Common use of Automatic Exchange Clause in Contracts

Automatic Exchange. On the occurrence of an Automatic Exchange Event, whether before or after the occurrence of any Event of Default (as defined in the Indenture), each Holder of Trust Notes — Series 2016-A then outstanding shall, through the Exchange Trustee, be deemed to have hereby automatically exchanged and transferred to TCPL all of such Holder’s right, title and interest in and to the Trust Notes — Series 2016-A, including pursuant to the guarantee provided by TCPL in respect of the Trust Notes — Series 2016-A, registered in its name at a price, for each $1,000 principal amount of Trust Notes — Series 2016-A, equal to one newly issued and fully paid TCPL Exchange Preferred Share with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — Series 2016-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event, by $1,000. As full and final payment of such price, a Holder of Trust Notes — Series 2016-A shall receive, and be deemed to have received, as of the Time of Automatic Exchange, the right to be issued one newly issued and fully paid TCPL Exchange Preferred Share which right shall be immediately and automatically exercised as provided in this section 3.3 with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — Series 2016-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event by $1,000, per $1,000 principal amount of Trust Notes — Series 2016-A held by the Holder. The foregoing exchange, transfer, receipt and acceptance shall be automatically effected hereby and shall not require any conveyance, confirmation or further action on the part of the Trust, the Exchange Trustee or the Holders in order to give full and final effect to same. For greater certainty, any Trust Notes — Series 2016-A purchased or redeemed by the Trust prior to the Time of Automatic Exchange shall be deemed not to be outstanding and shall not be subject to the Automatic Exchange.

Automatic Exchange. 4.1.1 On the occurrence of an Automatic Exchange Event, whether before or after the occurrence of any Event of Default (as defined in the Indenture)Default, each Holder of Trust Notes — Series 2016-A then outstanding shallshall give full effect to the Automatic Exchange pursuant to and in accordance with the Share Exchange Agreement. To that end, through in accordance with the Share Exchange TrusteeAgreement, all Trust Notes — Series 2016-A held by a Holder shall be deemed to have hereby been automatically exchanged and transferred to TCPL all of such Holder’s right, title and interest in and to the Trust Notes — Series 2016-A, including pursuant to the guarantee provided by TCPL in respect of the Trust Notes — Series 2016-A, registered in its name at a price, for each $1,000 principal amount of Trust Notes — Series 2016-A, equal to one newly issued and fully paid TCPL Exchange Preferred Share with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if where applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — Series 2016-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event, by $1,000. As full and final payment of such price, in accordance with the Share Exchange Agreement, a Holder of Trust Notes — Series 2016-A shall receive, and be deemed to have receivedreceived and accepted, as of the Time of Automatic Exchange, the right to be issued one newly issued and fully paid TCPL Exchange Preferred Share which right shall be immediately and automatically exercised as provided in this section 3.3 with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if where applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — Series 2016-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event by $1,000, per $1,000 principal amount of Trust Notes — Series 2016-A held by the Holder. The foregoing exchange, transfer, receipt and acceptance shall be automatically effected hereby in accordance with the Share Exchange Agreement and shall not require any conveyance, confirmation or further action on the part of being taken by the Trust, the Exchange Trustee or the Holders in order to give full and final effect to same. For greater certainty, any Trust Notes — Series 2016-A purchased or redeemed by the Trust prior to the Time of Automatic Exchange shall be deemed not to be outstanding outstanding, and shall not be subject to the Automatic Exchange. 4.1.2 Pursuant to the Share Exchange Agreement, as of the Time of Automatic Exchange and on a basis consistent with the terms of this Agreement, each Holder of Trust Notes — Series 2016-A shall be deemed to have exchanged and transferred to TCPL all of such Holder’s right, title and interest in and to the Trust Notes — Series 2016-A registered in its name and shall thereupon cease to be a Holder of such Trust Notes — Series 2016-A and all rights of such Holder as a debtholder of the Trust shall cease, and each Holder shall thereupon and thereafter be deemed hereunder to be entitled to receive the corresponding number of TCPL Exchange Preferred Shares (including fractional shares, where applicable) contemplated in Section 3.3 of the Share Exchange Agreement.

