Examples of Permitted Trust in a sentence
For purposes of this Plan, a "Permitted Trust" means a trust solely for the benefit of the Participant, the Participant's Immediate Family or one or more charitable or other organizations described in Section 501(c)(3) of the Code.
For purposes of this Plan, "Permitted Transferee" means the Participant's Immediate Family, a Permitted Trust or a partnership (or other entity) of which the Participant's Immediate Family constitute substantially all of the partners or members, other than charitable and other organizations described in Section 501(c)(3) of the Code.
Each share of Class B Common Stock shall automatically, without further action by the Corporation or the holder thereof, convert into one (1) fully paid and nonassessable share of Class A Common Stock upon (i) the occurrence of a Transfer, other than a Permitted Transfer, of such share of Class B Common Stock, or (ii) the grant by a Qualified Stockholder of Voting Control to any Person other than a Qualified Person or a trustee of a Permitted Trust.
Save as provided in these Regulations, the trust deed of an Units not ESOP Unit Trust shall not permit the exchange of units of an ESOP Unit Permitted Trust with shares of the listed company.
The term "Change of Control" shall mean (i) in the case of a corporation, partnership or limited liability company, such time as any such corporation, partnership or limited liability company shall cease to be a Controlled Entity;(ii) in the case of a trust, such time as such trust shall cease to be a Permitted Trust; or(iii) in the case of a charitable organization, such time as such charitable organization shall cease to be a Permitted Charitable Foundation.