Common use of Permanent Incapacity Clause in Contracts

Permanent Incapacity. An individual Trustee shall permanently cease to serve as Trustee of all trusts under this document upon the first to occur of (A) the expiration of ninety (90) days following a determination or finding of temporary incapacity, unless the individual Trustee has resumed serving as Trustee pursuant to subparagraph (ii) above, and (B) a determination or finding of permanent incapacity. For purposes of the preceding sentence, if, within ten (10) days following an individual Trustee’s resumption of service as Trustee pursuant to subparagraph (ii) above, there is a subsequent determination or finding of his or her incapacity, the temporary period of capacity shall be disregarded and the ninety (90) day period shall commence from the initial determination or finding of incapacity. A Trustee who permanently ceases to serve as Trustee pursuant to this Paragraph shall not be relieved of liability as Trustee until his or her accounting has been settled pursuant to Paragraph 5.7. or 5.8.