Common use of Payment of Trust Administration Costs Clause in Contracts

Payment of Trust Administration Costs. Subject to the limits set forth in subparagraph 2.2.1, the Mitigation Trust shall pay from the Trust Administration Cost Subaccount its own reasonable and necessary costs and expenses, and shall reimburse the Trustee for the actual reasonable out-of-pocket fees, costs, and expenses to the extent incurred by the Trustee in connection with the administration of the Trust. The Trustee also shall be entitled to receive reasonable compensation for services rendered on behalf of the Mitigation Trust, in accordance with the projected annual budgets for administration of the Mitigation Trust required under subparagraph 3.3.1.3 hereof, not to exceed ($[ ]) per hour. Notwithstanding the foregoing, the total amount of allowable Trust Administration Costs shall not exceed the cost cap established under subparagraph 1.