Unit Holders Agreement

Unit Holders Agreement

 

A Unit holders Agreement is a contract between the unit holders of a Unit Trust. Unit holders Agreements govern the relationship between Unit Holders in a Unit Trust. A Unit holders Agreement covers the rights, responsibilities, obligations and liabilities of Unit holders.

A Unit holders Agreement also protects the interests of Unit holders regarding their investment in the Unit Trust. It covers matters that not covered by the Unit Trust Deed itself or the trustee company’s constitution.

The Unit holders Agreement operates in addition to the Unit Trust Deed, without changing the Deed itself. This agreement agreement includes among other things, terms on which a person can leave (or be required to leave) the Unit Trust scheme, decision making, management of the Unit Trusts’s business, meetings and voting rights, distribution of profits, contributions of capital, sharing of expenses and resolution of disputes.

• CONTENTS include:-
• 1          Definitions & Interpretation
• 2          Unit holding structure
• 3          Management of the company
• 4          Unit holders’ covenants
• 5          Matters requiring a special resolution of unit holders
• 6          Execution of documents
• 7          Dividends
• 8          Accounts
• 9          Encumbering Units
• 10        Insurance
• 11        Drag along and tag along     options
• 12       Mediation
• 13       Non-competition
• 14       Conflicts of interest
• 15       Confidentiality
• 16       Mutual covenants
• 17       Exclusion of implied relationships
• 18       Term of agreement
• 19       Continuing rights
• 20       Notice
• 21       General provisions

This Unit Holders Agreement contains 14 pages

 

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 Includes GST