Common use of Distribution Agent Clause in Contracts

Distribution Agent. On any Business Day on which any Unit or Units are tendered for redemption (the "Redemption Day") by a Unitholder or his duly authorized attorney to the Trustee at its unit investment trust office in the City of New York not later than the Evaluation Time, such Units shall be redeemed by the Trustee on that Redemption Day. Units in uncertificated form shall be tendered by means of an appropriate request for redemption in form approved by the Trustee. Unitholders must sign exactly as their name appears on the register with the signature guaranteed by a participant in a signature guarantee program acceptable to the Trustee, or in such other manner as may be acceptable to the Trustee. The Trustee may also require additional documents such as, but not limited to, trust instruments, certificates of death, appointments as executor or administrator or certificates of corporate authority. Subject to payment by such Unitholder of any tax or other governmental charges which may be imposed thereon, such redemption is to be made by distribution to the Distribution Agent on behalf of the redeeming Unitholder on the Redemption Day of (i) the Unitholder's pro rata portion as of the Redemption Day of the Securities in the Trust as designated by the Depositor and (ii) the Unitholder's pro rata portion of the cash in the Trust as of the Redemption Day (herein called the "Redemption Distribution"). The Distribution Agent will dispose of such assets in accordance with the provisions of the Distribution Agent Agreement. Fractional interests in shares distributed to the Distribution Agent, which are not included in the Redemption Distribution, shall be held in trust by the Distribution Agent, which is hereby designated a subcustodian of the Trustee with respect to such fractional interests, and shall be subject to such disposition as the Depositor shall direct. Units received for redemption by the Trustee on any date after the Evaluation Time will be held by the Trustee until the next Business Day on which the New York Stock Exchange is open for trading and will be deemed to have been tendered on such day for redemption at the Redemption Price computed on that day. Units tendered for redemption by the Depositors on any Business Day shall be deemed to have been tendered before the Evaluation Time on such Business Day provided that the Depositors advise the Trustee before the later of the Trustee's close of business and 5:00 pm New York City time. By such advice, the Depositors will be deemed to certify that all Units so tendered were either (a) tendered to the Depositors or to a retail dealer between the Evaluation Time on the preceding Business Day and the Evaluation Time on such Business Day or (b) acquired previously by the Depositors but which the Depositors determined to redeem prior to the Evaluation Time on such Business Day. The portion of the Redemption Distribution which represents the Unitholder's interest in the Income Account shall be withdrawn from the Income Account to the extent available. The balance paid on any redemption, including dividends receivable on stocks trading ex dividend, if any, shall be withdrawn from the Principal Account to the extent that funds are available for such purpose. If such available balance shall be insufficient, the Trustee shall advance funds sufficient to pay such amount to the Unitholder and shall be entitled to reimbursement of such advance upon the deposit of additional monies in the Income Account or Principal Account, whichever happens first. Should any amounts so advanced with respect to declared but unreceived dividends prove uncollectible because of default in payment of such dividends, the Trustee shall have the right immediately to liquidate Securities in amount sufficient to reimburse itself for such advances, without interest. In the event that funds are withdrawn from the Principal Account for payment of any portion of the Redemption Distribution representing dividends receivable on stocks trading ex dividend, the Principal Account shall be reimbursed when sufficient funds are next available in the Income Account for such funds so applied. Unitholders requesting or required to receive a cash distribution shall receive such distribution in accordance with the applicable provisions of the Distribution Agency Agreement."

