; or (2) in the case of any company other than one described in paragraph (1), a warrant for senior preferred voting stock, or a senior debt instrument from such company. (c) Terms and conditions The terms and conditions of any warrant or senior debt instrument required under subsection (b) shall meet the following requirements: (1) Purposes Such terms and conditions shall, at a minimum, be designed— (A) to provide for reasonable participation by the Secretary, for the benefit of taxpayers, in equity appreciation in the case of a warrant or other equity security, or a reasonable interest rate premium, in the case of a debt instrument; and (B) to provide additional protection for the taxpayer against losses from sale of assets by the Secretary and any associated administrative expenses. (2) Terms of senior preferred voting stock With respect to senior preferred voting stock received from a company, the Secretary shall— (A) have the right to vote on matters brought before the stockholders generally; and (B) control a percentage of votes equal to the percentage of the total value of the company the government’s share will represent after the investment. (3) Authority to sell, exercise, or surrender (A) In general For the primary benefit of taxpayers, the Secretary may sell, exercise, or surrender a warrant or any senior debt instrument received under this section, based on the conditions established under paragraph (1). (B) Proceeds Of any proceeds received through the sale, exercise, or surrender of any warrant or any senior debt instrument— (i) 65 percent shall be transferred or credited to the Housing Trust Fund established under section 1338 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 ( 12 U.S.C. 4568 )