Common use of Persons Deemed Securityholders Clause in Contracts

Persons Deemed Securityholders. Prior to due presentation of a Trust Securities Certificate for registration of transfer, the Administrative Trustees or the Securities Registrar shall treat the Person in whose name any Trust Securities Certificate shall be registered in the Securities Register as the owner of such Trust Securities Certificate for the purpose of receiving distributions and for all other purposes whatsoever, and, accordingly, shall not be bound to recognize any equitable or other claim to or interest in such Trust Securities Certificate and neither the Trustees nor the Securities Registrar shall be bound by any notice to the contrary.