SHAREHOLDER OPTIONS. The person sponsoring the Rollup shall offer to Shareholders who vote "no" on the proposed Rollup the choice of: (a) accepting the securities of the Rollup Entity offered in the proposed Rollup; or (b) one of the following choices: (i) remaining as Shareholders of the Trust and preserving their interests therein on the same terms and conditions as existed previously; or (ii) receiving cash in an amount equal to the Shareholders' pro rata share of the appraised value of the net assets of the Trust.
Appears in 3 contracts
Samples: Agreement and Declaration of Trust (United Mortgage Trust), Agreement and Declaration of Trust (United Mortgage Trust), Agreement and Declaration of Trust (United Mortgage Trust)
SHAREHOLDER OPTIONS. The person sponsoring the Rollup Roll-Up shall offer to Shareholders who vote "no" on the proposed Rollup Roll-Up the choice of:
(a) accepting the securities of the Rollup Roll-Up Entity offered in the proposed RollupRol-Up; or
(b) one of the following choices:
(i) remaining as Shareholders of the Trust and preserving their interests therein on the same terms and conditions as existed previously; or
(ii) receiving cash in an amount equal to the Shareholders' pro rata share of the appraised value of the net assets Net Assets of the Trust.
Appears in 1 contract
Samples: Declaration of Trust (American Mortgage Investors Trust)
