Common use of Issuance Price for Additional Issuances Clause in Contracts

Issuance Price for Additional Issuances. The issuance price for any Additional Issuance will be determined pursuant to the following; provided, that such price shall be approved by the Ordinary Holders Meeting authorizing the Additional Issuance: (a) if the Additional Issuance is made to the Manager or any of its Affiliates in relation to the reinvestment of an amount equivalent to the Net Base Management Fee or the Net Performance Fee, as provided for in the Management Agreement, an issuance price equal to the average closing price per CBFI during the last 60 (sixty) Trading Days up to and including the applicable Calculation Date; provided, that the Ordinary Holders Meeting may request to hire an independent expert to determine such price charged to the Trust Estate (in which case it will be considered as Trust Expense and the independence of such expert shall be qualified by the Technical Committee); and provided, further, that the Trustee may make Additional Issuances at a different price than the one set forth in this paragraph (a) at any time with the prior approval of the Ordinary Holders Meeting; and (b) if an Additional Issuance is made as consideration for an Investment (including if a third party contributes real estate properties to the Trust or to an Investment Trust and such third party were to receive CBFIs as payment) or other transaction by the Trust or any Investment Trust, or otherwise in accordance with Section 3.2 herein, the price and the terms of such Additional Issuance shall be determined by the Ordinary Holders Meeting that approves such Additional Issuance.

Issuance Price for Additional Issuances. The issuance price for any Additional Issuance will be determined pursuant to the following; provided, that such price shall be approved by the Ordinary Holders Meeting authorizing the Additional Issuance: (a) if the Additional Issuance is made to the Manager or any of its Affiliates in relation to the reinvestment of an amount equivalent to the Net Base Management Fee or the Net Performance Fee, as provided for in the Management Agreement, an issuance price equal to the average closing price per CBFI during the last 60 (sixty) Trading Days up to and including the applicable Calculation Date; provided, that the Ordinary Holders Meeting may request to hire an independent expert to determine such price charged to the Trust Estate (in which case it will be considered as Trust Expense and the independence of such expert shall be qualified by the Technical CommitteeExpense); and provided, further, that the Trustee may make Additional Issuances at a different price than the one set forth in this paragraph paragraph (a) at any time with the prior approval of the Ordinary Holders Meeting; and (b) if an Additional Issuance is made as consideration for an Investment (including if a third party contributes real estate properties to the Trust or to an Investment Trust and such third party were to receive CBFIs as payment) or other transaction by the Trust or any Investment Trust, or otherwise in accordance with Section 3.2 herein, the price and the terms of such Additional Issuance shall be determined by the Ordinary Holders Meeting that approves such Additional Issuance.