Common use of Creation and Distribution Clause in Contracts

Creation and Distribution. Ownership of the entire Beneficial Interest shall be divided into [·] Trust Units. The Trust Units shall be uncertificated and ownership thereof shall be evidenced by entry of a notation in an ownership ledger maintained for such purpose by the Trustee or a transfer agent designated by the Trustee. The Trust Unitholders from time to time shall be the sole beneficial owners of the Trust Estate.

Creation and Distribution. Ownership of the entire Beneficial Interest shall be divided into [·•] Trust Units. The Trust Units shall be uncertificated and ownership thereof shall be evidenced by entry of a notation in an ownership ledger maintained for such purpose by the Trustee or a transfer agent designated by the Trustee. The Trust Unitholders from time to time shall be the sole beneficial owners of the Trust Estate.

Creation and Distribution. Ownership of the entire Beneficial Interest shall be divided into [·[ ] Trust Units, of which [ ] shall be Common Units and [ ] shall be Subordinated Units. The Trust Units shall initially be uncertificated and ownership thereof shall be evidenced by entry of a notation in an ownership ledger maintained for such purpose by the Trustee or a transfer agent designated by the Trustee. The Trust Unitholders from time to time shall be the sole beneficial owners of the Trust EstateEstate and the Trust.

Creation and Distribution. Ownership of the entire Beneficial Interest shall be divided into [·] Trust Units. The Trust Units shall be uncertificated and ownership thereof shall be evidenced by entry of a notation in an ownership ledger maintained for such purpose by the Trustee or a transfer agent designated by the Trustee. The holders of the Trust Unitholders Units from time to time shall be the sole beneficial owners beneficiaries of principal and interest of the Trust EstateTrust.