Common use of Issuance of Trust Certificates Clause in Contracts

Issuance of Trust Certificates. In exchange for the stock certificates evidencing the Deposited Shares, the Trustee shall issue and deliver to each Beneficiary Stockholder having a beneficial interest therein, one or more Trust Certificates (each a “Trust Certificate”) substantially in the form attached hereto as Appendix B, representing, in the aggregate, the number of Deposited Shares beneficially owned by that Beneficiary Stockholder. Trust Certificates shall evidence the Beneficiary Stockholder’s beneficial interest in the Trust and the Deposited Shares. The holder of a Trust Certificate shall have all rights of a holder of the Deposited Shares represented by the Trust Certificate except as otherwise provided herein.

Appears in 1 contract

Sources: Stock Restriction and Management Agreement (Gateway Trade Center Inc.)

Issuance of Trust Certificates. In exchange for the stock certificates ------------------------------- evidencing the Deposited SharesShares delivered by each Stockholder hereunder, the Trustee Trustees shall issue and deliver to each Beneficiary Stockholder having a beneficial interest therein, one or more Trust Certificates certificate (each a “the "Trust Certificate") or certificates, substantially in the form attached hereto as Appendix Exhibit B, representing, in the aggregate, the number of Deposited Shares beneficially owned deposited by that Beneficiary Stockholder. Trust Certificates shall evidence the Beneficiary Stockholder’s 's beneficial interest in the Trust and the Deposited SharesShares deposited with the Trustees in accordance herewith. The holder of a Trust Certificate shall have all rights of a holder of the Deposited Shares represented by the Trust Certificate except as otherwise provided herein.

Appears in 1 contract

Sources: Voting Trust Agreement (Vlasic Foods International Inc)