Common use of Optional Exchange Clause in Contracts

Optional Exchange. (a) A Trust Agreement may designate a series of Units as Exchangeable Units. In order for a Unit of a given Exchangeable Series (or Class within such Exchangeable Series) to be exchanged by the applicable Unitholder, the Trustee must receive, at least 30 (or such shorter period acceptable to the Trustee) but not more than 45 days prior to an Optional Exchange Date (i) such Unit with the form entitled "Option to Elect Exchange" on the reverse thereof duly completed or (ii) in the case of Registered Units, a telegram, telex, facsimile transmission or letter from a member of a national securities exchange or the National Association of Securities Dealers, Inc., the Depositary (in accordance with its normal procedures) or a commercial bank or trust company in the United States setting forth the name of the Holder of such Registered Unit, the Unit Principal Balance or Notional Amount of such Registered Unit to be exchanged, the certificate number or a description of the tenor and terms of such Registration Unit, a statement that the option to elect exchange is being exercised thereby and a guarantee that the Registered Unit to be exchanged with the form entitled "Option to Elect Exchange" on the reverse of the Registered Unit duly completed will be received by such Trustee not later than five Business Days after the date of such telegram, telex, facsimile transmission or letter. If the procedure described in clause (ii) of the preceding sentence is followed, then such Registered Unit and form duly completed must be received by such Trustee by such fifth Business Day. Any tender of a Unit by the Holder for exchange shall be irrevocable. The exchange option may be exercised by the Holder of a Unit for less than the entire Unit Principal Balance of such Unit provided that the Unit Principal Balance or Notional Amount, as applicable, of such Unit remaining outstanding after redemption is an authorized denomination and all other exchange requirements set forth in the related Trust Agreement are satisfied. Upon such partial exchange, such Unit shall be canceled and a new Unit or Units for the remaining Unit Principal Balance thereof shall be issued (which, in the case of any Registered Unit, shall be in the name of the Holder of such exchanged Unit).

Optional Exchange. (a) A Trust Agreement may designate a series of Units as Exchangeable Units. In order for a Unit Certificate of a given Exchangeable Series (or Class within such Exchangeable Series) to be exchanged by the applicable UnitholderHolder, the Trustee must receive, at least 30 (or such shorter period acceptable to the Trustee) but not more than 45 90 days prior to an Optional Exchange Date (or such other longer notice period specified in the related Terms Schedule) (i) such Unit Certificate with the form entitled "Option to Elect Exchange" on the reverse thereof duly completed or (ii) in the case of Registered UnitsCertificates, a telegram, telex, facsimile transmission or letter from a member of a national securities exchange or the National Association of Securities Dealers, Inc., the Depositary (in accordance with its normal procedures) or a commercial bank or trust company in the United States setting forth the name of the Holder of such Registered UnitCertificate, the Unit Certificate Principal Balance or Notional Amount of such Registered Unit Certificate to be exchanged, the certificate number or a description of the tenor and terms of such Registration UnitCertificate, a statement that the option to elect exchange is being exercised thereby and a guarantee that the Registered Unit Certificate to be exchanged with the form entitled "Option to Elect Exchange" on the reverse of the Registered Unit Certificate duly completed will be received by such Trustee not later than five Business Days after the date of such telegram, telex, facsimile transmission or letter. If the procedure described in clause (ii) of the preceding sentence is followed, then such Registered Unit Certificate and form duly completed must be received by such Trustee by such fifth Business Day. Any tender of a Unit Certificate by the Holder for exchange shall be irrevocable. The exchange option may be exercised by the Holder of a Unit Certificate for less than the entire Unit Certificate Principal Balance of such Unit Certificate provided that the Unit Certificate Principal Balance or Notional Amount, as applicable, of such Unit Certificate remaining outstanding Outstanding after redemption is an authorized denomination and all other exchange requirements set forth in the related Trust Agreement Terms Schedule are satisfied. Upon such partial exchange, such Unit Certificate shall be canceled and a new Unit Certificate or Units Certificates for the remaining Unit Certificate Principal Balance thereof shall be issued (which, in the case of any Registered UnitCertificate, shall be in the name of the Holder of such exchanged UnitCertificate).

