Common use of Timing of Trust Income and Expenses Clause in Contracts

Timing of Trust Income and Expenses. The Trustee will use all reasonable efforts to cause the Trust and the Unitholders to recognize income and expenses on Monthly Record Dates. The Trustee will invoice the Trust for services rendered by the Trustee only on a Monthly Record Date and shall cause the Trust to pay any such invoices only on the Monthly Record Date on which an invoice is rendered and will use all reasonable efforts to cause all Persons to whom the Trust becomes liable to invoice the Trust for such liability on a Monthly Record Date and to cause the Trust to pay any such liabilities on the Monthly Record Date on which such liability is invoiced. In connection with the requirements of any securities exchange on which the Units are listed or market system through which Units are traded, the Trustee will, if required by such securities exchange or market system, use all reasonable efforts to determine the Monthly Distribution Amount and report such amount to the exchange or market system at such time as may be required by such securities exchange or market system. Nothing in this Section 3.14 shall be construed as requiring the Trustee to cause payment to be made for Trust liabilities on any date other than on such date as in its sole discretion it shall deem to be in the best interest of the Unitholders.

Appears in 2 contracts

Samples: Hugoton Royalty Trust Indenture (Cross Timbers Oil Co), Cross Timbers Oil Co

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Timing of Trust Income and Expenses. The Trustee will use all reasonable efforts to cause the Trust and the Unitholders Unit Holders to recognize income (including any income from interest earned on investments made in accordance with this Agreement or any sale of the Royalties or any Other Trust Interest) and expenses on Monthly Record Dates. The Trustee will invoice the Trust for services rendered by the Trustee only on a Monthly Record Date and shall cause the Trust to pay any such invoices invoice only on the Monthly Record Date on which an such invoice is rendered and will use all reasonable efforts to cause all Persons to whom the Trust becomes liable to invoice the Trust for such liability on a Monthly Record Date and to cause the Trust to pay any such liabilities liability on the Monthly Record Date on which such liability is invoiced. In connection with the requirements of any securities stock exchange on which the Units are listed or market system through which Units are tradedlisted, the Trustee will, if required by such securities exchange or market systemstock exchange, use all reasonable efforts to determine the Monthly Distribution Income Amount and report such amount to the such stock exchange or market system at such time as may be required by such securities exchange or market systemstock exchange. Nothing in this Section 3.14 6.07 shall be construed as requiring the Trustee to cause payment to be made for Trust liabilities on any date other than on such date as in its sole discretion it shall deem to be in the best interest interests of the UnitholdersUnit Holders.

Appears in 1 contract

Samples: Royalty Trust Agreement (Sabine Royalty Trust)

Timing of Trust Income and Expenses. The Trustee will use all reasonable efforts to cause the Trust and the Unitholders Unit Holders to recognize income (including any income from interest earned on reserves established pursuant to Section 3.08 hereof) and expenses on Monthly Record Dates. The Trustee will invoice the Trust for services rendered by the Trustee only on a Monthly Record Date and shall cause the Trust to pay any such invoices only on the Monthly Record Date on which an invoice is rendered and will use all reasonable efforts to cause all Persons persons to whom the Trust becomes liable to invoice the Trust for such liability on a Monthly Record Date and to cause the Trust to pay any such liabilities on the Monthly Record Date on which such liability is invoiced. In connection with the requirements of any securities stock exchange on which the Units are listed or market system through which Units are tradedlisted, the Trustee will, if required by such securities exchange or market systemstock exchange, use all reasonable efforts to determine the Monthly Distribution Amount and report such amount to the exchange or market system at such time as may be required by such securities exchange or market systemstock exchange. Nothing in this Section 3.14 shall be construed as requiring the Trustee to cause payment to be made for Trust liabilities on any date other than on such date as in its sole discretion it shall deem to be in the best interest of the UnitholdersUnit Holders.

Appears in 1 contract

Samples: Royalty Trust Indenture (San Juan Basin Royalty Trust)

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Timing of Trust Income and Expenses. The Trustee will use all reasonable efforts to cause the Trust and the Unitholders to recognize income and expenses on Monthly Quarterly Record Dates. The Trustee will invoice the Trust for services rendered by the Trustee only on a Monthly Quarterly Record Date and shall cause the Trust to pay any such invoices only on the Monthly Quarterly Record Date on which an invoice is rendered and will use all reasonable efforts to cause all Persons to whom the Trust becomes liable to invoice the Trust for such liability on a Monthly Quarterly Record Date and to cause the Trust to pay any such liabilities on the Monthly Quarterly Record Date on which such liability is invoiced. In connection with the requirements of any securities exchange on which the Units are listed or market system through which Units are traded, the Trustee will, if required by such securities exchange or market system, use all reasonable efforts to determine the Monthly Quarterly Distribution Amount and report such amount to the exchange or market system at such time as may be required by such securities exchange or market system. Nothing in this Section 3.14 shall be construed as requiring the Trustee to cause payment to be made for Trust liabilities on any date other than on such date as in its sole discretion it shall deem to be in the best interest of the Unitholders.

Appears in 1 contract

Samples: Royalty Trust Agreement (Newfield Exploration Co /De/)

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