No. CCCL. Trust Deed. debts, and surplus (if any) to the several debtors. exs ads ass agents or atties and in proportion to the amount of the debts owing them resply witht any priority or preference until each of the sd crs resply or his or her exs &c. shall have received the full amount of the debts owing to him her or them and do and shall apply the residue or surplus (if any) of the produce of the separate este of each of them the sd (D.) in aid of the ptship fund for the paymt of the ptship debts until each of the Pay partnership sd ptship crs who have exted or shall exte these prests his or her exs &c. shall have recd the full amount of the debts owing to him her or them resply and do and shall apply the surplus (if any) of the share of each of them in the clear residue of the ptship effects in or towards such of his separate debts for which provision is hby made as shall not have been discharged out of the clear residue of his separate este in manner and pursuant to the directions hnbefe contd in that behalf And lastly do and shall pay to each of them the sd (D.) his exs ads or ass the clear residue or surplus (if any) of the produce of his separate este as also of the surplus (if any) of his share of the produce of the ptship effects subject nevss to the provision hnaftr contd i. e. in case any one or more of the sd (D.) is are or shall become a cr or crs of the or. or ors of them either by having pd or payg out of the produce of his effects or orwise debts or the share of debts paye by the or. of them Then and in that case such of them the sd (D.) as shall be a cr or crs shall rece out of the surplus which would have belonged to such of them as shall be a dr or drs as afd the money which shall be owing to him or them as afd any thing hnaftr contd to the contrary thof in anywise notwithstanding (a) Provided always and it is hby decld and agrd by Provision as to and betn all the pties to these prests that in case there shall be bills before they the discharging any sum or sums of money owing or to be pd by the sd (D.) on are due. bills or orwise which are not yet paye it shall and may be lful for the sd trustee or trustees for the time being to pay the same sums or a dividend thereon on being allowed discount or rebate (a) If a fiat has been issued against one of the partners, then say, "Provided always and it is hby decld and agrd by and betn the pties hereto that unless the fiat of bankruptcy awarded and issued agst the sd C. shall be rescinded within mths after the day of the date of these prests the trusts hnbefe decld for the bent of the separate crs of the sd C. shall cease and be void. Provided also and it is &c." See above. VOL. I. Y Y Trust Deed. No. CCCL. for the time which shall remain unexpired at the time of the paymt of the same sums of money in the same manner as if the same debts had been proved or claimed under a fiat of bkptcy Provided also that it shall and may be lful for the trustee or trustees for the time being if he or they shall think proper out of the trust or any or. mos which shall come to his or their posson under or by virtue of the release (or Bargain and Sale) and Assignment bearing even date with these prests to satisfy and discharge the extents at the suit of the Crown which have been awarded agst the este and effects of the sd (D.) And also after paying thereout all such costs chas and exps as are hnaftr directed to be raised and pd to pay the sevl crs of the sd (D.) whose debts resply do not exceed the sum of £ To discharge Power to com pound with creditors &c. each the full amount of such debts nevss with this restriction that the proceeds of the ptship effects as far as the same will extend shall be applied in paymt of such only of the same debts as are owing on the sd ptship acct and that the proceeds of the separate estes of each of them the sd (D.) so far as the same will extend shall be pd and applied in paymt of such of the same debts as are owing by each of them the sd (D.) resply upon his separate acct [but the ptship property or the proceeds thereof may by way of loan to the separate este of the sd (D.) be applied in paymt and discharge of the money to be levied on the sd extents] And that it shall and may be lful for the sd (D.) or the survor &c. or the trustee or trustees for the time being if he or they shall see occasion and in his and their discretion think it expedient to settle and agree with any of the crs of the sd (D.) jtly and sevlly whose respive debts do not amount to £ and to make them such paymts or compensation for the same by way of composition as they may resply agree to accept Provided always that if at any meeting of the creditors release or extend to be convened for the purpe by fourteen days' notice in the London Gazette (stating the day and place of such meeting) it shall be deemed expedient by the major pt in value of the crs then present and it shall be then and there resolved and determined that the power and provision lastly hnbefe contd shall be reld and abandoned or shall be enlarged and extended as to the amount of the debts to be comprehended within such provision Then and in such case the same shall be either reld and aban Proviso that creditors may the power of compounding debts. No. CCCL. Trust Deed. debts of credi doned by the sd trustee or trustees for the time being and shall thenceforth cease and be void to all intents and purps whatsr but witht prejudice to any composition or agrt previously made under or by virtue of the same provision or as the circumstances of the case shall require the trustee or trustees for the time being shall be at full liberty and have full power and authty to act under such enlarged or extended power of compounding debts as the case may be And also to pay to and for all or any To set apart of the crs of the sd (D.) either jtly or sevlly who by reason of tors abroad. infancy or or. disability cannot legally or witht breach of trust accede to these prests the full amount of the debts owing to the same resply and also to appropriate and set apart the amount of the debts owing to creditors in India or in pts beyond the seas who shall not before a final dividend shall be made accede to and exte these prests And finally if it shall be deemed necessary or expedient to retain such sum or sums of money as shall be required to answer the full amount of the debts in respect of which such appropriation is to be made the balance or surplus of debts (if any) after