Optional Exchange. (a) A Trust Agreement may designate a series of Units as Exchangeable Units. In order for a Unit of a given Exchangeable Series (or Class within such Exchangeable Series) to be exchanged by the applicable Unitholder, the Trustee must receive, at least 30 (or such shorter period acceptable to the Trustee) but not more than 45 days prior to an Optional Exchange Date (i) such Unit with the form entitled "Option to Elect Exchange" on the reverse thereof duly completed or (ii) in the case of Registered Units, a telegram, telex, facsimile transmission or letter from a member of a national securities exchange or the National Association of Securities Dealers, Inc., the Depositary (in accordance with its normal procedures) or a commercial bank or trust company in the United States setting forth the name of the Holder of such Registered Unit, the Unit Principal Balance or Notional Amount of such Registered Unit to be exchanged, the certificate number or a description of the tenor and terms of such Registration Unit, a statement that the option to elect exchange is being exercised thereby and a guarantee that the Registered Unit to be exchanged with the form entitled "Option to Elect Exchange" on the reverse of the Registered Unit duly completed will be received by such Trustee not later than five Business Days after the date of such telegram, telex, facsimile transmission or letter. If the procedure described in clause (ii) of the preceding sentence is followed, then such Registered Unit and form duly completed must be received by such Trustee by such fifth Business Day. Any tender of a Unit by the Holder for exchange shall be irrevocable. The exchange option may be exercised by the Holder of a Unit for less than the entire Unit Principal Balance of such Unit provided that the Unit Principal Balance or Notional Amount, as applicable, of such Unit remaining outstanding after redemption is an authorized denomination and all other exchange requirements set forth in the related Trust Agreement Terms Schedule are satisfied. Upon such partial exchange, such Unit shall be canceled and a new Unit or Units for the remaining Unit Principal Balance thereof shall be issued (which, in the case of any Registered Unit, shall be in the name of the Holder of such exchanged Unit).

Optional Exchange. (a) A Trust Agreement may designate a series of Units as Exchangeable Units. In order for a Unit Certificate of a given any Exchangeable Series (or Class within such Exchangeable Series) to be exchanged by the applicable Unitholdera holder thereof, the Trustee must receive, at least 30 (or such shorter period acceptable to the Trustee) but not more than 45 days prior to an Optional Exchange Date Date, (i) such Unit Certificate with the form entitled "Option to Elect Exchange" on the reverse thereof duly completed or (ii) in the case of a Registered UnitsCertificate, a telegram, telex, facsimile transmission or letter from a member of a national securities exchange or exchange, the National Association of Securities Dealers, Inc., the Depositary (in accordance with its normal procedures) or a commercial bank or trust company in the United States setting States, which shall set forth the name of the Holder of such Registered Unitholder, the Unit Principal Balance (or Notional Amount of such Registered Unit Amount, as applicable) to be exchanged, the certificate number or a description of the tenor and terms of such Registration UnitRegistered Certificate, a statement that the option to elect exchange is being exercised thereby and a guarantee that the such Registered Unit to be exchanged Certificate with the form entitled "Option to Elect Exchange" on the reverse of the Registered Unit duly completed will be received by such Trustee not later than five Business Days after the date of such telegram, telex, facsimile transmission or letter. If the procedure described in clause (ii) of the immediately preceding sentence is followedchosen, then such Registered Unit Certificate and form duly completed form must be received by such the Trustee by such fifth Business Day. Any tender of a Unit Certificate by the Holder holder thereof for exchange shall be irrevocable. The exchange option may be exercised by the Holder holder of a Unit Certificate for less than the entire Unit Principal Balance of such Unit provided that the Unit Principal Balance (or Notional Amount, as applicable), of such Unit Certificate, provided the Principal Balance (or Notional Amount, as applicable), of such Certificate remaining outstanding after redemption such exchange is an authorized denomination and all any other exchange requirements set forth specified in the related Trust Agreement Terms Schedule are satisfied. Upon any such partial exchange, such Unit Certificate shall be canceled and a new Unit Certificate or Units Certificates of like tenor for the remaining Unit Principal Balance (or Notional Amount, as applicable) thereof shall be issued (which, in the case of any Registered Unit, shall be in the name of the Holder holder of such exchanged Unit)Certificate.