Automatic Exchange. 4.1.1 On the occurrence of an Automatic Exchange Event, whether before or after the occurrence of any Event of Default (as defined in the Indenture)Default, each Holder of Trust Notes — Series 20162019-A then outstanding shallshall give full effect to the Automatic Exchange pursuant to and in accordance with the Share Exchange Agreement. To that end, through in accordance with the Share Exchange TrusteeAgreement, all Trust Notes — Series 2019-A held by a Holder shall be deemed to have hereby been automatically exchanged and transferred to TCPL all of such Holder’s right, title and interest in and to the Trust Notes — Series 2016-A, including pursuant to the guarantee provided by TCPL in respect of the Trust Notes — Series 2016-A, registered in its name at a price, for each $1,000 principal amount of Trust Notes — Series 20162019-A, equal to one newly issued and fully paid TCPL Exchange Preferred Share with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if where applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — Series 20162019-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event, by $1,000. As full and final payment of such price, in accordance with the Share Exchange Agreement, a Holder of Trust Notes — Series 20162019-A shall receive, and be deemed to have receivedreceived and accepted, as of the Time of Automatic Exchange, the right to be issued one newly issued and fully paid TCPL Exchange Preferred Share which right shall be immediately and automatically exercised as provided in this section 3.3 with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if where applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — Series 20162019-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event by $1,000, per $1,000 principal amount of Trust Notes — Series 20162019-A held by the Holder. The foregoing exchange, transfer, receipt and acceptance shall be automatically effected hereby in accordance with the Share Exchange Agreement and shall not require any conveyance, confirmation or further action on the part of being taken by the Trust, the Exchange Trustee or the Holders in order to give full and final effect to same. For greater certainty, any Trust Notes — Series 20162019-A purchased or redeemed by the Trust prior to the Time of Automatic Exchange shall be deemed not to be outstanding outstanding, and shall not be subject to the Automatic Exchange. 4.1.2 Pursuant to the Share Exchange Agreement, as of the Time of Automatic Exchange and on a basis consistent with the terms of this Agreement, each Holder of Trust Notes — Series 2019-A shall be deemed to have exchanged and transferred to TCPL all of such Holder’s right, title and interest in and to the Trust Notes — Series 2019-A registered in its name and shall thereupon cease to be a Holder of such Trust Notes — Series 2019-A and all rights of such Holder as a debtholder of the Trust shall cease, and each Holder shall thereupon and thereafter be deemed hereunder to be entitled to receive the corresponding number of TCPL Exchange Preferred Shares (including fractional shares, where applicable) contemplated in Section 3.3 of the Share Exchange Agreement.

Automatic Exchange. On the occurrence of an Automatic Exchange Event, whether before or after the occurrence of any Event of Default (as defined in the Indenture), each Holder of Trust Notes — Series 20162017-A then outstanding shall, through the Exchange Trustee, be deemed to have hereby automatically exchanged and transferred to TCPL all of such Holder’s right, title and interest in and to the Trust Notes — Series 20162017-A, including pursuant to the guarantee provided by TCPL in respect of the Trust Notes — Series 20162017-A, registered in its name at a price, for each $1,000 principal amount of Trust Notes — Series 20162017-A, equal to one newly issued and fully paid TCPL Exchange Preferred Share with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — Series 20162017-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event, by $1,000. As full and final payment of such price, a Holder of Trust Notes — Series 20162017-A shall receive, and be deemed to have received, as of the Time of Automatic Exchange, the right to be issued one newly issued and fully paid TCPL Exchange Preferred Share which right shall be immediately and automatically exercised as provided in this section 3.3 with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — Series 20162017-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event by $1,000, per $1,000 principal amount of Trust Notes — Series 20162017-A held by the Holder. The foregoing exchange, transfer, receipt and acceptance shall be automatically effected hereby and shall not require any conveyance, confirmation or further action on the part of the Trust, the Exchange Trustee or the Holders in order to give full and final effect to same. For greater certainty, any Trust Notes — Series 20162017-A purchased or redeemed by the Trust prior to the Time of Automatic Exchange shall be deemed not to be outstanding and shall not be subject to the Automatic Exchange.

