Common use of Beneficial Interests Clause in Contracts

Beneficial Interests. (a) The Beneficial Interest of each Stockholder shall be determined in accordance with a certified copy of the Company's stockholder list as of the Record Date. The Company's transfer agent will deliver such a certified copy of the Company's stockholder list to the Trustee within a reasonable time after such date. The Trustee shall be entitled to rely and shall be fully protected in relying upon the certified copy of the Company's stockholder list. For ease of administration, the Trustee shall express the Beneficial Interest of each Beneficiary in terms of units ("Units"). Each record owner of Shares as of the close of business on the Record Date shall receive one Unit for each Share then held of record. In addition, each record owner(s) of Class B Units as of the Record Date

Appears in 2 contracts

Samples: Liquidating Trust Agreement (Shelbourne Properties I Inc), Liquidating Trust Agreement (Shelbourne Properties Iii Inc)

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Beneficial Interests. (a) The Beneficial Interest of each Stockholder shall be determined in accordance with a certified copy of the Company's stockholder list as of the Record Date. The Company's transfer agent will deliver such a certified copy of the Company's stockholder list to the Trustee within a reasonable time after such date. The Trustee shall be entitled to rely and shall be fully protected in relying upon the certified copy of the Company's stockholder list. For ease of administration, the Trustee shall express the Beneficial Interest of each Beneficiary in terms of units ("Units"). Each record owner of Shares as of the close of business on the Record Date shall receive one Unit for each Share then held of record. In addition, each record owner(s) Each Beneficiary shall have a pro rata interest in the Trust Assets equal to the number of Class B Units as held by such owner divided by the total number of the Record DateUnits held by all Beneficiaries.

Appears in 1 contract

Samples: Trust Agreement (Fab Industries Inc)

Beneficial Interests. (a) The Beneficial Interest of each Stockholder shall be determined in accordance with a certified copy of the Company's ’s stockholder list as of the Record Date. The Company's transfer agent Company will deliver such a certified copy of the Company's ’s stockholder list to the Trustee Trustees within a reasonable time after such date. The Trustee Trustees shall be entitled to rely and shall be fully protected in relying upon the certified copy of the Company's ’s stockholder list. For ease of administration, the Trustee Trustees shall express the Beneficial Interest of each Beneficiary in terms of units ("Units"). Each record owner of Shares as of the close of business on the Record Date shall receive one Unit for each Share then held of record. In addition, each record owner(s) Each Beneficiary shall have a pro rata interest in the Trust Assets equal to the number of Class B Units as held by such owner divided by the total number of the Record DateUnits held by all Beneficiaries.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (G REIT Liquidating Trust)

Beneficial Interests. (a) The Beneficial Interest of each Stockholder Initial Beneficiary shall be determined in accordance with a certified copy of the Company's ’s stockholder list as of the Record Date, as delivered by the Company’s transfer agent and attached as Exhibit B hereto. The Company's ’s transfer agent will deliver such a certified copy of the Company's ’s stockholder list to the Trustee within a reasonable time after such date. The Trustee shall be entitled to rely and shall be fully protected in relying upon the certified copy of the Company's stockholder list. For ease of administration, the Trustee shall express the Beneficial Interest of each Beneficiary in terms of units ("Units"). Each record owner of Shares as of the close of business on the Record Date shall receive one Unit for each Share then held of record. In addition, each Each record owner(s) owner of Class B Units Shares shall have the same pro rata interest in the Trust Assets as of such holder’s pro rata interest in the aggregate outstanding Shares on the Record Date.

Appears in 1 contract

Samples: Liquidating Trust Agreement (Genaera Corp)

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Beneficial Interests. (a) The Beneficial Interest of each Stockholder Shareholder shall be determined in accordance with a certified copy of the Company's stockholder ’s shareholder list as of the Record Date. The Company's transfer agent Company will deliver such a certified copy of the Company's stockholder ’s shareholder list to the Trustee within a reasonable time after such date. The Trustee shall be entitled to rely and shall be fully protected in relying upon the certified copy of the Company's stockholder ’s shareholder list. For ease of administration, the Trustee shall express the Beneficial Interest of each Beneficiary in terms of units ("Units"). Each record owner of Shares as of the close of business on the Record Date shall receive one Unit for each Share then held of record. In addition, each record owner(s) Each Beneficiary shall have a pro rata interest in the Trust Assets equal to the number of Class B Units as held by such owner divided by the total number of the Record DateUnits held by all Beneficiaries.

Appears in 1 contract

Samples: Agreement and Declaration of Trust (T Reit Liquidating Trust)

Beneficial Interests. (a) The Beneficial Interest of each Stockholder Initial Beneficiary shall be determined in accordance with a certified copy of the Company's stockholder ’s shareholder list as of the Record Date, as delivered by the Company’s transfer agent and attached as Exhibit B hereto. The Company's ’s transfer agent will deliver such a certified copy of the Company's stockholder ’s shareholder list to the Trustee within a reasonable time after such date. The Trustee shall be entitled to rely and shall be fully protected in relying upon the certified copy of the Company's stockholder list. For ease of administration, the Trustee shall express the Beneficial Interest of each Beneficiary in terms of units ("Units"). Each record owner of Shares as of the close of business on the Record Date shall receive one Unit for each Share then held of record. In addition, each Each record owner(s) owner of Class B Units Shares shall have the same pro rata interest in the Trust Assets as of such holder’s pro rata interest in the aggregate outstanding Shares on the Record Date.

Appears in 1 contract

Samples: Liquidating Trust Agreement (Amv Liquidating Trust)

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