Testamentary Transfer definition
Testamentary Transfer means a transfer of any Equity Interest of any class in the Distributor or a Parent upon the death of the owner thereof by testamentary bequest or other disposition by the estate of such owner.
Examples of Testamentary Transfer in a sentence
All persons, trusts or accounts who acquire Trust Certificates solely as a result of a Permitted Transfer or as a result of a Permitted Testamentary Transfer under Section 5.07 are referred to as the “Permitted Transferees” of the Beneficiary from whom, directly or indirectly through transfers under this Section 5.02, such person, trust or account acquired Trust Certificates.