Common use of Unit Trust Clause in Contracts

Unit Trust. If the Tenant is the trustee of a unit trust, unless the unit trust is listed on an Australian Stock Exchange, any change, or series of changes, in the ownership of units in the unit trust or a holding trust effectively altering the control of the unit trust as at the Commencing Date is deemed to be an assignment of this Lease. In that case the Tenant and the holding trust must not: (a) register, record or enter in their books any transfer of any unit or units in the Unit Trust or the holding trust; (b) deal with any beneficial interest in any such unit or units; (c) issue any new unit or units; or (d) take or attempt to take any action having the effect: (i) of effectively altering the control of the unit trust; (ii) that the unitholders in the unit trust at the date of this Lease at any time cease to beneficially hold or control at least 51% of the units in the unit trust, until after the Tenant has complied with the conditions of clause 13.2 as though an assignment was proposed.

Unit Trust. If the Tenant is the trustee of a unit trust, unless the unit trust is listed on an Australian Stock Exchangerecognised stock exchange, any change, or series of changes, in the ownership of units in the unit trust or a holding trust effectively altering the control of the unit trust as at the Commencing Date is deemed to be an assignment of this Lease. In that case the Tenant and the holding trust must not: (a) register, record or enter in their books any transfer of any unit or units in the Unit Trust or the holding trust; (b) deal with any beneficial interest in any such unit or units; (c) issue any new unit or units; or (d) take or attempt to take any action having the effect: (i) of effectively altering the control of the unit trust; (ii) that the unitholders in the unit trust at the date of this Lease at any time cease to beneficially hold or control at least 51% of the units in the unit trust, until after the Tenant has complied with the conditions of clause 13.2 14.2 as though an assignment was proposed.