Common use of Payment of Liabilities of Trust Clause in Contracts

Payment of Liabilities of Trust. The Trustees are authorized to, and shall use all money received by it for the payment of all liabilities of the Trust, including, but not limited to, all expenses, taxes and liabilities incurred of all kinds, and reimbursement to them of all expenses pursuant to Section 7.04 and 7.05 hereof.

Appears in 6 contracts

Samples: Trust Agreement (Clayton Williams Energy Inc /De), Trust Agreement (Clayton Williams Energy Inc /De), Louisiana (Clayton Williams Energy Inc /De)

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Payment of Liabilities of Trust. The Trustees are Trustee is authorized to, to and shall use first apply all money received by it (other than amounts contributed under Section 2.04 hereof with respect to any cash reserve) for the payment of all liabilities of the Trust, including, including but not limited to, to all expenses, taxes and liabilities incurred of all kinds, compensation to it for its services and reimbursement to them of all its expenses pursuant to Sections 7.03 and 7.04 hereof and compensation to such parties as may be consulted pursuant to Section 7.04 and 7.05 hereof.

Appears in 1 contract

Samples: Prudhoe Bay Royalty Trust Agreement (Bp Prudhoe Bay Royalty Trust)

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Payment of Liabilities of Trust. The Trustees are Trustee is authorized to, to and shall use all money received by it for the payment of all liabilities of the Trust, including, including but not limited to, to all expenses, taxes taxes, and liabilities incurred of all kinds, and reimbursement compensation to them of all expenses it for its services pursuant to Section 7.04 8.4 and 7.05 8.5 hereof, and compensation to such parties as may be consisted pursuant to Section 8.6 hereof.

Appears in 1 contract

Samples: Employee Royalty Trust Agreement (Gasco Energy Inc)

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