Common use of Alternative Exercise Clause in Contracts

Alternative Exercise. Notwithstanding any other provision of this Trust Agreement, in connection with any exercise of Warrants, if the Warrantholder beneficially owns Class B Units on the date of such exercise, the portion of the Warrant exercise equal to an amount corresponding to the amount of the Class B Units the Warrantholder beneficially owns shall be designated as an “Alternative Exercise”. With respect to any portion of an exercise required to be designated as an Alternative Exercise, the Warrantholder shall reduce the Call Price by the corresponding value of Class B Units it beneficially owns and such Class B Units shall be exchanged for Trust Property in connection with such Alternative Exercise. No Class B Units will be deemed reissued to the Warrantholder or called in connection with such Alternative Exercise. As with an exercise that is not an Alternative Exercise, the “Callable Series” provisions shall automatically cancel and re-issue Class A Units to the Warrantholder, the notice of exercise shall constitute a notice of exchange of the acquired Class A Units together with the applicable beneficially owned Class B Units subject to such Alternative Exercise for Trust Property under the “Optional Exchange Under Warrants” provisions, and any such notice of exchange may only be revoked or rescinded to the extent the exercise as to Class A Units is revoked or rescinded as specified in the “Optional Exchange Under Warrants” provisions. All other provisions of this Trust Agreement shall be appropriately construed to give effect to the purposes of this subsection.