Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates Trust, Series 199[__]-[SERIES DESIGNATION]", the Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Certificates, Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Call Warrant". (b) The Certificates shall be held through the Depository in book- entry form and shall be substantially in the form attached hereto as Exhibit B. The Certificates shall be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness. (c) The Retained Interest will be uncertificated and shall be as described in Schedule II attached hereto. The Retained Interest will be issued to the Depositor and may be transferred by the Depositor to another party at the sole option of the Depositor without the consent of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments will be made on the Retained Interest by wire transfer to the account(s) of holder(s) thereof on the related Record Date as specified in written instructions to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder of the Retained Interest without the consent of the holder of the Retained Interest.
Appears in 4 contracts
Sources: Series Supplement (Elmwood Funding LTD), Trust Agreement (Elmwood Funding LTD), Series Supplement (Elmwood Funding LTD)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates Trust, PPLUS Trust Series 199[__]-[SERIES DESIGNATION]", the HTZ-1. The Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Certificates, Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "PPLUS 8.15% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Retained Interest" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Call Warrant"HTZ-1.
(b) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. The Certificates shall be issued in minimum authorized denominations of $1,000 25 and integral multiples of $1,000 in excess thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness; provided, however, from time to time, upon obtaining prior written confirmation by each Rating Agency that such action will not result in a downgrading or withdrawal of its rating of the Certificates, the Depositor may, without the consent of the Certificateholders, increase the amount of the Underlying Securities in the Trust and the Trust may issue a corresponding amount of additional Certificates in accordance with Section 5.12(a) of the Standard Terms except that clauses (v), (vi) and (vii) of Section 5.12(a) shall not apply to this Series and a corresponding number of additional Warrants in accordance with Article I of the Warrant Agreement.
(c) The Retained Interest will be uncertificated and shall be as described in Schedule II attached hereto. The Retained Interest will be issued to the Depositor and may be transferred by the Depositor to another party at the sole option of the Depositor without the consent of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments commencing on July 15, 2003 and ending on the Final Scheduled Distribution Date or such earlier date if the Underlying Securities are redeemed prior to the Final Scheduled Distribution Date, the Certificates will be made entitled to receive distributions at a rate of 8.15% per annum on the Retained Interest by wire transfer stated amount of the Certificates.
(d) On the Final Scheduled Distribution Date, the Certificates will be entitled to a distribution of the aggregate principal amount of such Underlying Securities.
(e) Any reference to the account(s) principal amount of holder(s) thereof on the related Record Date Certificates shall be construed as specified in written instructions a reference to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder stated amount of the Retained Interest without the consent of the holder of the Retained InterestCertificates, unless otherwise indicated.
Appears in 3 contracts
Sources: Trust Supplement (Merrill Lynch Depositor Inc Pplus Trust Series HTZ-1), Series Supplement (Merrill Lynch Depositor Inc Pplus Trust Series HTZ-1), Trust Supplement (Merrill Lynch Depositor Inc Pplus Trust Series HTZ-1)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] PREFERREDPLUS Trust Series VER-1". The Class A Certificates Trust, Series 199[__]-[SERIES DESIGNATION]", the and Class B Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Certificates, Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "PREFERREDPLUS Class A 7.625% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Retained InterestVER-1" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "PREFERREDPLUS Class B 0.125% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Call Warrant"VER-1," respectively.
(b) The Class A Certificates and Class B Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. Exhibits B and C, respectively. The Class A Certificates shall be issued in minimum authorized denominations of $1,000 25 and integral multiples thereof and the Class B Certificates shall be issued with a notional principal amount of $1,000 in excess 25 and integral multiples thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness; provided, however, from time to time, upon obtaining prior written confirmation by each Rating Agency that such action will not result in a downgrading or withdrawal of its rating of the Certificates, the Depositor may, without the consent of the Certificateholders, increase the amount of the Underlying Securities in the Trust and the Trust may issue a corresponding amount of additional Certificates in accordance with Section 5.12(a) of the Standard Terms except that clauses (v), (vi) and (vii) of Section 5.12(a) shall not apply to this Series and a corresponding number of additional Warrants in accordance with Article I of the Warrant Agreement.
(c) The Retained Interest Class A Certificates will be uncertificated entitled to receive (i) on each Distribution Date, commencing on December 1, 2002 and shall be as described in Schedule II attached hereto. The Retained Interest will be issued ending on the Final Scheduled Distribution Date, or such earlier date if the Underlying Securities are redeemed prior to the Depositor and may be transferred by Final Scheduled Distribution Date, distributions at a rate of 7.625% per annum on the Depositor to another party at the sole option stated amount of the Depositor without Class A Certificates and (ii) on the consent Final Scheduled Distribution Date, a distribution of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records aggregate principal amount of the Trustee. Underlying Securities.
(d) On each Distribution Date, payments the Class B Certificates will be made on entitled to receive a distribution of 0.125% per annum multiplied by the Retained Interest by wire transfer notional principal amount of the Class B Certificates (the "Class B Payments").
(e) Any reference to the account(s) principal amount of holder(s) thereof on the related Record Date Certificates shall be construed as specified in written instructions a reference to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder stated amount of the Retained Interest without Class A Certificates and/or the consent notional principal amount of the holder of the Retained InterestClass B Certificates, unless otherwise indicated.
Appears in 3 contracts
Sources: Trust Supplement (Merrill Lynch Depositor Inc Preferredplus Trust Series Ver-1), Trust Agreement (Merrill Lynch Depositor Inc Preferredplus Trust Series Ver-1), Trust Supplement (Merrill Lynch Depositor Inc Preferredplus Trust Series Ver-1)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] PPLUS Trust Series CMT-1". The Class A Certificates Trust, Series 199[__]-[SERIES DESIGNATION]", the and Class B Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Certificates, Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "PPLUS Class A 6.25% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Retained InterestCMT-1" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "PPLUS Class B 0.80% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Call Warrant"CMT-1," respectively.
(b) The Class A Certificates and Class B Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. Exhibits B and C, respectively. The Class A Certificates shall be issued in minimum authorized denominations of $1,000 25.00 and integral multiples thereof and the Class B Certificates shall be issued with a notional principal amount of $1,000 in excess 25.00 and integral multiples thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness; provided, however, from time to time, upon obtaining prior written confirmation by each Rating Agency that such action will not result in a downgrading or withdrawal of its rating of the Certificates, the Depositor may, without the consent of the Certificateholders, increase the amount of the Underlying Securities in the Trust and the Trust may issue a corresponding amount of additional Certificates in accordance with Section 5.12(a) of the Standard Terms except that clauses (v), (vi) and (vii) of Section 5.12(a) shall not apply to this Series and a corresponding number of additional Warrants in accordance with Article I of the Warrant Agreement.
(c) The Retained Interest Class A Certificates will be uncertificated entitled to receive (i) on each Distribution Date, commencing on September 15, 2004 and shall be as described in Schedule II attached hereto. The Retained Interest will be issued ending on the Final Scheduled Distribution Date, or such earlier date if the Underlying Securities are redeemed prior to the Depositor and may be transferred by Final Scheduled Distribution Date, distributions at a rate of 6.25% per annum on the Depositor to another party at the sole option stated amount of the Depositor without Class A Certificates and (ii) on the consent Final Scheduled Distribution Date, a distribution of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records aggregate principal amount of the Trustee. Underlying Securities.
(d) On each Distribution Date, payments the Class B Certificates will be made on entitled to receive a distribution of 0.80% per annum multiplied by the Retained Interest by wire transfer notional principal amount of the Class B Certificates (the "Class B Payments").
(e) Any reference to the account(s) principal amount of holder(s) thereof on the related Record Date Certificates shall be construed as specified in written instructions a reference to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder stated amount of the Retained Interest without Class A Certificates and/or the consent notional principal amount of the holder of the Retained InterestClass B Certificates, unless otherwise indicated.
Appears in 3 contracts
Sources: Series Supplement (Merrill Lynch Depositor Inc Pplus Trust Series CMT-1), Series Supplement (Merrill Lynch Depositor Inc Pplus Trust Series CMT-1), Trust Supplement (Merrill Lynch Depositor Inc Pplus Trust Series CMT-1)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] PPLUS Trust Series GSC-1". The Class A Certificates Trust, Series 199[__]-[SERIES DESIGNATION]", the and Class B Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Certificates, Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "PPLUS Class A 6.25% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Retained InterestGSC-1" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "PPLUS Class B 0.095% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Call Warrant"GSC-1," respectively.
(b) The Class A Certificates and Class B Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. Exhibits B and C, respectively. The Class A Certificates shall be issued in minimum authorized denominations of $1,000 25 and integral multiples thereof and the Class B Certificates shall be issued with a notional principal amount of $1,000 in excess 25 and integral multiples thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness; provided, however, from time to time, upon obtaining prior written confirmation by each Rating Agency that such action will not result in a downgrading or withdrawal of its rating of the Certificates, the Depositor may, without the consent of the Certificateholders, increase the amount of the Underlying Securities in the Trust and the Trust may issue a corresponding amount of additional Certificates in accordance with Section 5.12(a) of the Standard Terms except that clauses (v), (vi) and (vii) of Section 5.12(a) shall not apply to this Series and a corresponding number of additional Warrants in accordance with Article I of the Warrant Agreement.
(c) The Retained Interest Class A Certificates will be uncertificated entitled to receive (i) on each Distribution Date, commencing on August 15, 2004 and shall be as described in Schedule II attached hereto. The Retained Interest will be issued ending on the Final Scheduled Distribution Date, or such earlier date if the Underlying Securities are redeemed prior to the Depositor and may be transferred by Final Scheduled Distribution Date, distributions at a rate of 6.25% per annum on the Depositor to another party at the sole option stated amount of the Depositor without Class A Certificates and (ii) on the consent Final Scheduled Distribution Date, a distribution of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records aggregate principal amount of the Trustee. Underlying Securities.
(d) On each Distribution Date, payments the Class B Certificates will be made on entitled to receive a distribution of 0.095% per annum multiplied by the Retained Interest by wire transfer notional principal amount of the Class B Certificates (the "Class B Payments").
(e) Any reference to the account(s) principal amount of holder(s) thereof on the related Record Date Certificates shall be construed as specified in written instructions a reference to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder stated amount of the Retained Interest without Class A Certificates and/or the consent notional principal amount of the holder of the Retained InterestClass B Certificates, unless otherwise indicated.
Appears in 3 contracts
Sources: Trust Supplement (Merrill Lynch Depositor Inc Pplus Trust Series GSC-1), Series Supplement (Merrill Lynch Depositor Inc Pplus Trust Series GSC-1), Trust Supplement (Merrill Lynch Depositor Inc Pplus Trust Series GSC-1)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] PPLUS Trust Series GSG-1". The Class A Certificates Trust, Series 199[__]-[SERIES DESIGNATION]", the and Class B Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Certificates, Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "PPLUS Class A 6.00% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Retained InterestGSG-1" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "PPLUS Class B 0.125% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Call Warrant"GSG-1," respectively.
(b) The Class A Certificates and Class B Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. Exhibits B and C, respectively. The Class A Certificates shall be issued in minimum authorized denominations of $1,000 25 and integral multiples thereof and the Class B Certificates shall be issued with a notional principal amount of $1,000 in excess 25 and integral multiples thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness; provided, however, from time to time, upon obtaining prior written confirmation by each Rating Agency that such action will not result in a downgrading or withdrawal of its rating of the Certificates, the Depositor may, without the consent of the Certificateholders, increase the amount of the Underlying Securities in the Trust and the Trust may issue a corresponding amount of additional Certificates in accordance with Section 5.12(a) of the Standard Terms except that clauses (v), (vi) and (vii) of Section 5.12(a) shall not apply to this Series and a corresponding number of additional Warrants in accordance with Article I of the Warrant Agreement.
