DISPOSITION OF INCOME AND PRINCIPAL Sample Clauses

DISPOSITION OF INCOME AND PRINCIPAL. A. During the lifetime of the Beneficiary, the income must be distributed in the month received, as provided in Iowa Code 633C.3, for the necessary administrative expenses of the trust up to $10 per month; a personal needs allowance for the Beneficiary kept in a separate account; a minimum monthly maintenance needs allowance for a spouse, if applicable; and the medical needs of the beneficiary as determined by DHS. If any funds remain after the monthly distributions, such funds shall be retained and will accumulate in the trust. B. The trust shall terminate at the death of the Beneficiary, or earlier if the Trustee determines that the existence of the trust is no longer necessary to establish or maintain Medicaid eligibility for the Beneficiary. The Trustee shall give written or electronic notice to the Iowa Department of Human Services (DHS) at the Beneficiary’s death by submitting a Probate Notice or General Non-probate at xxx.xxxx-xxxxxxx.xxx when the trust is terminated. C. Upon any termination of the trust, the remaining trust property shall be distributed to DHS up to the total medical assistance paid on behalf of the Beneficiary. The trust shall not pay for funeral and burial expenses or other estate expenses after the death of the beneficiary, unless there are funds remaining after payment to DHS. If there are funds remaining after payment to DHS, then these residual funds shall be distributed to the Beneficiary, if living, or to the heirs or beneficiaries who are entitled to receive the Beneficiary’s residual estate after estate expenses are paid.
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DISPOSITION OF INCOME AND PRINCIPAL. (1) AT THE DIRECTION OF THE TRUSTOR The Trustee shall manage the property of the Trust estate, collect the income, and shall pay from the income of the Trust such amounts and to such persons as the Trustor may from time to time direct. In the absence of direction, the Trustee may accumulate the net income or may disburse any portion of the net income to or for the benefit of the Trustor, . In addition, the Trustee shall pay from the principal of the Trust such amounts and to such persons as said Trustor may direct. In the absence of direction, the Trustee may pay from the principal of this Trust such amounts as may be necessary for the health or maintenance of the standard of living of
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DISPOSITION OF INCOME AND PRINCIPAL. DURING THE LIFETIME OF TRUSTOR During the lifetime of the Trustor, such part or all of the net income or the principal of the trust estate shall be paid to Trustor at such times and in such amounts as Trustor shall in writing direct and in the absence of such direction, the net income shall be paid to Trustor in monthly or other convenient installments, no less frequently than annually; or, shall be delivered to such persons and in such amounts from time to time as the Trustor shall direct in writing signed by Trustor and delivered to Trustee. In the event Trustor shall be incompetent or unable to manage Trustor’s affairs, the Trustee shall pay or apply for the benefit of Trustor such amounts to such persons as in its sole and absolute discretion it deems necessary and proper for the health, support, maintenance, and welfare of Trustor and Trustor’s spouse and children.
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DISPOSITION OF INCOME AND PRINCIPAL. UPON DEATH OF TRUSTOR
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DISPOSITION OF INCOME AND PRINCIPAL. (1) AT THE DIRECTION OF THE TRUSTOR The Trustee shall manage the property of the Trust estate, collect the income, and shall pay from the income of the Trust such amounts and to such persons as the Trustor may from time to time direct. In the absence of direction, the Trustee may accumulate the net income or may disburse any portion of the net income to or for the benefit of the Trustor, Xxxx Xxxx Xxx-el. In addition, the Trustee shall pay from the principal of the Trust such amounts and to such persons as said Trustor may direct. In the absence of direction, the Trustee may pay from the principal of this Trust such amounts as may be necessary for the health or maintenance of the standard of living of Xxxx Xxxx Xxx-el. (2) DURING THE INCAPACITY OF THE TRUSTOR In the event Xxxx Xxxx Xxx-el is incapacitated as defined by this Trust Agreement, the Successor Trustee may apply or expend all or a part of the income and principal of this Trust, or both, for the health and maintenance of Xxxx Xxxx Xxx-el in him accustomed manner of living. During any period of incapacity of the Trustor, and provided sufficient resources exist for the care of the Trustor, the Successor Trustee is authorized to make distributions to or for the benefit of any issue of the Trustor who have no other financial resources and require said distribution for their health or support. In this regard the Successor Trustee shall consider all financial resources available to a beneficiary prior to making an invasion of this Trust, including, but not limited to, the ability of said beneficiary to earn a living and the ability of said beneficiary’s spouse, if any, to earn a living. In no event may a Successor Trustee participate in the exercise of this power in favor of himself.
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Related to DISPOSITION OF INCOME AND PRINCIPAL

  • Disposition of Income During the term of this Trust, all income received by the Trust, net of expenses and taxes, shall be accumulated and reinvested.

