Common use of Dividend Income Clause in Contracts

Dividend Income. Within the five (5) Business Days following each Dividend Date, the Trustee shall distribute to the Beneficiaries the Dividend Income received by the Trust, plus any Investment Income earned thereon, in the following order of priority: (i) One percent (1%) to the LURC by deposit as provided in Section 3.02(b)(ii), and (ii) The remaining Dividend Income, reduced by any Trust Expenses, to ELL.

Appears in 2 contracts

Sources: Trust Agreement (Entergy Louisiana, LLC), Trust Agreement (Entergy Louisiana, LLC)