Residual Interest and Transfer of Interests Clause Samples
The "Residual Interest and Transfer of Interests" clause defines how any remaining ownership or financial interest in an asset, entity, or agreement is handled, as well as the rules governing the transfer of such interests to other parties. Typically, this clause outlines who retains rights to residual interests after certain events, such as liquidation or sale, and sets conditions or restrictions on transferring those interests, such as requiring consent from other stakeholders or meeting specific criteria. Its core function is to provide clarity and structure regarding the disposition and transferability of interests, thereby preventing disputes and ensuring all parties understand their rights and obligations.
Residual Interest and Transfer of Interests. 6 Section 3.1. The Residual Interest. 6
Residual Interest and Transfer of Interests. 6 Section 3.1. The Residual Interest 6 Section 3.2. Registration of Residual Interests; Transfer of the Residual Interest 7 Section 3.3. Capital Accounts 8 Section 3.4. Maintenance of Office or Agency 9 Section 3.5. Distributions to the Holder of the Residual Interest 9 ARTICLE IV APPLICATION OF TRUST FUNDS; CERTAIN DUTIES 9 Section 4.1. Application of Trust Funds 9 Section 4.2. Method of Payment 10
Residual Interest and Transfer of Interests