Optional Exchange. (a) A Trust Agreement may designate a series of Units as Exchangeable Units. In order for a Unit of a given Exchangeable Series (or Class within such Exchangeable Series) to be exchanged by the applicable Unitholder, the Trustee must receive, at least 30 (or such shorter period acceptable to the Trustee) but not more than 45 days prior to an Optional Exchange Date (i) such Unit with the form entitled "“Option to Elect Exchange" ” on the reverse thereof duly completed or (ii) in the case of Registered Units, a telegram, telex, facsimile transmission or letter from a member of a national securities exchange or the National Association of Securities Dealers, Inc., the Depositary (in accordance with its normal procedures) or a commercial bank or trust company in the United States setting forth the name of the Holder of such Registered Unit, the Unit Principal Balance or Notional Amount of such Registered Unit to be exchanged, the certificate number or a description of the tenor and terms of such Registration Unit, a statement that the option to elect exchange is being exercised thereby and a guarantee that the Registered Unit to be exchanged with the form entitled "“Option to Elect Exchange" ” on the reverse of the Registered Unit duly completed will be received by such Trustee not later than five Business Days after the date of such telegram, telex, facsimile transmission or letter. If the procedure described in clause (ii) of the preceding sentence is followed, then such Registered Unit and form duly completed must be received by such Trustee by such fifth Business Day. Any tender of a Unit by the Holder for exchange shall be irrevocable. The exchange option may be exercised by the Holder of a Unit for less than the entire Unit Principal Balance of such Unit provided that the Unit Principal Balance or Notional Amount, as applicable, of such Unit remaining outstanding after redemption is an authorized denomination and all other exchange requirements set forth in the related Trust Agreement are satisfied. Upon such partial exchange, such Unit shall be canceled and a new Unit or Units for the remaining Unit Principal Balance thereof shall be issued (which, in the case of any Registered Unit, shall be in the name of the Holder of such exchanged Unit).

Optional Exchange. (a) A Trust Agreement may designate a series of Units as Exchangeable Units. In order for a Unit Certificate of a given Exchangeable Series (or Class within such Exchangeable Series) to be exchanged by the applicable UnitholderHolder, the Trustee must receive, at least 30 (or such shorter period acceptable to the Trustee) but not more than 45 days prior to an Optional Exchange Date (i) such Unit Certificate with the form entitled "Option to Elect Exchange" on the reverse thereof duly completed or (ii) in the case of Registered UnitsCertificates, a telegram, telex, facsimile transmission or letter from a member of a national securities exchange or the National Association of Securities Dealers, Inc., the Depositary (in accordance with its normal procedures) or a commercial bank or trust company in the United States setting forth the name of the Holder of such Registered UnitCertificate, the Unit Certificate Principal Balance or Notional Amount of such Registered Unit Certificate to be exchanged, the certificate number or a description of the tenor and terms of such Registration UnitCertificate, a statement that the option to elect exchange is being exercised thereby and a guarantee that the Registered Unit Certificate to be exchanged with the form entitled "Option to Elect Exchange" on the reverse of the Registered Unit Certificate duly completed will be received by such Trustee not later than five Business Days after the date of such telegram, telex, facsimile transmission or letter. If the procedure described in clause (ii) of the preceding sentence is followed, then such Registered Unit Certificate and form duly completed must be received by such Trustee by such fifth Business Day. Any tender of a Unit Certificate by the Holder for exchange shall be irrevocable. The exchange option may be exercised by the Holder of a Unit Certificate for less than the entire Unit Certificate Principal Balance of such Unit Certificate provided that the Unit Certificate Principal Balance or Notional Amount, as applicable, of such Unit Certificate remaining outstanding Outstanding after redemption is an authorized denomination and all other exchange requirements set forth in the related Trust Agreement Terms Schedule are satisfied. Upon such partial exchange, such Unit Certificate shall be canceled and a new Unit Certificate or Units Certificates for the remaining Unit Certificate Principal Balance thereof shall be issued (which, in the case of any Registered UnitCertificate, shall be in the name of the Holder of such exchanged UnitCertificate).