Disposition Trustee definition

Disposition Trustee means a Person, unaffiliated with the Trust or a Prohibited Owner, that is appointed by the Trust to serve as trustee of a Disposition Trust.
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Examples of Disposition Trustee in a sentence

  • The Disposition Trustee shall have all voting rights and rights to dividends or other distributions with respect to Shares held in the Disposition Trust, which rights shall be exercised for the exclusive benefit of the Charitable Beneficiary.

  • The Prohibited Owner shall have no rights in the shares held by the Disposition Trustee.

  • Shares held by the Disposition Trustee shall be issued and outstanding Shares of the Trust.

  • Any dividend or other distribution paid prior to the discovery by the Trust that the Shares have been transferred to the Disposition Trustee shall be paid by the recipient of such dividend or distribution to the Disposition Trustee upon demand and any dividend or other distribution authorized but unpaid shall be paid when due to the Disposition Trustee.

  • The Disposition Trustee shall be appointed by the Trust and shall be a Person unaffiliated with the Trust and any Prohibited Owner.

  • Any dividend or distribution so paid to the Disposition Trustee shall be held in trust for the Charitable Beneficiary.

  • The Prohibited Owner shall not benefit economically from ownership of any shares held in trust by the Disposition Trustee, shall have no rights to dividends or other distributions and shall not possess any rights to vote or other rights attributable to the Shares held in the Disposition Trust.