Automatic Exchange. On the occurrence of an Automatic Exchange Event, whether before or after the occurrence of any Event of Default (as defined in the Indenture), each Holder of Trust Notes — Series 20162015-A then outstanding shall, through the Exchange Trustee, be deemed to have hereby automatically exchanged and transferred to TCPL all of such Holder’s right, title and interest in and to the Trust Notes — Series 20162015-A, including pursuant to the guarantee provided by TCPL in respect of the Trust Notes — Series 20162015-A, registered in its name at a price, for each $1,000 principal amount of Trust Notes — Series 20162015-A, equal to one newly issued and fully paid TCPL Exchange Preferred Share with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — Series 20162015-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event, by $1,000. As full and final payment of such price, a Holder of Trust Notes — Series 20162015-A shall receive, and be deemed to have received, as of the Time of Automatic Exchange, the right to be issued one newly issued and fully paid TCPL Exchange Preferred Share which right shall be immediately and automatically exercised as provided in this section 3.3 with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — Series 20162015-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event by $1,000, per $1,000 principal amount of Trust Notes — Series 20162015-A held by the Holder. The foregoing exchange, transfer, receipt and acceptance shall be automatically effected hereby and shall not require any conveyance, confirmation or further action on the part of the Trust, the Exchange Trustee or the Holders in order to give full and final effect to same. For greater certainty, any Trust Notes — Series 20162015-A purchased or redeemed by the Trust prior to the Time of Automatic Exchange shall be deemed not to be outstanding and shall not be subject to the Automatic Exchange.

Automatic Exchange. 4.1.1 On the occurrence of an Automatic Exchange Event, whether before or after the occurrence of any Event of Default (as defined in the Indenture)Default, each Holder of Trust Notes — Series 20162017-A then outstanding shallshall give full effect to the Automatic Exchange pursuant to and in accordance with the Share Exchange Agreement. To that end, through in accordance with the Share Exchange TrusteeAgreement, all Trust Notes — Series 2017-A held by a Holder shall be deemed to have hereby been automatically exchanged and transferred to TCPL all of such Holder’s right, title and interest in and to the Trust Notes — Series 2016-A, including pursuant to the guarantee provided by TCPL in respect of the Trust Notes — Series 2016-A, registered in its name at a price, for each $1,000 principal amount of Trust Notes — Series 20162017-A, equal to one newly issued and fully paid TCPL Exchange Preferred Share with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if where applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — Series 20162017-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event, by $1,000. As full and final payment of such price, in accordance with the Share Exchange Agreement, a Holder of Trust Notes — Series 20162017-A shall receive, and be deemed to have receivedreceived and accepted, as of the Time of Automatic Exchange, the right to be issued one newly issued and fully paid TCPL Exchange Preferred Share which right shall be immediately and automatically exercised as provided in this section 3.3 with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if where applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — Series 20162017-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event by $1,000, per $1,000 principal amount of Trust Notes — Series 20162017-A held by the Holder. The foregoing exchange, transfer, receipt and acceptance shall be automatically effected hereby in accordance with the Share Exchange Agreement and shall not require any conveyance, confirmation or further action on the part of being taken by the Trust, the Exchange Trustee or the Holders in order to give full and final effect to same. For greater certainty, any Trust Notes — Series 20162017-A purchased or redeemed by the Trust prior to the Time of Automatic Exchange shall be deemed not to be outstanding outstanding, and shall not be subject to the Automatic Exchange. 4.1.2 Pursuant to the Share Exchange Agreement, as of the Time of Automatic Exchange and on a basis consistent with the terms of this Agreement, each Holder of Trust Notes — Series 2017-A shall be deemed to have exchanged and transferred to TCPL all of such Holder’s right, title and interest in and to the Trust Notes — Series 2017-A registered in its name and shall thereupon cease to be a Holder of such Trust Notes — Series 2017-A and all rights of such Holder as a debtholder of the Trust shall cease, and each Holder shall thereupon and thereafter be deemed hereunder to be entitled to receive the corresponding number of TCPL Exchange Preferred Shares (including fractional shares, where applicable) contemplated in Section 3.3 of the Share Exchange Agreement.

