Trust for Excess Interests. Upon any purported Transfer that results in Excess Interests pursuant to Section 5.1(f)(ii), such Excess Interests shall be deemed to have been transferred to the Excess Interests Trustee, as trustee of the Excess Interests Trust for the exclusive benefit of the Charitable Beneficiary. Excess Interests so held in trust shall be issued and outstanding Partnership Interests. The Purported Record Transferee shall have no rights in such Excess Interests except as provided in Section 5.1(f)(ix).
Appears in 3 contracts
Samples: Asset Management Agreement (CatchMark Timber Trust, Inc.), Asset Management Agreement (CatchMark Timber Trust, Inc.), Asset Management Agreement (CatchMark Timber Trust, Inc.)
Trust for Excess Interests. Upon any purported Transfer that results in Excess Interests pursuant to Section 5.1(f)(ii)9.3, such Excess Interests shall be deemed to have been transferred to the Excess Interests Interest Trustee, as trustee of the Excess Interests Interest Trust for the exclusive benefit of the Charitable Beneficiary. Excess Interests so held in trust shall be issued and outstanding Partnership InterestsInterests of the Venture. The Purported Record Beneficial Transferee shall have no rights in such Excess Interests except as provided in Section 5.1(f)(ix)9.17.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Behringer Harvard Multifamily Reit I Inc), Limited Liability Company Agreement (Behringer Harvard Multifamily Reit I Inc)