(c) The Retained Interest Class A Certificates will be uncertificated entitled to receive (i) on each Distribution Date, commencing on August 15, 2003 and shall be as described in Schedule II attached hereto. The Retained Interest will be issued ending on the Final Scheduled Distribution Date, or such earlier date if the Underlying Securities are redeemed prior to the Depositor and may be transferred by Final Scheduled Distribution Date, distributions at a rate of 6.00% per annum on the Depositor to another party at the sole option stated amount of the Depositor without Class A Certificates and (ii) on the consent Final Scheduled Distribution Date, a distribution of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records aggregate principal amount of the Trustee. Underlying Securities.
(d) On each Distribution Date, payments the Class B Certificates will be made on entitled to receive a distribution of 0.125% per annum multiplied by the Retained Interest by wire transfer notional principal amount of the Class B Certificates (the "Class B Payments").
(e) Any reference to the account(s) principal amount of holder(s) thereof on the related Record Date Certificates shall be construed as specified in written instructions a reference to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder stated amount of the Retained Interest without Class A Certificates and/or the consent notional principal amount of the holder of the Retained InterestClass B Certificates, unless otherwise indicated.
Appears in 3 contracts
Sources: Series Supplement (Merrill Lynch Depositor Inc Pplus Trust Series GSG 1), Trust Agreement (Merrill Lynch Depositor Inc Pplus Trust Series GSG 1), Series Supplement (Merrill Lynch Depositor Inc Pplus Trust Series GSG 1)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] PPLUS Trust Series VAL-1". The Class A Certificates Trust, Series 199[__]-[SERIES DESIGNATION]", the and Class B Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Certificates, Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "PPLUS Class A 7.25% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Retained InterestVAL-1" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "PPLUS Class B 0.25% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Call Warrant"VAL-1," respectively.
(b) The Class A Certificates and Class B Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. Exhibits B and C, respectively. The Class A Certificates shall be issued in minimum authorized denominations of $1,000 25 and integral multiples thereof and the Class B Certificates shall be issued with a notional principal amount of $1,000 in excess 25 and integral multiples thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness; provided, however, from time to time, upon obtaining prior written confirmation by each Rating Agency that such action will not result in a downgrading or withdrawal of its rating of the Certificates, the Depositor may, without the consent of the Certificateholders, increase the amount of the Underlying Securities in the Trust and the Trust may issue a corresponding amount of additional Certificates in accordance with Section 5.12(a) of the Standard Terms except that clauses (v), (vi) and (vii) of Section 5.12(a) shall not apply to this Series and a corresponding number of additional Warrants in accordance with Article I of the Warrant Agreement.
(c) The Retained Interest Class A Certificates will be uncertificated entitled to receive (i) on each Distribution Date, commencing on April 15, 2003 and shall be as described in Schedule II attached hereto. The Retained Interest will be issued ending on the Final Scheduled Distribution Date, or such earlier date if the Underlying Securities are redeemed prior to the Depositor and may be transferred by Final Scheduled Distribution Date, distributions at a rate of 7.25% per annum on the Depositor to another party at the sole option stated amount of the Depositor without Class A Certificates and (ii) on the consent Final Scheduled Distribution Date, a distribution of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records aggregate principal amount of the Trustee. Underlying Securities.
(d) On each Distribution Date, payments the Class B Certificates will be made on entitled to receive a distribution of 0.25% per annum multiplied by the Retained Interest by wire transfer notional principal amount of the Class B Certificates (the "Class B Payments").
(e) Any reference to the account(s) principal amount of holder(s) thereof on the related Record Date Certificates shall be construed as specified in written instructions a reference to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder stated amount of the Retained Interest without Class A Certificates and/or the consent notional principal amount of the holder of the Retained InterestClass B Certificates, unless otherwise indicated.
Appears in 3 contracts
Sources: Trust Supplement (Merrill Lynch Depositor Inc Pplus Trust Series Val 1), Trust Supplement (Merrill Lynch Depositor Inc Pplus Trust Series Val 1), Trust Supplement (Merrill Lynch Depositor Inc Pplus Trust Series Val 1)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] PPLUS Trust Series DCNA-1". The Class A Certificates Trust, Series 199[__]-[SERIES DESIGNATION]", the and Class B Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Certificates, Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "PPLUS Class A 7.25% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Retained InterestDCNA-1" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "PPLUS Class B 1.25% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Call Warrant"DCNA-1," respectively.
(b) The Class A Certificates and Class B Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. Exhibits B and C, respectively. The Class A Certificates shall be issued in minimum authorized denominations of $1,000 25.00 and integral multiples thereof and the Class B Certificates shall be issued with a notional principal amount of $1,000 in excess 25.00 and integral multiples thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness; provided, however, from time to time, upon obtaining prior written confirmation by each Rating Agency that such action will not result in a downgrading or withdrawal of its rating of the Certificates, the Depositor may, without the consent of the Certificateholders, increase the amount of the Underlying Securities in the Trust and the Trust may issue a corresponding amount of additional Certificates in accordance with Section 5.12(a) of the Standard Terms except that clauses (v), (vi) and (vii) of Section 5.12(a) shall not apply to this Series and a corresponding number of additional Warrants in accordance with Article I of the Warrant Agreement.
(c) The Retained Interest Class A Certificates will be uncertificated entitled to receive (i) on each Distribution Date, commencing on July 18, 2004 and shall be as described in Schedule II attached hereto. The Retained Interest will be issued ending on the Final Scheduled Distribution Date, or such earlier date if the Underlying Securities are redeemed prior to the Depositor and may be transferred by Final Scheduled Distribution Date, distributions at a rate of 7.25% per annum on the Depositor to another party at the sole option stated amount of the Depositor without Class A Certificates and (ii) on the consent Final Scheduled Distribution Date, a distribution of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records aggregate principal amount of the Trustee. Underlying Securities.
(d) On each Distribution Date, payments the Class B Certificates will be made on entitled to receive a distribution of 1.25% per annum multiplied by the Retained Interest by wire transfer notional principal amount of the Class B Certificates (the "Class B Payments").
(e) Any reference to the account(s) principal amount of holder(s) thereof on the related Record Date Certificates shall be construed as specified in written instructions a reference to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder stated amount of the Retained Interest without Class A Certificates and/or the consent notional principal amount of the holder of the Retained InterestClass B Certificates, unless otherwise indicated.
Appears in 3 contracts
Sources: Series Supplement (PPLUS Trust Series DCNA-1), Trust Supplement (PPLUS Trust Series DCNA-1), Trust Supplement (PPLUS Trust Series DCNA-1)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] PPLUS Trust Series DCC-1". The Class A Certificates Trust, Series 199[__]-[SERIES DESIGNATION]", the and Class B Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Certificates, Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "PPLUS Class A 7.00% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Retained InterestDCC-1" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "PPLUS Class B 0.45% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Call Warrant"DCC-1," respectively.
(b) The Class A Certificates and Class B Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. Exhibits B and C, respectively. The Class A Certificates shall be issued in minimum authorized denominations of $1,000 25 and integral multiples thereof and the Class B Certificates shall be issued with a notional principal amount of $1,000 in excess 25 and integral multiples thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness; provided, however, from time to time, upon obtaining prior written confirmation by each Rating Agency that such action will not result in a downgrading or withdrawal of its rating of the Certificates, the Depositor may, without the consent of the Certificateholders, increase the amount of the Underlying Securities in the Trust and the Trust may issue a corresponding amount of additional Certificates in accordance with Section 5.12(a) of the Standard Terms except that clauses (v), (vi) and (vii) of Section 5.12(a) shall not apply to this Series and a corresponding number of additional Warrants in accordance with Article I of the Warrant Agreement.
(c) The Retained Interest Class A Certificates will be uncertificated entitled to receive (i) on each Distribution Date, commencing on September 1, 2003 and shall be as described in Schedule II attached hereto. The Retained Interest will be issued ending on the Final Scheduled Distribution Date, or such earlier date if the Underlying Securities are redeemed prior to the Depositor and may be transferred by Final Scheduled Distribution Date, distributions at a rate of 7.00% per annum on the Depositor to another party at the sole option stated amount of the Depositor without Class A Certificates and (ii) on the consent Final Scheduled Distribution Date, a distribution of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records aggregate principal amount of the Trustee. Underlying Securities.
(d) On each Distribution Date, payments the Class B Certificates will be made on entitled to receive a distribution of 0.45% per annum multiplied by the Retained Interest by wire transfer notional principal amount of the Class B Certificates (the "Class B Payments").
(e) Any reference to the account(s) principal amount of holder(s) thereof on the related Record Date Certificates shall be construed as specified in written instructions a reference to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder stated amount of the Retained Interest without Class A Certificates and/or the consent notional principal amount of the holder of the Retained InterestClass B Certificates, unless otherwise indicated.
Appears in 3 contracts
Sources: Series Supplement (Merrill Lynch Depositor Inc Pplus Trust Series DCC 1), Series Supplement (Merrill Lynch Depositor Inc Pplus Trust Series DCC 1), Series Supplement (Merrill Lynch Depositor Inc Pplus Trust Series DCC 1)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] PREFERREDPLUS Trust Series ALL-1". The Class A Certificates Trust, Series 199[__]-[SERIES DESIGNATION]", the and Class B Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Certificates, Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "PREFERREDPLUS Class A 8.00% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Retained InterestALL-1" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "PREFERREDPLUS Class B 0.207% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Call Warrant"ALL-1," respectively.
(b) The Class A Certificates and Class B Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. Exhibits B and C, respectively. The Class A Certificates shall be issued in minimum authorized denominations of $1,000 25 and integral multiples thereof and the Class B Certificates shall be issued with a notional principal amount of $1,000 in excess 25 and integral multiples thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness; provided, however, from time to time, upon obtaining prior written confirmation by each Rating Agency that such action will not result in a downgrading or withdrawal of its rating of the Certificates, the Depositor may, without the consent of the Certificateholders, increase the amount of the Underlying Securities in the Trust and the Trust may issue a corresponding amount of additional Certificates in accordance with Section 5.12(a) of the Standard Terms except that clauses (v), (vi) and (vii) of Section 5.12(a) shall not apply to this Series.
(c) The Retained Interest Class A Certificates will be uncertificated entitled to receive (i) on each Distribution Date, commencing on February 15, 2002 and shall be as described in Schedule II attached hereto. The Retained Interest will be issued ending on the Final Scheduled Distribution Date, or such earlier date if the Underlying Securities are redeemed prior to the Depositor and may be transferred by Final Scheduled Distribution Date, distributions at a rate of 8.00% per annum on the Depositor to another party at the sole option stated amount of the Depositor without Class A Certificates and (ii) on the consent Final Scheduled Distribution Date, a distribution of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records aggregate principal amount of the Trustee. Underlying Securities.
(d) On each Distribution Date, payments the Class B Certificates will be made on entitled to receive a distribution of 0.207% per annum multiplied by the Retained Interest by wire transfer notional principal amount of the Class B Certificates (the "Class B Payments").
(e) Any reference to the account(s) principal amount of holder(s) thereof on the related Record Date Certificates shall be construed as specified in written instructions a reference to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder stated amount of the Retained Interest without Class A Certificates and/or the consent notional principal amount of the holder of the Retained InterestClass B Certificates, unless otherwise indicated.
Appears in 3 contracts
Sources: Series Supplement (Preferredplus Trust Series All-1), Series Supplement (Preferredplus Trust Series All-1), Series Supplement (Preferredplus Trust Series All-1)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] PPLUS Trust Series GSG-2". The Class A Certificates Trust, Series 199[__]-[SERIES DESIGNATION]", the and Class B Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Certificates, Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "PPLUS Class A 5.75% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Retained InterestGSG-2" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "PPLUS Class B 0.375% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Call Warrant"GSG-2," respectively.
(b) The Class A Certificates and Class B Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. Exhibits B and C, respectively. The Class A Certificates shall be issued in minimum authorized denominations of $1,000 25 and integral multiples thereof and the Class B Certificates shall be issued with a notional principal amount of $1,000 in excess 25 and integral multiples thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness; provided, however, from time to time, upon obtaining prior written confirmation by each Rating Agency that such action will not result in a downgrading or withdrawal of its rating of the Certificates, the Depositor may, without the consent of the Certificateholders, increase the amount of the Underlying Securities in the Trust and the Trust may issue a corresponding amount of additional Certificates in accordance with Section 5.12(a) of the Standard Terms except that clauses (v), (vi) and (vii) of Section 5.12(a) shall not apply to this Series and a corresponding number of additional Warrants in accordance with Article I of the Warrant Agreement.
