Common use of Trustee Remuneration Clause in Contracts

Trustee Remuneration. (a) The Trustee is entitled to a fee for services as Trustee of an amount, and payable at such times, as set out in schedule 1, as varied from time to time with the agreement of the Trustee and as approved by: (i) where there are no Preference Units on issue, a Special Resolution of Unit Holders holding Ordinary Units; and (ii) where there are Preference Units on issue, a Special Resolution of Unit Holders holding Preference Units. (b) The Trustee fee may be paid out of income of the Trust and, to the extent necessary, from Calls. The Trustee may also negotiate to receive fees separately from Unit Holders. (c) The Trustee may accept lower fees than, or waive the entire fee that, the Trustee is entitled to receive under this Deed, or may defer payment for any period. Where payment is deferred, the fee accrues daily (without interest) until paid.