Common use of Retained Interest Clause in Contracts

Retained Interest. The Retained Interest, if any, in any Underlying Security or other Trust Property shall initially be held by the Person so specified in the Trust Agreement and to the extent specified therein. The Retained Interest will be established on an asset-by-asset basis. With respect to each Underlying Security, unless otherwise specified in the Trust Agreement, the Retained Interest shall be deducted by the Trustee from applicable collections in respect of such Underlying Security or other Trust Property. Unless otherwise provided in the Trust Agreement, collections in respect of Retained Interest shall not be deposited in the Unit Account and shall not constitute a part of the Trust, but shall instead be distributed to the holder of such Retained Interest; provided, however, that the Trust Agreement with respect to which there is a Retained Interest may provide that commingled amounts received in respect of Underlying Securities and the related Retained Interest may initially be deposited in separate and discrete accounts established by the Trustee.

Retained Interest. The Retained Interest, if any, in any Underlying Debt Security or other Trust Property shall initially be held by the Person so specified in the Trust Agreement Terms Schedule and to the extent specified therein. The Retained Interest will be established on an asset-by-asset basis. With respect to each Underlying Debt Security, unless otherwise specified in the Trust AgreementTerms Schedule, the Retained Interest shall be deducted by the Trustee from applicable collections in respect of such Underlying Debt Security or other Trust Property. Unless otherwise provided in the Trust AgreementTerms Schedule, collections in respect of Retained Interest shall not be deposited in the Unit Account and shall not constitute a part of the Trust, but shall instead be distributed to the holder of such Retained Interest; provided, however, that the Trust Agreement Terms Schedule with respect to which there is a Retained Interest may provide that commingled amounts received in respect of Underlying Debt Securities and the related Retained Interest may initially be deposited in separate and discrete accounts established by the Trustee.