Common use of Record Date for Distributions Clause in Contracts

Record Date for Distributions. The Trustees may, if they deem it advisable, fix a date not exceeding twenty (20) days preceding any date for the payment or distribution of dividends or for the distribution of assets or rights as a record date for the determination of the Voting Trust Certificate Holders entitled to receive the payment or distribution, and the Voting Trust Certificate Holders of record on that date shall be exclusively entitled to participate in the payments or distributions. If the Trustees fail to fix a record date, the date of payment or distribution of dividends or the distribution of assets or rights shall constitute the record date for the determination of the Voting Trust Certificate Holders entitled to receive the payment or distribution.

Record Date for Distributions. The Trustees Trustee may, if they deem he deems it advisable, fix a date not exceeding twenty ten (2010) days preceding any date for the payment or distribution of dividends dividends, or for the distribution of assets or rights rights, as a record date for the determination of the Voting Trust Certificate Holders entitled to receive the payment or distribution, and the Voting Trust Certificate Holders of record on that date shall be exclusively entitled to participate in the payments payment or distributionsdistribution. If the Trustees fail Trustee fails to fix a record date, the date three (3) days prior to the date of payment or distribution of dividends or the distribution of assets or rights shall constitute the record date for the determination of the Voting Trust Certificate Holders entitled to receive the payment or distribution.