(c) The Retained Interest Class A Certificates will be uncertificated entitled to receive (i) on each Distribution Date, commencing on August 15, 2003 and shall be as described in Schedule II attached hereto. The Retained Interest will be issued ending on the Final Scheduled Distribution Date, or such earlier date if the Underlying Securities are redeemed prior to the Depositor and may be transferred by Final Scheduled Distribution Date, distributions at a rate of 5.75% per annum on the Depositor to another party at the sole option stated amount of the Depositor without Class A Certificates and (ii) on the consent Final Scheduled Distribution Date, a distribution of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records aggregate principal amount of the Trustee. Underlying Securities.
(d) On each Distribution Date, payments the Class B Certificates will be made on entitled to receive a distribution of 0.375% per annum multiplied by the Retained Interest by wire transfer notional principal amount of the Class B Certificates (the "Class B Payments").
(e) Any reference to the account(s) principal amount of holder(s) thereof on the related Record Date Certificates shall be construed as specified in written instructions a reference to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder stated amount of the Retained Interest without Class A Certificates and/or the consent notional principal amount of the holder of the Retained InterestClass B Certificates, unless otherwise indicated.
Appears in 3 contracts
Sources: Trust Supplement (Merrill Lynch Depositor Inc Pplus Trust Series GSG-2), Series Supplement (Merrill Lynch Depositor Inc Pplus Trust Series GSG-2), Trust Supplement (Merrill Lynch Depositor Inc Pplus Trust Series GSG-2)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates TrustRepackaged GE Global Insurance Floating Rate Trust Certificates, Series 199[__]-[SERIES DESIGNATION]", the 2002-1 Trust." The Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Repackaged GE Global Insurance Floating Rate Trust Certificates, Series 199[__]-[SERIES DESIGNATION]2002-1.", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Call Warrant".
(ba) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. A. The Certificates shall be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof1,000. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness.
(b) The Certificates have an initial aggregate certificate principal amount (the "Certificate Principal Amount") of $12,000,000.
(c) The Retained Interest holders of the Certificates will be uncertificated entitled to receive on each Distribution Date the Interest Distribution Amount. On the Distribution Date occurring in February 2003, the Trustee shall cause the Trust to pay to the Depositor the amount of interest accrued and paid on the Underlying Securities from August 15, 2002, to but not including the Closing Date. If the Depositor is not paid any such amount on such date, it shall have a claim for such amount. If Available Funds are insufficient to pay such amount, the Trustee will pay the Depositor its pro rata share, based on the ratio the amount owed the Depositor bears to all amounts owed with respect to the Certificates in respect of principal and accrued interest, of any proceeds from the recovery on the Underlying Securities.
(d) The Depositor may sell to the Trustee additional Underlying Securities on any date hereafter upon at least 3 Business Days' notice to the Trustee (or such shorter period as shall be as described in Schedule II attached hereto. The Retained Interest will be issued mutually satisfactory to the Depositor and may be transferred by the Depositor to another party at the sole option Trustee) and upon (i) satisfaction of the Depositor without the Rating Agency Condition, (ii) prior consent of the Certificateholders Swap Counterparty and (iii) delivery of an Opinion of Counsel to the effect that the sale of such additional Underlying Securities will not cause the Trust to be taxed as an association or any other partypublicly traded partnership taxable as a corporation for federal income tax purposes. The beneficial ownership interest Each condition to be satisfied with respect to a sale of Underlying Securities on or prior to the Closing Date shall be satisfied with respect to a sale of additional Underlying Securities no later than the date of sale thereof, each representation and warranty set forth in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments will Standard Terms to be made on the Retained Interest Closing Date shall be made on such date of sale, and from and after such date of sale, all Underlying Securities held by wire transfer to the account(s) of holder(s) thereof Trustee shall be held on the related Record Date as specified in written instructions same terms and conditions. Upon such sale to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree deposit such additional Underlying Securities in the Certificate Account, and shall authenticate and deliver to any amendment or modification the Depositor, on its order, Certificates in a Certificate Principal Balance equal to the principal amount of such additional Underlying Securities. Any such additional Certificates authenticated and delivered shall have the same terms and rank pari passu with the Certificates previously issued in accordance with this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder of the Retained Interest without the consent of the holder of the Retained InterestSeries Supplement.
Appears in 2 contracts
Sources: Series Supplement (Lehman Abs Corp Repac Ge Glob Ins FLT Rt Tr Cert Ser 2002-1), Series Supplement (Lehman Abs Corp Repac Ge Glob Ins FLT Rt Tr Cert Ser 2002-1)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates TrustRepackaged American General Floating Rate Trust Certificates, Series 199[__]-[SERIES DESIGNATION]", the 2003-1 Trust." The Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Repackaged American General Floating Rate Trust Certificates, Series 199[__]-[SERIES DESIGNATION]2003-1.", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Call Warrant".
(ba) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. A. The Certificates shall be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof1,000. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness.
(b) The Certificates have an initial aggregate certificate principal amount (the "Certificate Principal Amount") of $10,000,000.
(c) The Retained Interest holders of the Certificates will be uncertificated and entitled to receive on each Distribution Date the Interest Distribution Amount.
(d) The Depositor may sell to the Trustee additional Underlying Securities on any date hereafter upon at least 3 Business Days' notice to the Trustee (or such shorter period as shall be as described in Schedule II attached hereto. The Retained Interest will be issued mutually satisfactory to the Depositor and may be transferred by the Depositor to another party at the sole option Trustee) and upon (i) satisfaction of the Depositor without the Rating Agency Condition, (ii) prior consent of the Certificateholders Swap Counterparty and (iii) delivery of an Opinion of Counsel to the effect that the sale of such additional Underlying Securities will not cause the Trust to be taxed as an association or any other partypublicly traded partnership taxable as a corporation for federal income tax purposes. The beneficial ownership interest Each condition to be satisfied with respect to a sale of Underlying Securities on or prior to the Closing Date shall be satisfied with respect to a sale of additional Underlying Securities no later than the date of sale thereof, each representation and warranty set forth in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments will Standard Terms to be made on the Retained Interest Closing Date shall be made on such date of sale, and from and after such date of sale, all Underlying Securities held by wire transfer to the account(s) of holder(s) thereof Trustee shall be held on the related Record Date as specified in written instructions same terms and conditions. Upon such sale to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree deposit such additional Underlying Securities in the Certificate Account, and shall authenticate and deliver to any amendment or modification the Depositor, on its order, Certificates in a Certificate Principal Balance equal to the principal amount of such additional Underlying Securities. Any such additional Certificates authenticated and delivered shall have the same terms and rank pari passu with the Certificates previously issued in accordance with this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder of the Retained Interest without the consent of the holder of the Retained InterestSeries Supplement.
Appears in 2 contracts
Sources: Trust Certificates (Lehman Abs Corp Repack Amer Gen Float Rt Tr Certs Ser 2003-1), Series Supplement (Lehman Abs Corp Repack Amer Gen Float Rt Tr Certs Ser 2003-1)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates Corporate Backed Trust Certificates, BellSouth Debenture-Backed Series 2002-8 Trust, Series 199[__]-[SERIES DESIGNATION]", the ." The Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Corporate Backed Trust Certificates, BellSouth Debenture-Backed Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder 2002-8." The Certificates shall consist of the Underlying Securities a single class of Certificates (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and Certificates"). The Trust is also issuing call warrants with respect to the Certificates ("Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the Warrants"Series 199[__]-[SERIES DESIGNATION] Call Warrant").
(ba) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. A. The Certificates shall be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof25. Except as provided in the Standard TermsTerms and in paragraph (d) in this Section, the Trust shall not issue additional Certificates or additional Call Warrants or incur any indebtedness.
(b) The Certificates consist of 2,684,400 Certificates having an initial aggregate certificate principal amount (the "Certificate Principal Balance") of $67,110,000.
(c) The Retained Interest holders of the Certificates will be uncertificated entitled to receive on each Distribution Date the interest, if any, received on the Underlying Securities, to the extent necessary to pay interest at a rate of 7.00% per annum on the outstanding Certificate Principal Balance of the Certificates. On the Distribution Date in June 2002, the Trustee will pay to the Depositor the amount of interest accrued and paid on the Underlying Securities from December 1, 2001, to but not including the Closing Date; provided, however, that in the event an Optional Exchange shall occur prior to the Distribution Date in June 2002, a pro rata portion of such amount shall be paid to the Depositor on the Optional Exchange Date, in accordance with the provisions of Section 7(b)(vii) hereof. If Available Funds are insufficient to pay such amount, the Trustee will pay the Depositor its pro rata share, based on the ratio the amount owed to the Depositor bears to all amounts owed on the Certificates in respect of accrued interest, of any proceeds from the recovery on the Underlying Securities.
(d) The Depositor may sell to the Trustee additional Underlying Securities on any date hereafter upon at least 3 Business Days' notice to the Trustee (or such shorter period as described in Schedule II attached hereto. The Retained Interest will shall be issued mutually satisfactory to the Depositor and may be transferred by the Depositor to another party at the sole option Trustee) and upon (i) satisfaction of the Depositor without Rating Agency Condition and (ii) delivery of an Opinion of Counsel to the consent effect that the sale of such additional Underlying Securities will not cause the Certificateholders Trust to be taxed as an association or any other partypublicly traded partnership taxable as a corporation for federal income tax purposes. The beneficial ownership interest Each condition to be satisfied with respect to a sale of Underlying Securities on or prior to the Closing Date shall be satisfied with respect to a sale of additional Underlying Securities no later than the date of sale thereof, each representation and warranty set forth in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments will Standard Terms to be made on the Retained Interest Closing Date shall be made on such date of sale, and from and after such date of sale, all Underlying Securities held by wire transfer to the account(s) of holder(s) thereof Trustee shall be held on the related Record Date as specified in written instructions same terms and conditions. Upon such sale to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree deposit such additional Underlying Securities in the Certificate Account, and shall authenticate and deliver to the Depositor, on its order, Certificates, with an aggregate Certificate Principal Balance equal to the aggregate amount of such additional Underlying Securities, and the Call Warrants related thereto as described herein. Any such additional Certificates authenticated and delivered shall have the same terms and rank pari passu with any amendment or modification of Certificates previously issued in accordance with this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder of the Retained Interest without the consent of the holder of the Retained InterestSeries Supplement.
Appears in 2 contracts
Sources: Series Supplement (Lehman Abs Corp), Series Supplement (Lehman Abs Corp)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates Corporate Backed Trust Certificates, DaimlerChrysler Debenture-Backed Series 2002-4 Trust, Series 199[__]-[SERIES DESIGNATION]", the ." The Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Corporate Backed Trust Certificates, DaimlerChrysler Debenture-Backed Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder 2002-4." The Certificates shall consist of the Underlying Securities a single class of Certificates (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and Certificates"). The Trust is also issuing call warrants with respect to the Certificates ("Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the Warrants"Series 199[__]-[SERIES DESIGNATION] Call Warrant").
(ba) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. A. The Certificates shall be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof25. Except as provided in the Standard TermsTerms and in paragraph (d) in this Section, the Trust shall not issue additional Certificates or additional Call Warrants or incur any indebtedness.
(b) The Certificates have an initial aggregate Certificate Principal Balance of $87,650,400.
