Pro Rata Distribution. If, upon any Liquidation Event, the available assets of the Trust are insufficient to pay the full amount of the Liquidation Preference on all outstanding Preferred Shares, including Series A Preferred Shares, then the holders of the Preferred Shares, including the Series A Preferred Shares, shall share ratably in any such distribution of assets in proportion to the full Liquidation Preference to which they would otherwise be respectively entitled.
Appears in 2 contracts
Sources: Supplement to the Amended and Restated Agreement and Declaration of Trust (Overland Advantage), Supplement to the Third Amended and Restated Agreement and Declaration of Trust (Franklin BSP Real Estate Debt BDC)