Common use of Death of a Unitholder Clause in Contracts

Death of a Unitholder. The death of a Unitholder during the continuance of the Trust shall not terminate the Trust or any of the mutual or respective rights and obligations created by or arising hereunder nor give such Unitholder’s legal representatives a right to an accounting or to take any action in the Courts or otherwise against other Unitholders or the Manager, or the Trust Property, but shall merely entitle the personal representative of the deceased Unitholder to be registered as the holder of such Units pursuant to the provisions of Sections 5.4 and 5.7 in place of the deceased Unitholder and upon acceptance thereof such personal representative shall succeed to all rights of the deceased Unitholder hereunder.

Death of a Unitholder. The death of a Unitholder during the continuance of the Trust shall not terminate the Trust or any of the mutual or respective rights and obligations created by or arising hereunder nor give such Unitholder’s legal representatives a right to an accounting or to take any action in the Courts or otherwise against other Unitholders or the Manager, or the Trust Property, but shall merely entitle the personal representative of the deceased Unitholder to be registered as the holder of such Units pursuant to the provisions of Sections 5.4 and 5.7 in place of the deceased Unitholder and upon acceptance thereof such personal representative shall succeed to all rights of the deceased Unitholder hereunder.

Death of a Unitholder. The death of a Unitholder during the continuance of the Trust shall not terminate the Trust or any of the mutual or respective rights and obligations created by or arising hereunder under this Indenture nor give such Unitholder’s legal representatives 's personal representative a right to an accounting or to take any action in the Courts court or otherwise against other Unitholders or the Manager, Trustee or the Trust PropertyFund, but shall merely entitle the personal representative representatives of the deceased Unitholder to be registered as the holder of such Units demand and receive, pursuant to the provisions of Sections 5.4 and 5.7 hereof, a new Trust Certificate for Trust Units in place of the Trust Certificate held by the deceased Unitholder Unitholder, and upon the acceptance thereof such personal representative representatives shall succeed to all rights of the deceased Unitholder hereunderunder this Indenture.

Death of a Unitholder. The death of a Unitholder during the continuance of the Trust shall not terminate the Trust or any of the mutual or respective rights and obligations created by or arising hereunder under this Indenture nor give such Unitholder’s legal representatives 's personal representative a right to an accounting or to take any action in the Courts court or otherwise against other Unitholders or the Manager, Trustee or the Trust PropertyFund, but shall merely entitle the personal representative representatives of the deceased Unitholder to be registered as the holder of such Units demand and receive, pursuant to the provisions of Sections 5.4 and 5.7 hereto, a new Certificate for Trust Units in place of the Certificate held by the deceased Unitholder Unitholder, and upon the acceptance thereof such personal representative representatives shall succeed to all rights of the deceased Unitholder hereunderunder this Indenture.

Death of a Unitholder. The death of a Unitholder during the continuance of the Trust Fund shall not terminate the Trust Fund or any of the mutual or respective rights and obligations created by or arising hereunder under this Indenture nor give such Unitholder’s legal representatives 's personal representative a right to an accounting or to take any action in the Courts court or otherwise against other Unitholders or the Manager, Trustee or the Trust PropertyFund property, but shall merely entitle the personal representative representatives of the deceased Unitholder to be registered as the holder of such Units demand and receive, pursuant to the provisions of Sections 5.4 and 5.7 hereof, a new Unit Certificate for Units in place of the Unit Certificate held by the deceased Unitholder Unitholder, and upon the acceptance thereof such personal representative representatives shall succeed to all rights of the deceased Unitholder hereunderunder this Indenture.