(c) The Retained Interest holders of the Certificates will be uncertificated entitled to receive on each Distribution Date the interest, if any, received on the Underlying Securities, to the extent necessary to pay interest at a rate of 7.50% per annum on the outstanding Certificate Principal Balances of the Certificates. On August 1, 2002, the Trustee will pay to the Depositor the amount of interest accrued and paid on the Underlying Securities from February 1, 2002, to but not including the Closing Date; provided, however, that in the event an Optional Exchange shall occur prior to August 1, 2002, a pro rata portion of such amount shall be paid to the Depositor on the Optional Exchange Date, in accordance with the provisions of Section 7(a)(vii) hereof. If Available Funds are insufficient to pay such amount, the Trustee will pay the Depositor its pro rata share, based on the ratio the amount owed to the Depositor bears to all amounts owed on the Certificates in respect of accrued interest, of any proceeds from the recovery on the Underlying Securities.
(d) The Depositor may sell to the Trustee additional Underlying Securities on any date hereafter upon at least 3 Business Days' notice to the Trustee (or such shorter period as described in Schedule II attached hereto. The Retained Interest will shall be issued mutually satisfactory to the Depositor and may be transferred by the Depositor to another party at the sole option Trustee) and upon (i) satisfaction of the Depositor without Rating Agency Condition and (ii) delivery of an Opinion of Counsel to the consent effect that the sale of such additional Underlying Securities will not cause the Trust to be taxed as an association or publicly traded partnership taxable as a corporation for federal income tax purposes. Such additional Underlying Securities shall consist of both 7.45% Underlying Securities and 7.40% Underlying Securities in the same proportion as exists in the Trust as of the Certificateholders date hereof. Each condition to be satisfied with respect to a sale of Underlying Securities on or any other party. The beneficial ownership interest prior to the Closing Date shall be satisfied with respect to a sale of additional Underlying Securities no later than the date of sale thereof, each representation and warranty set forth in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments will Standard Terms to be made on the Retained Interest Closing Date shall be made on such date of sale, and from and after such date of sale, all Underlying Securities held by wire transfer to the account(s) of holder(s) thereof Trustee shall be held on the related Record Date as specified in written instructions same terms and conditions. Upon such sale to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree deposit such additional Underlying Securities in the Certificate Account, and shall authenticate and deliver to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect Depositor, on its order, Certificates in any material respect the holder same proportion to the additional 7.40% Underlying Securities and additional 7.45% Underlying Securities as the proportion of the Retained Interest without original Certificates to the consent original 7.40% Underlying Securities and the original 7.45% Underlying Securities, with an aggregate Certificate Principal Balance equal to the principal amount of such additional Underlying Securities, and the Call Warrants related thereto. Any such additional Certificates authenticated and delivered shall have the same terms and rank pari passu with any Certificates previously issued in accordance with this Series Supplement.
(e) As a condition precedent for transferring the Call Warrants, the prospective transferee shall be required to deliver to the Trustee and the Depositor an executed copy of the holder of the Retained InterestInvestment Letter (set forth in Exhibit C hereto).
Appears in 2 contracts
Sources: Series Supplement (Lehman Abs Corp), Series Supplement (Lehman Abs Corp)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates Corporate-Backed Trust Certificates, DaimlerChrysler Debenture-Backed Series 2004-3 Trust, Series 199[__]-[SERIES DESIGNATION]", the Certificates ." The certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Corporate-Backed Trust Certificates, DaimlerChrysler Debenture-Backed Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities 2004-3" (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and Certificates"). The Trust is also issuing call warrants with respect to the Certificates ("Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the Warrants"Series 199[__]-[SERIES DESIGNATION] Call Warrant").
(ba) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. A. The Certificates shall be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof25. Except as provided in the Standard TermsTerms and in paragraph (d) of this Section, the Trust shall not issue additional Certificates or incur any indebtedness.
(b) The Certificates have an initial aggregate Certificate Principal Balance of $25,000,000.
(c) The Retained Interest holders of the Certificates will be uncertificated and entitled to receive on each Distribution Date an amount equal to the related Interest Distribution Amount.
(d) The Depositor may sell to the Trustee additional Underlying Securities on any date hereafter upon at least 3 Business Days' notice to the Trustee (or such shorter period as shall be as described in Schedule II attached hereto. The Retained Interest will be issued mutually satisfactory to the Depositor and may be transferred by the Depositor to another party at the sole option Trustee) and upon (i) satisfaction of the Depositor without the Rating Agency Condition, (ii) prior consent of the Certificateholders Swap Counterparty and (iii) delivery of an Opinion of Counsel to the effect that the sale of such additional Underlying Securities will not cause the Trust to be taxed as an association or any other partypublicly traded partnership taxable as a corporation for federal income tax purposes. The beneficial ownership interest Each condition to be satisfied with respect to a sale of Underlying Securities on or prior to the Closing Date shall be satisfied with respect to a sale of additional Underlying Securities no later than the date of sale thereof, each representation and warranty set forth in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments will Standard Terms to be made on the Retained Interest Closing Date shall be made on such date of sale, and from and after such date of sale, all Underlying Securities held by wire transfer to the account(s) of holder(s) thereof Trustee shall be held on the related Record Date as specified in written instructions same terms and conditions. Upon such sale to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall deposit such additional Underlying Securities in the Certificate Account, and shall authenticate and deliver to the Depositor, on its order, Certificates in a Certificate Principal Balance equal to the principal amount of such additional Underlying Securities, and Call Warrants related thereto. Any such additional Certificates authenticated and delivered shall have the same terms and rank pari passu with the Certificates previously issued in accordance with this Series Supplement.
(e) On the Distribution Date occurring in March 2004, the Trustee shall cause the Trust to pay to the Depositor the amount of interest accrued and paid on the Underlying Securities from September 1, 2003, to but not agree to any amendment or modification of this Agreement (including the Standard TermsClosing Date; provided, however, that in the event an Optional Exchange Date shall occur prior to the Distribution Date in March 2004, a pro rata portion of such amount shall be paid to the Depositor on the Optional Exchange Date in accordance with the provisions of Section 7(b)(ix) which would adversely affect hereof. If the Depositor is not paid any such amount on such date, it shall have a claim for such amount. If Available Funds are insufficient to pay such amount, the Trustee will pay the Depositor its pro rata share, based on the ratio the amount owed to the Depositor bears to all amounts owed on the Certificates in respect of accrued interest, of any material respect proceeds from the holder of recovery on the Retained Interest without the consent of the holder of the Retained InterestUnderlying Securities.
Appears in 2 contracts
Sources: Series Supplement (Lehman Abs Corp Daimlerchrysler Debenture-Backed Ser 2004 3), Series Supplement (Lehman Abs Corp Daimlerchrysler Debenture-Backed Ser 2004 3)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates Callable Zero Coupon Trust, Series 199[__]-[SERIES DESIGNATION]2002-TVA-1", the . The Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Callable Zero Coupon Trust Certificates, Series 199[__]-[SERIES DESIGNATION]2002-TVA-1", . The Trust is also issuing call warrants with respect to the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities Certificates (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the Warrants"Series 199[__]-[SERIES DESIGNATION] Call Warrant").
(ba) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. A. The Certificates shall be issued in minimum notional denominations of $1,000 and integral multiples of $1,000 in excess thereof. Except as provided in the Standard TermsTerms and in paragraph (c) in this Section, the Trust shall not issue additional Certificates or additional Call Warrants or incur any indebtedness.
(b) The Certificates have an initial aggregate certificate principal amount (the "Certificate Principal Amount") of $500,000,000. The holders of the Certificates will be entitled to receive to the extent received on the Underlying Securities, a distribution of principal on the Scheduled Distribution Date, subject to the rights of the holders of the Call Warrants.
(c) The Retained Interest Depositor may sell to the Trustee additional Underlying Securities on any date hereafter upon at least 3 Business Days' notice to the Trustee and upon (i) satisfaction of the Rating Agency Condition and (ii) delivery of an Opinion of Counsel to the effect that the sale of such additional Underlying Securities will not cause the Trust to be uncertificated and taxed as an association or publicly traded partnership taxable as a corporation for federal income tax purposes. Each condition to be satisfied with respect to a sale of Underlying Securities on or prior to the Closing Date shall be as described in Schedule II attached hereto. The Retained Interest will be issued satisfied with respect to a sale of additional Underlying Securities no later than the Depositor date of sale thereof, each representation and may be transferred by the Depositor to another party at the sole option of the Depositor without the consent of the Certificateholders or any other party. The beneficial ownership interest warranty set forth in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments will Standard Terms to be made on the Retained Interest Closing Date shall be made on such date of sale, and from and after such date of sale, all Underlying Securities held by wire transfer to the account(s) of holder(s) thereof Trustee shall be held on the related Record Date as specified in written instructions same terms and conditions. Upon such sale to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree deposit such additional Underlying Securities in the Certificate Account, and shall authenticate and deliver to any amendment or modification of this Agreement the Depositor, on its order, Certificates in a Certificate Principal Amount, and the Call Warrants related thereto.
(including d) As a condition precedent for transferring the Standard Terms) which would adversely affect in any material respect Call Warrants, the holder prospective transferee shall be required to deliver to the Trustee and the Depositor an executed copy of the Retained Interest without the consent of the holder of the Retained InterestInvestment Letter (set forth in Exhibit C hereto).
Appears in 2 contracts
Sources: Callable Zero Coupon Trust Certificates (Lehman Abs Corp), Callable Zero Coupon Trust Certificates Series Supplement (Lehman Abs Corp)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates Corporate Backed Trust Certificates, Verizon New York Debenture-Backed Series 2004-5 Trust, Series 199[__]-[SERIES DESIGNATION]", the Certificates ." The certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Corporate Backed Trust Certificates, Verizon New York Debenture-Backed Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities 2004-5" (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the Certificates"Series 199[__]-[SERIES DESIGNATION] Call Warrant").
(ba) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. A. The Certificates shall be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof25. Except as provided in the Standard TermsTerms and in paragraph (d) of this Section, the Trust shall not issue additional Certificates or incur any indebtedness.
(b) The Certificates have an initial aggregate Certificate Principal Balance of $25,000,000.
(c) The Retained Interest holders of the Certificates will be uncertificated and entitled to receive on each Distribution Date an amount equal to the related Interest Distribution Amount.
(d) The Depositor may sell to the Trustee additional Underlying Securities on any date hereafter upon at least 3 Business Days' notice to the Trustee (or such shorter period as shall be as described in Schedule II attached hereto. The Retained Interest will be issued mutually satisfactory to the Depositor and may be transferred by the Depositor to another party at the sole option Trustee) and upon (i) satisfaction of the Depositor without the Rating Agency Condition, (ii) prior consent of the Certificateholders Swap Counterparty and (iii) delivery of an Opinion of Counsel to the effect that the sale of such additional Underlying Securities will not cause the Trust to be taxed as an association or any other partypublicly traded partnership taxable as a corporation for federal income tax purposes. The beneficial ownership interest Each condition to be satisfied with respect to a sale of Underlying Securities on or prior to the Closing Date shall be satisfied with respect to a sale of additional Underlying Securities no later than the date of sale thereof, each representation and warranty set forth in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments will Standard Terms to be made on the Retained Interest Closing Date shall be made on such date of sale, and from and after such date of sale, all Underlying Securities held by wire transfer to the account(s) of holder(s) thereof Trustee shall be held on the related Record Date as specified in written instructions same terms and conditions. Upon such sale to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall deposit such additional Underlying Securities in the Certificate Account, and shall authenticate and deliver to the Depositor, on its order, Certificates in a Certificate Principal Balance equal to the principal amount of such additional Underlying Securities. Any such additional Certificates authenticated and delivered shall have the same terms and rank pari passu with the Certificates previously issued in accordance with this Series Supplement.
(e) On the Distribution Date occurring in April 2004, the Trustee shall cause the Trust to pay to the Depositor the amount of interest accrued and paid on the Underlying Securities from October 1, 2003, to but not agree to any amendment or modification of this Agreement (including the Standard TermsClosing Date; provided, however, that in the event an Optional Exchange Date shall occur prior to the Distribution Date in April 2004, a pro rata portion of such amount shall be paid to the Depositor on the Optional Exchange Date in accordance with the provisions of Section 7(b)(ix) which would adversely affect hereof. If the Depositor is not paid any such amount on such date, it shall have a claim for such amount. If Available Funds are insufficient to pay such amount, the Trustee will pay the Depositor its pro rata share, based on the ratio the amount owed to the Depositor bears to all amounts owed on the Certificates in respect of accrued interest, of any material respect proceeds from the holder of recovery on the Retained Interest without the consent of the holder of the Retained InterestUnderlying Securities.
