First Regular Call Date definition

First Regular Call Date. As defined in Schedule III. Minimum Denomination: Class A Units: $25 and $25 increments in excess thereof. Each $25 of Unit Principal Balance is a Unit. Class B Units: $1,000 Initial Notional Amortizing Balance and $0.01 (one cent) Initial Notional Amortizing Balance in excess thereof. The Minimum Denominations shall not prevent transfers of fractional Units if such fractional Units arise due to exercises of the Warrants, redemptions of the Underlying Securities or otherwise by operation of this Trust Agreement.

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First Regular Call Date. As defined in Schedule III. Minimum Denomination: Class A Units: $25 and $25 increments in excess thereof. Each $25 of Unit Principal Balance is a Unit. Class B Units: $1,000 Initial Notional Amortizing Balance and $0.01 (one cent) Initial Notional Amortizing Balance in excess thereof. The Minimum Denominations shall not prevent transfers of fractional Units if such fractional Units arise due to exercises of the Warrants, redemptions of the Underlying Securities or otherwise by operation of this Trust Agreement. Cut-off Date: Closing Date Closing Date: April 15, 2004 Specified Currency: United States dolla▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇: ▇▇▇ ▇▇▇▇, ▇▇▇ ▇ork and Chicago, Illinois Interest Rate and Class B Payments: The right of the Class A Units to accrued interest is pari passu with the right of the Class B Units to accrued Class B Payments from accrued interest on the Underlying Securities.

First Regular Call Date. As defined in Schedule III. Minimum Denomination: Class A Units: $25 and $25 increments in excess thereof. Each $25 of Unit Principal Balance is a Unit. Class B Units: $1,000 Notional Amount and $1,000 Notional Amount in excess thereof, provided however, that the Class B Units may only be transferred in minimum denominations of $250,000 Notional Amount and $1,000 Notional Amount in excess thereof except in connection with (i) an exercise of the Warrants, (ii) a transfer to a transferee who will own, after giving effect to such transfer and any other simultaneous transfers, at least $250,000 Notional Amount of Class B Units, or (iii) in connection with a transfer of Warrants if the Notional Amount of Class B Units transferred to the Warrantholder equals the Notional Amount of Call Rights with respect to Class B Units acquired by such Warrantholder. Cut-off Date: Closing Date Closing Date: August 28, 2003 Specified Currency: United States dolla▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇: ▇▇▇ ▇▇▇▇, ▇▇▇ ▇ork and Chicago, Illinois Interest Rate: Class A Units:

Examples of First Regular Call Date in a sentence

• A Warrantholder may designate as a Call Date (i) any Business Day from and including 9:00 a.m. New York time on the First Regular Call Date, to and including 4:00 p.m. New York time on the Expiration Date and (ii) any Business Day prior to the First Regular Call Date as a Call Date, but only if notice of redemption or tender offer has been delivered by the Underlying Security Issuer with regard to the Underlying Securities held by the Trust.

• Each Warrantholder shall specify in its Call Notice if its exercise is in connection with a redemption or tender offer if the specified Call Date will occur on or after the First Regular Call Date.

• Any Warrantholder giving a Call Notice with respect to a Call Date prior to the First Regular Call Date shall be deemed to specify that it is exercising its Warrants in connection with a tender offer or redemption.

• If a Warrantholder exercises Warrants in connection with a tender offer for settlement prior to the First Regular Call Date, each Class A Unit called in connection with such exercise shall receive, in addition to principal and accrued interest, $1.50 per Class A Unit from the proceeds of the Warrant exercise.

• If a Warrantholder exercises Warrants in connection with a tender offer for settlement prior to the First Regular Call Date, each Unit called in connection with such exercise shall receive, in addition to principal and accrued interest, $1.50 per Unit from the proceeds of the Warrant exercise.

• The Call Price per Warrant is the sum of (i)(a) $1,000 (corresponding to 40 $25.00 Units) or (b) if such exercise is in connection with a tender offer for Underlying Securities held by the Trust for settlement prior to the First Regular Call Date, $1,060 ($26.50 per Unit), (ii) accrued and unpaid interest on the applicable Units through the related Call Date and (iii) the applicable Expense Administrator Make-Whole Amount.

• If the Exercise Date occurring in connection with such Trust Wind-Up Event occurs prior to the First Regular Call Date and occurs in connection with a tender offer for the Underlying Securities, the Class A Units will also receive an Additional Distribution of $1.50 per Class A Unit.

• Class A Units: If a Warrantholder exercises Warrants in connection with a tender offer for settlement prior to the First Regular Call Date, each Class A Unit called in connection with such exercise shall receive, in addition to principal and accrued interest, $1.50 per Class A Unit from the proceeds of the Warrant exercise.

