Common use of Limitations on Trustees' Powers Clause in Contracts

Limitations on Trustees' Powers. The Trustee’s powers are subject to the Trustee’s duty to treat income and remaindermen beneficiaries equitably, and the grant of general powers above is limited as follows: a. Neither the Trustee, the Settlor nor any Nonadverse Party to the Settlor shall have any power which enables the Settlor, his wife or any other person to purchase, exchange or otherwise deal with or dispose of the principal or income from any trust created hereunder for less than an adequate consideration in money or money’s worth.

Limitations on Trustees' Powers. The Trustee’s powers are subject to the Trustee’s duty to treat income and remaindermen beneficiaries equitably, and the grant of general powers above is limited as follows: a. Neither the Trustee, the Settlor nor any Nonadverse Party to the Settlor shall have any power which enables the Settlor, his wife her husband or any other person to purchase, exchange or otherwise deal with or dispose of the principal or income from any trust created hereunder for less than an adequate consideration in money or money’s worth.