Reconstitution Events. Section 2.11(a) is hereby deleted --------------------- in its entirety and replaced with the following:
Reconstitution Events. (a) If any class of Securities --------------------- ceases to be outstanding as a result of a merger, consolidation or other corporate combination of the Securities Issuer and Section 4.8 does not apply, the Trustee shall, if it has actual knowledge of such event, to the extent lawful and feasible and subject to Section 4.10, distribute any securities which shall be received by the Trustee in exchange for or in conversion of or in respect of Underlying Securities which are not Securities issued by a Securities Issuer to the Owners in proportion to their ownership of Receipts. Effective on the date that such Securities cease to be outstanding, such class of Securities shall cease to be part of the Securities which must be deposited for issuance of Receipts.
Reconstitution Events. (a) If any class of Securities ceases to be outstanding as a result of a merger, consolidation or other corporate combination of the Securities Issuer and, as a result, securities which are not Underlying Securities or Additional Securities are received by the Trustee in exchange for, in conversion of or in respect of the Underlying Securities, and Section 4.8 of the Standard Terms does not apply, the Trustee shall, to the extent lawful and feasible and subject to Section 4.10 of the Standard Terms, distribute any securities which shall be received by the Trustee to the Owners in proportion to their Ownership of Receipts. Effective on the date that such Securities cease to be outstanding, such class of Securities shall cease to be part of the securities which must be deposited for issuance of Receipts.
Reconstitution Events. 9 TABLE OF CONTENTS (CONTINUED)
Reconstitution Events. (a) If any class of Securities ceases to be outstanding as a result of a merger, consolidation or other corporate combination of the Securities Issuer and, as a result, securities which are not Underlying Securities or Additional Securities are received by the Trustee in exchange for, in conversion of or in respect of the Underlying Securities, the Trustee shall, to the extent lawful and feasible and subject to Section 4.10, distribute any securities which shall be received by the Trustee to the Owners in proportion to their Ownership of Receipts. In the event of a merger, consolidation or other corporate combination in which stockholders of a Securities Issuer are provided an option of receiving either cash or securities, the Trustee shall not respond and shall instead accept the default option regardless of whether it is cash or securities. Effective on the date that such Securities cease to be outstanding, such class of Securities shall cease to be part of the Securities which must be deposited for issuance of Receipts.
Reconstitution Events. (a) If any class of Securities ceases to be outstanding as a result of a merger, consolidation, corporate combination or other event, and, as a result, securities which are not Underlying Securities or Additional Securities are received by the Trustee, the Trustee shall, if it has actual knowledge of such event, to the extent lawful and feasible and subject to Section 4.10, distribute any such securities which shall be received by the Trustee to the Owners in proportion to their ownership of Receipts. Effective on the date that such Securities cease to be outstanding, such class of Securities shall cease to be either Securities or Underlying Securities.
Reconstitution Events. 7.6.1. If (a) any class of Securities ceases to be outstanding as a result of, or is surrendered by the Depositary in connection with, a merger, consolidation, corporate combination or other event of the Securities Issuer, and (b) as a result, the Depositary receives securities which are not Securities of a Successor Company or Additional Securities, then the Depositary will, if it has actual knowledge of such event, to the extent lawful and practicable and subject to section 7.12, distribute any securities so received by the Depositary to the Owners in proportion to their ownership of Receipts. Effective on the date that class of Securities ceases to be outstanding or is surrendered by the Depositary, that class of Securities will cease to be part of the securities that must be deposited for issuance of Receipts.
Reconstitution Events. The trust agreement provides for the automatic distribution of specified deposited securities in the trust’s portfolio to the beneficial owner of such receipts in the circumstances referred to in the prospectus as ‘‘reconstitution events.’’ The reconstitution events occur under the following circumstances:
Reconstitution Events. (a) If any class of Securities ceases to be outstanding, that class of Securities shall, effective at that time, cease to be part of the securities which must be deposited for issuance of Receipts.
Reconstitution Events. (a) In the event that the Shares of any Deposited Shares Issuer cease to be outstanding as a result of a merger, consolidation or other corporate combination, the shares of such entity as shall acquire such Deposited Shares Issuer shall not be Deposited Shares unless that entity is a Deposited Shares Issuer. Instead, the Trustee will distribute shares it receives as a result of such merger, consolidation or other corporate combination to the Owners on a pro rata basis in accordance with their ownership of the Receipts. In the event of a tender offer to purchase some or all of the shares of a Deposited Securities Issuer, including the Deposited Shares of such Deposited Securities Issuer, an Owner shall receive any materials related thereto in accordance with Section 4.8 herein. In such an event, the Trustee shall provide the Owners the opportunity to instruct the Trustee to tender the relevant Deposited Shares represented by their Receipts in the same manner as Section 4.8 provides with respect to voting Deposited Shares.
