Transfer of or Change in Interests. The Trustees are authorized to adopt any convention or combination of conventions that they believe are reasonable for federal income tax purposes regarding the allocation and/or special allocation of items of Trust income, gain, loss, deduction and expense with respect to a newly issued Unit, a transferred Unit or a redeemed Unit. A transferee of a Unit of the Trust shall succeed to the Capital Account of the transferor Unitholder to the extent it relates to the transferred Units of the Trust. Neither the Trust nor the Trustees shall be required to provide any information to a transferee Unitholder in connection with an election by such transferee Unitholder under Code Section 732(d).
Appears in 3 contracts
Sources: Agreement and Declaration of Trust (Cushing MLP Infrastructure Fund II), Agreement and Declaration of Trust (Cushing MLP Infrastructure Master Fund), Agreement and Declaration of Trust (Cushing MLP Infrastructure Fund)