Appears in 2 contracts
Sources: Series Supplement (Lehman Abs Corp Verizon Ny Debenture Backed Ser 2004-5), Series Supplement (Lehman Abs Corp Verizon Ny Debenture Backed Ser 2004-5)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] PREFERREDPLUS Trust Series GEC-1". The Class A Certificates Trust, Series 199[__]-[SERIES DESIGNATION]", the and Class B Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Certificates, Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "PREFERREDPLUS Class A 6.05% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Retained InterestGEC-1" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "PREFERREDPLUS Class B 0.70% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Call Warrant"GEC-1," respectively.
(b) The Class A Certificates and Class B Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. Exhibits B and C, respectively. The Class A Certificates shall be issued in minimum authorized denominations of $1,000 25 and integral multiples thereof and the Class B Certificates shall be issued with a notional principal amount of $1,000 in excess 25 and integral multiples thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness; provided, however, from time to time, upon obtaining prior written confirmation by each Rating Agency that such action will not result in a downgrading or withdrawal of its rating of the Certificates, the Depositor may, without the consent of the Certificateholders, increase the amount of the Underlying Securities in the Trust and the Trust may issue a corresponding amount of additional Certificates in accordance with Section 5.12(a) of the Standard Terms except that clauses (v), (vi) and (vii) of Section 5.12(a) shall not apply to this Series and a corresponding number of additional Warrants in accordance with Article I of the Warrant Agreement.
(c) The Retained Interest Class A Certificates will be uncertificated entitled to receive (i) on each Distribution Date, commencing on March 15, 2003 and shall be as described in Schedule II attached hereto. The Retained Interest will be issued ending on the Final Scheduled Distribution Date, or such earlier date if the Underlying Securities are redeemed prior to the Depositor and may be transferred by Final Scheduled Distribution Date, distributions at a rate of 6.05% per annum on the Depositor to another party at the sole option stated amount of the Depositor without Class A Certificates and (ii) on the consent Final Scheduled Distribution Date, a distribution of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records aggregate principal amount of the Trustee. Underlying Securities.
(d) On each Distribution Date, payments the Class B Certificates will be made on entitled to receive a distribution of 0.70% per annum multiplied by the Retained Interest by wire transfer notional principal amount of the Class B Certificates (the "Class B Payments").
(e) Any reference to the account(s) principal amount of holder(s) thereof on the related Record Date Certificates shall be construed as specified in written instructions a reference to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder stated amount of the Retained Interest without Class A Certificates and/or the consent notional principal amount of the holder of the Retained InterestClass B Certificates, unless otherwise indicated.
Appears in 2 contracts
Sources: Series Supplement (Merrill Lynch Depositor Inc Preferredplus Trust Series Gec 1), Series Supplement (Merrill Lynch Depositor Inc Preferredplus Trust Series Gec 1)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates Trust[ ], Series 199[__]-[SERIES DESIGNATION20[ ]", the -[ ] Trust." The Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF[ ] Trust Certificates, Series 199[__]-[SERIES DESIGNATION20[ ]"-[ ]." The Certificates shall consist of [the Class A-[ ] Certificates and the Class A-[ ] Certificates] [add other classes of Certificates, if any] (together, the Retained Interest evidencing certain undivided ownership interests in "Certificates"). [The Trust is also issuing a Call Option to the remainder of Rights Holder with respect to the Underlying Securities (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Call Warrant"Certificates.]
(b) The Class A-[ ] [Senior] Certificates [and the Class A-[ ] [Subordinated] Certificates shall be held through the Depository in book- entry form and shall be substantially in the form attached hereto as Exhibit B. The Certificates shall be issued in minimum denominations have an initial aggregate Certificate Principal Balance of $1,000 and integral multiples [_________]. The Class A-[ ] Certificates have an initial aggregate Certificate Principal Balance of $1,000 in excess thereof. Except as provided in [________] and are expected to accrete to $[ ] by the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtednessFinal Scheduled Distribution Date.]
(c) The holders of the Class A-[ ] [Senior] Certificates [and the Class A-[ ] [Subordinated] Certificates] will be entitled to receive on each Distribution Date, in accordance with Section 5 hereof, the Interest Proceeds, Principal Proceeds and Premium Proceeds received on the Deposited Assets, to the extent necessary to pay the Accrued Certificate Interest, principal and premiums on the Class A-[ ] [Senior] Certificates [and the Class A-[ ] [Subordinated] Certificates]. [The Class A-[ ] Certificates shall not bear interest.]
(d) [The Retained Interest will be uncertificated and shall be as described in Schedule II attached hereto. The Retained Interest will be issued to the Depositor and may be transferred by the Depositor to another party at the sole option of the Depositor without the consent of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments will be made on the Retained Interest by wire transfer to the account(s) of holder(s) thereof on the related Record Date as specified in written instructions to the Trustee. Notwithstanding any other provision of this AgreementSeries Supplement, the Trustee shall not agree to any amendment or modification of this Agreement Series Supplement (including the Standard Terms) which would adversely affect in any material respect the holder of the Retained Interest without the consent of the holder of the Retained Interest.]
Appears in 1 contract
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates Callable Treasury Strip Trust, Series 199[__]-[SERIES DESIGNATION]", 1997-USTS-3" the Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Callable Treasury Strip Trust Certificates, Series 199[__]-[SERIES DESIGNATION]", 1997-USTS-3" and the Retained Interest Call Rights evidencing certain undivided ownership interests in the remainder rights to purchase all of the Underlying Securities (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and the 1997-USTS-3 Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the Rights."Series 199[__]-[SERIES DESIGNATION] Call Warrant".
(b) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. The Certificates shall be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof. Except With the exception of the issuance of additional Certificates by the Trust in connection with the depositing, from time to time, of Additional Underlying Securities into the Trust by the Depositor, and except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness. Such additional Certificates may only be issued if they are identical to and fungible with the Certificates and the Additional Underlying Securities are similarly identical to and fungible with the Underlying Securities.
(c) The Retained Interest Call Rights will be uncertificated and shall be as described in Schedule II attached hereto. The Retained Interest Call Rights will initially be issued to the Depositor, and will then be immediately sold by the Depositor to an affiliate thereof, in an initial aggregate amount of $176,708,000 (such amount will increase upon the deposit of Additional Underlying Securities into the Trust by the Depositor) representing the right to call the corresponding amount of Underlying Securities and may be transferred by the Depositor to another party in whole or in part at the sole option of the Depositor without the consent of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest Call Rights will be recorded on the records of the Trustee. On each Distribution the Redemption Date, payments payment will be made on the Retained Interest Call Rights by wire transfer to the account(s) Certificate Account for distribution to the Certificateholders of holder(s) thereof record on the related Record Date as specified in written instructions to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder of the Retained Interest Rights Holder without the consent of the holder of Rights Holder; provided, however, that such consent shall not be necessary if the Retained InterestUnderlying Securities Issuer is then in default.
Appears in 1 contract
Sources: Callable Treasury Strip Trust Certificates Series Supplement (Lehman Abs Corp)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates Trust[ ], Series 199[__]-[SERIES DESIGNATION20[ ]", the -[ ] Trust." The Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF[ ] Trust Certificates, Series 199[__]-[SERIES DESIGNATION20[ ]"-[ ]." The Certificates shall consist of [the Class A-[ ] Certificates and the Class A-[ ] Certificates] [add other classes of Certificates, if any] (together, the Retained Interest evidencing certain undivided ownership interests in "Certificates"). [The Trust is also issuing a Call Option to the remainder of Rights Holder with respect to the Underlying Securities (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Call Warrant"Certificates.]
(b) The Class A-[ ] Certificates [and the Class A-[ ] Certificates shall be held through the Depository in book- entry form and shall be substantially in the form attached hereto as Exhibit B. The Certificates shall be issued in minimum denominations have an initial aggregate Certificate Principal Balance of $1,000 and integral multiples [_________]. The Class A-[ ] Certificates have an initial aggregate Certificate Principal Balance of $1,000 in excess thereof. Except as provided in [________] and are expected to accrete to $[ ] by the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtednessFinal Scheduled Distribution Date.]
(c) The holders of the Class A-[ ] Certificates [and the Class A-[ ] Certificates] will be entitled to receive on each Distribution Date, in accordance with Section 5 hereof, the Interest Proceeds, Principal Proceeds and Premium Proceeds received on the Deposited Assets, to the extent necessary to pay the Accrued Certificate Interest, principal and premiums on the Class A-[ ] Certificates [and the Class A-[ ] Certificates]. [The Class A-[ ] Certificates shall not bear interest.]
(d) [The Retained Interest will be uncertificated and shall be as described in Schedule II attached hereto. The Retained Interest will be issued to the Depositor and may be transferred by the Depositor to another party at the sole option of the Depositor without the consent of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments will be made on the Retained Interest by wire transfer to the account(s) of holder(s) thereof on the related Record Date as specified in written instructions to the Trustee. Notwithstanding any other provision of this AgreementSeries Supplement, the Trustee shall not agree to any amendment or modification of this Agreement Series Supplement (including the Standard Terms) which would adversely affect in any material respect the holder of the Retained Interest without the consent of the holder of the Retained Interest.]
Appears in 1 contract
Designation of Trust and Certificates. (a) The ------------------------------------- Trust ------------------------------------- created hereby shall be known as the "[NAME OFName of] Certificates Trust, Series 199[__]-[SERIES DESIGNATION]", the Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OFName of] Certificates, Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Call Warrant".
(b) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. The Certificates shall be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness.
(c) The Retained Interest will be uncertificated and shall be as described in Schedule II attached hereto. The Retained Interest will be issued to the Depositor and may be transferred by the Depositor to another party at the sole option of the Depositor without the consent of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments will be made on the Retained Interest by wire transfer to the account(s) of holder(s) thereof on the related Record Date as specified in written instructions to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder of the Retained Interest without the consent of the holder of the Retained Interest.
Appears in 1 contract
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates TrustCorporate-Backed Trust Certificates, Series 199[__]-[SERIES DESIGNATION]", the 200_-[ ] Trust." The Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Corporate Backed Trust Certificates, Series 199[__]-[SERIES DESIGNATION200_-[ ]"." The Certificates shall consist of the Class [A-1] Certificates and the Class [A-2] Certificates (together, the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the Certificates"Series 199[__]-[SERIES DESIGNATION] Call Warrant").
(b) The Class [A-1] Certificates shall be held through have an initial aggregate Certificate Principal Amount of [ ]The Class [A-2] Certificates are interest-only Certificates, and have a notional principal amount equal to the Depository in book- entry form and shall be substantially in Certificate Principal Amount of the form attached hereto as Exhibit B. The Certificates shall be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtednessClass [A-1] Certificates.
(c) The Retained Interest holders of the Class [A-1] Certificates will be uncertificated and shall be as described in Schedule II attached heretoentitled to receive on each Distribution Date the interest, if any, received on the Underlying Securities, to the extent necessary to pay interest at a rate of [ ]% per annum on the outstanding Certificate Principal Amount of the Class [A-1] Certificates. The Retained Interest holders of the Class [A-2] Certificates will be issued entitled to receive on each Distribution Date the interest, if any, received on the Underlying Securities, to the extent necessary to pay interest at a rate of [ ]% per annum on the outstanding notional principal amount of the Class [A-2] Certificates. On [ ], the Trustee will pay to the Depositor the amount of interest accrued on the Underlying Securities from [ ] to but not including the Closing Date.]
