Trust Units and Uncertificated Beneficial Interest. Section 4.01 Creation and Distribution. Ownership of the entire Beneficial Interest shall be divided into 12,165,732 Trust Units. The Trust Units shall be uncertificated and ownership thereof shall be evidenced by entry of a notation in an ownership ledger maintained for such purpose by the Trustee or a transfer agent designated by the Trustee. The Trust Unitholders from time to time shall be the sole beneficial owners of the Trust Estate.
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Samples: Trust Agreement (PermRock Royalty Trust), Trust Agreement
Trust Units and Uncertificated Beneficial Interest. Section 4.01 Creation and Distribution. Ownership of the entire Beneficial Interest shall be divided into 12,165,732 38,583,158 Trust Units. The Trust Units shall be uncertificated and ownership thereof shall be evidenced by entry of a notation in an ownership ledger maintained for such purpose by the Trustee or a transfer agent designated by the Trustee. The Trust Unitholders from time to time shall be the sole beneficial owners of the Trust Estate.
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Trust Units and Uncertificated Beneficial Interest. Section 4.01 Creation and Distribution. Ownership of the entire Beneficial Interest shall be divided into 12,165,732 11,500,000 Trust Units. The Trust Units shall be uncertificated and ownership thereof shall be evidenced by entry of a notation in an ownership ledger maintained for such purpose by the Trustee or a transfer agent designated by the Trustee. The holders of the Trust Unitholders Units from time to time shall be the sole beneficial owners beneficiaries of principal and interest of the Trust EstateTrust.
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Samples: Trust Agreement (MV Oil Trust)
Trust Units and Uncertificated Beneficial Interest. Section 4.01 Creation and Distribution. Ownership of the entire Beneficial Interest shall be divided into 12,165,732 7,750,000 Trust Units. The ownership of the Trust Units shall be uncertificated and ownership thereof shall be evidenced by entry of a notation in an ownership ledger maintained for such purpose by the Trustee or a transfer agent designated by the Trustee. The holders of the Trust Unitholders Units from time to time shall be the sole beneficial owners beneficiaries of principal and interest of the Trust EstateTrust.
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