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

h calendar year or, in the case of the calendar year in which the Effective Date occurs, the Effective Date) (each, a "Discretionary Sale") and (B) the Restricted Trading Condition does not apply. For purposes of this clause (v), "Discretionary Sale Percentage" shall mean, in the case of (a) the calendar year in which the Effe

oceeds from a Redemption Financing or the issuance of Replacement Notes, as applicable. "Registered": With respect to any debt obligation issued by a United States person (as defined in the Code), a debt obligation (a) that is issued after July 18. 1984 and (b) that is in registered form for purposes of the Cod

w its initial rating, or (iii) the rating of any Class of Rated Notes has been withdrawn (unless it has been reinstated): provided, however, that if the Restricted Trading Condition is in effect. the Controlling Part• may elect to waive such condition, which waiver will remain in effect until the earlier of (A) revocation of su

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

h calendar year or, in the case of the calendar year in which the Effective Date occurs, the Effective Date) (each, a "Discretionary Sale") and (B) the Restricted Trading Condition does not apply. For purposes of this clause (v), "Discretionary Sale Percentage" shall mean, in the case of (a) the calendar year in which the Effe