Income and Principal. Custodian or its designated Sub-Agents are authorized, as Principal's agent, to surrender against payment maturing obligations and obligations called for redemption, and to collect and receive payments of interest and principal, dividends, warrants, and other things of value in connection with Securities. Absent written instructions from Principal or Manager, funds will remain in the currency of collection upon receipt of payment.
Income and Principal. The Trustee shall not be required to keep separate accounts or records for income and principal. However, if the Trustee does keep such separate accounts or records, then the Trustee is authorized to treat all or any part of the receipts from the Net Profits Interest as income or principal, without having to maintain any reserve therefor, and in general to determine all questions as between income and principal and to credit or charge to income or principal or to apportion between them any receipt or gain and any charge, disbursement or loss as is deemed advisable under the circumstances of each case.
Income and Principal. The Trustees may, but shall not be required to, keep separate accounts or records for income and principal. To the extent that such separate accounts or records are kept, the Trustees may allocate the receipts, disbursements and reserves of the Trust between income or principal in the discretion of the Trustees, and the Trustees’ discretion need not accord with the provisions of any requirement of applicable law which may be lawfully negated by this Trust Agreement. Regardless of any such characterization, however, the Trustees shall not make any distribution, accumulate any funds, or maintain any reserve except as expressly provided in this Trust Agreement. The Trustees shall not maintain a reserve for depletion of the assets represented in the Trust Estate.
Income and Principal. Unless notified of the event of a default of the Depository as provided for herein, all normal income and principal distributions shall be paid to the Depository.
Income and Principal. The Trustee shall not be required to keep separate accounts or records for income and principal or maintain any reserves for depletion of the Royalties. However, if the Trustee does keep such separate accounts or records, then the Trustee is authorized to treat all or any part of the receipts from the Royalties as income or principal, and in general to determine all questions as between income and principal and to credit or charge to income or principal or to apportion between them any receipt or gain and any charge, disbursement or loss as is deemed advisable under the circumstances of each case. Regardless of any such characterization, however, the Trustee shall not make any distribution, accumulate any funds, or maintain any reserve except as expressly provided in this Indenture.
Income and Principal. Income on securities and Funds held by you hereunder will be credited automatically to our checking account upon notification that such income has become due and payable. Principal received in connection with securities which mature or are redeemed shall be credited to our checking account on the date such principal is received. Unless instructed otherwise, collections of income in foreign currency are to be converted into United States dollars and in effecting such conversion you may use such methods or agencies as you may see fit including your own facilities at prevailing rates. All risk and expense incident to such collection and conversion is for the account of the undersigned, and you shall have no responsibility for fluctuations in exchange rates affecting such conversion. You shall also acquire and hold hereunder all stock dividends, rights and similar securities issued with respect to any securities held by you hereunder. With respect to any dividend reinvestment plan in which CREF participates, and as to which you have been so notified, you agree to acquire and hold hereunder the appropriate number of shares issuable under such plan in lieu of the cash dividend. With respect to stock dividends, you are hereby authorized to sell any fractional interest and to credit our checking account with the proceeds thereof.
Income and Principal. Custodian is authorized to surrender against payment maturing obligations and obligations called for redemption, and to collect and receive payments of interest and principal, dividends, warrants, and other things of value in connection with Securities. Absent written instructions from Principal or Manager, funds will remain in the currency of collection upon receipt of payment.
Income and Principal a. Income on securities and cash held by Bank hereunder will be credited automatically to a Deposit Account or Custody Account upon receipt and in accordance with local market practices. Principal received in connection with securities which mature or are redeemed shall be credited to a Deposit Account or a Custody Account on the date such principal is received. All collections of income or principal paid or distributed with respect to any securities, Cash or other property shall be made at the risk of the Variable Account, provided however, that Bank takes reasonable steps to collect such income or principal and there is no negligence, misfeasance or misconduct on the part of Bank.
Income and Principal. Trustee shall distribute such amounts from the net income and such amounts from the net income and such amounts from the principal of the trust to Beneficiary as Trustee deems desirable for the Beneficiary's general welfare, health, support, maintenance and education. The Beneficiary shall not have a current right to income, and acknowledges that distributions of income and principal are within the discretion of the Trustee. 2 B.
Income and Principal. During the lifetime of the Surviving Spouse, the Trustees shall pay over or apply to or for the benefit of the Surviving Spouse the net income and principal of the Survivor's Trust to such extent, if any, including the whole thereof, in such amounts and proportions, at such time or times and in such manner or manners, (i) as the Surviving Spouse may demand by an acknowledged, written instrument delivered to the Trustees, or (ii) as the Trustees, in the exercise of sole and absolute discretion, shall determine. Distributions following demand by the Surviving Spouse shall be made at such time or times and in such manner or manners as is set forth in the demand. Any net income not so paid over or applied (which may be the whole of such income) shall be accumulated and added to the principal of the trust and thereafter shall be held, administered and disposed of as a part thereof.
