When two provisions of a trust deed or contract are inconsistent and it is debatable which is the more general and which the more specific, the resolution lies in determining which provision gives effect to an object important to the transaction, rather than in purely linguistic analysis of generality and specificity. In debenture trust deeds, securing the professional trustee's remuneration is properly regarded as a fundamental element of the transaction, and provisions securing that remuneration should not be read down in favour of distribution waterfall provisions.
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