Common use of Expenses of Trust Clause in Contracts

Expenses of Trust. The parties expect that any Trust created pursuant to section 7.01 will be treated as a “grantor” trust for federal and state income tax purposes and that, as a consequence, the Company will recognize taxable income from the Trust assets, but the Trust itself will not separately be subject to income tax with respect to its income. However, if the Trust should be separately taxable, the Trustee will pay all such taxes out of the Trust. All expenses of administering any Trust, if not paid by the Company, will be a charge against and will be paid from the assets of the Trust.

Expenses of Trust. The parties expect that any Trust created pursuant to section Section 7.01 will be treated as a “grantor” trust for federal and state income tax purposes and that, as a consequence, the Company will recognize taxable income from the Trust assets, but the Trust itself will not separately be subject to income tax with respect to its income. However, if the Trust should be separately taxable, the Trustee will pay all such taxes out of the Trust. All expenses of administering any Trust, if not paid by the Company, will be a charge against and will be paid from the assets of the Trust.

Expenses of Trust. The parties expect that any Trust created pursuant to section Section 7.01 will be treated as a “"grantor” " trust for federal and state income tax purposes and that, as a consequence, the Company will recognize taxable income from the such Trust assets, but the Trust itself will not separately be subject to income tax with respect to its income. However, if the Trust should be separately taxable, the Trustee will shall pay all such taxes out of the Trust. All expenses of administering any Trust, if not paid by the Company, will such Trust shall be a charge against and will shall be paid from the assets of the such Trust.