Common use of Binding Effect of Trustees’ Determinations Clause in Contracts

Binding Effect of Trustees’ Determinations. The exercise or non-exercise of any discretionary power granted hereunder to the Trustees and all actions taken by them with respect to making distributions hereunder shall be final and binding upon all persons except to the extent that the exercise of such discretion would limit the state’s ability under statute and regulation to protect its remainder interest.

Binding Effect of Trustees’ Determinations. The exercise or non-exercise of any discretionary power granted hereunder to the Trustees and all actions taken by them with respect to making distributions hereunder shall be final and binding upon all persons except to the extent that the exercise of such discretion would limit the state’s ability under statute and regulation to protect its remainder interestpersons.