(d) The Depositor may sell to the Trustee additional Underlying Securities on any date hereafter upon at least 3 Business Days notice to the Trustee and may be transferred by the Depositor to another party at the sole option upon (i) satisfaction of the Depositor without the consent Rating Agency Condition and (ii) delivery of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records an Opinion of the Trustee. On each Distribution Date, payments will be made on the Retained Interest by wire transfer Counsel to the account(s) effect that the sale of holder(s) thereof on such additional Underlying Securities will not materially increase the related Record Date likelihood that the Trust would fail to qualify as specified in written instructions a grantor trust under the Code. Upon such sale to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree deposit such additional Underlying Securities in the Certificate Account, and shall authenticate and deliver to any amendment the Depositor, or modification its order, [Class A-1] Certificates in a Certificate Principal Amount, and [Class A-2] Certificates in [a notional amount], equal to the principal amount of such additional Underlying Securities. Any such additional Certificates authenticated and delivered shall have the same terms and rank pari passu with the corresponding classes of Certificates previously issued in accordance with this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder of the Retained Interest without the consent of the holder of the Retained InterestSeries Supplement.
Appears in 1 contract
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates Callable Treasury Strip Trust, Series 199[__]-[SERIES DESIGNATION]", 1997-USTS-1" the Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Callable Treasury Strip Trust Certificates, Series 199[__]-[SERIES DESIGNATION]", 1997-USTS-1" and the Retained Interest Call Rights evidencing certain undivided ownership interests in the remainder rights to purchase all of the Underlying Securities (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and the 1997-USTS-1 Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the Rights."Series 199[__]-[SERIES DESIGNATION] Call Warrant".
(b) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. The Certificates shall be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness.
(c) The Retained Interest Call Rights will be uncertificated and shall be as described in Schedule II attached hereto. The Retained Interest Call Rights will initially be issued to the Depositor or an affiliate thereof in an initial aggregate amount of $131,078,000 representing the right to call the corresponding amount of Underlying Securities and may be transferred by the Depositor to another party in whole or in part at the sole option of the Depositor without the consent of the Certificateholders or any other party. The Call Rights are exercisable only at the direction of all of the holders thereof. The beneficial ownership interest in the Retained Interest Call Rights will be recorded on the records of the Trustee. On each Distribution the Redemption Date, payments payment will be made on the Retained Interest Call Rights by wire transfer to the account(s) account of holder(s) the holder thereof on the related Record Date as specified in written instructions to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder of the Retained Interest Rights Holders without the consent of such Rights Holders; provided, however, that such consent shall not be necessary if the holder of the Retained InterestUnderlying Securities Issuer is then in default.
Appears in 1 contract
Sources: Callable Treasury Strip Trust Certificates Series Supplement (Lehman Abs Corp)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "“Trust Series [ ]”. The [NAME OFClass A and Class B] Certificates Trust, Series 199[__]-[SERIES DESIGNATION]", the Certificates evidencing certain undivided ownership interests therein shall be known as "the “[NAME OFClass A] Certificates, [·]% Callable Trust Certificates Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION[ ] Retained Interest" [and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "“[Class B] [·]% Callable Trust Certificates Series 199[__]-[SERIES DESIGNATION] Call Warrant"[ ],” respectively].
(b) The [Class A Certificates and the Class B] Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. A. The [Class A] Certificates shall be issued in minimum denominations of $1,000 Authorized Denominations and integral multiples of $1,000 thereof [and the Class B Certificates shall be issued in excess Authorized Denominations and integral multiples thereof]. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness. Notwithstanding anything to the contrary in the Trust Agreement, the Depositor may not increase the amount of the Underlying Securities in the Trust and the Trust may not issue a corresponding amount of additional Certificates.
(c) The Retained Interest [Class A] Certificates will be uncertificated entitled to receive (i) on each Distribution Date, commencing on [ ] and shall be as described in Schedule II attached hereto. The Retained Interest will be issued ending on the Final Scheduled Distribution Date, or such earlier date if the Underlying Securities are redeemed prior to the Depositor Final Scheduled Distribution Date, the Interest Payment Amount and may be transferred by (ii) on the Depositor to another party at the sole option Final Scheduled Distribution Date, a distribution of the Depositor without the consent aggregate principal amount of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records of the Trustee. Underlying Securities.
(d) [On each Distribution Date, payments the Class B Certificates will be made on entitled to receive the Retained Interest by wire transfer Class B Payments [and in connection with a redemption of the Underlying Securities, the Class B Present Value Amount.]
(e) Any reference to the account(s) principal amount of holder(s) thereof on the related Record Date Certificates shall be construed as specified in written instructions a reference to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder stated amount of the Retained Interest without [Class A Certificates and/or the consent notional principal amount of the holder of the Retained InterestClass B] Certificates, unless otherwise indicated.
Appears in 1 contract
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates Callable Treasury Strip Trust, Series 199[__]-[SERIES DESIGNATION]", 1997-USTS-2" the Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Callable Treasury Strip Trust Certificates, Series 199[__]-[SERIES DESIGNATION]", 1997-USTS-2" and the Retained Interest Call Rights evidencing certain undivided ownership interests in the remainder rights to purchase all of the Underlying Securities (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and the 1997-USTS-2 Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the Rights."Series 199[__]-[SERIES DESIGNATION] Call Warrant".
(b) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. The Certificates shall be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof. Except With the exception of the issuance of additional Certificates by the Trust in connection with the depositing, from time to time, of Additional Underlying Securities into the Trust by the Depositor, and except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness. Such additional Certificates may only be issued if they are identical to and fungible with the Certificates and the Additional Underlying Securities are similarly identical to and fungible with the Underlying Securities.
(c) The Retained Interest Call Rights will be uncertificated and shall be as described in Schedule II attached hereto. The Retained Interest Call Rights will initially be issued to the Depositor or an affiliate thereof in an initial aggregate amount of $150,000,000 (such amount will increase upon the deposit of Additional Underlying Securities into the Trust by the Depositor) representing the right to call the corresponding amount of Underlying Securities and may be transferred by the Depositor to another party in whole or in part at the sole option of the Depositor without the consent of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest Call Rights will be recorded on the records of the Trustee. On each Distribution the Redemption Date, payments payment will be made on the Retained Interest Call Rights by wire transfer to the account(s) account of holder(s) the holder thereof on the related Record Date as specified in written instructions to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder of the Retained Interest Rights Holder without the consent of the holder of Rights Holder; provided, however, that such consent shall not be necessary if the Retained InterestUnderlying Securities Issuer is then in default.
Appears in 1 contract
Sources: Callable Treasury Strip Trust Certificates Series Supplement (Lehman Abs Corp)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] PREFERREDPLUS Trust Series MSD-1". The Class A Certificates Trust, Series 199[__]-[SERIES DESIGNATION]", the and Class B Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Certificates, Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "PREFERREDPLUS Class A 7.05% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Retained InterestMSD-1" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "PREFERREDPLUS Class B 0.20% Trust Certificates Series 199[__]-[SERIES DESIGNATION] Call Warrant"MSD-1," respectively.
(b) The Class A Certificates and Class B Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. Exhibits B and C, respectively. The Class A Certificates shall be issued in minimum authorized denominations of $1,000 25 and integral multiples thereof and the Class B Certificates shall be issued with a notional principal amount of $1,000 in excess 25 and integral multiples thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness; provided, however, from time to time, upon obtaining prior written confirmation by each Rating Agency that such action will not result in a downgrading or withdrawal of its rating of the Certificates, the Depositor may, without the consent of the Certificateholders, increase the amount of the Underlying Securities in the Trust and the Trust may issue a corresponding amount of additional Certificates in accordance with Section 5.12(a) of the Standard Terms except that clauses (v), (vi) and (vii) of Section 5.12(a) shall not apply to this Series and a corresponding number of additional Warrants in accordance with Article I of the Warrant Agreement.
(c) The Retained Interest Class A Certificates will be uncertificated entitled to receive (i) on each Distribution Date, commencing on October 1, 2002 and shall be as described in Schedule II attached hereto. The Retained Interest will be issued ending on the Final Scheduled Distribution Date, or such earlier date if the Underlying Securities are redeemed prior to the Depositor and may be transferred by Final Scheduled Distribution Date, distributions at a rate of 7.05% per annum on the Depositor to another party at the sole option stated amount of the Depositor without Class A Certificates and (ii) on the consent Final Scheduled Distribution Date, a distribution of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records aggregate principal amount of the Trustee. Underlying Securities.
(d) On each Distribution Date, payments the Class B Certificates will be made on entitled to receive a distribution of 0.20% per annum multiplied by the Retained Interest by wire transfer notional principal amount of the Class B Certificates (the "Class B Payments").
(e) Any reference to the account(s) principal amount of holder(s) thereof on the related Record Date Certificates shall be construed as specified in written instructions a reference to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder stated amount of the Retained Interest without Class A Certificates and/or the consent notional principal amount of the holder of the Retained InterestClass B Certificates, unless otherwise indicated.
Appears in 1 contract
Sources: Series Supplement (Preferredplus Trust Series MSD-1)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates Callable Zero Coupon Trust, Series 199[__]-[SERIES DESIGNATION]", 1997-TVA-1" the Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Callable Zero Coupon Trust Certificates, Series 199[__]-[SERIES DESIGNATION]", 1997- TVA-1" and the Retained Interest Call Rights evidencing certain undivided ownership interests in the remainder rights to purchase all of the Underlying Securities (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and the 1997-TVA-1 Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the Rights."Series 199[__]-[SERIES DESIGNATION] Call Warrant".
(b) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. The Certificates shall be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtedness.
(c) The Retained Interest Call Rights will be uncertificated and shall be as described in Schedule II attached hereto. The Retained Interest Call Rights will initially be issued to the Depositor or an affiliate thereof in an initial aggregate amount of $322,546,000 representing the right to call the corresponding amount of Underlying Securities and may be transferred by the Depositor to another party in whole or in part at the sole option of the Depositor without the consent of the Certificateholders or any other party. The Call Rights are exercisable only at the direction of all of the holders thereof. The beneficial ownership interest in the Retained Interest Call Rights will be recorded on the records of the Trustee. On each Distribution the Redemption Date, payments payment will be made on the Retained Interest Call Rights by wire transfer to the account(s) account of holder(s) the holder thereof on the related Record Date as specified in written instructions to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder of the Retained Interest Rights Holders without the consent of such Rights Holders; provided, however, that such consent shall not be necessary if the holder of Underlying Securities Issuer is then in default under the Retained InterestUnderlying Securities Indenture.
Appears in 1 contract
Sources: Callable Zero Coupon Trust Certificates Series Supplement (Lehman Abs Corp)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates Corporate Backed Trust Certificates, Federal Express Corporation Note-Backed Series 2001-37 Trust, Series 199[__]-[SERIES DESIGNATION]", the ." The Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Corporate Backed Trust Certificates, Federal Express Corporation Note-Backed Series 199[__]-[SERIES DESIGNATION]2001-37." The Trust is also issuing call warrants with respect to the Certificates (", the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the Call Warrants"Series 199[__]-[SERIES DESIGNATION] Retained Interest" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Call Warrant").
(ba) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. A. The Certificates shall be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof10. Except as provided in the Standard TermsTerms and in paragraph (c) of this Section, the Trust shall not issue additional Certificates or incur any indebtedness.
(b) The Certificates have an initial aggregate certificate principal amount ("Certificate Principal Amount") of $10,100,000. The holders of the Certificates will be entitled to receive on each Distribution Date the interest, if any, received on the Underlying Securities to the extent necessary to pay interest at a rate of 7.75% per annum on the outstanding Certificate Principal Amount of Certificates. On January 1, 2002, the Trustee will pay to the Depositor the amount of interest accrued and paid on the Underlying Securities from July 1, 2001, to but not including the Closing Date. If Available Funds are insufficient to pay such amount, the Trustee will pay the Depositor its pro rata share, based on the ratio the amount owed to the Depositor bears to all amounts owed on the Certificates in respect of accrued interest, of any proceeds from the recovery on the Underlying Securities.
