Common use of Payment of Debts, Taxes and Expenses Clause in Contracts

Payment of Debts, Taxes and Expenses. Subject to the provisions of Section 2.8, the Trustee, at the request of the Settlor's Executrix, shall contribute to the Settlor's estate and/or, in the Trustee's sole discretion, may lend or contribute to the Settlor's estate, for the preservation of any legacies contained in the Settlor's Will and/or for the payment of any debts, administration and funeral expenses, federal and state estate, inheritance and succession taxes incurred by reason of the Settlor's death; provided, however, that in no event shall any of the aforesaid legacies, debts, expenses and taxes of the Settlor be paid from any asset or the proceeds thereof, not includable in the Settlor's estate for federal estate tax purposes.

Payment of Debts, Taxes and Expenses. Subject to the provisions of Section 2.8, the Trustee, at the request of the Settlor's Executrix, shall contribute to the Settlor's estate and/or, in the Trustee's sole discretion, may lend or contribute to the Settlor's estate, for the preservation of any legacies contained in the Settlor's Will and/or for the payment of any debts, administration and funeral expenses, federal and state estate, inheritance and succession taxes incurred by reason of the Settlor's death; provided, however, that in no event shall any of the aforesaid legacies, debts, expenses and taxes of the Settlor be paid from any asset or the proceeds thereof, not includable in the Settlor's estate for federal estate tax purposes.