  • Collection of Income The Custodian shall use reasonable commercial efforts to collect all income and other payments with respect to the Foreign Assets held hereunder to which the Portfolios shall be entitled and shall credit such income, as collected, to the applicable Portfolio. In the event that extraordinary measures are required to collect such income, the Fund and the Custodian shall consult as to such measures and as to the compensation and expenses of the Custodian relating to such measures.

  • Capitalization of Interest The Mortgage Note does not by its terms provide for the capitalization or forbearance of interest.

  • Collection of Income and Other Payments (A) collect and receive for the account of each Portfolio, all income, dividends, distributions, coupons, option premiums, other payments and similar items, included or to be included in the Property, and, in addition, promptly advise each Portfolio of such receipt and credit such income to each Portfolio's custodian account; (B) endorse and deposit for collection, in the name of the Fund, checks, drafts, or other orders for the payment of money; (C) receive and hold for the account of each Portfolio all securities received as a distribution on the Portfolio's securities as a result of a stock dividend, share split-up or reorganization, recapitalization, readjustment or other rearrangement or distribution of rights or similar securities issued with respect to any securities belonging to a Portfolio and held by PFPC Trust hereunder; (D) present for payment and collect the amount payable upon all securities which may mature or be called, redeemed, retired or otherwise become payable (on a mandatory basis) on the date such securities become payable; and (E) take any action which may be necessary and proper in connection with the collection and receipt of such income and other payments and the endorsement for collection of checks, drafts, and other negotiable instruments.

  • Protection of Investments 1. All investments made by investors of either Contracting Party shall enjoy, in the territory of the other contracting party fair and equitable treatment. 2. Subject to the measures necessary for the maintenance of public order, such investments will enjoy a constant protection and security, excluding any unjustified or discriminatory measure which could adversely affect, in law or in fact, management, maintenance, use, enjoyment or disposal of such investments.

  • Allocations of Income and Loss For each taxable year, each holder of Preferred Units will be allocated a portion of the Net Income and Net Loss of the Partnership equal to the portion of the Net Income and Net Loss of the Partnership that would be allocated to such holder pursuant to Article 6 of the Agreement if such holder held a number of Partnership Common Units equal to (i) the number of Preferred Units held by such holder, multiplied by (ii) 0.625. Upon liquidation, dissolution or winding up of the Partnership, the Partnership shall endeavor to allocate income and gain to the holders of the Preferred Units such that the Capital Accounts related to the Preferred Units are equal to their Liquidation Preference.

  • Application of Insufficient Payments If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal and unreimbursed LC Disbursements then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and unreimbursed LC Disbursements then due to such parties.

  • Consolidated Fixed Charge Coverage Ratio Permit the Consolidated Fixed Charge Coverage Ratio as of the end of any Measurement Period ending as of the end of any fiscal quarter of the Borrower to be less than 1.25 to 1.00.

  • Termination of Investment The obligation of the Investor to make an Advance to the Company pursuant to this Agreement shall terminate permanently (including with respect to an Advance Date that has not yet occurred) in the event that (i) there shall occur any stop order or suspension of the effectiveness of the Registration Statement for an aggregate of fifty (50) Trading Days, other than due to the acts of the Investor, during the Commitment Period, and (ii) the Company shall at any time fail materially to comply with the requirements of Article VI and such failure is not cured within thirty (30) days after receipt of written notice from the Investor, provided, however, that this termination provision shall not apply to any period commencing upon the filing of a post-effective amendment to such Registration Statement and ending upon the date on which such post effective amendment is declared effective by the SEC.

  • Consolidated Interest Coverage Ratio Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Borrower to be less than 3.00 to 1.00.

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