Common use of DECLARATION AND PAYMENT Clause in Contracts

DECLARATION AND PAYMENT. The Trustees shall declare dividends, payable from the assets of the Trust, in money or otherwise, at such times, in such amounts and from such sources, whether income, surplus, capital, or any combination thereof, as they, in their discretion may determine, and cause the same to be distributed to the shareholders in amounts proportionate to the number of shares held by each Shareholder. The Trustees may fix a record date for the determination of holders of Common Shares entitled to receive payment of a dividend or a distribution declared thereon, which record date shall be not more than 30 days prior to the date fixed for the payment thereof.