Limitation on Claim Interests for Securities Laws Purposes. PI Trust Claims, and any interests therein (a) shall not be assigned, conveyed, hypothecated, pledged or otherwise transferred, voluntarily or involuntarily, directly or indirectly, except by will or under the laws of descent and distribution; (b) shall not be evidenced by a certificate or other instrument; (c) shall not possess any voting rights; and (d) shall not be entitled to receive any dividends or interest; provided, however, that clause (a) of this Section 7.8 shall not apply to the holder of a claim that is subrogated to a PI Trust Claim as a result of its satisfaction of such PI Trust Claim.
Appears in 4 contracts
Samples: Trust Agreement (Owens Corning/Fibreboard Asbestos Personal Injury Trust), Raytech Corp Asbestos Personal Injury Settlement Trust, Raytech Corp Asbestos Personal Injury Settlement Trust
Limitation on Claim Interests for Securities Laws Purposes. PI Trust Claims, and any interests therein (a) shall not be assigned, conveyed, hypothecated, pledged pledged, or otherwise transferred, voluntarily or involuntarily, directly or indirectly, except by will or under the laws of descent and distribution; (b) shall not be evidenced by a certificate or other instrument; (c) shall not possess any voting rights; and (d) shall not be entitled to receive any dividends or interest; provided, however, that clause (a) of this Section 7.8 shall not apply to the holder of a claim that is subrogated to a PI Trust Claim as a result of its satisfaction of such PI Trust Claim.
Appears in 2 contracts
Samples: Trust Agreement (W R Grace & Co), Asbestos Pi Trust Agreement (Motors Liquidation Co)
Limitation on Claim Interests for Securities Laws Purposes. PI Trust PI/NAS Claims, and any interests therein (a) shall not be assigned, conveyed, hypothecated, pledged pledged, or otherwise transferred, voluntarily or involuntarily, directly or indirectly, except by will or under the laws of descent and distribution; (b) shall not be evidenced by a certificate or other instrument; (c) shall not possess any voting rights; and (d) shall not be entitled to receive any dividends or interest; provided, however, that clause (a) of this Section 7.8 8.10 shall not apply to the holder Holder of a claim that is subrogated to a PI Trust PI/NAS Claim as a result of its satisfaction of such PI Trust PI/NAS Claim.
Appears in 1 contract
Samples: Mallinckrodt Opioid Personal Injury Trust Agreement
