Optional Exchange. (a) The terms and conditions, if any, of an Optional Exchange will be specified in the related Supplement; provided, however, that any right of Optional Exchange shall be exercisable only to the extent that the Depositor provides upon the Trustee's request an Opinion of Counsel that (i) such exchange would not be inconsistent with continued satisfaction of the applicable requirements for exemption under Rule 3a-7 (or other applicable rule or exemption) under the Investment Company Act of 1940, as amended, and all applicable rules, regulations and interpretations thereunder and (ii) such exchange would not affect the characterization of the Trust as a "grantor trust" under the Code. The terms of an Optional Exchange may include, but are not limited to, the following:
Appears in 65 contracts
Samples: Market Agent Agreement (Merrill Lynch Depositor Inc Preferredplus Trust Series BLS-1), Market Agent Agreement (Merrill Lynch Depositor Inc Pplus Trust Series DCC 1), Market Agent Agreement (Merrill Lynch Depositor Preferredplus Trust Series CTR 1)
