Trust for Excess Units. Upon any purported Transfer that results in Excess Units pursuant to Section 5.2(b), such Excess Units shall be deemed to have been transferred to the Excess Units Trustee, as trustee of the Excess Units Trust for the exclusive benefit of the Charitable Beneficiary. Excess Units so held in trust shall be issued and outstanding Interests of Company. The Purported Record Transferee shall have no rights in such Excess Units except as provided in Section 5.2(j).
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 Units. Upon any purported Transfer that results in Excess Units pursuant to Section 5.2(b)6.3, such Excess Units shall be deemed to have been transferred to the Excess Units Unit Trustee, as trustee of the Excess Units Unit Trust for the exclusive benefit of the Charitable Beneficiary. Excess Units so held in trust shall be issued and outstanding Interests Units of Companythe REIT. The Purported Record Beneficial Transferee shall have no rights in such Excess Units except as provided in Section 5.2(j)6.17.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Behringer Harvard Multifamily Reit I Inc)
Trust for Excess Units. Upon any purported Transfer that results in Excess Units pursuant to Section 5.2(b)6.3, such Excess Units shall be deemed to have been transferred to the Excess Units Unit Trustee, as trustee of the Excess Units Unit Trust for the exclusive benefit of the Charitable Beneficiary. Excess Units so held in trust shall be issued and outstanding Interests of Company. The Purported Record Transferee shall have no rights in such Excess Units except as provided in Section 5.2(j).the
Appears in 1 contract
Samples: Limited Partnership Agreement (Inland Real Estate Corp)
