Common use of Administration and Operating Expenses Clause in Contracts

Administration and Operating Expenses. General administration, and any other expenses of the Trust in a fiscal year which are currently deductible for income tax purposes in calculating Income of the Trust for the year shall be paid out of receipts included in the calculation of the Income of the Trust. Any other such expenses of the Trust for the year which are not deductible in calculating Income of the Trust shall be charged to the capital of the Community Development Account, and after 2022, to the capital of the Heritage Capital Account, if necessary.

Administration and Operating Expenses. General administration, and any other expenses of the Trust in a fiscal year which are currently deductible for income tax purposes in calculating Income of the Trust for the year shall be paid out of receipts included in the calculation of the constituting Income of the Trust. Any other such expenses of the Trust for the year which are not currently deductible in calculating Income of the Trust shall be charged to the capital of the Community Development Account, and after 2022, to the capital of the Heritage Capital Account, if necessary.