A/B Exchange
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“A/B Exchange” means an exchange or sale of one security (the “A Security”) and the subsequent delivery of or reinvestment in another security (the “B Security”) which shall be issued by the issuer or issuers of the A Security and shall have substantially identical terms to the A Security, except that one or more restrictions on the ability of the holder to sell or otherwise dispose of the A Security are intended to be inapplicable to the B Security and cash or cash equivalents in settlement of fractional or unauthorized denominations of A Securities to be tendered for exchange or B Securities received in exchange; provided, that each of the A Security and the B Security must be a Collateral Debt Obligation and that such A/B Exchanges shall not be considered Discretionary Sales. 

FK Reading Ease
-15.2

FK Grade Level
Graduate School
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