Distribution Agent. On any Business Day on which any Unit or Units are tendered for redemption (the "Redemption Day") by a Unitholder Unit Holder or his duly authorized attorney to the Trustee at its unit investment corporate trust office in the City of New York not later than the Evaluation TimeYork, such Units shall be redeemed by the Trustee on that Redemption Day. Units in uncertificated form shall be tendered by means of an appropriate request for redemption in form approved by the Trustee. Unitholders Unit Holders must sign exactly as their name appears on the register with the signature guaranteed by an officer of a participant in national bank or trust company, or by a signature guarantee program acceptable to member firm of either the TrusteeNew York, Midwest, or Pacific Coast Stock Ex- changes, or in such other manner as may be acceptable to the Trustee. The Trustee may also require additional addi- tional documents such as, but not limited to, trust instruments, certificates of death, appointments as executor or administrator or certificates of corporate corpo- rate authority. Subject to payment by such Unitholder Unit Holder of any tax or other governmental charges which may be imposed thereon, such redemption is to be made by distribution to the Distribution Agent on behalf of the redeeming Unitholder Unit Holder on the Redemption Day of (i) the UnitholderUnit Holder's pro rata portion as of the Redemption Re- demption Day of the Securities in the Trust as designated desig- nated by the Depositor and (ii) the UnitholderUnit Holder's pro rata portion of the cash in the Trust as of the Redemption Re- demption Day (herein called the "Redemption DistributionDistribu- tion"). The Distribution Agent will dispose of such assets in accordance with the provisions of the Distribution Agent Dis- tribution Agency Agreement. Fractional interests in shares distributed to the Distribution Agent, which are not included in the Redemption Distribution, shall be held in trust by the Distribution Agent, which is hereby designated a subcustodian of the Trustee with respect to such fractional interests, and shall be subject to such disposition as the Depositor De- positor shall direct. Units received for redemption by the Trustee on any date after the Evaluation Time will be held by the Trustee until the next Business Day on which the New York Stock Exchange is open for trading and will be deemed to have been tendered on such day for redemption at the Redemption Price computed com- puted on that day. Units tendered for redemption by the Depositors Depositor on any Business Day shall be deemed to have been tendered before the Evaluation Time on such Business Day provided that the Depositors advise Depositor advises the Trustee before the later of the Trustee's close of business and 5:00 pm PM New York City time. By such advicead- vice, the Depositors Depositor will be deemed to certify that all Units so tendered were either (a) tendered to the Depositors Depositor or to a retail dealer between the Evaluation Evalua- tion Time on the preceding Business Day and the Evaluation Time on such Business Day or (b) acquired previously by the Depositors Depositor but which the Depositors Depositor determined to redeem prior to the Evaluation Time on such Business Day. The portion of the Redemption Distribution which represents rep- resents the UnitholderUnit Holder's interest in the Income Account Ac- count shall be withdrawn from the Income Account to the extent available. The balance paid on any redemptionre- demption, including dividends receivable on stocks trading ex dividend, if any, shall be withdrawn from the Principal Account to the extent that funds are available for such purpose. If such available balance bal- ance shall be insufficient, the Trustee shall advance funds sufficient to pay such amount to the Unitholder Unit Holder and shall be entitled to reimbursement of such advance upon the deposit of additional monies in the Income Account or Principal Account, whichever happens hap- pens first. Should any amounts so advanced with respect re- spect to declared but unreceived dividends prove uncollectible un- collectable because of default in payment of such dividends, the Trustee shall have the right immediately immedi- ately to liquidate Securities in amount sufficient to reimburse itself for such advances, without interest. In the event that funds are withdrawn from the Principal Prin- cipal Account for payment of any portion of the Redemption Re- demption Distribution representing dividends receivable receiv- able on stocks trading ex dividend, the Principal Account Ac- count shall be reimbursed when sufficient funds are next available in the Income Account for such funds so applied. Unitholders Unit Holders requesting or required to receive a cash distribution shall receive such distribution in accordance ac- cordance with the applicable provisions of the Distribution Dis- tribution Agency Agreement."