Automatic Exchange. 4.1.1 On the occurrence of an Automatic Exchange Event, whether before or after the occurrence of any Event of Default (as defined in the Indenture)Default, each Holder of Trust Notes — Series 20162015-A then outstanding shallshall give full effect to the Automatic Exchange pursuant to and in accordance with the Share Exchange Agreement. To that end, through in accordance with the Share Exchange TrusteeAgreement, all Trust Notes — Series 2015-A held by a Holder shall be deemed to have hereby been automatically exchanged and transferred to TCPL all of such Holder’s right, title and interest in and to the Trust Notes — Series 2016-A, including pursuant to the guarantee provided by TCPL in respect of the Trust Notes — Series 2016-A, registered in its name at a price, for each $1,000 principal amount of Trust Notes — Series 20162015-A, equal to one newly issued and fully paid TCPL Exchange Preferred Share with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if where applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — Series 20162015-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event, by $1,000. As full and final payment of such price, in accordance with the Share Exchange Agreement, a Holder of Trust Notes — Series 20162015-A shall receive, and be deemed to have receivedreceived and accepted, as of the Time of Automatic Exchange, the right to be issued one newly issued and fully paid TCPL Exchange Preferred Share which right shall be immediately and automatically exercised as provided in this section 3.3 with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if where applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — Series 20162015-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event by $1,000, per $1,000 principal amount of Trust Notes — Series 20162015-A held by the Holder. The foregoing exchange, transfer, receipt and acceptance shall be automatically effected hereby in accordance with the Share Exchange Agreement and shall not require any conveyance, confirmation or further action on the part of being taken by the Trust, the Exchange Trustee or the Holders in order to give full and final effect to same. For greater certainty, any Trust Notes — Series 20162015-A purchased or redeemed by the Trust prior to the Time of Automatic Exchange shall be deemed not to be outstanding outstanding, and shall not be subject to the Automatic Exchange. 4.1.2 Pursuant to the Share Exchange Agreement, as of the Time of Automatic Exchange and on a basis consistent with the terms of this Agreement, each Holder of Trust Notes — Series 2015-A shall be deemed to have exchanged and transferred to TCPL all of such Holder’s right, title and interest in and to the Trust Notes — Series 2015-A registered in its name and shall thereupon cease to be a Holder of such Trust Notes — Series 2015-A and all rights of such Holder as a debtholder of the Trust shall cease, and each Holder shall thereupon and thereafter be deemed hereunder to be entitled to receive the corresponding number of TCPL Exchange Preferred Shares (including fractional shares, where applicable) contemplated in Section 3.3 of the Share Exchange Agreement.

Automatic Exchange. On the occurrence of an Automatic Exchange Event, whether before or after the occurrence of any Event of Default (as defined in the Indenture), each Holder of Trust Notes — Series 20162019-A then outstanding shall, through the Exchange Trustee, be deemed to have hereby automatically exchanged and transferred to TCPL all of such Holder’s right, title and interest in and to the Trust Notes — Series 20162019-A, including pursuant to the guarantee provided by TCPL in respect of the Trust Notes — Series 20162019-A, registered in its name at a price, for each $1,000 principal amount of Trust Notes — Series 20162019-A, equal to one newly issued and fully paid TCPL Exchange Preferred Share with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — Series 20162019-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event, by $1,000. As full and final payment of such price, a Holder of Trust Notes — Series 20162019-A shall receive, and be deemed to have received, as of the Time of Automatic Exchange, the right to be issued one newly issued and fully paid TCPL Exchange Preferred Share which right shall be immediately and automatically exercised as provided in this section 3.3 with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — Series 20162019-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event by $1,000, per $1,000 principal amount of Trust Notes — Series 20162019-A held by the Holder. The foregoing exchange, transfer, receipt and acceptance shall be automatically effected hereby and shall not require any conveyance, confirmation or further action on the part of the Trust, the Exchange Trustee or the Holders in order to give full and final effect to same. For greater certainty, any Trust Notes — Series 20162019-A purchased or redeemed by the Trust prior to the Time of Automatic Exchange shall be deemed not to be outstanding and shall not be subject to the Automatic Exchange.

