Ordinary Distribution Date Priority definition

Ordinary Distribution Date Priority. On any Distribution Date as to which only payments of interest on the Underlying Securities have been received, or to the extent such Distribution Date occurs due to receipt of payments of interest on the Underlying Securities, the Trustee shall apply amounts available: FIRST, to the payment of any accrued and unpaid interest on the Class A Units and any accrued and unpaid Class B Payments pro rata in proportion to the outstanding amount of accrued and unpaid interest and unpaid payments on each, and SECOND, to the payment of any accrued and unpaid Expense Administrator's Fee.

Ordinary Distribution Date Priority. On any Distribution Date as to which only payments of interest on the Underlying Securities have been received, or to the extent such Distribution Date occurs due to receipt of payments of interest on the Underlying Securities, the Trustee shall apply amounts available: FIRST, to the payment of accrued and unpaid interest on the Class A Units and the Class B Units pro rata in proportion to the outstanding amount of accrued and unpaid interest on each, and SECOND, to the payment of any accrued and unpaid Expense Administrator's Fee.

Ordinary Distribution Date Priority. On any Distribution Date as to which only payments of interest on the Underlying Securities have been received, or to the extent such Distribution Date occurs due to receipt of payments of interest on the Underlying Securities, the Trustee shall apply amounts available: FIRST, to the payment of any accrued and unpaid interest on the Units, and SECOND, to the payment of any accrued and unpaid Expense Administrator’s Fee. Exercise of Warrants Priority: On any Distribution Date occurring in connection with an exercise of the Warrants, or to the extent such Distribution Date occurs due to the exercise of Warrants, whether in whole or in part, whether or not such exercise results in a Trust Wind-Up Event, the Trustee shall apply amounts available in connection with such exercise (corresponding to the amounts allocable to the aggregate Corresponding Underlying Security Amount related to such exercise): FIRST, to the payment of any accrued and unpaid interest on the Units, SECOND, to the payment of the outstanding principal on the Units being called, THIRD, to the payment of $1.50 on each Unit called as an Additional Distribution, if the related Call Date occurs prior to the First Regular Call Date and occurs in connection with a tender offer for the Underlying Securities, FOURTH, to the payment of any accrued and unpaid Expense Administrator’s Fee, including the Expense Administrator Make-Whole Amount, if any, and FIFTH, to the exercising Warrantholders, to the extent such Warrantholders specified or were deemed to specify that their exercise was in connection with a redemption of or a tender offer for the Underlying Securities. If any exercise of Warrants would result in the Trust not having sufficient funds to pay each of items FIRST through FOURTH in full, notwithstanding any other provision in this Trust Agreement (including the Additional Warrants Terms on Schedule III) or the Warrants, such exercise will be rescinded pursuant to Section 1.1(h) or Section 1.1(i) of Schedule III.