Common use of Up Events Priority Clause in Contracts

Up Events Priority. On any Distribution Date occurring in connection with a Trust Wind-Up Event due to an event or events other than an exercise of Warrants or a redemption of Underlying Securities (or to the extent thereof), the Trustee shall apply amounts available (excluding the amounts allocable to the aggregate Corresponding Underlying Security Amount related to any exercise of Warrants provided for above or the amounts distributable in connection with a redemption as provided for above): FIRST, to the payment of the claims of the Class A Units and the Class B Units pro rata in proportion to the relative claim amounts of each, and for this purpose the Class A Units will have a claim equal to their Unit Principal Balance plus accrued and unpaid interest, if any and the Class B Units will have a claim equal to the Class B Present Value Amount determined as of the date of termination, in full satisfaction of the claims of the Class A Units and the Class B Units, SECOND, to the payment of any accrued and unpaid Expense Administrator's Fee, and THIRD, any remaining amounts are paid to the Warrantholders, as payment of any Warrant Termination Payment.