HomeMy WebLinkAbout1245 !
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ir.cipsl; but the Trustees are autnorized~ in tY:elr absolute ;
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discrat:~on to allocate the svhole or any ~art of :,uch dividend . t
~r ri~ht or ~hares of sLock to income 1~ in their opinion such i
dividend or right or shares of atock 9hould be considered ae ~
a distribution o~ current earning9 by the cor~oration declaring
or issuing or ~aying the same.
(o) The proceed9 Yrom the sale, retention or
other diepo~ition, whether at a proYit or loss, ot ~.ny property
constituting principal, including mortgages and real eatate~ ~
no r..atter how acquired, shall normally be dea~t with a9 (
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:rincipal, even 1~ tho property shall have pro3~aced ~o income; ~
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but the Trustees are autnori~ed in thQir 3bsolute .:iacretion to ~
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a~locate the whole or any part oY ar~y 9uch proceeds ~o inco~a i
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i~ tne property diaposed o~ produced no income or in tneir '
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opinion substantially les9 than the current rate of return on !
~rust investments. ~
(d) There shall be no apportion~ent o~ accrued
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inco~e to any bQneYiciary un3er thia lndenture ~7hose interest ~
~ ~herein shall terminate by death or otherwise ~rior to the time `
; ~::.e:~ the 9a.me is due and payable to the Trustees; ~;e tivhole ot ~
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i :;ac'r. incone snall, a~ter the deduction there~ro:: a:~y ezpen~es!
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~ chargeable tnereto, be ~aid ~o the next i:eone oer:c~iciary, 1~ {
~ a~;~, of the fund which produced such income, o. i~ ~:ere ~hall ~
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~ ~L no such income beneticiary, then to tne ~er~o. or persons ~
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~ enti ~led to the princi~,al o~ the ~und which .~ro3uced 9uch i~cor~e:
~ (19) lo nake such provision, i~ Gny, ds t:e,-; sha12
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~ deeW acivisable Por the amortization out oY inccWe c~ any rre~itz~,-
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~ : aid on the : urcnaae or other acqui~ition o~ ~.:.y ~ect:rit;~; to
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~ wafe such : rovigion, i~ s~y, as they sha.ll dee ~~:3v~ =sub~e ~ut i
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c~ ~ncc~e by way oY a re~erve or ot~.er.vi9e tor ~he c::.~:~reciation, !
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ooso~escenca or deterioration of any real or ~er3on~i ~rc_erty
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