Common use of Assumption and Substitution Clause in Contracts

Assumption and Substitution. UBS Americas hereby assumes, as of the Effective Time, the due and punctual payment of the principal of (and premium, if any) and interest on all the Securities and the performance of every covenant of the Indenture on the part of the Company to be performed or observed. UBS Americas hereby succeeds to, and is substituted for, the Company in the Indenture, as of the Effective Time.

Assumption and Substitution. UBS Americas hereby assumes, as of the Effective Time, the due and punctual payment of the principal of (and premium, if any) and interest on all the Securities Debentures and the performance of every covenant of the Indenture on the part of the Company to be performed or observed. UBS Americas hereby succeeds to, and is substituted for, the Company in the Indenture, as of the Effective Time.