Voting of Excess Units. The Excess Units Trustee shall be entitled to vote the Excess Units for the benefit of the Charitable Beneficiary on any matter. Subject to Delaware law, any vote taken by a Purported Record Transferee prior to the discovery by Company that the Excess Units were held in trust shall be rescinded ab initio. The owner of the Excess Units shall be deemed to have given an irrevocable proxy to the Excess Units Trustee to vote the Excess Units for the benefit of the Charitable Beneficiary.
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.)
Voting of Excess Units. The Excess Units Unit Trustee shall be entitled to vote the Excess Units for the benefit of the Charitable Beneficiary on any matter. Subject to Delaware law, any vote taken by a Purported Record Transferee prior to the discovery by Company the REIT that the Excess Units were held in trust shall be rescinded ab initio. The owner of the Excess Units shall be deemed to have given an irrevocable proxy to the Excess Units Unit Trustee to vote the Excess Units for the benefit of the Charitable Beneficiary.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Behringer Harvard Multifamily Reit I Inc)
Voting of Excess Units. The Excess Units Unit Trustee shall be entitled to vote the Excess Units for the benefit of the Charitable Beneficiary on any matter. Subject to Delaware law, any vote taken by a Purported Record Transferee prior to the discovery by the Company that the Excess Units were held in trust shall be rescinded ab initio. The owner of the Excess Units shall be deemed to have given an irrevocable proxy to the Excess Units Unit Trustee to vote the Excess Units for the benefit of the Charitable Beneficiary.
Appears in 1 contract
Samples: Limited Partnership Agreement (Inland Real Estate Corp)
