Common use of Nature of Trust Units Clause in Contracts

Nature of Trust Units. Each Trust Unit represents an equal undivided beneficial interest in the Trust. The Trust Units do not represent debt instruments and there is no principal amount owing to Trust Unitholders under the Trust Units, and the Trust Units are not insured against loss through the Canadian Deposit Insurance Corporation.

Appears in 2 contracts

Sources: Offering Memorandum, Offering Memorandum