Examples of Participating Preferred Trust Unitholder in a sentence
There may be significant adverse tax consequences to a Participating Preferred Trust Unitholder that receives Redemption Notes or other non-cash property of the Trust on the redemption of Participating Preferred Trust Units.
Redemptions A holder of Participating Preferred Trust Units is entitled to require the Trust to redeem, at any time at the demand of the holder, all or any part of the Participating Preferred Trust Units registered in the name of the Participating Preferred Trust Unitholder.
A Participating Preferred Trust Unitholder has the right to examine the books and records of the Class in which he or she holds Participating Preferred Trust Units at all reasonable times.
There are no restrictions as to the maximum number of Participating Preferred Trust Units that a Participating Preferred Trust Unitholder may hold in the Trust, subject to limitations on the number of Participating Preferred Trust Units that may be held by Financial Institutions and provisions relating to take-over bids.
At all meetings of the Participating Preferred Trust Unitholders, each Participating Preferred Trust Unitholder will be entitled to one vote for each Participating Preferred Trust Unit held in respect of all matters upon which holders of Participating Preferred Trust Units of that Class are entitled to vote.
The Administrator has been granted all necessary power, on behalf of the Trust and each Participating Preferred Trust Unitholder, to implement Offers, transfer the assets of the Trust pursuant to a Liquidity Event, implement the dissolution of the Trust thereafter and to file all elections deemed necessary or desirable by the Administrator to be filed under the Tax Act and any other applicable tax legislation in respect of any transaction with another entity or the dissolution of the Trust.
Each Participating Preferred Trust Unitholder will contribute to the capital of the Trust the applicable purchase price for each Participating Preferred Trust Unit purchased.
If at any time the number of Trustees then in office is less than the minimum number of trustees of the Trust required (being two in number) then at any time a Participating Preferred Trust Unitholder, a Trustee or any other interested person may apply to a court of competent jurisdiction for the appointment of a trustee(s) in order that the required minimum number be maintained.
The minimum purchase for each Participating Preferred Trust Unitholder is $10,000 in Participating Preferred Trust Units.
Any such payment made as a return of capital to a Participating Preferred Trust Unitholder will generally not be subject to tax but will reduce the adjusted cost base of the Participating Preferred Trust Unitholder’s Participating Preferred Trust Units and may result in a capital gain to the extent (if any) that the adjusted cost base thereby becomes negative.