satisfying the debts of the crs residing abroad or so much of the same debts as the trustee or trustees for the time being shall think fit to satisfy shall be applied in the same or like manner as the residue of the produce of the sd trust estes Subject nevss to the provision hnaftr contd that is to say Provided always and it is hby decld that all debts Debts to be owing by the sd (D.) as well on the ptship as on the separate acct shall be verified and proved by the affidavits of the sd sevl crs stating the amount and conson of the same to be sworn before a Master Extraordinary in Chancery or a magistrate of the county or district in which the pty shall reside if the trustee or trustees for the time being shall require the same Provided also and notwithstanding any thing hnbefe contd it shall and may be lful for the sd trustee or trustees for the time being to compromise settle and ascertain the amount of the debt or debts claimed by the cr or crs resply and also the fund on which the pty or pties is are or ought to be deemed a cr or crs and also to separate distinguish and allot the separate property from the ptship property according to the best of his or their judgment for the purpe of dividing the final residue or surplus (if any) verified on oath. No. CCCL. Provision as to securities. - Power to compound debts owing to the debtors. betn the sd (D.) and their reptive or reptives Provided (a) also and it is hby decld and agrd that any er or crs who hath or have creditors having any secty for his her or their debt or any pt thof shall or may exte these prests witht prejudice to the same secty or secties with the consent of the trustee or trustees for the time being and convert the same into money and rece a divd rateably with the or. crs for so much of the same debt or debts as shall not be answd and pd out of the proceeds of the same secty or secties And that the trustee or trustees for the time being shall or may in his or their discretion compound any debt or debts owing to the sd (D.) or any one or more of them and accept pt thof or give further time for paymt of the same debt or debts and shall or may sue or refrain from suing for any debt or debts as they shall think proper or sign a certificate of any psn or psns indebted to the sd (D.) who are or may become bankrupt And that the trustee or trustees for the time being shall or may make any arrangement he or they shall deem proper with any psn or psns holding any secties given by the sd (D.) or any of them as a pledge for money for the purpe of procuring possession of the lds and property comprised in any mtge made or secty given so nevss as that the conson or price given upon such arrangement shall not exceed the amount or value of the principal and int And furr that the sd trustee or trustees for the time being shall and may sell all or any pt of the trust property for money to be pd at a future day or upon credit or for secty or secties by way of bills of exchange or orwise as he or they shall think advantageous And shall or may sell or convert into money all contingent ints and secties which cannot immly be inforced with a prospect of advantage and all debts which shall be deemed bad or doubtful or which cannot be collected in within rease time And shall and may be at liberty at any auction or auctions to buy in all or any pt of the trust property which shall be offered for sale and to resell the same at any future auction or by private contract witht being liable to answer for any loss or diminution of price upon such resale And it is hby furr decld and agreed that in case any doubt or difficulty shall arise in ascertaining the amount of any sum or sums of money due or paye To sell upon credit. To refer disputes to arbitration. (a) As to the reason for this clause, see Pref. sect. 5. Trust Deed. Power to rent clerks, &c. offices, hire to any cr or crs of the sd (D.) either on their ptship or separate No. CCCL. acct Then and in evy such case the full and exclusive power of ascertaining the amount of the same debt or debts resply shall be referred to such psn or psns as the sd trustee or trustees for the time being on the one pt and the cr or crs the amount of whose debt or debts shall be called in question of the or. pt shall appt for that purpe And that the award and determination. of the person so apptd shall be final and conclusive on all psns intitled to any int or bent under these prests And that all differences which shall arise respecting the amount of any debt or debts owing to the sd (D.) or any one or more of them jtly or separately or touching or concerning any property claimed as their or any or either of their effects or belonging especially to any of their crs shall be settled in the same or like manner if the sd (T.) or &c. shall think it proper and requisite to settle the same And it is furr provided and agrd that the trustee or trustees for the time being shall and may rent and hire such places and employ such psns and at such salaries as he or they shall think proper and necessary for carrying on the affairs of the trust and at the expence of the trust este And also in case it shall be deemed expedient to defend any action or suit touching or concerning the trust este the trustee or trustees for the time being shall or may exercise his or their discretion in commencing and defending the same and shall or may retain all costs chas and exps in anywise relating thereto by and out of the monies which shall be recd by him or them by virtue of the trusts afd And To allow furr that it shall and may be lful for the trustee or trustees for of household the time being to give and deliver to each or any or either of the furniture, &c. sd (D.) either the use for a time to be limited or the absolute property of all or any pt of the household furniture and linen of each of the sd (D.) any thing hnbefe contd in anywise to the contrary notwithstanding And it is hby decld and agrd that Receipts of the rect and rects of the trustee or trustees for the time being valid discharges. shall be a full and effectual discharge and full and effectual discharges to all psns who shall become purchasers of the este and effects of the sd (D.) to be conveyed and assigned and covtd to be surrendered by the sd indre of Release (or Bargain and Sale) and Assnmt bearing even date herewith and to his her or their respive hrs exs ads and ass for such purchase money To defend actions, &c. debtors the use trustees to be |