Maximum Duration of Trusts. Regardless of any other provision herein, the Maximum Duration for Trusts is the longest period that property may be held in trust under this Agreement under the applicable rules of the State of Washington governing perpetuities, vesting, accumulations, the suspension of alienation and the like (including any applicable period in gross such as twenty-one (21) years or ninety-nine (99) years). If, under those rules, the Maximum Duration for Trusts shall be determined (or alternatively determined) with reference to the death of the last survivor of a group of individuals alive upon either of our deaths, or at such other time that the application of such rules limiting the maximum duration of trusts is deemed to begin, those individuals shall consist of all beneficiaries (including future and/or contingent) of this trust (as hereinafter named) alive at the time of such death. Any trust created hereunder must end immediately prior to such maximum duration and, thereupon, the Trustee shall pay over the principal, free from such trust, to the person or persons then entitled to receive the net income.
Maximum Duration of Trusts. 2.H. Special Distributions. (minor, special needs) 2.I. Conflict Resolution. Arbitration clause.
Maximum Duration of Trusts. Notwithstanding any other provision in this Trust Agreement to the contrary, any trust created by this Trust Agreement, unless earlier terminated according to the terms of this Trust Agreement, will terminate one day less than 21 years after the date of death of the Settlor and the following persons who are living on the date of death of the Settlor: (1) the Settlor’s descendants; (2) the Settlor’s parents; (3) the descendants of the Settlor’s father; and (4) the descendants of the Settlor’s mother; provided, however, that if the applicable rule against perpetuities allows for a different maximum allowable time, then an election to use such maximum allowable time is made. If the Trustee at any time combines and administers as one trust any trust or trusts created hereunder and any trust or trusts under any other instrument, such combined trust will not continue beyond the earlier date on which either of such trusts would, without regard to such combination, have been required to terminate under the rule against perpetuities or other applicable law governing the maximum duration of trusts. If any trust (including a combined trust) would, but for the terms of this Section, continue beyond such date, such trust will nevertheless at that time terminate and the remaining property of such trust will be distributed as provided in the Article which creates such trust.
Maximum Duration of Trusts. Regardless of any other provision herein, the Maximum Duration for Trusts is the longest period that property may be held in trust under this Agreement under the applicable rules of the Commonwealth of Pennsylvania governing perpetuities, vesting, accumulations, the suspension of alienation and the like (including any applicable period in gross such as twenty-one (21) years or ninety-nine (99) years). If, under those rules, the Maximum Duration for Trusts shall be determined (or alternatively determined) with reference to the death of the last survivor of a group of individuals alive at the time that the application of such rules limiting the maximum duration of trusts is deemed to begin, those individuals shall consist of all beneficiaries (including future and/or contingent) of this trust now living. Any trust created hereunder must end immediately prior to such maximum duration and, thereupon, the Trustee shall pay over the principal, free from such trust, in the manner hereinafter set forth for termination of the trust.
Maximum Duration of Trusts
