Common use of Transfer of Units Clause in Contracts

Transfer of Units. The registered holder of any Unit may transfer such Unit by the presentation of transfer instructions to the Trustee at the unit investment trust division office of the Trustee accompanied by such documents as the Trustee deems necessary to evidence the authority of the person making such transfer and executed by the registered holder or his authorized attorney, whereupon the Trustee shall make proper notification of such transfer on the registration books of the Trustee. The Trustee may deem and treat the person in whose name any Unit shall be registered upon the books of the Trustee as the owner of such Unit or Units for all purposes hereunder and the Trustee shall not be affected by any notice to the contrary, nor be liable to any person or in any way for so deeming and treating the person in whose name any Unit shall be so registered. A sum sufficient to pay any tax or other governmental charge that may be imposed in connection with any such transfer shall be paid by the registered holder of the Unit to the Trustee. T. Section 6.01(c) of the Standard Terms and Conditions of Trust shall be replaced in its entirety with the following:

Transfer of Units. The registered holder of any Unit may transfer such Unit by the presentation of transfer instructions to the Trustee at the unit investment trust division office of the Trustee accompanied by such documents as the Trustee deems necessary to evidence the authority of the person making such transfer and executed by the registered holder or his authorized attorney, whereupon the Trustee shall make proper notification of such transfer on the registration books of the Trustee. The Trustee may deem and treat the person in whose name any Unit shall be registered upon the books of the Trustee as the owner of such Unit or Units for all purposes hereunder and the Trustee shall not be affected by any notice to the contrary, nor be liable to any person or in any way for so deeming and treating the person in whose name any Unit shall be so registered. A sum sufficient to pay any tax or other governmental charge that may be imposed in connection with any such transfer shall be paid by the registered holder of the Unit to the Trustee. T. . U. Section 6.01(c) of the Standard Terms and Conditions of Trust shall be replaced in its entirety with the following:

Transfer of Units. The registered holder of any Unit may transfer such Unit by the presentation of transfer instructions to the Trustee at the unit investment trust division office of the Trustee accompanied by such documents as the Trustee deems necessary to evidence the authority of the person making such transfer and executed by the registered holder or his authorized attorney, whereupon the Trustee shall make proper notification of such transfer on the registration books of the Trustee. The Trustee may deem and treat the person in whose name any Unit shall be registered upon the books of the Trustee as the owner of such Unit or Units for all purposes hereunder and the Trustee shall not be affected by any notice to the contrary, nor be liable to any person or in any way for so deeming and treating the person in whose name any Unit shall be so registered. A sum sufficient to pay any tax or other governmental charge that may be imposed in connection with any such transfer shall be paid by the registered holder of the Unit to the Trustee. T. U. Section 6.01(c) of the Standard Terms and Conditions of Trust shall be replaced in its entirety with the following:

Transfer of Units. The registered holder of any Unit may transfer such Unit by the presentation of transfer instructions to the Trustee at the unit investment trust division office of the Trustee accompanied by such documents as the Trustee deems necessary to evidence the authority of the person making such transfer and executed by the registered holder or his authorized attorney, whereupon the Trustee shall make proper notification of such transfer on the registration books of the Trustee. The Trustee may deem and treat the person in whose name any Unit shall be registered upon the books of the Trustee as the owner of such Unit or Units for all purposes hereunder and the Trustee shall not be affected by any notice to the contrary, nor be liable to any person or in any way for so deeming and treating the person in whose name any Unit shall be so registered. A sum sufficient to pay any tax or other governmental charge that may be imposed in connection with any such transfer shall be paid by the registered holder of the Unit to the Trustee. T. Section 6.01(c) of the Standard Terms and Conditions of Trust shall be replaced in its entirety with the following: