Common use of Liquidation Events Clause in Contracts

Liquidation Events. (a) In the event that (i) a Security Default shall occur which under the terms of the Swap Agreement results in the termination of at least one but fewer than all Transactions under the Swap Agreement or (ii) any Security held by the Trust becomes a Disqualified Security, but the Trust holds one or more other Securities which are not Disqualified Securities, and a Trust Wind-Up Event has not otherwise occurred, then the Affected Securities (and, if necessary, other Trust Property) shall be sold to the extent necessary to pay any Termination Payment applicable to the Affected Transaction under the Swap Agreement, and the remainder distributed to the Unitholders in accordance with Section 9.03, but the Trust shall continue thereafter. (b) In the event that any Transaction under a Swap Agreement becomes a Disqualified Transaction but the Trust holds one or more other Securities other than the Affected Securities which are not Disqualified Securities and a Trust Wind-Up Event has not otherwise occurred, then the Affected Securities (and, if necessary, other Trust Property) shall be sold to the extent necessary to pay any Termination Payment applicable to the Disqualified Transaction under the Swap Agreement, and the remainder distributed to the Unitholders in accordance with Section 9.03, but the Trust shall continue thereafter. (c) In the event that any Credit Support becomes Disqualified Credit Support but a Trust Wind-Up Event has not otherwise occurred, then such Credit Support shall be terminated and any proceeds of such termination shall be distributed pro rata to the Unitholders, but the Trust shall continue thereafter.

Liquidation Events. (a) In the event that (i) a Security Default shall occur occurs which under the terms of the Swap Agreement results in the termination of at least one but fewer less than all Swap Transactions under the Swap Agreement or (ii) any Security held by the Trust becomes a Disqualified Security, but the Trust holds one or more other Securities which are not Disqualified Securities, and in each case of clauses (i) and (ii), a Trust Wind-Up Event has not otherwise occurred, then the Affected Securities (and, if necessary, other Trust Property) shall be sold in accordance with Section 9.03(b) to the extent necessary to pay make any Termination Payment applicable to the Affected Transaction under the Swap AgreementTransaction, and any balance of the remainder proceeds from such sale shall be distributed to the Unitholders Certificateholders in accordance with Section 9.039.03(d), but the Trust shall continue thereaftercontinue. (b) In the event that any Swap Transaction under a Swap Agreement becomes a Disqualified Swap Transaction but the Trust holds one or more other Securities other than the Affected Securities which are not Disqualified Securities and a Trust Wind-Up Event has not otherwise occurred, then the Affected Securities (and, if necessary, other Trust Property) shall be sold in accordance with Section 9.03(b) to the extent necessary to pay make any Termination Payment applicable to the Disqualified Transaction under the Swap AgreementTransaction, and any balance of the remainder proceeds from such sale shall be distributed to the Unitholders Certificateholders in accordance with Section 9.039.03(d), but the Trust shall continue thereaftercontinue. (c) In the event that any Credit Support becomes Disqualified Credit Support but a Trust Wind-Up Event has not otherwise occurred, then such Credit Support shall be terminated and any proceeds of resulting from such termination shall be distributed pro rata to the UnitholdersCertificateholders in accordance with Section 9.03(d), but the Trust shall continue thereaftercontinue.

Liquidation Events. (a) In the event that (i) a an Underlying Security Default shall occur which under the terms of the Swap Agreement results in the termination of at least one but fewer than all Transactions under the Swap Agreement or (ii) any Underlying Security held by the Trust becomes a Disqualified Underlying Security, but the Trust holds one or more other Underlying Securities which are not Disqualified Underlying Securities, and a Trust Wind-Up Event has not otherwise occurred, then the Affected Underlying Securities (and, if necessary, other Trust Property) shall be sold to the extent necessary to pay any Termination Payment applicable to the Affected Transaction under the Swap Agreement, and the remainder distributed to the Unitholders Holders in accordance with Section 9.03, but the Trust shall continue thereafter. (b) In the event that any Transaction under a Swap Agreement becomes a Disqualified Transaction but the Trust holds one or more other Underlying Securities other than the Affected Underlying Securities which are not Disqualified Underlying Securities and a Trust Wind-Up Event has not otherwise occurred, then the Affected Underlying Securities (and, if necessary, other Trust Property) shall be sold to the extent necessary to pay any Termination Payment applicable to the Disqualified Transaction under the Swap Agreement, and the remainder distributed to the Unitholders Holders in accordance with Section 9.03, but the Trust shall continue thereafter. (c) In the event that any Credit Support becomes Disqualified Credit Support but a Trust Wind-Up Event has not otherwise occurred, then such Credit Support shall be terminated and any proceeds of such termination shall be distributed pro rata to the UnitholdersHolders, but the Trust shall continue thereafter.