More Definitions of First Regular Call Date

First Regular Call Date. As defined in Schedule III. Minimum Denomination: Class A Units: $25 and $25 increments in excess thereof. Each $25 of Unit Principal Balance is a Unit. Class B Units: $1,000 Notional Amount and $1,000 Notional Amount in excess thereof, provided however, that the Class B Units may only be transferred in minimum denominations of $250,000 except in connection with an exercise of the Warrants. Cut-off Date: Closing Date Closing Date: June 5, 2003 Specified Currency: ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇: New York, New York and Chicago, Illinois Interest Rate: Class A Units:

First Regular Call Date. As defined in Schedule III. Minimum Denomination: Class A Units: $25 and $25 increments in excess thereof. Each $25 of Unit Principal Balance is a Unit. Class B Units: $1,000 Notional Amount and $1,000 Notional Amount in excess thereof. The Minimum Denominations shall not prevent transfers of fractional Units if such fractional Units arise due to exercises of the Warrants, redemptions of the Underlying Securities or otherwise by operation of this Trust Agreement. Cut-off Date: Closing Date Closing Date: October 29, 2003 Specified Currency: United States dolla▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇: ▇▇▇ ▇▇▇▇, ▇▇▇ ▇ork and Chicago, Illinois Interest Rate: The right of the Class A Units to accrued interest is pari passu with the right of the Class B Units to accrued interest from accrued interest on the Underlying Securities. Class A Units:

First Regular Call Date. As defined in Schedule III. Minimum Denomination: Class A Units: $25 and $25 increments in excess thereof. Each $25 of Unit Principal Balance is a Unit. Class B Units: $250,000 Initial Notional Amortizing Balance and $0.01 (one cent) Initial Notional Amortizing Balance in excess thereof; provided, however, the minimum denomination shall not apply to the following: (1) any exercise of Warrants, (ii) a transfer to a transferee who will own, after giving effect to simultaneous transfers, at least $250,000 Initial Notional Amortizing Balance of Class B Units or (iii) in connection with a transfer of Warrants if the Initial Notional Amortizing Balance of Class B Units transferred to the Warrantholder corresponds to the Applicable Class B Equivalent Amount. The Minimum Denominations shall not prevent transfers of fractional Units if such fractional Units arise due to exercises of the Warrants, redemptions of the Underlying Securities or otherwise by operation of this Trust Agreement. The Depositor may waive the Minimum Denomination at any time in its discretion. Cut-off Date: Closing Date Closing Date: November 25, 2003 Specified Currency: ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇: New York, New York and Chicago, Illinois

First Regular Call Date. As defined in Schedule III. Minimum Denomination: Class A Units: $25 and $25 increments in excess thereof. Each $25 of Unit Principal Balance is a Unit. Class B Units: $1,000 Notional Amount and $1,000 Notional Amount in excess thereof. The Minimum Denominations shall not prevent transfers of fractional Units if such fractional Units arise due to exercises of the Warrants, redemptions of the Underlying Securities or otherwise by operation of this Trust Agreement. Cut-off Date: Closing Date Closing Date: September 30, 2003 Specified Currency: United States dolla▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇: ▇▇▇ ▇▇▇▇, ▇▇▇ ▇ork and Chicago, Illinois Interest Rate: The right of the Class A Units to accrued interest is pari passu with the right of the Class B Units to accrued interest from accrued interest on the Underlying Securities. Class A Units: Initially, 6.875% per annum on the basis of a 360 day year consisting of twelve 30 day months. Except with respect to November 15, 2003, the interest rate payable on the Class A Units will be increased by 0.20% for each rating notch downgrade of the Underlying Securities by either Moody's or S&P and decrea▇▇▇ ▇▇ 0.20% for each rating notch upgrade of the Underlying Securities by either Moody's or S&P, but in no event will the interest rate be reduced below 6.275%. Any such interest rate increase or decrease will take effect from the interest payment period beginning immediately after the first interest rate payment date following the related rating downgrade or upgrade, as the case may be. There is no limit to the number of times the interest rate payable on the Class A Units can be adjusted. The interest rate on the Underlying Securities is expected to increase to 8.75% on November 15, 2003, and if so, no adjustment to the interest rate on the Class A Units will occur. The initial interest rate on the Class A Units of 6.875% is currently set to correspond to an interest rate of 8.75% on the Underlying Securities and already takes into account the recent rating change of the Underlying Securities. Any other changes in the rating of the Underlying Securities from the Closing Date to November 15, 2003 may result in adjustment of the interest rate on the Class A Units. Class B Units: Initially, 1.844% per annum on the basis of a 360 day year consisting of twelve 30 day months. Except with respect to November 15, 2003, the interest rate payable on the Class B Units will be increased by 0.05% for each rating notch downgrade of the Underlying Securit...

First Regular Call Date. As defined in Schedule III. Minimum Denomination: $25 and $25 increments in excess thereof. Each $25 of Unit Principal Balance is a Unit. Cut-off Date: Closing Date Closing Date: July 24, 2003 Specified Currency: United States dolla▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇: ▇▇▇ ▇▇▇▇, ▇▇▇ ▇ork and Chicago, Illinois Interest Rate: 7.75% per annum on the basis of a 360 day year consisting of twelve 30 day months.