Common use of Rights Upon Liquidation Clause in Contracts

Rights Upon Liquidation. Upon any voluntary or involuntary liquidation, dissolution or winding up of or any distribution of the assets of the Trust, the Charitable Trustee shall be entitled to receive, ratably with each other holder of Equity Shares of the class or series of Equity Shares that is held in the Charitable Trust, that portion of the assets of the Trust available for distribution to the holders of such class or series (determined based upon the ratio that the number of shares of such class or series of Equity Shares held by the Charitable Trustee bears to the total number of shares of such class or series of Equity Shares then outstanding). The Charitable Trustee shall distribute any such assets received in respect of the Equity Shares held in the Charitable Trust in any liquidation, dissolution or winding up or distribution of the assets of the Trust, in accordance with Section 5.3.5.

Appears in 3 contracts

Samples: Agreement and Declaration of Trust (RMR Real Estate Income Fund), Agreement and Declaration of Trust (RMR Asia Pacific Real Estate Fund), RMR Preferred Income Fund (RMR Preferred Income Fund)

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Rights Upon Liquidation. Upon any voluntary or involuntary liquidation, dissolution or winding up of or any distribution of the assets of the Trust, the Charitable Trustee shall be entitled to receive, ratably with each other holder of Equity Shares of the class or series of Equity Shares that is held in the Charitable Trust, that portion of the assets of the Trust available for distribution to the holders of such class or series (determined based upon the ratio that the number of shares of such class or series of Equity Shares held by the Charitable Trustee bears to the total number of shares of such class or series of Equity Shares then outstanding). The Charitable Trustee shall distribute any such assets received in respect of the Equity Shares held in the Charitable Trust in any liquidation, dissolution or winding up or distribution of the assets of the Trust, in accordance with Section 5.3.55.3(e).

Appears in 2 contracts

Samples: Agreement and Declaration of Trust (Peerless Value Opportunity Fund), Agreement and Declaration of Trust (Peerless Value Opportunity Fund)

Rights Upon Liquidation. Upon any voluntary or involuntary liquidation, dissolution or winding up of or any distribution of the assets of the TrustCompany, the Charitable Trustee shall be entitled to receive, ratably with each other holder of Equity Shares of the class Class or series of Equity Shares that is held in the Charitable Trust, that portion of the assets of the Trust Company available for distribution to the holders of such class Class or series (determined based upon the ratio that the number of shares Shares of such class Class or series of Equity Shares held by the Charitable Trustee bears to the total number of shares Shares of such class Class or series of Equity Shares then outstanding). The Charitable Trustee shall distribute any such assets received in respect of the Equity Shares held in the Charitable Trust in any liquidation, dissolution or winding up of, or distribution of the assets of the TrustCompany, in accordance with Section 5.3.511.3(e).

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (Greenbacker Renewable Energy Co LLC)

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Rights Upon Liquidation. Upon any voluntary or involuntary liquidation, dissolution or winding up of or any distribution of the assets of the Trust, the Charitable Trustee shall be entitled to receive, ratably with each other holder of Equity Shares of the class or series of Equity Shares that is held in the Charitable Trust, that portion of the assets of the Trust available for distribution to the holders of such class or series (determined based upon the ratio that the number of shares of such class or series of Equity Shares held by the Charitable Trustee bears to the total number of shares of such class or series of Equity Shares then outstanding). The Charitable Trustee shall distribute any such assets received in respect of the Equity Shares held in the Charitable Trust in any liquidation, dissolution or winding up or distribution of the assets of the Trust, in accordance with Section 5.3.513.3(e).

Appears in 1 contract

Samples: Agreement and Declaration of Trust (BlackRock Legacy Securities Public-Private Trust)

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