Common use of Trust Arrangements Clause in Contracts

Trust Arrangements. In furtherance of Section 2.1 and 5.8(c) of the Stock Purchase Agreement, AIMCO has agreed that the Seller shall retain beneficial ownership of all Rights relating to the Shares, and that AIMCO shall hold such Rights in trust for the benefit of the Seller. In furtherance of the foregoing, upon and after receipt of the consideration referred to in Section 2.2(b) of the Stock Purchase Agreement, AIMCO shall become record holder of and obtain legal title to the Shares, and without any additional action by the Seller or AIMCO, the Seller shall remain the beneficial owner of the Rights with all of the rights (including without limitation the right to exercise the Rights) and any obligations of any holders of the Rights. AIMCO agrees to not sell, transfer or otherwise convey in any respect the rights or interests of the Seller relating to the Rights retained by the Seller hereunder (it being understood that a sale of the Shares transfers record ownership of the Rights and shall not be deemed to sell, transfer or otherwise convey in any respect the rights or interests of the Seller relating to the Rights retained by the Seller hereunder and shall not be deemed to violate this Section 2 ).