Common use of Determination of Distributable Income Clause in Contracts

Determination of Distributable Income. (a) The Trustee may determine the Distributable Income for each Distribution Period by way of a standing determination of principles for calculating the Distributable Income, the application of which is capable of independent verification, and may change the principles from time to time. (b) Unless the Trustee determines otherwise or the Unit Holders Deed provides otherwise, the Distributable Income of the Trust for a Distribution Period is equal to the amount of the Net Income of the Trust for that Distribution Period, calculated as if that Distribution Period was a Financial Year. (c) For the avoidance of doubt, the preparation of the financial statements in accordance with the Accounting Standards of itself is not to be regarded as a determination of the method for calculating the Distributable Income of the Trust pursuant to this clause 12.2.