Common use of Consolidation of Trust Units Clause in Contracts

Consolidation of Trust Units. Immediately after any pro rata distribution of additional Trust Units to all Unitholders pursuant to Sections 5.5 or Section 5.8, the number of outstanding Trust Units will be consolidated such that each Unitholder will hold after the consolidation the same number of Trust Units as the Unitholder held before the distribution of additional Trust Units. In such case, each Trust Unit Certificate representing a number of Trust Units prior to the distribution of additional Trust Units is deemed to represent the same number of Trust Units after the distribution of additional Trust Units and the consolidation.

Consolidation of Trust Units. Immediately after any pro rata distribution of additional Trust Units to all Unitholders pursuant to Sections 5.5 or Section 5.8, the number of outstanding Trust Units will be consolidated such that each Unitholder will hold after the consolidation the same number of Trust Units as the Unitholder held before the distribution of additional Trust Units. In such case, if applicable, each Trust Unit Certificate representing a number of Trust Units prior to the distribution of additional Trust Units is deemed to represent the same number of Trust Units after the distribution of additional Trust Units and the consolidation.

Consolidation of Trust Units. Immediately after any pro rata distribution of additional Trust Units to all Unitholders pursuant to Sections 5.5 or Section 5.8, the number of the outstanding Trust Units will be consolidated such that each Unitholder will hold after the consolidation the same number of Trust Units as the Unitholder held before the distribution of additional Trust Units. In such case, each Trust Unit Certificate representing a number of Trust Units prior to the distribution of additional Trust Units is deemed to represent the same number of Trust Units after the distribution of additional Trust Units and the consolidation.