(c) The Retained Interest will be uncertificated and shall be as described in Schedule II attached hereto. The Retained Interest will be issued Depositor may sell to the Depositor and Trustee additional Underlying Securities on any date hereafter upon at least 3 Business Days (or such lesser period as may be transferred agreed by the Depositor parties hereto) notice to another party at the sole option Trustee and upon (i) satisfaction of the Depositor without the consent Rating Agency Condition and (ii) delivery of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records an Opinion of the Trustee. On each Distribution Date, payments will be made on the Retained Interest by wire transfer Counsel to the account(s) effect that the sale of holder(s) thereof on such additional Underlying Securities will not materially increase the related Record Date likelihood that the Trust would fail to qualify as specified in written instructions a grantor trust under the Code. Upon such sale to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree deposit such additional Underlying Securities in the Certificate Account, and shall authenticate and deliver to any amendment or modification of the Depositor, on its order, Certificates in the same proportion as the original Certificates bear to the initial Underlying Securities, as well as the Call Warrants related thereto. Any such additional Certificates authenticated and delivered shall have the same terms and rank pari passu with the original Certificates issued in accordance with this Agreement Series Supplement.
(including d) As a condition precedent for transferring the Standard Terms) which would adversely affect in any material respect Call Warrants, the holder prospective transferee shall be required to deliver to the Trustee and the Depositor, an executed copy of the Retained Interest without the consent of the holder of the Retained InterestInvestment Letter (set forth as Exhibit D hereto).
Appears in 1 contract
Sources: Corporate Backed Trust Certificates (Lehman Abs Corp)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates Callable Zero Coupon Trust, Series 199[__]-[SERIES DESIGNATION]2002-TVA-1", the . The Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Callable Zero Coupon Trust Certificates, Series 199[__]-[SERIES DESIGNATION]2002-TVA-1", . The Trust is also issuing call warrants with respect to the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities Certificates (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the Warrants"Series 199[__]-[SERIES DESIGNATION] Call Warrant").
(ba) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. A. The Certificates shall be issued in minimum notional denominations of $1,000 and integral multiples of $1,000 in excess thereof. Except as provided in the Standard TermsTerms and in paragraph (c) in this Section, the Trust shall not issue additional Certificates or additional Call Warrants or incur any indebtedness.
(b) The Certificates have an initial aggregate certificate principal amount (the "Certificate Principal Amount") of $500,000,000. The holders of the Certificates will be entitled to receive to the extent received on the Underlying Securities, a distribution of principal on the Scheduled Distribution Date, subject to the rights of the holders of the Call Warrants.
(c) The Retained Interest Depositor may sell to the Trustee additional Underlying Securities on any date hereafter upon at least 3 Business Days' notice to the Trustee and upon (i) satisfaction of the Rating Agency Condition and (ii) delivery of an Opinion of Counsel to the effect that the sale of such additional Underlying Securities will not cause the Trust to be uncertificated and taxed as an association or publicly traded partnership taxable as a corporation for federal income tax purposes. Each condition to be satisfied with respect to a sale of Underlying Securities on or prior to the Closing Date shall be as described in Schedule II attached hereto. The Retained Interest will be issued satisfied with respect to a sale of additional Underlying Securities no later than the Depositor 6 <PAGE> date of sale thereof, each representation and may be transferred by the Depositor to another party at the sole option of the Depositor without the consent of the Certificateholders or any other party. The beneficial ownership interest warranty set forth in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments will Standard Terms to be made on the Retained Interest Closing Date shall be made on such date of sale, and from and after such date of sale, all Underlying Securities held by wire transfer to the account(s) of holder(s) thereof Trustee shall be held on the related Record Date as specified in written instructions same terms and conditions. Upon such sale to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree deposit such additional Underlying Securities in the Certificate Account, and shall authenticate and deliver to any amendment or modification of this Agreement the Depositor, on its order, Certificates in a Certificate Principal Amount, and the Call Warrants related thereto.
(including d) As a condition precedent for transferring the Standard Terms) which would adversely affect in any material respect Call Warrants, the holder prospective transferee shall be required to deliver to the Trustee and the Depositor an executed copy of the Retained Interest without the consent of the holder of the Retained InterestInvestment Letter (set forth in Exhibit C hereto).
Appears in 1 contract
Sources: Series Supplement
Designation of Trust and Certificates. (a) The Trust ------------------------------------- trust created hereby shall be known as the "[NAME OFCorporate] [US Government] [Foreign] Bond-Backed Certificates Trust, Series 199[__]-[SERIES DESIGNATION[199[ ]", the ] [200[ ]]-[_]-[_]. The Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OFCorporate] [US Government] [Foreign] Bond-Backed Certificates, Series 199[__]-[SERIES DESIGNATION[199[ ]"] [200[ ]]-[_]-[_], [and the Retained Interest evidencing certain undivided ownership interests in the remainder of the [Underlying Securities Securities] [Deposited Assets] (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION[199[ ]] [200[ ]]-[_]-[_] Retained Interest" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Call Warrant"[and] [specify other assets].
(b) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. The Certificates shall be issued in minimum denominations of $1,000 [____] and integral multiples of $1,000 [___] in excess thereof, except that one Certificate [of each Class] may be issued in a different denomination. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any [additional] indebtedness.
(c) The Retained Interest will be uncertificated and shall be as described in Schedule II attached hereto. The Retained Interest will be issued to the Depositor and may be transferred by the Depositor to another party at the sole option of the Depositor without the consent of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments will be made on the Retained Interest by wire transfer to the account(s) of holder(s) thereof on the related Record Date as specified in written instructions to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder of the Retained Interest without the consent of the holder of the Retained Interest.the
Appears in 1 contract
Sources: Series Supplement Bond Backed Certificates (Lehman Abs Corp)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Corporate Backed Trust Certificates, Kinder Morgan Debenture-Backed Series 2002-6 Trust." The Certificates Trust, Series 199[__]-[SERIES DESIGNATION]", the Certificates evidencing certain undivided ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ivided ownership interests therein shall be known as "[NAME OF] Corporate Backed Trust Certificates, Kinder Morgan Debenture-Backed Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder 2002-6." The Certificates shall ▇▇▇▇▇▇▇ ▇▇ ▇ single class of the Underlying Securities Certificates (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and Certificates"). The Trust is also issuing call warrants with respect to the Certificates ("Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the Warrants"Series 199[__]-[SERIES DESIGNATION] Call Warrant").
(ba) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. A. The Certificates shall be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof10. Except as provided in the Standard TermsTerms and in paragraph (d) in this Section, the Trust shall not issue additional Certificates or additional Call Warrants or incur any indebtedness.
(b) The Certificates consist of 1,057,419 Certificates having an initial aggregate certificate principal amount (the "Certificate Principal Balance") of $10,574,190.
(c) The Retained Interest holders of the Certificates will be uncertificated entitled to receive on each Distribution Date the interest, if any, received on the Underlying Securities, to the extent necessary to pay interest at a rate of 7.75% per annum on the outstanding Certificate Principal Balance of the Certificates. On September 1, 2002, the Trustee will pay to the Depositor the amount of interest accrued and paid on the Underlying Securities from March 1, 2002, to but not including the Closing Date; provided, however, that in the event an Optional Exchange shall occur prior to September 1, 2002, a pro rata portion of such amount shall be paid to the Depositor on the Optional Exchange Date, in accordance with the provisions of Section 7(b)(vii) hereof. If Available Funds are insufficient to pay such amount, the Trustee will pay the Depositor its pro rata share, based on the ratio the amount owed to the Depositor bears to all amounts owed on the Certificates in respect of accrued interest, of any proceeds from the recovery on the Underlying Securities.
(d) The Depositor may sell to the Trustee additional Underlying Securities on any date hereafter upon at least 3 Business Days' notice to the Trustee (or such shorter period as described in Schedule II attached hereto. The Retained Interest will shall be issued mutually satisfactory to the Depositor and may be transferred by the Depositor to another party at the sole option Trustee) and upon (i) satisfaction of the Depositor without Rating Agency Condition and (ii) delivery of an Opinion of Counsel to the consent effect that the sale of such additional Underlying Securities will not cause the Certificateholders Trust to be taxed as an association or any other partypublicly traded partnership taxable as a corporation for federal income tax purposes. The beneficial ownership interest Each condition to be satisfied with respect to a sale of Underlying Securities on or prior to the Closing Date shall be satisfied with respect to a sale of additional Underlying Securities no later than the date of sale thereof, each representation and warranty set forth in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments will Standard Terms to be made on the Retained Interest Closing Date shall be made on such date of sale, and from and after such date of sale, all Underlying Securities held by wire transfer to the account(s) of holder(s) thereof Trustee shall be held on the related Record Date as specified in written instructions same terms and conditions. Upon such sale to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree deposit such additional Underlying Securities in the Certificate Account, and shall authenticate and deliver to the Depositor, on its order, Certificates, with an aggregate Certificate Principal Balance will be issued in the same proportion to the additional Underlying Securities as exists with respect to the Certificates and Underlying Securities, and the Call Warrants related thereto as described herein. Any such additional Certificates authenticated and delivered shall have the same terms and rank pari passu with any amendment or modification of Certificates previously issued in accordance with this Agreement Series Supplement.
(including e) As a condition precedent for transferring the Standard Terms) which would adversely affect in any material respect Call Warrants, the holder prospective transferee shall be required to deliver to the Trustee and the Depositor an executed copy of the Retained Interest without the consent of the holder of the Retained InterestInvestment Letter (set forth in Exhibit C hereto).
Appears in 1 contract
Sources: Corporate Backed Trust Certificates (Lehman Abs Corp Kinder Morgan Deben Backed Ser 2002-6)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be by the Initial Supplement is known as the "[NAME OF] Public STEERS(R) Series 1998 F-Z4 Trust". The Class A Certificates Trust, Series 199[__]-[SERIES DESIGNATION]", the and Class B Certificates evidencing certain undivided ownership interests therein shall be known as the "[NAME OF] Public STEERS(R) Trust Certificates, Series 199[__]-[SERIES DESIGNATION]"1998 F-Z4, the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained InterestClass A Trust Certificates" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto"Public STEERS(R) shall be known as the Trust Certificates, Series 1998 F-Z4, Class B Trust Certificates"Series 199[__]-[SERIES DESIGNATION] Call Warrant", respectively.
(b) The Class A Certificates and Class B Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. Exhibits B and C, respectively. The Certificates shall be issued in minimum authorized denominations of $1,000 5,000 (the "Authorized Denomination") and integral multiples thereof. On each Issue Date, one Class A Certificate and one Class B Certificate may be issued in an amount other than an integral multiple of $1,000 in excess thereofthe Authorized Denomination. Except as provided in the Standard TermsTerms and Section 15(a) hereof, the Trust shall not issue additional Certificates or incur any indebtedness.
(c) The Retained Interest will be uncertificated and shall be as described in Schedule II attached hereto. The Retained Interest will be issued to the Depositor and may be transferred by the Depositor to another party at the sole option of the Depositor without the consent of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments commencing on November 15, 1998 and ending on the Final Scheduled Distribution Date (or such earlier date if the maturity of the Underlying Securities is advanced), the Class A Certificates will be made entitled to receive the interest payment, if any, received on the Retained Interest Underlying Securities, which will represent a return of principal on the Class A Certificates and the payment of interest at a rate of 6.646% per annum on the Notional Amount of the Class A Certificates.
(d) On the Final Scheduled Distribution Date, the Class B Certificates will be entitled to a distribution of all of the Underlying Securities held by wire transfer the Trust as of such date. On or prior to the account(s) of holder(s) thereof on 60th day preceding the related Record Date as specified in written instructions to the Trustee. Notwithstanding any other provision of this AgreementFinal Scheduled Distribution Date, the Trustee shall not agree to any amendment or modification of this Agreement (including request instructions from the Standard Terms) which would adversely affect in any material respect the holder registered holders of the Retained Interest without Class B Certificates (by delivery of a notice to such registered holders) regarding the consent account or accounts to which transfer of the holder Underlying Securities should be made, and other information relevant to such transfer.
