Transfers of Beneficial Interests. The following voluntary or involuntary sales, encumbrances, conveyances, transfers and pledges (each, a “Transfer”) of a direct, indirect or beneficial interest shall be permitted without Lender’s consent and Rating Agency Confirmation (“Permitted Ownership Interest Transfers”):
Transfers of Beneficial Interests. (a) The Beneficial Interests in the Post-Consummation Trust have not been registered pursuant to the Securities Act of 1933, as amended (the “Securities Act”), or any state securities law. To the extent that the Beneficial Interests constitute “securities,” the parties hereto intend that the exemption provisions of section 1145 of the Bankruptcy Code shall apply to the issuance and distribution of the Beneficial Interests. The Beneficial Interests shall not be capable of being transferred, assigned, pledged or hypothecated, in whole or in part, unless the conditions set forth in Section 2.5(b) below are met. Any such transfer, assignment, pledge or hypothecation, however, will not be effective until and unless the Plan Administrator receives written notice of such transfer, assignment, pledge or hypothecation, which notice must be in the form attached hereto as Annex A and be executed by the transferor and the transferee and must clearly identify the Beneficial Interest being transferred, assigned, pledged or hypothecated. The Plan Administrator is entitled to rely upon such notice as definitive evidence of such transfer, assignment, pledge or hypothecation without additional investigation. Transfers of record made in accordance with this Section 2.5 shall be indicated on the books and records of the Plan Administrator maintained for such purpose. Any transfer, assignment, pledge or hypothecation of a Beneficial Interest or any part thereof in violation of this Section 2.5 shall be void ab initio.
Transfers of Beneficial Interests. The Beneficiary of the Trust shall not assign, convey or otherwise transfer any of its right, title or interest in and to the Trust.
Transfers of Beneficial Interests. Subject to Sections 2.08 and 2.16 of the Indenture, interests of beneficial owners in a Global Security shall be transferred in accordance with the rules and procedures of Euroclear and Clearstream (or their respective successors).
Transfers of Beneficial Interests. The Litigation Trust Interests shall not be capable of being transferred, assigned, pledged or hypothecated, in whole or in part, except upon the death of the interest holder or by operation of law. Any purported transfer, assignment, pledge or hypothecation of a Litigation Trust Interest or any part thereof not permitted by this Section shall constitute a violation of this Litigation Trust Agreement and shall be void ab initio.
Transfers of Beneficial Interests. Beneficial interests in the Liquidating Trust shall be nontransferable except upon death of the interest holder or by operation of law. The Liquidating Trust shall not have any obligation to recognize any transfer of Claims occurring after the Voting Record Date. In making any Distribution with respect to any Allowed Claim against Liquidating Debtors, the Liquidating Trustee shall only recognize and deal with, for all purposes hereunder and under the Plan, the Entity that is listed on the proof of Claim filed with respect thereto or on the Schedules as the Holder thereof as of the close of business on the Voting Record Date and upon such other evidence or record of transfer or assignment that was known to the Debtors as of the Voting Record Date and is available to the Liquidating Trustee.
Transfers of Beneficial Interests. Any Person that acquires a beneficial interest in any Loans other than in accordance with subsection 10.1B or C shall not be entitled to the benefits of subsection 2.7.
Transfers of Beneficial Interests. Beneficial Interests in the Liquidation Trust shall be nontransferable except upon death of the interest holder or by operation of law. The Liquidation Trust shall not have any obligation to recognize any transfer of Claims occurring after the Effective Date except as specified in this Section 6.6. Except as specified in this Section 6.6, only those holders of Claims of record stated on the transfer ledgers and other records of the claims agent, Prime Clerk LLC, as of the close of business on the Effective Date, to the extent applicable, shall be entitled to be recognized, to the extent such Claims are Allowed, for all purposes hereunder.
Transfers of Beneficial Interests. Interests of Beneficial Owners in a Global Warrant registered in the name of DTC or its nominee shall only be transferred in accordance with the procedures of DTC, the applicable Participant and applicable law.
Transfers of Beneficial Interests. The TrusteeLiquidating Trust Board, after consultation with his or her counsel, shall establish procedures to govern the registration and transfer of beneficial interests (such procedures, a “Permitted Transfer ”), provided that such procedures shall be reasonably acceptable to the Liquidating Trust Committee. ”). Once such procedures have been established, the TrusteeLiquidating Trust Board shall notify all holders of Beneficial Interestsbeneficial interests of such procedures. Notwithstanding the foregoing, a transfer of a Beneficial Interestbeneficial interest shall be not be permitted by the Liquidating TrusteeTrust Board if such transfer would be contrary to maintaining the Liquidating Trust as a liquidating trust for federal income tax purposes in accordance with Treasury Regulation § 301.7701-4(d) and as one or more “grantor trusts” subject to the provisions of Chapter 1, Subchapter J, Part I, Subpart E of the IRC.