Distribution Agent. On any Business Day on which any Unit or Units are tendered for redemption (the "Redemption Day") by a Unitholder or his duly authorized attorney to the Trustee at its unit investment trust office in the City of New York not later than the Evaluation Time, such Units shall be redeemed by the Trustee on that Redemption Day. Units in uncertificated form shall be tendered by means of an appropriate request for redemption in form approved by the Trustee. Unitholders must sign exactly as their name appears on the register with the signature guaranteed by a participant in a signature guarantee program acceptable to the Trustee, or in such other manner as may be acceptable to the Trustee. The Trustee may also require additional documents such as, but not limited to, trust instruments, certificates of death, appointments as executor or administrator or certificates of corporate authority. Subject to payment by such Unitholder of any tax or other governmental charges which may be imposed thereon, such redemption is to be made by distribution to the Distribution Agent on behalf of the redeeming Unitholder on the Redemption Day of (i) the Unitholder's pro rata portion as of the Redemption Day of the Securities in the Trust as designated by the Depositor and (ii) the Unitholder's pro rata portion of the cash in the Trust as of the Redemption Day (herein called the "Redemption Distribution"). The Distribution Agent will dispose of such assets in accordance with the provisions of the Distribution Agent Agreement. Fractional interests in shares distributed to the Distribution Agent, which are not included in the Redemption Distribution, shall be held in trust by the Distribution Agent, which is hereby designated a subcustodian of the Trustee with respect to such fractional interests, and shall be subject to such disposition as the Depositor shall direct. Units received for redemption by the Trustee on any date after the Evaluation Time will be held by the Trustee until the next Business Day on which the New York Stock Exchange is open for trading and will be deemed to have been tendered on such day for redemption at the Redemption Price computed on that day. Units tendered for redemption by the Depositors on any Business Day shall be deemed to have been tendered before the Evaluation Time on such Business Day provided that the Depositors advise the Trustee before the later of the Trustee's close of business and 5:00 pm New York City p.m. Eastern time. By such advice, the Depositors will be deemed to certify that all Units so tendered were either (a) tendered to the Depositors or to a retail dealer between the Evaluation Time on the preceding Business Day and the Evaluation Time on such Business Day or (b) acquired previously by the Depositors but which the Depositors determined to redeem prior to the Evaluation Time on such Business Day. The portion of the Redemption Distribution which represents the Unitholder's interest in the Income Account shall be withdrawn from the Income Account to the extent available. The balance paid on any redemption, including dividends receivable on stocks trading ex dividend, if any, shall be withdrawn from the Principal Account to the extent that funds are available for such purpose. If such available balance shall be insufficient, the Trustee shall advance funds sufficient to pay such amount to the Unitholder and shall be entitled to reimbursement of such advance upon the deposit of additional monies in the Income Account or Principal Account, whichever happens first. Should any amounts so advanced with respect to declared but unreceived dividends prove uncollectible because of default in payment of such dividends, the Trustee shall have the right immediately to liquidate Securities in amount sufficient to reimburse itself for such advances, without interest. In the event that funds are withdrawn from the Principal Account for payment of any portion of the Redemption Distribution representing dividends receivable on stocks trading ex dividend, the Principal Account shall be reimbursed when sufficient funds are next available in the Income Account for such funds so applied. Unitholders requesting or required to receive a cash distribution shall receive such distribution in accordance with the applicable provisions of the Distribution Agency Agreement."

Distribution Agent. On any Business Day on which any Unit or Units are tendered for redemption (the "Redemption Day") by a Unitholder Unit Holder or his duly authorized attorney to the Trustee at its unit Unit investment trust office in the City of New York not later than the Evaluation Time, such Units shall be redeemed by the Trustee on that Redemption Day. Units in uncertificated form shall be tendered by means of an appropriate request for redemption in form approved by the Trustee. Unitholders Unit Holders must sign exactly as their name appears on the register with the signature guaranteed by a participant in a signature guarantee program acceptable to the Trustee, or in such other manner as may be acceptable to the Trustee. The Trustee may also require additional documents such as, but not limited to, trust instruments, certificates of death, appointments as executor or administrator or certificates of corporate authority. Subject to payment by such Unitholder Unit Holder of any tax or other governmental charges which may be imposed thereon, such redemption is to be made by distribution to the Distribution Agent on behalf of the redeeming Unitholder Unit Holder on the Redemption Day of (i) the UnitholderUnit Holder's pro rata portion as of the Redemption Day of the Securities in the Trust as designated by the Depositor and (ii) the UnitholderUnit Holder's pro rata portion of the cash in the Trust as of the Redemption Day (herein called the "Redemption Distribution"). The Distribution Agent will dispose of such assets in accordance with the provisions of the Distribution Agent Agreement. Fractional interests in shares distributed to the Distribution Agent, which are not included in the Redemption Distribution, shall be held in trust by the Distribution Agent, which is hereby designated a subcustodian of the Trustee with respect to such fractional interests, and shall be subject to such disposition as the Depositor shall direct. Units received for redemption by the Trustee on any date after the Evaluation Time will be held by the Trustee until the next Business Day on which the New York Stock Exchange is open for trading and will be deemed to have been tendered on such day for redemption at the Redemption Redemp- tion Price computed on that day. Units tendered for redemption by the Depositors Depositor