(e) Any reference to the principal amount of the Retained InterestCertificates shall be construed as a reference to the Notional Amount of the Class A Certificates and the principal amount at maturity of the Class B Certificates, unless otherwise indicated.
Appears in 1 contract
Sources: Series Supplement (Merrill Lynch Dep Inc Public Steers Trust Cert Ser 1998 F-Z4)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates Corporate Backed Trust Certificates, Kinder Morgan Debenture-Backed Series 2002-6 Trust, Series 199[__]-[SERIES DESIGNATION]", the Certificates evidencing certain ." The Certificat▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ undivided ownership interests therein shall be known as "[NAME OF] Corporate Backed Trust Certificates, Kinder Morgan Debenture-Backed Series 199[__]-[SERIES DESIGNATION]", the Retained Interest evidencing certain undivided ownership interests in the remainder 2002-6." The Certificates sha▇▇ ▇▇▇▇▇▇▇ ▇▇ a single class of the Underlying Securities Certificates (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and Certificates"). The Trust is also issuing call warrants with respect to the Certificates ("Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the Warrants"Series 199[__]-[SERIES DESIGNATION] Call Warrant").
(ba) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. A. The Certificates shall be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof10. Except as provided in the Standard TermsTerms and in paragraph (d) in this Section, the Trust shall not issue additional Certificates or additional Call Warrants or incur any indebtedness.
(b) The Certificates consist of 1,057,419 Certificates having an initial aggregate certificate principal amount (the "Certificate Principal Balance") of $10,574,190.
(c) The Retained Interest holders of the Certificates will be uncertificated entitled to receive on each Distribution Date the interest, if any, received on the Underlying Securities, to the extent necessary to pay interest at a rate of 7.75% per annum on the outstanding Certificate Principal Balance of the Certificates. On September 1, 2002, the Trustee will pay to the Depositor the amount of interest accrued and paid on the Underlying Securities from March 1, 2002, to but not including the Closing Date; provided, however, that in the event an Optional Exchange shall occur prior to September 1, 2002, a pro rata portion of such amount shall be paid to the Depositor on the Optional Exchange Date, in accordance with the provisions of Section 7(b)(vii) hereof. If Available Funds are insufficient to pay such amount, the Trustee will pay the Depositor its pro rata share, based on the ratio the amount owed to the Depositor bears to all amounts owed on the Certificates in respect of accrued interest, of any proceeds from the recovery on the Underlying Securities.
(d) The Depositor may sell to the Trustee additional Underlying Securities on any date hereafter upon at least 3 Business Days' notice to the Trustee (or such shorter period as described in Schedule II attached hereto. The Retained Interest will shall be issued mutually satisfactory to the Depositor and may be transferred by the Depositor to another party at the sole option Trustee) and upon (i) satisfaction of the Depositor without Rating Agency Condition and (ii) delivery of an Opinion of Counsel to the consent effect that the sale of such additional Underlying Securities will not cause the Certificateholders Trust to be taxed as an association or any other partypublicly traded partnership taxable as a corporation for federal income tax purposes. The beneficial ownership interest Each condition to be satisfied with respect to a sale of Underlying Securities on or prior to the Closing Date shall be satisfied with respect to a sale of additional Underlying Securities no later than the date of sale thereof, each representation and warranty set forth in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments will Standard Terms to be made on the Retained Interest Closing Date shall be made on such date of sale, and from and after such date of sale, all Underlying Securities held by wire transfer to the account(s) of holder(s) thereof Trustee shall be held on the related Record Date as specified in written instructions same terms and conditions. Upon such sale to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree deposit such additional Underlying Securities in the Certificate Account, and shall authenticate and deliver to the Depositor, on its order, Certificates, with an aggregate Certificate Principal Balance will be issued in the same proportion to the additional Underlying Securities as exists with respect to the Certificates and Underlying Securities, and the Call Warrants related thereto as described herein. Any such additional Certificates authenticated and delivered shall have the same terms and rank pari passu with any amendment or modification of Certificates previously issued in accordance with this Agreement Series Supplement.
(including e) As a condition precedent for transferring the Standard Terms) which would adversely affect in any material respect Call Warrants, the holder prospective transferee shall be required to deliver to the Trustee and the Depositor an executed copy of the Retained Interest without the consent of the holder of the Retained InterestInvestment Letter (set forth in Exhibit C hereto).
Appears in 1 contract
Sources: Series Supplement (Lehman Abs Corp Kinder Morgan Deben Backed Ser 2002-6)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- trust created hereby shall be known as the "[NAME OF] “Freedom Certificates Trust, Series 199[__]-[SERIES DESIGNATION2003-[_]", the . The Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] “Freedom Certificates, Series 199[__]-[SERIES DESIGNATION2003-[_]", [and the Retained Interest evidencing certain undivided ownership interests in the remainder of the [Underlying Securities Securities] [Deposited Assets] (as described on Schedule II hereto) shall be known as the "“Series 199[__]-[SERIES DESIGNATION2003-[_] Retained Interest" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION”] Call Warrant"[and] [specify other assets].
(b) The Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. The Certificates shall be issued in minimum denominations of $1,000 [____] and integral multiples of $1,000 [___] in excess thereof, except that one Certificate [of each Class] may be issued in a different denomination. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any [additional] indebtedness.
(c) [The Retained Interest will be uncertificated and shall be as described in Schedule II attached hereto. The Retained Interest will be issued to the Depositor and may be transferred by the Depositor to another party at the sole option of the Depositor without the consent of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments will be made on the Retained Interest by wire transfer to the account(s) of holder(s) thereof on the related Record Date as specified in written instructions to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree to any amendment or modification of this Agreement (including the Standard Terms) which that would adversely affect in any material respect the holder of the Retained Interest without the consent of the holder of the Retained Interest.]
(d) [Describe other assets.]
Appears in 1 contract
Sources: Series Supplement Freedom Certificates (Freedom Depository LLC)
Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be by the Initial Supplement is known as the "[NAME OF] Public STEERS(R) Series 1998 IBM-Z2 Trust". The Class A Certificates Trust, Series 199[__]-[SERIES DESIGNATION]", the and Class B Certificates evidencing certain undivided ownership interests therein shall be known as the "[NAME OF] Public STEERS(R) Trust Certificates, Series 199[__]-[SERIES DESIGNATION]"1998 IBM-Z2, the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained InterestClass A Trust Certificates" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto"Public STEERS(R) shall be known as the Trust Certificates, Series 1998 IBM-Z2, Class B Trust Certificates"Series 199[__]-[SERIES DESIGNATION] Call Warrant", respectively.
(b) The Class A Certificates and Class B Certificates shall be held through the Depository in book- book-entry form and shall be substantially in the form attached hereto as Exhibit B. Exhibits B and C, respectively. The Certificates shall be issued in minimum authorized denominations of $1,000 (the "Authorized Denomination") and integral multiples thereof. On each Issue Date, one Class A Certificate and one Class B Certificate may be issued in an amount other than an integral multiple of $1,000 in excess thereofthe Authorized Denomination. Except as provided in the Standard TermsTerms and Section 15(b) hereof, the Trust shall not issue additional Certificates or incur any indebtedness.
(c) The Retained Interest will be uncertificated and shall be as described in Schedule II attached hereto. The Retained Interest will be issued to the Depositor and may be transferred by the Depositor to another party at the sole option of the Depositor without the consent of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records of the Trustee. On each Distribution Date, payments commencing on June 1, 1998 and ending on the Final Scheduled Distribution Date (or such earlier date if the maturity of the Underlying Securities is advanced), the Class A Certificates will be made entitled to receive the interest payment, if any, received on the Retained Interest Underlying Securities, which will represent a return of principal on the Class A Certificates and the payment of interest at a rate of 6.415% per annum on the notional principal amount of the Class A Certificates.
(d) On the Final Scheduled Distribution Date, the Class B Certificates will be entitled to a distribution of all of the Underlying Securities held by wire transfer the Trust as of such date. On or prior to the account(s) of holder(s) thereof on 60th day preceding the related Record Date as specified in written instructions to the Trustee. Notwithstanding any other provision of this AgreementFinal Scheduled Distribution Date, the Trustee shall not agree to any amendment or modification of this Agreement (including request instructions from the Standard Terms) which would adversely affect in any material respect the holder registered holders of the Retained Interest without Class B Certificates (by delivery of a notice to such registered holders) regarding the consent account or accounts to which transfer of the holder Underlying Securities should be made, and other information relevant to such transfer.
(e) Any reference to the principal amount of the Retained InterestCertificates shall be construed as a reference to the amortized amount of the Class A Certificates and the principal amount at maturity of the Class B Certificates, unless otherwise indicated.
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Designation of Trust and Certificates. (a) The Trust ------------------------------------- created hereby shall be known as the "[NAME OF] Certificates TrustCorporate-Backed Trust Certificates, Series 199[__]-[SERIES DESIGNATION]", the 200_-[ ] Trust." The Certificates evidencing certain undivided ownership interests therein shall be known as "[NAME OF] Corporate Backed Trust Certificates, Series 199[__]-[SERIES DESIGNATION200_-[ ]"." The Certificates shall consist of the Class [A-1] Certificates and the Class [A-2] Certificates (together, the Retained Interest evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule II hereto) shall be known as the "Series 199[__]-[SERIES DESIGNATION] Retained Interest" and the Call Warrant evidencing certain undivided ownership interests in the remainder of the Underlying Securities (as described on Schedule III hereto) shall be known as the Certificates"Series 199[__]-[SERIES DESIGNATION] Call Warrant").
(b) The Class [A-1] Certificates shall be held through have an initial aggregate Certificate Principal Amount of [ ]. The Class [A-2] Certificates are interest-only Certificates, and have a notional principal amount equal to the Depository in book- entry form and shall be substantially in Certificate Principal Amount of the form attached hereto as Exhibit B. The Certificates shall be issued in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof. Except as provided in the Standard Terms, the Trust shall not issue additional Certificates or incur any indebtednessClass [A-1] Certificates.
(c) The Retained Interest holders of the Class [A-1] Certificates will be uncertificated and shall be as described in Schedule II attached heretoentitled to receive on each Distribution Date the interest, if any, received on the Underlying Securities, to the extent necessary to pay interest at a rate of [ ]% per annum on the outstanding Certificate Principal Amount of the Class [A-1] Certificates. The Retained Interest holders of the Class [A-2] Certificates will be issued entitled to receive on each Distribution Date the interest, if any, received on the Underlying Securities, to the extent necessary to pay interest at a rate of [ ____ ]% per annum on the outstanding notional principal amount of the Class [A-2] Certificates. On [ ________ ], the Trustee will pay to the Depositor the amount of interest accrued on the Underlying Securities from [ ___________ ] to but not including the Closing Date.]
(d) The Depositor may sell to the Trustee additional Underlying Securities on any date hereafter upon at least 3 Business Days notice to the Trustee and may be transferred by the Depositor to another party at the sole option upon (i) satisfaction of the Depositor without the consent Rating Agency Condition and (ii) delivery of the Certificateholders or any other party. The beneficial ownership interest in the Retained Interest will be recorded on the records an Opinion of the Trustee. On each Distribution Date, payments will be made on the Retained Interest by wire transfer Counsel to the account(s) effect that the sale of holder(s) thereof on such additional Underlying Securities will not materially increase the related Record Date likelihood that the Trust would fail to qualify as specified in written instructions a grantor trust under the Code. Upon such sale to the Trustee. Notwithstanding any other provision of this Agreement, the Trustee shall not agree deposit such additional Underlying Securities in the Certificate Account, and shall authenticate and deliver to any amendment the Depositor, or modification its order, [Class A-1] Certificates in a Certificate Principal Amount, and [Class A-2] Certificates in [a notional amount], equal to the principal amount of such additional Underlying Securities. Any such additional Certificates authenticated and delivered shall have the same terms and rank pari passu with the corresponding classes of Certificates previously issued in accordance with this Agreement (including the Standard Terms) which would adversely affect in any material respect the holder of the Retained Interest without the consent of the holder of the Retained InterestSeries Supplement.
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