Common use of Principal and Income Clause in Contracts

Principal and Income. The trustee may allocate items of income or expenditure to either income or principal and create reserves out of income all as pro- vided by law, and to the extent not so provided, to allocate to income or principal or create reserves, on a reasonable basis, and the fiduciary’s decision made in good faith with respect thereto shall be binding and conclusive upon all persons.

Principal and Income. The trustee may allocate items of income or expenditure to either income or principal and create reserves out of income all as pro- vided provided by law, and to the extent not so provided, to allocate to income or principal or create reserves, on a reasonable basis, and the fiduciary’s decision made in good faith with respect thereto shall be binding and conclusive upon all persons.

Principal and Income. The trustee Trustee may allocate items of income or expenditure to either income or principal and create reserves out of income all as pro- vided provided by law, and to the extent not so provided, to allocate to income or principal or create reserves, reserves on a reasonable basis, and the . The fiduciary’s 's decision made in good faith with respect thereto shall be binding and conclusive upon all persons.