Common use of Exchange Act Reporting Termination Clause in Contracts

Exchange Act Reporting Termination. (a) If the Trustor receives actual notice that an Exchange Act Reporting Event has occurred, the Trustor may, on behalf of the Trust, take any actions as the Trustor may determine are reasonably necessary to withdraw the Class A Certificates from listing on the New York Stock Exchange and to terminate of the reporting obligations of the Trust under the Exchange Act with respect to the Class A Certificates (an “Exchange Act Reporting Termination”), including but not limited to any of the following: (i) prepare and file written notice with the New York Stock Exchange of the Trust’s determination to withdraw the Class A Certificates from listing on the New York Stock Exchange, which written notice shall include a description of the Class A Certificates, together with a statement of the material facts relating to the reasons for withdrawal from listing, and such other information as the Trustor shall determine to be necessary or appropriate to satisfy the requirements of the New York Stock Exchange and the applicable rules and regulations under the Exchange Act; (ii) prepare and issue one or more press releases describing the actions to be taken by the Trust, and the Trustor on its behalf, in connection with withdrawal from listing and registration, and file a copy of any such press release with the Securities and Exchange Commission; (iii) at such time as may be prescribed under applicable rules promulgated under the Exchange Act following submission of such application to the New York Stock Exchange, prepare and file a completed Form 25 (or any applicable successor form), together with a copy of such application to the New York Stock Exchange, if necessary, with the Securities and Exchange Commission notifying the Securities and Exchange Commission of the Trust’s withdrawal of the Class A Certificates from the New York Stock Exchange and its intention to withdraw the Class A Certificates from registration under Section 12(b) the Exchange Act; and (iv) file a certification on Form 15 (or any applicable successor form) providing notice of termination of the reporting obligations of the Trust under the Exchange Act with respect to the Class A Certificates (a “Reporting Termination Form”), if and to the extent that the Trustor determines in its reasonable, good faith discretion that the Trust meets the requirements for filing such Reporting Termination Form with respect to Certificates under Rule 12g-4 under the Exchange Act or any other applicable provisions of the Exchange Act and that such filing is necessary or appropriate to terminate the Trust’s Exchange Act filing requirements; The Trustor shall not have any obligations to take action under this Section 37. The Trustor may not take any actions under this Section 37 unless and until the Trustor has received actual notice that an Exchange Act Reporting Event has occurred. (b) Notwithstanding any provision to the contrary in the Series Supplement, if no Exchange Act Reporting Termination has been effected prior to a date which is five (5) Business Days prior to the Latest Exchange Act Reporting Date, a Trust Termination Event shall occur in accordance with Section 10(g) and the Trust shall liquidate before the Latest Exchange Act Reporting Date.

Appears in 1 contract

Sources: Strats(sm) Certificates Series Supplement 2007 1 (STRATS (SM) Trust for Ambac Financial Group, Inc. Securities, Series 2007-1)

Exchange Act Reporting Termination. (a) If the Trustor receives actual notice that an Exchange Act Reporting Event has occurred, the Trustor mayshall, on behalf of the Trust, take any actions as the Trustor may determine are reasonably necessary to withdraw the Class A Certificates from listing on the New York Stock Exchange and to terminate of the reporting obligations of the Trust under the Exchange Act with respect to the Class A Certificates (an “Exchange Act Reporting Termination”), including but not limited to any of the following: (i) prepare and file written notice with the New York Stock Exchange of the Trust’s determination to withdraw the Class A Certificates from listing on the New York Stock Exchange, which written notice shall include a description of the Class A Certificates, together with a statement of the material facts relating to the reasons for withdrawal from listing, and such other information as the Trustor shall determine to be necessary or appropriate to satisfy the requirements of the New York Stock Exchange and the applicable rules and regulations under the Exchange Act; (ii) prepare and issue one or more press releases describing the actions to be taken by the Trust, and the Trustor on its behalf, in connection with withdrawal from listing and registration, and file a copy of any such press release with the Securities and Exchange Commission; (iii) at such time as may be prescribed under applicable rules promulgated under the Exchange Act following submission of such application to the New York Stock Exchange, prepare and file a completed Form 25 (or any applicable successor form), together with a copy of such application to the New York Stock Exchange, if necessary, with the Securities and Exchange Commission notifying the Securities and Exchange Commission of the Trust’s withdrawal of the Class A Certificates from the New York Stock Exchange and its intention to withdraw the Class A Certificates from registration under Section 12(b) the Exchange Act; and (iv) file a certification on Form 15 (or any applicable successor form) providing notice of termination of the reporting obligations of the Trust under the Exchange Act with respect to the Class A Certificates (a “Reporting Termination Form”), if and to the extent that the Trustor determines in its reasonable, good faith discretion that the Trust meets the requirements for filing such Reporting Termination Form with respect to Certificates under Rule 12g-4 under the Exchange Act or any other applicable provisions of the Exchange Act and that such filing is necessary or appropriate to terminate the Trust’s Exchange Act filing requirements; (satisfaction of the conditions in the foregoing clauses (i), (ii), (iii) and (iv), an “Exchange Act Reporting Termination”). The Trustor shall not have any obligations to take action duties under this Section 37. The Trustor may not take any actions under this Section 37 35, unless and until the Trustor has received actual notice that an Exchange Act Reporting Event has occurred. (b) Notwithstanding any provision to the contrary in the Series Supplement, if no Exchange Act Reporting Termination has been effected prior to a date which is five (5) 5 Business Days prior to the Latest Exchange Act Reporting Date, a Trust Termination Event shall occur in accordance with Section 10(g) and the Trust shall liquidate before the Latest Exchange Act Reporting Date.

