Common use of Perpetuities Clause in Contracts

Perpetuities. Anything herein contained to the contrary notwithstanding, no trust (other than a trust of a vested interest) created hereunder shall continue more than twenty-one (21) years after the death of the last to die of the Grantor and Primary Beneficiary; and upon the expiration of such period all trusts shall terminate and the assets thereof shall be delivered and conveyed to the then living income beneficiaries pursuant to the provisions of this Article.