on any Business Day shall be deemed to have been tendered before the Evaluation Time on such Business Day provided that the Depositors advise Depositor advises the Trustee before the later of the Trustee's close of business and 5:00 pm PM New York City time. By such advice, the Depositors Depositor will be deemed to certify that all Units so tendered were either (a) tendered to the Depositors Depositor or to a retail dealer between the Evaluation Evalua- tion Time on the preceding Business Day and the Evaluation Evalua- tion Time on such Business Day or (b) acquired previously previ- ously by the Depositors Depositor but which the Depositors determined Depositor deter- mined to redeem prior to the Evaluation Time on such Business Day. The portion of the Redemption Distribution which represents repre- sents the UnitholderUnit Holder's interest in the Income Account shall be withdrawn from the Income Account to the extent ex- tent available. The balance paid on any redemption, including dividends receivable on stocks trading ex dividend, if any, shall be withdrawn from the Principal Account to the extent that funds are available for such purpose. If such available balance shall be insufficientinsuffi- cient, the Trustee shall advance funds sufficient to pay such amount to the Unitholder Unit Holder and shall be entitled enti- tled to reimbursement of such advance upon the deposit of additional monies in the Income Account or Principal Account, whichever happens first. Should any amounts so advanced with respect to declared but unreceived dividends prove uncollectible uncollectable because of default in payment of such dividends, the Trustee shall have the right immediately to liquidate Securities in amount sufficient to reimburse itself for such advances, without with- out interest. In the event that funds are withdrawn from the Principal Account for payment of any portion of the Redemption Distribution representing dividends receivable on stocks trading ex dividend, the Principal Account shall be reimbursed when sufficient funds are next available in the Income Account for such funds so applied. Unitholders Unit Holders requesting or required to receive a cash distribution shall receive such distribution in accordance accor- dance with the applicable provisions of the Distribution Distribu- tion Agency Agreement."

Distribution Agent. On any Business Day on which any Unit or Units are tendered for redemption (the "Redemption Day") by a Unitholder or his duly authorized attorney to the Trustee at its unit investment trust office in the City of New York not later than the Evaluation Time, such Units shall be redeemed by the Trustee on that Redemption Day. Units in uncertificated form shall be tendered by means of an appropriate request for redemption in form approved by the Trustee. Unitholders must sign exactly as their name appears on the register with the signature guaranteed by a participant in a signature guarantee program acceptable to the Trustee, or in such other manner as may be acceptable to the Trustee. The Trustee may also require additional documents such as, but not limited to, trust instruments, certificates of death, appointments as executor or administrator or certificates of corporate authority. Subject to payment by such Unitholder of any tax or other governmental charges which may be imposed thereon, such redemption is to be made by distribution to the Distribution Agent on behalf of the redeeming Unitholder on the Redemption Day of (i) the Unitholder's pro rata portion as of the Redemption Day of the Securities in the Trust as designated by the Depositor and (ii) the Unitholder's pro rata portion of the cash in the Trust as of the Redemption Day (herein called the "Redemption Distribution"). The Distribution Agent will dispose of such assets in accordance with the provisions of the Distribution Agent Agreement. Fractional interests in shares distributed to the Distribution Agent, which are not included in the Redemption Distribution, shall be held in trust by the Distribution Agent, which is hereby designated a subcustodian of the Trustee with respect to such fractional interests, and shall be subject to such disposition as the Depositor shall direct. Units received for redemption by the Trustee on any date after the Evaluation Time will be held by the Trustee until the next Business Day on which the New York Stock Exchange is open for trading and will be deemed to have been tendered on such day for redemption at the Redemption Price computed on that day. Units tendered for redemption by the Depositors on any Business Day shall be deemed to have been tendered before the Evaluation Time on such Business Day provided that the Depositors advise the Trustee before the later of the Trustee's close of business and 5:00 pm New York City time. By such advice, the Depositors will be deemed to certify that all Units so tendered were either (a) tendered to the Depositors or to a retail dealer between the Evaluation Time on the preceding Business Day and the Evaluation Time on such Business Day or (b) acquired previously by the Depositors but which the Depositors determined to redeem prior to the Evaluation Time on such Business Day. The portion of the Redemption Distribution which represents the Unitholder's interest in the Income Account shall be withdrawn from the Income Account to the extent available. The balance paid on any redemption, including dividends receivable on stocks trading ex dividend, if any, shall be withdrawn from the Principal Account to the extent that funds are available for such purpose. If such available balance shall be insufficient, the Trustee shall advance funds sufficient to pay such amount to the Unitholder and shall be entitled to reimbursement of such advance upon the deposit of additional monies in the Income Account or Principal Account, whichever happens first. Should any amounts so advanced with respect to declared but unreceived dividends prove uncollectible because of default in payment of such dividends, the Trustee shall have the right immediately to liquidate Securities in amount sufficient to reimburse itself for such advances, without interest. In the event that funds are withdrawn from the Principal Account for payment of any portion of the Redemption Distribution representing dividends receivable on stocks trading ex dividend, the Principal Account shall be reimbursed when sufficient funds are next available in the Income Account for such funds so applied. Unitholders requesting or required to receive a cash distribution shall receive such distribution in accordance with the applicable provisions of the Distribution Agency Agreement."

