unit determined on the basis of any such evaluation shall be referred to herein as evaluation, the "Unit Value," and , shall be effective as to (i1) all orders received by the Sponsors Depositor for the purchase or sale of Units and (ii2) all Units received by the Trustee for redemption prior to the Evaluation Time utilized but subsequent to the preceding evaluation. The Trustee shall make an evaluation of the Bonds deposited in the Fund as of the time said Bonds are deposited under this Indenture. Such evaluation shall be made on the same basis as set forth in Section 4.1, except that it shall be based upon the offering prices of said Bonds and upon the bid prices of the Trust Units. The Trustee, in lieu of making the evaluation required hereby, may use an evaluation prepared by the Evaluator and in so doing shall not be liable or responsible under any circumstances whatever for the accuracy or correctness thereof or for any error or omission therein. The Trustee's determination of the offering price of the Bonds on the date of deposit determined as herein provided shall be included in Schedule A..