H&R REAL ESTATE INVESTMENT TRUST  H&R FINANCE TRUST  Notes to Combined Financial Statements   (In thousands of dollars, except unit and per unit amounts)  Years ended December 31, 2010 and 2009  The units of the REIT are stapled with the units of Finance Trust effective October 1, 2008. These Stapled Units are  listed and posted for trading on the TSX. The Trusts have entered into a support agreement ("Support Agreement") to  coordinate the issuance of Stapled Units under various arrangements (note 11(c)).  The units of the Trusts are freely transferable and, other than as disclosed herein, the trustees of the Trusts shall not  impose any restriction on the transfer of units. Provided that an event of uncoupling ("Event of Uncoupling") has not  occurred: (a) each REIT unit may be transferred only together with a unit of Finance Trust; (b) no unit may be issued by  the REIT to any person unless: (i) a unit of Finance Trust is simultaneously issued to such person, or (ii) the REIT has  arranged that units will be consolidated (subject to any applicable regulatory approval) immediately after such issuance,  such that each holder of a REIT unit will hold an equal number of Finance Trust units and units of the REIT immediately  following such consolidation; and (c) a unitholder may require the REIT to redeem any particular number of units only if it  also requires, at the same time, and in accordance with the provisions of the Finance Trust Declaration of Trust, Finance  Trust to redeem that same number of units of Finance Trust. Equivalent provisions apply with respect to the transfer,  issuance, consolidation and redemption of Finance Trust units.  An Event of Uncoupling shall occur only: (a) in the event that unitholders of the REIT vote in favour of the uncoupling of  units of the Trusts such that the two securities will trade separately; or (b) at the sole discretion of the trustees of Finance  Trust, but only in the event of the bankruptcy, insolvency, winding-up or reorganization (under an applicable law relating  to insolvency) of the REIT or U.S. Holdco or the taking of corporate action by the REIT or U.S. Holdco in furtherance of  any such action or the admitting in writing by the REIT or U.S. Holdco of its inability to pay its debts generally as they  become due. The trustees of the Trusts shall use all reasonable efforts to obtain and maintain a listing for the units of  their respective Trusts and, unless an Event of Uncoupling has occurred, the Stapled Units, on one or more stock  exchanges in Canada.  The unitholders have the right to require the Trusts to redeem their units on demand. Provided that no Event of  Uncoupling has occurred, unitholders who tender their units of one of the Trusts for redemption will also be required to  tender for redemption corresponding units of the other Trust in accordance with the provisions of the respective  Declarations of Trust. Upon the tender of their units for redemption, all of the unitholder's rights to and under such units  are surrendered and the unitholder is entitled to receive a price per unit as determined by the applicable Declaration of  Trust.  Upon valid tender for redemption of each unit of the REIT, the unitholder is entitled to receive a price per unit of the REIT  as determined by a formula based on the market price of Stapled Units less an amount based on the principal amount of  U.S. Holdco Notes per outstanding unit of Finance Trust. The redemption price payable by the REIT will be satisfied by  way of a cash payment to the unitholder or, in certain circumstances, including where such payment would cause the  REIT's monthly cash redemption obligations to exceed $50 (subject to adjustment in certain circumstances or waiver by  the trustees), an in specie distribution of notes of H&R Portfolio LP Trust (a subsidiary of the REIT).  22  11.  Unitholders’ equity (continued): 