Decanting Authorization
With regard to any trust created by or pursuant to this trust agreement of which the Trustee has the power to invade the principal to make distributions to or for the benefit of one or more persons, regardless of whether such power is subject to an ascertainable or non-ascertainable standard (or no standard), the Trustee may instead exercise the power by appointing all or part of the principal, income or both of such trust (the “First Trust”) in favor of the trustee of another trust, which may be a separate trust or the First Trust as modified after appointment under this Section (the “Second Trust”); provided, however, that (i) the beneficiary(ies) of the Second Trust may only be one or more of the beneficiaries of the First Trust, and (ii) the trustee’s power to invade the principal of the Second Trust shall be subject to the same standard, if any, as the standard to which the Trustee’s power to invade the principal of the First Trust is subject. The Trustee’s power under this Section to appoint the principal, income or both of the First Trust in favor of the trustee of a Second Trust shall include the power to create the Second Trust; provided, however, that if such power to appoint is subject to the direction or requires the consent of another fiduciary hereunder, the power to create the Second Trust shall also be so subject to such direction or consent. [The Trustee’s power under this Section to appoint the principal, income or both of the First Trust in favor of the trustee of a Second Trust shall also include the power to grant a power of appointment under the Second Trust to any one or more beneficiaries who are eligible to receive distributions of principal of the First Trust, and such power of appointment may be exercisable in favor of any class of permissible appointees, including a class that is broader than or otherwise different from the class of beneficiaries of the First Trust.]