Coombe-Tennant Foundation

THE TRUSTEES SHALL HOLD THE TRUST FUND AND ITS INCOME UPON TRUST TO APPLY THEN IN SUCH PROPORTIONS AND IN SUCH MANNER IN ALL RESPECTS FOR SUCH CHARITABLE PURPOSES AS THE TRUSTEES IN THEIR ABSOLUTE DISCRETION FROM TIME TO TIME THINK FIT.PROVIDED THAT THE TRUSTEES MAY INSTEAD OF THEMSELVES SO PAYING OR APPLYING ANY OF THE SAID INCOME OR CAPITAL IN THEIR ABSOLUTE DISCRETION PAY OR TRANSFER THE SAME TO ANY CHARITY OR CHARITIES ( WHETHER INCORPORATED OR NOT AND INCLUDING NOT ONLY EXISTING CHARITIES BUT ALSO SUCH NEW CHARITIES AS THE TRUSTEES MAY DECIDE TO ESTABLISH) EITHER FOR THE GENERAL PURPOSES OF SUCH CHARITY OR CHARITIES OR FOR ANY SPECIFIC CHARITABLE PURPOSE OR PURPOSES OF, OR CONNECTED WITH, SUCH CHARITY OR CHARITIES.PROVIDED FURTHER THAT THE TRUSTEES MAY AT THEIR ABSOLUTE DISCRETION FOR THE PERIOD OF TWENTY ONE YEARS FROM THE DATE OF THIS DEED INSTEAD OF APPLYING THE INCOME OF THE CHARITY IN ANY YEAR ACCUMULATE ALL OR ANY PART OF SUCH INCOME BY INVESTING THE SAME AND THE RESULTING INCOME IN ANY OF THE AUTHORISED INVESTMENTS AND HOLD THE SAME AS AN ACCRETION TO AND AS PART OF THE CAPITAL OF THE CHARITY WITHOUT PREJUDICE TO THEIR RIGHT TO APPLY THE WHOLE OR ANY PART OF SUCH ACCUMULATED INCOME IN ANY SUBSEQUENT YEAR AS IF THE SAME WERE INCOME OF THE CHARITY ARISING IN THE THEN CURRENT YEAR.PROVIDED FURTHER THAT NOTWITHSTANDING ANYTHING CONTAINED IN THIS DEED NO PART OF THE TRUST FUND OR THE INCOME THEREOF SHALL BE PAID OR APPLIED OTHERWISE THAN FOR EXCLUSIVELY CHARITABLE PURPOSES.