Examples of Income Unit Holder in a sentence
By this deed, MGL declares that it will hold its rights, title and interest in the Assets - Seller Group upon trust absolutely for the Capital Unit Holder and the income of the Trust absolutely for the Income Unit Holder on the terms described in this Deed.
By this Deed, MGL declares that it will hold the rights, title and interest in the Assets - Seller Group upon trust absolutely for the Capital Unit Holder and the income of the Trust for the Income Unit Holder on the terms described in this Deed.
A copy of these reports will be furnished on request to the Income Unit Holder.
Each of the Residual Income Unit Holder and the Residual Capital Unit Holder holds the beneficial interest in the Trust in accordance with the Master Trust Deed and the Series Notice.
Where the consent or approval of the Income Unit Holder in writing is required by a provision of this Deed, that consent or approval will be conclusively deemed to have been given on production of consent or approval in writing executed by or on behalf of the Income Unit Holder.
The cashflows associated with the Trust are such that it is expected that the Trust will have minimal, if any, taxable income for taxation purposes and that any such income will be taxed in the hands of the Residual Income Unit Holder rather than in the hands of the Trustee.
The Trustee may not recover any distributions from the Residual Income Unit Holder once they are paid except where there has been a manifest error in the calculation of the amount payable to the Residual Income Unit Holder.
The balance of the Excess Available Income (if any) after payment of the amounts in paragraphs (i) to (iv) inclusive shall be paid to the Residual Income Unit Holder in accordance with the Series Notice.
To the extent that there is a Cash Surplus Amount for each Quarterly Period, the amount of that Cash Surplus Amount shall be paid by the Trustee to the Income Unit Holder as an interest free loan by the Trustee to the Income Unit Holder (“Cash Surplus Loan”).
In case the amount falls below Rs.50,000/-, the Management Company may transfer the units to Growth Units.As per clause 9.4 of this Offering Document, a Fixed Income Unit Holder would receive an account statement upon each transaction in his/her account.