Related Party Transactions

6 Months Ended

Jun. 30, 2024

Related Party Transactions [Abstract]

Related Party Transactions

NOTE 4. RELATED PARTY TRANSACTIONS

The Trustees are paid in accordance with the Declaration of Trust, which provides that each Trustee shall receive annual compensation of $2,500, provided that such aggregate compensation to the Trustees as a group may not exceed 3% of the Contingent Portion amounts received by the Trust in any year. The Declaration of Trust also provides for the reimbursement of expenses reasonably incurred in the performance of a Trustee’s duties to the Trust, including clerical and administrative services. Accordingly, the Trustees are entitled to receive annual compensation and reimbursement for services performed for the Trust, including the Corporate Trustee’s services as the Registrar and Transfer Agent of the certificates representing the Trust Units. The Declaration of Trust also provides that if a Trustee performs unusual or extraordinary services, reasonable compensation for such services shall be paid, subject to the terms and conditions of the Declaration of Trust.

Pursuant to the Declaration of Trust, disbursements were made as follows to the Trustees for the three and six months ended June 30, 2024 and June 30, 2023:

	Three Months Ended June 30					Six Months Ended June 30
	2024		2023			2024		2023
Corporate Trustee Fees and Expenses	$	625	$	0		$	1,250	$	1,250
Individual Trustee Fees and Expenses		625		1,250			1,875		2,500
Transfer Agent and Registrar Fees and Expenses(1)		6,875		0			10,625		7,500
TOTALS	$	8,125	$	1,250	(2)	$	13,750	$	11,250	(2)

(1) These services are performed by the Corporate Trustee.

(2) Corporate Trustee Fees and Expenses of $625 and Transfer Agent Registrar Fees and Expenses of $3,750 attributable to the three- and six-months ended June 30, 2023 were actually paid by the Trust in July 2023.

The administrative office of the Trust is located at the offices of the Corporate Trustee, HSBC Bank, USA, N.A., Corporate Trust Issuer Services, 66 Hudson Boulevard East, New York, NY 10001. Except for fees paid to the Corporate Trustee in accordance with the Declaration of Trust, no expense is being charged or paid by the Trust for the office space and office equipment of the Corporate Trustee that is being utilized for the Trust.