Millennium Custodial Trust Interests definition
Examples of Millennium Custodial Trust Interests in a sentence
Upon the dissolution of the Trust, and after paying or making reasonable provision for payment of all liabilities of the Trust in accordance with applicable law, the Trustee shall, as expeditiously as is consistent with the conservation and preservation of the Millennium Trust Assets, distribute any remaining assets in the Trust to the Beneficiaries pro rata in accordance with their Millennium Custodial Trust Interests.
In the event of a vacancy on the Trust Advisory Board, either by resignation, removal, death or disability, the Beneficiaries holding a majority of the Millennium Custodial Trust Interests shall promptly select a replacement member of the Trust Advisory Board.
In particular, Visitor Analytics shall implement technical and organizational measures to provide the on-going confidentiality, integrity, availability and resilience of processing systems and services.
The Millennium Custodial Trust Interests will be uncertificated, and distributions of Millennium Custodial Trust Interests will be accomplished solely by the entry of the name of each Beneficiary and its respective Millennium Custodial Trust Interests in the books and records of the Trust.
The Trust’s items of income, gain, loss, deduction or credit shall be allocated to the Beneficiaries in accordance with their relative Millennium Custodial Trust Interests.
To the fullest extent permitted by law, the Millennium Custodial Trust Interests shall not be transferable except by operation of law.
On or as of the Effective Date, the Trust shall issue Millennium Custodial Trust Interests to each Beneficiary in accordance with the right of such Beneficiary to distributions from the Millennium Trust Assets in the amount accorded to such Beneficiary under the Plan.
The Millennium Custodial Trust Interests shall not be certificated and, subject to applicable law, shall not be transferable.
To the extent the Millennium Custodial Trust Interests are deemed to be “securities,” the issuance of Millennium Custodial Trust Interests under the Plan are exempt, pursuant to section 1145 of the Bankruptcy Code, from registration under the Securities Act of 1933, as amended, and any applicable state and local laws requiring registration of securities.
The holders of Allowed Claims against MCI shall receive the Millennium Custodial Trust Interests, which shall entitle each such holder to its Pro Rata Share of recoveries with respect to the Millennium Trust Assets, including any recovery by MCI from its direct and indirect ownership of the MCI Subsidiaries.