Appears in 1 contract

Sources: Supplemental Trust Agreement (Synthetic Fixed Income Securities Inc)

Exchange Act Reporting Termination. (a) If the Trustor receives actual notice that an Exchange Act Reporting Event has occurred, the Trustor may, on behalf of the Trust, take any actions as the Trustor may determine are reasonably necessary to withdraw the Class A Certificates from listing on the New York Stock Exchange and to terminate of the reporting obligations of the Trust under the Exchange Act with respect to the Class A Certificates (an "Exchange Act Reporting Termination"), including but not limited to any of the following: (i) prepare and file written notice with the New York Stock Exchange of the Trust’s 's determination to withdraw the Class A Certificates from listing on the New York Stock Exchange, which written notice shall include a description of the Class A Certificates, together with a statement of the material facts relating to the reasons for withdrawal from listing, and such other information as the Trustor shall determine to be necessary or appropriate to satisfy the requirements of the New York Stock Exchange and the applicable rules and regulations under the Exchange Act; (ii) prepare and issue one or more press releases describing the actions to be taken by the Trust, and the Trustor on its behalf, in connection with withdrawal from listing and registration, and file a copy of any such press release with the Securities and Exchange Commission; (iii) at such time as may be prescribed under applicable rules promulgated under the Exchange Act following submission of such application to the New York Stock Exchange, prepare and file a completed Form 25 (or any applicable successor form), together with a copy of such application to the New York Stock Exchange, if necessary, with the Securities and Exchange Commission notifying the Securities and Exchange Commission of the Trust’s 's withdrawal of the Class A Certificates from the New York Stock Exchange and its intention to withdraw the Class A Certificates from registration under Section 12(b) the Exchange Act; and (iv) file a certification on Form 15 (or any applicable successor form) providing notice of termination of the reporting obligations of the Trust under the Exchange Act with respect to the Class A Certificates (a "Reporting Termination Form"), if and to the extent that the Trustor determines in its reasonable, good faith discretion that the Trust meets the requirements for filing such Reporting Termination Form with respect to Certificates under Rule 12g-4 under the Exchange Act or any other applicable provisions of the Exchange Act and that such filing is necessary or appropriate to terminate the Trust’s 's Exchange Act filing requirements; The Trustor shall not have any obligations to take action under this Section 37. The Trustor may not take any actions under this Section 37 unless and until the Trustor has received actual notice that an Exchange Act Reporting Event has occurred. (b) Notwithstanding any provision to the contrary in the Series Supplement, if no Exchange Act Reporting Termination has been effected prior to a date which is five (5) Business Days prior to the Latest Exchange Act Reporting Date, a Trust Termination Event shall occur in accordance with Section 10(g) and the Trust shall liquidate before the Latest Exchange Act Reporting Date.

Appears in 1 contract

Sources: Strats(sm) Certificates Series Supplement 2007 2 (STRATS(SM) Trust for BNSF Funding Trust I Securities, Series 2007-2)