Initial Unitholder definition

Initial Unitholder and “Initial Unit” have the meanings ascribed thereto in Section 2.1 hereof;

Initial Unitholder means Granite Real Estate Inc., the settlor of the Trust and holder of the initial Units issued by the Trust;

Initial Unitholder means the person named herein as the first unit holder of the Initial Trust Unit;

Examples of Initial Unitholder in a sentence

• At such time, original capital of $400 by Millburn Ridgefield Corporation (the “Managing Owner”) and $1,600 by the Initial Unitholder, an affiliated entity, was contributed to the Trust.

• At such time, original capital of $400 by the Millburn Ridgefield Corporation (the “Managing Owner”) and $1,600 by the Initial Unitholder, an affiliated entity, was contributed to the Trust.

• The Initial Trustee acknowledged and confirmed the receipt of the Initial Contribution and the Initial Unitholder was issued one Trust Unit having a value of $10.

• At all times prior to the LTIP Termination Date, each Initial Unitholder and each Blocker Shareholder agrees that it shall not Transfer and shall keep free and clear of any pledge, lien, security interest, encumbrance, equities or claim a number of LLC Units or shares of Class A Common Stock, as the case may be, equal to its respective Reserve Amount.

• The Trustees hereby acknowledge and confirm that the Initial Unitholder has made the Initial Contribution to the Trustees for the purpose of establishing the Trust.

More Definitions of Initial Unitholder

Initial Unitholder means InterRent.

Initial Unitholder means Allison Taylor, an individual resident in the City of Calgary, in the Province of Alberta, as the initial holder of Trust Units.

Initial Unitholder means the persons designated on Annex A hereto as receiving OP Units on the date hereof and/or May 25, 2017.

Initial Unitholder means Exchange Tower Limited, a corporation under the laws of Ontario;

Initial Unitholder means the person named in the First Amended and Restated Declaration of Trust as the first holder of the Initial Trust Unit;

Initial Unitholder means Accilent Raw Materials Group Inc., a corporation incorporated under the laws of the Province of Ontario as the initial holder of Trust Units.

Initial Unitholder means the Settlor;