Excess Unit Trust definition

Excess Unit Trust means the trust created pursuant to the provisions of Section 7.04.
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Excess Unit Trust means the trust created pursuant to Section 6.14.
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Examples of Excess Unit Trust in a sentence

  • Any such dividend paid or distribution paid to the Purported Record Transferee in excess of the amount provided in the preceding sentence prior to the discovery by the Company that the Units with respect to which the dividend or distribution was made had been exchanged for Excess Units shall be repaid by the Purported Record Transferee to the Excess Unit Trust for the benefit of the Charitable Beneficiary.

  • The Purported Record Transferee shall receive the lesser of the price paid by the Purported Record Transferee for the Units or, if the Purported Record Transferee did not give value for the Units, the Market Price of the Units on the day of the event causing the Units to be held in trust, and the price received by the Excess Unit Trust from the sale or other disposition of the Units.

  • The Purported Record Transferee shall receive the lesser of the price paid by the Purported Record Transferee for the Units or, if the Purported Record Transferee did not give value for the Units, the market price of the Units on the day of the event causing the Units to be held in trust, and the price received by the Excess Unit Trust from the sale or other disposition of the Units.

  • Any distributions (whether as dividends, distributions upon liquidation, dissolution or winding up or otherwise) on Excess Units shall be paid to the Excess Unit Trust for the benefit of the Charitable Beneficiary.

  • At the direction of the Company, the Excess Unit Trustee shall transfer the Units held in the Excess Unit Trust to a person whose ownership of the Units shall not violate the restrictions set forth in Section 7.03.

  • Upon the designation of any Units as Excess Units pursuant to Section 10.5(c), such Excess Units shall be deemed to have been transferred immediately before such event to the Excess Unit Trustee, as trustee of the Excess Unit Trust for the exclusive benefit of the Charitable Beneficiary.

  • At the direction of the Company, the Excess Unit Trustee shall transfer the Units held in the Excess Unit Trust to a Person whose ownership of the Units will not violate the Ownership Limit or Existing Holder Limit and for whom such transfer would not be wholly or partially void pursuant to Section 10.5(b).

  • Upon any purported Transfer that results in Excess Units, such Excess Units shall be deemed to have been transferred to the Excess Unit Trustee, as trustee of the Excess Unit Trust for the exclusive benefit of the Charitable Beneficiary.

  • The Class A Preferred Units are subject to the provisions of Article 6 of this Agreement, including, without limitation, the provision for the redemption of units transferred to the Excess Unit Trust.

  • The Purported Record Assignee shall receive the lesser of (x) the price paid by the Purported Record Assignee for the Units or, if the Purported Record Assignee did not give value for the Units, the Fair Market Value of the Units on the day of the event causing the Units to be held in trust, and (y) the price received by the Excess Unit Trust from the sale or other disposition of the Units.

Related to Excess Unit Trust

  • unit trust means any trust established for the purpose, or having the effect, of providing facilities for the participation by persons as beneficiaries under a trust, in profits or income arising from the acquisition, holding, management or disposal of securities or any other property.

  • unit trust scheme means any arrangements made for the purpose, or having the effect, of providing for persons having funds available for investment, facilities for the participation by them, as beneficiaries under a trust, in profits or income arising from the acquisition, holding, management or disposal of any property whatsoever;

  • First trust means a trust over which an authorized fiduciary may exercise the decanting power.

  • Blind Trust means an independently managed trust in which the employee-beneficiary has no management rights and in which the employee-beneficiary is not given notice of alterations in or other dispositions of the property subject to the trust.

  • Electric distribution company (EDC) means any electric utility subject to the jurisdiction of the Commission.

  • Distribution Company means a distribution company as defined in Section 1 of Chapter 164 of the Massachusetts General Laws.3

  • Hybrid electric vehicle (HEV) means a hybrid vehicle where one of the propulsion energy converters is an electric machine.

  • Electric vehicle means a road vehicle that draws propulsion energy only from an on-board source of electrical energy.

  • Class I renewable energy means electric energy produced from

  • co-pilot means a pilot operating other than as pilot-in-command, on an aircraft for which more than one pilot is required, but excluding a pilot who is on board the aircraft for the sole purpose of receiving flight instruction for a licence or rating.

  • Master Trust Trustee means the entity acting as trustee under the applicable Pooling and Servicing Agreement.

  • Excess Energy has the meaning set forth in Section 4.5(a)(i). [For As-Available Product only]

  • Master Trust means Citibank Credit Card Master Trust I.

  • Electric bicycle means a “class 1 electric bicycle”, a “class 2 electric bicycle”, or a “class 3 electric bicycle” as defined in this section. (ORC 4511.01(RRR))

  • Heavy Vehicle has the meaning given to it in the HNVL.

  • Swimming pool or “pool” means any structure intended for swimming or recreational bathing that contains water over 18 inches deep. “Swimming pool” includes in-ground and aboveground structures and includes, but is not limited to, hot tubs, spas, portable spas, and nonportable wading pools.

  • Neighborhood electric vehicle means a self-propelled

  • Plug-in hybrid electric vehicle means a motor vehicle that:

  • Cesspool means an unlined or partially lined underground pit or underground perforated receptacle into which raw household wastewater is discharged and from which the liquid seeps into the surrounding soil. Cesspool does not include a septic tank.

  • Pure electric vehicle (PEV) means a vehicle equipped with a powertrain containing exclusively electric machines as propulsion energy converters and exclusively rechargeable electric energy storage systems as propulsion energy storage systems.

  • T&C means a term, condition, restriction or requirement imposed by a securities regulatory authority or regulator on the registration of a firm or an individual.

  • Class II renewable energy means electric energy produced at a

  • relevant trust means a trust established out of funds provided by the Secretary of State in respect of persons who suffered, or who are suffering, from variant Creutzfeldt-Jakob disease for the benefit of persons eligible for payments in accordance with its provisions;

  • Enterprise Fund means the enterprise fund of the Recipient in which Revenues are deposited.

  • Trust Unit means units in the capital of the Trust;

  • Revenue Fund means the fund so designated in, and created pursuant to, Section 502 hereof.