Common use of Callable Series Clause in Contracts

Callable Series. All Class A Units and Class B Units issued hereby are subject to Call Options and Call Rights granted in favor of Warrantholders. All Class A Units and Class B Units are subject to redemption in the event of a redemption of the Underlying Securities. Any Unitholder who receives notice that its Units are being called or redeemed shall tender the applicable Units to the Trustee in accordance with such notice. Any Units subject to call or redemption shall be automatically canceled, and in the case of a call, shall be automatically re-issued to the applicable Warrantholder without further action by the applicable Unitholder, Warrantholder, Trustee or any other person or entity on the date of redemption or the Call Date, as applicable. Any failure to so tender any Unit shall have no force or effect. Upon exercise of Warrants, the Call Options and Call Rights represented by such Warrants shall be automatically canceled. The certificate representing such Warrants shall be deemed to represent the corresponding Class A Units and Class B Units called by the exercise thereof. The Trustee shall distribute the Trust Property to the Warrantholder as specified in Section 1.2 of Schedule III, and upon such distribution such Class A Units and Class B Units shall be canceled. 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, redemption of the Underlying Securities or otherwise by operation of this Trust Agreement. Cut-off Date: Closing Date Closing Date: March 1, ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇: ▇▇▇▇▇▇ ▇▇▇▇▇▇ dollars Business Day: New York, New York 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. Class A Units: The interest rate on the Class A Units is 7.00% per annum on the basis of a 360 day year consisting of twelve 30 day months. Class B Payments: $44.66 ($164,813 / 3,690 Class B Units) is expected to be paid on each Class B Unit on each distribution date thereafter, in each case from interest received on the underlying securities.

Callable Series. All Class A Units and Class B Units issued hereby are subject to Call Options and Call Rights granted in favor of Warrantholders. All Class A Units and Class B Units are subject to redemption in the event of a redemption of the Underlying Securities. Any Unitholder who receives notice that its Units are being called or redeemed shall tender the applicable Units to the Trustee in accordance with such notice. Any Units subject to call or redemption shall be automatically canceled, and in the case of a call, shall be automatically re-issued to the applicable Warrantholder without further action by the applicable Unitholder, Warrantholder, Trustee or any other person or entity on the date of redemption or the Call Date, as applicable. Any failure to so tender any Unit shall have no force or effect. Upon exercise of Warrants, the Call Options and Call Rights represented by such Warrants shall be automatically canceled. The certificate representing such Warrants shall be deemed to represent the corresponding Class A Units and Class B Units called by the exercise thereof. The Trustee shall distribute the Trust Property to the Warrantholder as specified in Section 1.2 of Schedule III, and upon such distribution such Class A Units and Class B Units shall be canceled. First Regular Call Date: As defined in Schedule SchedMule 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, redemption of the Underlying Securities Warrants or otherwise by operation of this Trust Agreement. Cut-off Date: Closing Date Closing Date: March 1February 28, ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇: ▇▇▇▇▇▇ ▇▇▇▇▇▇ dollars Business Day: New York, New York 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. Class A Units: The interest rate on the Class A Units is 7.00% per annum on the basis of a 360 day year consisting of twelve 30 day months. Class B Payments: On May 15, 2006, $44.66 17.9225 ($164,813 39,268.23 / 3,690 2,191 Class B Units) is expected to be paid on each Class B Unit and thereafter $43.014 ($94,243.75 / 2,191 Class B Units) is expected to be paid on each Class B Unit on each distribution date thereafter, in each case from interest received on the underlying securities.