Except as otherwise expressly provided in the Third Amended and Restated Declaration of Trust dated June 17, 2022 (the "Declaration of Trust"), each Preferred Unit shall have the right to receive notice of and to attend any meetings of Trust's unitholders and to one vote for each Preferred Unit held. Holders of Preferred Units will also have the right to a proportionate share, in preference to the Class A Trust Units of the Trust (each, a "Unit"), of (i) all allocations (including allocations of income of the Trust), (ii) all advances or distributions of cash or other property (including amounts out of the income of the Trust or other amounts) and any other advances or distributions of a similar nature made in accordance with the Declaration of Trust; and (iii) the share of the Preferred Units in the remaining Trust assets on dissolution in accordance with the terms of the Declaration of Trust. Each Preferred Unit shall be convertible into one Unit at no additional cost, on the earlier of: (a) five (5) business days following the holder of such Preferred Units providing notice to the Trust of its intent to convert its Preferred Units; (b) the closing by the Trust of any merger, acquisition, plan of arrangement, restructuring, reverse take-over or other similar transaction involving the Trust; (c) at the option of the trustees of the Trust; and (d) April 30, 2027. The terms and conditions of the Preferred Units have been filed ...
