DISPOSITION OF INCOME AND PRINCIPAL Sample Clauses

DISPOSITION OF INCOME AND PRINCIPAL. A. During the lifetime of the Beneficiary, the income must be distributed in the month received, as provided in Iowa Code 633C.3, for the necessary administrative expenses of the trust up to $10 per month; a personal needs allowance for the Beneficiary kept in a separate account; a minimum monthly maintenance needs allowance for a spouse, if applicable; and the medical needs of the beneficiary as determined by HHS. If any funds remain after the monthly distributions, such funds shall be retained and will accumulate in the trust.
Sample 1
AutoNDA by SimpleDocs
DISPOSITION OF INCOME AND PRINCIPAL. (1) AT THE DIRECTION OF THE TRUSTOR The Trustee shall manage the property of the Trust estate, collect the income, and shall pay from the income of the Trust such amounts and to such persons as the Trustor may from time to time direct. In the absence of direction, the Trustee may accumulate the net income or may disburse any portion of the net income to or for the benefit of the Trustor, . In addition, the Trustee shall pay from the principal of the Trust such amounts and to such persons as said Trustor may direct. In the absence of direction, the Trustee may pay from the principal of this Trust such amounts as may be necessary for the health or maintenance of the standard of living of .
Sample 1
DISPOSITION OF INCOME AND PRINCIPAL. DURING THE LIFETIME OF TRUSTOR During the lifetime of the Trustor, such part or all of the net income or the principal of the trust estate shall be paid to Trustor at such times and in such amounts as Trustor shall in writing direct and in the absence of such direction, the net income shall be paid to Trustor in monthly or other convenient installments, no less frequently than annually; or, shall be delivered to such persons and in such amounts from time to time as the Trustor shall direct in writing signed by Trustor and delivered to Trustee. In the event Trustor shall be incompetent or unable to manage Trustor’s affairs, the Trustee shall pay or apply for the benefit of Trustor such amounts to such persons as in its sole and absolute discretion it deems necessary and proper for the health, support, maintenance, and welfare of Trustor and Trustor’s spouse and children.
Sample 1
DISPOSITION OF INCOME AND PRINCIPAL. UPON DEATH OF TRUSTOR
Sample 1

Related to DISPOSITION OF INCOME AND PRINCIPAL

  • Disposition of Income During the term of this Trust, all income received by the Trust, net of expenses and taxes, shall be accumulated and reinvested.

  • Collection of Income The Custodian shall use reasonable commercial efforts to collect all income and other payments with respect to the Foreign Assets held hereunder to which the Portfolios shall be entitled and shall credit such income, as collected, to the applicable Portfolio. In the event that extraordinary measures are required to collect such income, the Fund and the Custodian shall consult as to such measures and as to the compensation and expenses of the Custodian relating to such measures.

  • TAXATION OF INCOME Article 6

  • Capitalization of Interest The Mortgage Note does not by its terms provide for the capitalization or forbearance of interest.

  • Collection of Income and Other Payments (A) collect and receive for the account of each Portfolio, all income, dividends, distributions, coupons, option premiums, other payments and similar items, included or to be included in the Property, and, in addition, promptly advise each Portfolio of such receipt and credit such income, as collected, to each Portfolio's custodian account;

  • Protection of Investments 1. All investments, whether direct or indirect, made by investors of one Contracting Party shall enjoy a fair and equitable treatment in the territory of the other Contracting Party.

  • Allocations of Income and Loss For each taxable year, each holder of Preferred Units will be allocated a portion of the Net Income and Net Loss of the Partnership equal to the portion of the Net Income and Net Loss of the Partnership that would be allocated to such holder pursuant to Article 6 of the Agreement if such holder held a number of Partnership Common Units equal to (i) the number of Preferred Units held by such holder, multiplied by (ii) 0.5. Upon liquidation, dissolution or winding up of the Partnership, the Partnership shall endeavor to allocate income and gain to the holders of the Preferred Units such that the Capital Accounts related to the Preferred Units are equal to their Liquidation Preference.

  • Consolidated Fixed Charge Coverage Ratio Permit the Consolidated Fixed Charge Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 1.25 to 1.0.

  • Termination of Investment The obligation of the Investor to make an Advance to the Company pursuant to this Agreement shall terminate permanently (including with respect to an Advance Date that has not yet occurred) in the event that (i) there shall occur any stop order or suspension of the effectiveness of the Registration Statement for an aggregate of fifty (50) Trading Days, other than due to the acts of the Investor, during the Commitment Period, and (ii) the Company shall at any time fail materially to comply with the requirements of Article VI and such failure is not cured within thirty (30) days after receipt of written notice from the Investor, provided, however, that this termination provision shall not apply to any period commencing upon the filing of a post-effective amendment to such Registration Statement and ending upon the date on which such post effective amendment is declared effective by the SEC.

  • Subordination of Intercompany Debt Each Credit Party agrees that all intercompany Indebtedness among Credit Parties (the “Intercompany Debt”) is subordinated in right of payment, to the prior payment in full of all Credit Party Obligations. Notwithstanding any provision of this Credit Agreement to the contrary, provided that no Event of Default has occurred and is continuing, Credit Parties may make and receive payments with respect to the Intercompany Debt to the extent otherwise permitted by this Credit Agreement; provided that in the event of and during the continuation of any Event of Default, no payment shall be made by or on behalf of any Credit Party on account of any Intercompany Debt. In the event that any Credit Party receives any payment of any Intercompany Debt at a time when such payment is prohibited by this Section, such payment shall be held by such Credit Party, in trust for the benefit of, and shall be paid forthwith over and delivered, upon written request, to, the Administrative Agent.

Time is Money Join Law Insider Premium to draft better contracts faster.