Excess Unit Trust definition

Excess Unit Trust means the trust created pursuant to the provisions of Section 7.04.
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Examples of Excess Unit Trust in a sentence

  • The Purported Record Transferee shall receive the lesser of the price paid by the Purported Record Transferee for the Units or, if the Purported Record Transferee did not give value for the Units, the Market Price of the Units on the day of the event causing the Units to be held in trust, and the price received by the Excess Unit Trust from the sale or other disposition of the Units.

  • Any distributions (whether as dividends, distributions upon liquidation, dissolution or winding up or otherwise) on Excess Units shall be paid to the Excess Unit Trust for the benefit of the Charitable Beneficiary.

  • Any such dividend paid or distribution paid to the Purported Record Transferee in excess of the amount provided in the preceding sentence prior to the discovery by the REIT that the Units with respect to which the dividend or distribution was made had been exchanged for Excess Units shall be repaid by the Purported Record Transferee to the Excess Unit Trust for the benefit of the Charitable Beneficiary.

  • Upon any purported Transfer that results in Excess Units pursuant to Section 6.3, such Excess Units shall be deemed to have been transferred to the Excess Unit Trustee, as trustee of the Excess Unit Trust for the exclusive benefit of the Charitable Beneficiary.

  • The Purported Record Transferee shall receive the lesser of the price paid by the Purported Record Transferee for the Units or, if the Purported Record Transferee did not give value for the Units, the market price of the Units on the day of the event causing the Units to be held in trust, and the price received by the Excess Unit Trust from the sale or other disposition of the Units.

  • The Class A Preferred Units are subject to the provisions of Article 6 of this Agreement, including, without limitation, the provision for the redemption of units transferred to the Excess Unit Trust.

  • Any such dividend paid or distribution paid to the Purported Record Transferee in excess of the amount provided in the preceding sentence prior to the discovery by the Company that the Units with respect to which the dividend or distribution was made had been exchanged for Excess Units shall be repaid by the Purported Record Transferee to the Excess Unit Trust for the benefit of the Charitable Beneficiary.

  • At the direction of the Company, the Excess Unit Trustee shall transfer the Units held in the Excess Unit Trust to a Person whose ownership of the Units will not violate the Ownership Limit or Existing Holder Limit and for whom such transfer would not be wholly or partially void pursuant to Section 10.5(b).

  • Upon the designation of any Units as Excess Units pursuant to Section 10.5(c), such Excess Units shall be deemed to have been transferred immediately before such event to the Excess Unit Trustee, as trustee of the Excess Unit Trust for the exclusive benefit of the Charitable Beneficiary.

  • The Purported Record Assignee shall pay to the Excess Unit Trust (gross of any withholding or other tax payments) all dividends and distributions received by the Purported Record Assignee before the Company discovery that the applicable Units are Excess Units.

Related to Excess Unit Trust

  • unit trust means any trust established for the purpose, or having the effect, of providing facilities for the participation by persons as beneficiaries under a trust, in profits or income arising from the acquisition, holding, management or disposal of securities or any other property.

  • unit trust scheme means any arrangements made for the purpose, or having the effect, of providing for persons having funds available for investment, facilities for the participation by them, as beneficiaries under a trust, in profits or income arising from the acquisition, holding, management or disposal of any property whatsoever;

  • First trust means a trust over which an authorized fiduciary may exercise the decanting power.

  • Blind Trust means an independently managed trust in which the employee-beneficiary has no management rights and in which the employee-beneficiary is not given notice of alterations in or other dispositions of the property subject to the trust.

  • Electric distribution company (EDC) means any electric utility subject to the jurisdiction of the Commission.

  • Distribution Company means a distribution company as defined in Section 1 of Chapter 164 of the Massachusetts General Laws.3

  • Master Trust Trustee means the entity acting as trustee under the applicable Pooling and Servicing Agreement.

  • Excess Energy has the meaning set forth in Section 4.5(a)(i). [For As-Available Product only]

  • Master Trust means Citibank Credit Card Master Trust I.

  • T&C means a term, condition, restriction or requirement imposed by a securities regulatory authority or regulator on the registration of a firm or an individual.

  • relevant trust means a trust established out of funds provided by the Secretary of State in respect of persons who suffered, or who are suffering, from variant Creutzfeldt-Jakob disease for the benefit of persons eligible for payments in accordance with its provisions;

  • Trust Unit means units in the capital of the Trust;

  • Revenue Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Sub-Fund means a segregated pool of assets and liabilities into which the Trust Fund is divided, established under the Trust Deed and the relevant supplemental deed as a separate trust as described in the relevant Appendix.