Ownership in Trust. Upon any purported Transfer or other event described in Section 14.1(a) and (b) that would result in a transfer of Shares to a Charitable Trust, such Shares shall be deemed to have been transferred to the Charitable Trustee as trustee of a Charitable Trust for the exclusive benefit of one or more Charitable Beneficiaries. Such transfer to the Charitable Trustee shall be deemed to be effective as of the close of business on the Business Day prior to the purported Transfer or other event that results in the transfer to the Charitable Trust pursuant to Section 14.1(b). The Charitable Trustee shall be appointed by the Trust and shall be a Person that is not an Affiliate of the Trust or an Affiliate of any Prohibited Owner. Each Charitable Beneficiary shall be designated by the Trust as provided in Section 14.2(g).
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Samples: Franklin BSP Real Estate Debt BDC (Franklin BSP Real Estate Debt BDC), Real Estate Credit BDC (Franklin BSP Real Estate Credit BDC)
Ownership in Trust. Upon any purported Transfer or other event described in Section 14.1(a) and (b6.9.1(b) that would result in a transfer Transfer of Shares to a Charitable Trust, such Shares shall be deemed to have been transferred Transferred to the Charitable Trustee as trustee of a Charitable Trust for the exclusive benefit of one or more Charitable Beneficiaries. Such transfer Transfer to the Charitable Trustee shall be deemed to be effective as of the close of business on the Business Day prior to the purported Transfer or other event that results in the transfer Transfer to the Charitable Trust pursuant to Section 14.1(b6.9.1(b). The Charitable Trustee shall be appointed by the Trust and shall be a Person that is not an Affiliate of unaffiliated with the Trust or an Affiliate of and any Prohibited Owner. Each Charitable Beneficiary shall be designated by the Trust as provided in Section 14.2(g6.9.10(f).
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Samples: Agreement and Declaration of Trust (Accordant ODCE Index Fund)
Ownership in Trust. Upon any purported Transfer or other event described in Section 14.1(a) and (b11.2(b) that would result in a transfer Transfer of Shares to a Charitable Trust, such Shares shall be deemed to have been transferred to the Charitable Trustee as trustee of a Charitable Trust for the exclusive benefit of one or more Charitable Beneficiaries. Such transfer Transfer to the Charitable Trustee shall be deemed to be effective as of the close of business on the Business Day prior to the purported Transfer or other event that results in the transfer Transfer to the Charitable Trust pursuant to Section 14.1(b11.2(b). The Charitable Trustee shall be appointed by the Trust Company and shall be a Person that is not an Affiliate of unaffiliated with the Trust or an Affiliate of Company and any Prohibited Owner. Each Charitable Beneficiary shall be designated by the Trust Company as provided in Section 14.2(g11.3(g).
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Samples: Limited Liability Company Operating Agreement (Greenbacker Renewable Energy Co LLC)
Ownership in Trust. Upon any purported Transfer or other event described in Section 14.1(a) and (b7.1.1(b) that would result in a transfer of Shares to a Charitable Trust, such Shares shall be deemed to have been transferred to the Charitable Trustee as trustee of a Charitable Trust for the exclusive benefit of one or more Charitable Beneficiaries. Such transfer to the Charitable Trustee shall be deemed to be effective as of the close of business on the Business Day prior to the purported Transfer or other event that results in the transfer to the Charitable Trust pursuant to Section 14.1(b7.1.1(b). The Charitable Trustee shall be appointed by the Trust Corporation and shall be a Person that is not an Affiliate of unaffiliated with the Trust or an Affiliate of Corporation and any Prohibited Owner. Each Charitable Beneficiary shall be designated by the Trust Corporation as provided in Section 14.2(g)7.2.6.
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Samples: Agreement and Plan of Merger (Cole Credit Property Trust III, Inc.)
Ownership in Trust. Upon any purported Transfer or other event described in Section 14.1(a) and (b7.2(a)(ii) that would result in a transfer of Equity Shares to a Charitable Trust, such Equity Shares shall be deemed to have been transferred to the Charitable Trustee as trustee of a Charitable Trust for the exclusive benefit of one or more Charitable Beneficiaries. Such transfer to the Charitable Trustee shall be deemed to be effective as of the close of business on the Business Day prior to the purported Transfer or other event that results in the transfer to the Charitable Trust pursuant to Section 14.1(b7.2(a)(ii). The Charitable Trustee shall be appointed by the Trust and shall be a Person that is not an Affiliate of unaffiliated with the Trust or an Affiliate of and any Prohibited Owner. Each Charitable Beneficiary shall be designated by the Trust as provided in Section 14.2(g7.3(f).
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