Distribution of CNI Forests Land Holding Sample Clauses

Distribution of CNI Forests Land Holding in accordance with Collective’s Allocation Agreement (a) No Distribution (including on a resettlement under clause 26) may be made involving any part or all of the CNI Forests Land Holding to Beneficiaries except in accordance with the Collective’s Allocation Agreement. (b) If the Collective’s Allocation Agreement has determined ultimate ownership of part or all of the CNI Forests Land Holding and led to agreement that such part or all of the CNI Forests Land Holding should be distributed in specie to one or more Beneficiaries (including during the Specified Transfer Period), the Trustee must give effect to that agreement on the agreed terms (including as to the timing of any vesting of legal or beneficial interest which may be dependent on a request from the Beneficiary) and in respect of the agreed parts of the CNI Forests Land Holding. (c) If the Collective’s Allocation Agreement has determined that part of the underlying land should be distributed in specie to one or more Beneficiaries before the Collective Final Allocation Date (including in particular during the Specified Transfer Period), unless otherwise agreed by Unanimous Resolution the terms of transfer must provide that the Trustee retains within the Trust all rights to income derived from, and management rights relating to, the land until the relevant date. (d) If a Beneficiary has, at or before the Collective Final Allocation Date, received a transfer of all of the CNI forests Land to which the Beneficiary is entitled under the Collective’s Allocation Agreement, the Beneficiary’s Agreed Proportion will be treated, from the relevant date, as having been redeemed in full. (e) Notwithstanding clause 7.4(a) to (c), under Schedule 3 during the Crown Initial Period, the Crown as holder of the Crown Agreed Proportion is entitled to 13.3% of the CNI Forests Land, subject to retention, adjustment down and Distribution as specified in Schedule 3.
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