Automatic Exchange. 4.1.1 On the occurrence of an Automatic Exchange Event, whether before or after the occurrence of any Event of Default (as defined in the Indenture)Default, each Holder of Trust Notes — – Series 20162022-A then outstanding shallshall give full effect to the Automatic Exchange pursuant to and in accordance with the Share Exchange Agreement. To that end, through in accordance with the Share Exchange TrusteeAgreement, all Trust Notes – Series 2022-A held by a Holder shall be deemed to have hereby been automatically exchanged and transferred to TCPL all of such Holder’s right, title and interest in and to the Trust Notes — Series 2016-A, including pursuant to the guarantee provided by TCPL in respect of the Trust Notes — Series 2016-A, registered in its name at a price, for each $1,000 principal amount of Trust Notes — – Series 20162022-A, equal to one newly issued and fully paid TCPL Exchange Preferred Share with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if where applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — – Series 20162022-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event, by $1,000. As full and final payment of such price, in accordance with the Share Exchange Agreement, a Holder of Trust Notes — – Series 20162022-A shall receive, and be deemed to have receivedreceived and accepted, as of the Time of Automatic Exchange, the right to be issued one newly issued and fully paid TCPL Exchange Preferred Share which right shall be immediately and automatically exercised as provided in this section 3.3 with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if where applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — – Series 20162022-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event by $1,000, per $1,000 principal amount of Trust Notes — – Series 20162022-A held by the Holder. The foregoing exchange, transfer, receipt and acceptance shall be automatically effected hereby in accordance with the Share Exchange Agreement and shall not require any conveyance, confirmation or further action on the part of being taken by the Trust, the Exchange Trustee or the Holders in order to give full and final effect to same. For greater certainty, any Trust Notes — – Series 20162022-A purchased or redeemed by the Trust prior to the Time of Automatic Exchange shall be deemed not to be outstanding outstanding, and shall not be subject to the Automatic Exchange. 4.1.2 Pursuant to the Share Exchange Agreement, as of the Time of Automatic Exchange and on a basis consistent with the terms of this Agreement, each Holder of Trust Notes – Series 2022-A shall be deemed to have exchanged and transferred to TCPL all of such Holder's right, title and interest in and to the Trust Notes – Series 2022-A registered in its name and shall thereupon cease to be a Holder of such Trust Notes – Series 2022-A and all rights of such Holder as a debtholder of the Trust shall cease, and each Holder shall thereupon and thereafter be deemed hereunder to be entitled to receive the corresponding number of TCPL Exchange Preferred Shares (including fractional shares, where applicable) contemplated in Section 3.3 of the Share Exchange Agreement.

Automatic Exchange. On the occurrence of an Automatic Exchange Event, whether before or after the occurrence of any Event of Default (as defined in the Indenture), each Holder of Trust Notes — – Series 20162022-A then outstanding shall, through the Exchange Trustee, be deemed to have hereby automatically exchanged and transferred to TCPL all of such Holder’s 's right, title and interest in and to the Trust Notes — – Series 20162022-A, including pursuant to the guarantee provided by TCPL in respect of the Trust Notes — – Series 20162022-A, registered in its name at a price, for each $1,000 principal amount of Trust Notes — – Series 20162022-A, equal to one newly issued and fully paid TCPL Exchange Preferred Share with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — – Series 20162022-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event, by $1,000. As full and final payment of such price, a Holder of Trust Notes — – Series 20162022-A shall receive, and be deemed to have received, as of the Time of Automatic Exchange, the right to be issued one newly issued and fully paid TCPL Exchange Preferred Share which right shall be immediately and automatically exercised as provided in this section Section 3.3 with a stated issue price of $1,000 per share, together with such number of TCPL Exchange Preferred Shares (including fractional shares, if applicable) calculated by dividing the amount of accrued and unpaid interest on each $1,000 principal amount of Trust Notes — – Series 20162022-A from the immediately preceding Interest Payment Date to, but excluding, the date of the Automatic Exchange Event by $1,000, per $1,000 principal amount of Trust Notes — – Series 20162022-A held by the Holder. The foregoing exchange, transfer, receipt and acceptance shall be automatically effected hereby and shall not require any conveyance, confirmation or further action on the part of the Trust, the Exchange Trustee or the Holders in order to give full and final effect to same. For greater certainty, any Trust Notes — – Series 20162022-A purchased or redeemed by the Trust prior to the Time of Automatic Exchange shall be deemed not to be outstanding and shall not be subject to the Automatic Exchange.