Distribution Agent. On any Business Day on which any Unit or Units are tendered for redemption (the "Redemption Day") by a Unitholder or his duly authorized attorney to the Trustee at its unit investment trust office in the City of New York not later than the Evaluation Time, such Units shall be redeemed by the Trustee on that Redemption Day. Units in uncertificated form shall be tendered by means of an appropriate request for redemption in form approved by the Trustee. Unitholders must sign exactly as their name appears on the register with the signature guaranteed by a participant in a signature guarantee program acceptable to the Trustee, or in such other manner as may be acceptable to the Trustee. The Trustee may also require additional documents such as, but not limited to, trust instruments, certificates of death, appointments as executor or administrator or certificates of corporate authority. Subject to payment by such Unitholder of any tax or other governmental charges which may be imposed thereon, such redemption is to be made by distribution to the Distribution Agent on behalf of the redeeming Unitholder on the Redemption Day of (i) the Unitholder's pro rata portion as of the Redemption Day of the Securities in the Trust as designated by the Depositor and (ii) the Unitholder's pro rata portion of the cash in the Trust as of the Redemption Day (herein called the "Redemption Distribution"). The Distribution Agent will dispose of such assets in accordance with the provisions of the Distribution Agent Agreement. Fractional interests in shares distributed to the Distribution Agent, which are not included in the Redemption Distribution, shall be held in trust by the Distribution Agent, which is hereby designated a subcustodian of the Trustee with respect to such fractional interests, and shall be subject to such disposition as the Depositor shall direct. Units received for redemption by the Trustee on any date after the Evaluation Time will be held by the Trustee until the next Business Day on which the New York Stock Exchange is open for trading and will be deemed to have been tendered on such day for redemption at the Redemption Price computed on that day. Units tendered for redemption by the Depositors on any Business Day shall be deemed to have been tendered before the Evaluation Time on such Business Day provided that the Depositors advise the Trustee before the later of the Trustee's close of business and 5:00 pm New York City time. By such advice, the Depositors will be deemed to certify that all Units so tendered were either (a) tendered to the Depositors or to a retail dealer between the Evaluation Time on the preceding Business Day and the Evaluation Time on such Business Day or (b) acquired previously by the Depositors but which the Depositors determined to redeem prior to the Evaluation Time on such Business Day. The portion of the Redemption Distribution which represents the Unitholder's interest in the Income Account shall be withdrawn from the Income Account to the extent available. The balance paid on any redemption, including dividends receivable on stocks trading ex dividend, if any, shall be withdrawn from the Principal Account to the extent that funds are available for such purpose. If such available balance shall be insufficient, the Trustee shall advance funds sufficient to pay such amount to the Unitholder and shall be entitled to reimbursement of such advance upon the deposit of additional monies in the Income Account or Principal Account, whichever happens first. Should any amounts so advanced with respect to declared but unreceived dividends prove uncollectible because of default in payment of such dividends, the Trustee shall have the right immediately to liquidate Securities in amount sufficient to reimburse itself for such advances, without interest. In the event that funds are withdrawn from the Principal Account for payment of any portion of the Redemption Distribution representing dividends receivable on stocks trading ex dividend, the Principal Account shall be reimbursed when sufficient funds are next available in the Income Account for such funds so applied. -3- Unitholders requesting or required to receive a cash distribution shall receive such distribution in accordance with the applicable provisions of the Distribution Agency Agreement."