Transfer to Trust. At the Effective Time, the Depositor shall transfer and deposit into the Trust, for the purposes set forth herein, that number of shares of Common Stock equal to (a) the total number of shares of Common Stock issued pursuant to the Exchange less (b) that number of shares of Common Stock distributed in connection with the Initial Distribution. Such deposit, together with any dividends or distributions thereon made after the Effective Time and all other assets or rights held from time to time by the Trust, shall constitute the “Trust Estate.” In connection with such initial deposit, at the Effective Time, the Depositor shall deliver, or cause to be delivered, to the Trustee written confirmation of the number of shares of Common Stock that have been issued in the name of the Trust. In connection with each deposit made after the Effective Time, the Depositor shall deliver, or cause to be delivered, to the Trustee a written notice describing the assets so deposited and the rights of the Beneficiaries with respect thereto.
Transfer to Trust. Any Shareholder who is an individual may make a gratuitous transfer during his lifetime, without the written consent of the other parties to this Agreement (but with prompt written notice of any such transfer to be given to the other parties to this Agreement), of all or any part of his Stock to a revocable trust in which the Shareholder retains the absolute power to have the transferred Stock returned to him.
Transfer to Trust. The Optionee shall have the right to transfer all or any portion of the Optionee's interest in the Shares issued and delivered under this Agreement, to a trust established by the Optionee for the benefit of the Optionee or the Optionee's spouse or children, without being subject to the provisions of this Section 7, provided that the trustee on behalf of such trust shall agree in writing on a form prescribed by the Company to be bound by this Agreement.
Transfer to Trust. (a) Grantor shall contribute the Trust Units to the Trust on the Closing Date and prior to the Effective Time. Grantor represents that, in the event the record date for any regular or special meeting or written consent of the holders of TransCo Common Units were to fall in the period between the Distribution Date and the Effective Time, Grantor would vote or consent the Trust Units in the same proportion as all other TransCo Common Units are voted or consented.
Transfer to Trust. In the event that the Purchaser's Class A Notes no longer have an investment grade rating, the Purchaser shall transfer any remaining Repurchase Shares to a trust which shall hold such Repurchase Shares subject to an agreement embodying the provisions of this Section 7.04. The trust shall have no business other than holding such Repurchase Shares. The Purchaser shall be the sole beneficial owner of such trust and shall have the right to appoint the trustee of the trust. Any expenses of the trust and the trustee shall be paid by the Company.
Transfer to Trust. The Company transfers and assigns to the Trust, and the Trust hereby accepts, the Company’s entire right, title and interest in and to all of the Company’s assets, properties, rights and claims, all of which to be transferred subject to any liabilities thereon (the “Assets”) and all proceeds and income from investment and reinvestment in respect thereof (together with the Assets, the “Trust Property”).
Transfer to Trust. Not transfer any of its assets to a trust without the prior written consent of the Bank which consent may be given, conditioned or withheld.
Transfer to Trust. The Participant, with the approval of the Committee and to the extent consistent with Section 422 of the Code, may transfer the Option for no consideration to or for the benefit of a trust if under Section 671 of the Code and applicable state law, the HOU01:938104.4 -6- Participant is considered the sole beneficial owner of the Option while it is held in the trust.
Transfer to Trust. A Member may sell or otherwise transfer its interest in the Company to an inter vivos trust for the benefit of such Member, of which trust the Member will be the grantor and the trustee during the Member’s lifetime.
Transfer to Trust. Except for assets being transferred (i) to Xxxx Xxxxx Development, LLC pursuant to that certain Stock Purchase Agreement between the Company and Xxxx Xxxxx Development, LLC dated as of April 30, 2012, and (ii) to Bellemeade Development, LLC pursuant to that certain Partnership Interest Purchase Agreement between the Company and Bellemeade Development, LLC dated as of April 30, 2012 (the “Purchase Agreements”), the Company hereby transfers, conveys and assigns to the Trust and the Trust hereby accepts the Company’s entire right, title and interest in and to all assets (tangible or intangible, known or unknown, whether personal property, real property or mixed) which the Company owns, holds or otherwise possesses (including those listed on Exhibit B attached hereto and made a part hereof, the “Assets”) and all proceeds and income therefrom, including from investment and reinvestment in respect thereof (together with the Assets, the “Trust Property”). The Trust Property is transferred and assigned to the Trust, and the Trust shall hold and deal with the Trust Property, in trust for the purpose of satisfying liabilities of the Company and of the Trust for the ultimate benefit of the “Beneficiaries” (as hereinafter defined), on the terms and conditions herein set forth. It is the intention of the parties that the Trust shall acquire title to the Assets and Trust Property so that the liquidation of the Trust Property shall be completed within six (6) years from the date of the formation of the Trust, and that all claims and obligations of the Company shall be paid or otherwise provided for as contemplated by the Company’s Amended Plan of Complete Liquidation and Dissolution.
