Epstein Secrets

such Equity Security or Pledged Collateral Obligation became Margin Stock; and (ii) transfer to a Tax Subsidiary the ownership, as determined for United States federal income tax purposes, of any Collateral Obligation or portion thereof with respect to which the Issuer will receive an Equity Workout Securit

ject to Section 12.1(d), the Investment Manager, on behalf of the Issuer, may direct the Trustee to sell: (i) any Defaulted Obligation; (ii) any Equity Security; (iii) any Credit Risk Obligation; (iv) any Appreciated Obligation; and (v) any Collateral Obligation (other than an obligation being sold purs

such Equity Security or Pledged Collateral Obligation became Margin Stock; and (ii) transfer to a Tax Subsidiary the ownership, as determined for United States federal income tax purposes, of any Collateral Obligation or portion thereof with respect to which the Issuer will receive an Equity Workout Securit

ject to Section 12.1(d), the Investment Manager, on behalf of the Issuer, may direct the Trustee to sell: (i) any Defaulted Obligation; (ii) any Equity Security; (iii) any Credit Risk Obligation; (iv) any Appreciated Obligation; and (v) any Collateral Obligation (other than an obligation being sold purs

iation, in its individual capacity and not as Trustee, or any successor thereto. "Bankruptcy Code": The United States Bankruptcy Code, Title I I of the United States Code, as amended. "Bankruptcy Law": The U.S. Bankruptcy Code, as amended from time to time, and Part V of the Companies Law (2004 Revision) of the

S. Dollars. 9 EFTA00596141 (b) The terms of the obligation do not provide for such obligation to be converted or exchanged at any time into any Equity Security or any other security or asset that is characterized as equity for U.S. federal income tax purposes. (c) The obligation (a) has a Moody's Rating (