Applicable multi-beneficiary trust .—
For purposes of this subparagraph, the term “applicable multi-beneficiary trust” means a trust—
(I)#
which has more than one beneficiary,
(II)#
all of the beneficiaries of which are treated as designated beneficiaries for purposes of determining the distribution period pursuant to this paragraph, and
(III)#
at least one of the beneficiaries of which is an eligible designated beneficiary described in subclause (III) or (IV) of subparagraph (E)(ii).