Common use of Payment of Expenses of Administration Clause in Contracts

Payment of Expenses of Administration. To pay, from the Trust assets, all ordinary and necessary expenses and other incidental costs incurred in connection with the Trust or in the discharge of the Trustee’s fiduciary obligations under this Agreement including, but not limited to, Committee member(s) fees and expenses, the fees and/or compensation of any professional advisors, legal counsel or administrative support hired by the Committee as provided in Section 3.04, expenses and insurance policy premiums as provided in Section 3.06 and the costs and expenses of any audit of the Trust; provided that to the extent the foregoing amounts exceed $500,000 in the aggregate in any twelve month period, CPUC Approval shall be required.

Payment of Expenses of Administration. To pay, from the Trust assets, all ordinary and necessary expenses and other incidental costs incurred in connection with the Trust or in the discharge of the Trustee’s fiduciary obligations under this Agreement including, but not limited to, Investment Manager(s) fees and Committee member(s) fees and expenses, the fees and/or compensation of any professional advisors, legal counsel or administrative support hired by the Committee as provided in Section 3.04, expenses and insurance policy premiums as provided in Section 3.06 and the costs and expenses of any audit of the Trust; provided that to the extent the foregoing amounts exceed $500,000 in the aggregate in any twelve month period, CPUC Approval shall be required.