Common use of Fractional Rights and Fractional Units Clause in Contracts

Fractional Rights and Fractional Units. (a) The Trust shall not be required to issue fractions of Rights or to distribute Rights Certificates which evidence fractional Rights. After the Separation Time there shall be paid to the registered holders of the Rights Certificates, with regard to which fractional Rights would otherwise be issuable, an amount in cash equal to the same fraction of the Market Price of a whole Right in lieu of such fractional Rights as of the date such fractional Rights would otherwise be issuable. The Rights Agent shall have no obligation to make any payments in lieu of fractional Rights unless the Trust shall have provided the Rights Agent with the necessary funds to pay in full all amounts payable in accordance with subsection 2.2(e). (b) The Trust shall not be required to issue fractional Units upon exercise of the Rights or to distribute certificates which evidence fractional Units. In lieu of issuing fractional Units, the Trust shall pay to the registered holder of Rights Certificates, at the time such Rights are exercised as herein provided, an amount in cash equal to the same fraction of the Market Price of one Unit at the date of such exercise. The Rights Agent shall have no obligation to make any payments in lieu of fractional Units unless the Trust shall have provided the Rights Agent with the necessary funds to pay in full all amounts payable in accordance with subsection 2.2(e).

Fractional Rights and Fractional Units. (a1) The Trust shall not be required to issue fractions of Rights or to distribute Rights Certificates which evidence fractional Rights. After Subject to Section 5.03, after the Separation Time there shall be paid to the registered holders of the Rights Certificates, Certificates with regard to which fractional Rights would otherwise be issuable, an amount in cash equal to the same fraction of the Market Price Value of a whole Right in lieu of such fractional Rights as of the date such fractional Rights would otherwise be issuableRights. The Rights Agent shall have no obligation to make any payments in lieu of fractional Rights unless the Trust shall have provided the Rights Agent with the necessary funds to pay in full all amounts payable in accordance with subsection 2.2(eunder Subsection 2.02(5)(c). (b2) The Certificates for New Units shall only be issued upon written request to the Trust and the Trust shall not be required in any circumstances to issue fractional New Units upon exercise of the Rights or to distribute certificates which evidence fractional New Units. In lieu of issuing fractional New Units, the Trust shall pay to the registered holder of Rights Certificates, Certificates at the time such Rights are exercised as herein provided, an amount in cash equal to the same fraction of the Market Price Value of one Unit at the date of such exerciseNew Unit. The Rights Agent shall have no obligation to make any payments in lieu of fractional Units Rights unless the Trust shall have provided the Rights Agent with the necessary funds to pay in full all amounts payable in accordance with subsection 2.2(eunder Subsection 2.02(5)(c).

Fractional Rights and Fractional Units. (a) The Trust Fund shall not be required to issue fractions of Rights or to distribute Rights Certificates which evidence fractional Rights. After the Separation Time Time, there shall be paid to the registered holders of the Rights Certificates, Certificates with regard to which fractional Rights would otherwise be issuable, an amount in cash equal to the same fraction of the Market Price of a whole Right in lieu of such fractional Rights as of the date such fractional Rights would otherwise be issuable. The Rights Agent shall have no obligation to make any payments in lieu of fractional Rights unless the Trust shall have provided the Rights Agent with the necessary funds to pay in full all amounts payable in accordance with subsection 2.2(e)Rights. (b) The Trust Fund shall not be required to issue fractional Units upon exercise of the Rights or to distribute certificates which evidence fractional Units. In lieu of issuing fractional Units, the Trust Fund shall pay to the registered holder of Rights Certificates, Certificates at the time such Rights are exercised as herein provided, an amount in cash equal to the same fraction of the Market Price of one Unit at the date of such exerciseUnit. The Rights Agent shall have no obligation to make any payments in lieu of fractional Units Rights unless the Trust Fund shall have provided the Rights Agent with the necessary funds to pay in full all amounts payable in accordance with subsection Section 2.2(e).