Common use of Costs, Expenses and Compensation of Trustee and the Company Clause in Contracts

Costs, Expenses and Compensation of Trustee and the Company. The Trustee shall be indemnified by the Company or from the proceeds from the sale of Units held in the Trust for its costs and expenses reasonably incurred in connection with conducting its duties and satisfying its obligations pursuant to this Section 11.8. The Trustee shall be entitled to receive reasonable compensation for services provided by the Trustee in connection with serving as a Trustee, the amount and form of which shall be determined by agreement of the Manager and the Trustee. Costs, expenses and compensation payable to the Trustee pursuant to this Section 11.8 may be funded from the Trust or by the Company. The Company shall be entitled to reimbursement on a first priority basis (after payment in full of amounts payable to the Trustee pursuant to this Section 11.8) from the Trust for any such amounts funded by the Company. Costs and expenses incurred by the Company in the process of enforcing the ownership limitations set forth in Section 11.7 hereof, in addition to reimbursement of costs, expenses and compensation of the Trustee which have been funded by the Company, may be collected from the Trust.

Appears in 5 contracts

Samples: Operating Agreement (Cardone Equal Opportunity Fund 2, LLC), Operating Agreement (Cardone Equal Opportunity Fund 2, LLC), Operating Agreement

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