Unit Registry Clause Samples
The Unit Registry clause establishes the requirement for maintaining an official record of all units issued, transferred, or redeemed within a managed investment scheme or similar entity. This registry typically includes details such as the names of unit holders, the number of units held, and any changes in ownership. By centralizing and formalizing this information, the clause ensures accurate tracking of ownership interests and facilitates the administration of distributions, voting rights, and compliance with regulatory obligations.
Unit Registry. At the Effective Time, the list of holders of Units of the Fund shall be closed and thereafter there shall be no further registration of transfers of Units theretofore outstanding on the records of the Fund. From and after the Effective Time, the Holders of Units outstanding immediately prior to the Effective Time shall cease to have any rights with respect to such Units except as otherwise provided in this Agreement or the Bylaws. On or after the Effective Time, any Units transferred to the Custodian or the Surviving Corporation for any reason shall solely represent the right to receive the Conversion Consideration payable in respect of such Units and any dividends or other distributions to which the Holders thereof are entitled pursuant to Section 2.2(c), in each case, without any interest thereon.