Examples of Purported Beneficial Owner in a sentence
Specifically, the REIT, as soon as practicable after the date it discovers that a transaction in violation of the Transfer Restrictions has occurred, will inform the Purported Record Owner and, to the extent it is aware of its identity, the Purported Beneficial Owner, of their obligations pursuant to the Charter, including the obligation to surrender to the Trustee of the Trust any Trust Shares and any and all dividends or other distributions received with respect to Trust Shares.
For purposes of this paragraph 21, the terms "Purported Record Owner," "Purported Beneficial Owner," "Trustee," "Trust" and "Trust Shares" shall have the meanings ascribed to such terms in the Charter.
The Purported Beneficial Owner and Purported Record Owner shall not benefit economically from ownership of any Equity Shares held in trust by the Trust, shall have no rights to dividends or other distributions and shall not possess any rights to vote or other rights attributable to the Equity Shares held in the Trust.
The Trustee shall be appointed by the Corporation, and shall be a Person unaffiliated with the Corporation, any Purported Beneficial Owner or any Purported Record Owner.
Any dividend or distribution with respect to such Equity Shares paid to a Purported Beneficial Owner or Purported Record Owner prior to the discovery by the Corporation that the Equity Shares have been transferred to the Trustee shall be deemed to be held by the recipient thereof as agent for the Trustee, and shall be paid to the Trustee upon demand, and any dividend or distribution declared after the date of transfer to the Trustee but unpaid shall be paid when due to the Trustee.
The Purported Beneficial Owner and Purported Record Owner shall have no rights in the Equity Shares held by the Trustee.
The Purported Record Owner and the Purported Beneficial Owner shall surrender to the Trustee any and all certificates representing Equity Shares that have been transferred to the Trust, duly endorsed for transfer to the Trustee.
The Purported Beneficial Owner and the Purported Record Owner of shares of Stock in violation of this Section 7.1 shall have no claim, cause of action, or any other recourse whatsoever against the purported transferor of such shares.
The Purported Beneficial Owner and Purported Record Owner shall have no rights in the shares held by the Trustee.
The Purported Beneficial Owner or Purported Record Owner shall not benefit economically from ownership of any shares held in trust by the Trustee, shall have no rights to dividends and shall not possess any rights to vote or other rights attributable to the shares held in the Trust.