Administration of Trust. The Trustee shall administer the trust of the Indenture and shall perform a substantial part of its obligations relating to each series of Debt Securities and this Indenture at its corporate trust office in the City of New York.
Administration of Trust. 10 Section 3.1. Initial Cost..............................................................................10 Section 3.2. Income Account............................................................................11 Section 3.3. Principal Account.........................................................................11 Section 3.4. Reserve Account...........................................................................11 Section 3.5.
Administration of Trust. The principal place of administration of the Trust shall be in the State of Delaware.
Administration of Trust of the Original Indenture shall be amended and supplemented by inserting the following new section in its entirety:
Administration of Trust. The principal place of ----------------------- administration of the trust created by this Trust Agreement shall be in the State of Delaware. * * *
Administration of Trust. In addition to the provisions set forth in Section 3.1 of the Base Trust Agreement, the Trustee shall administer the Trust for the benefit of the Warrantholders but only to the extent of the interests of the Warrantholders therein and provided further, in the event of a conflict of interest between the Certificateholders and the Warrantholders, the interests of the Certificateholders shall prevail. The Warrantholders’ right to call the Underlying Securities shall not be considered a conflict of interest with the Certificateholders for purposes of this provision.
Administration of Trust. The principal place of administration of the Trust shall be in __________.
Administration of Trust. Section 3.01.
Administration of Trust. (1) The County will transmit eligibility files and all contributions as provided in Section 3 to the Trust on a bi-weekly basis for the purpose of plan administration as required by the Trust. The County will deduct administrative fees provided in Section 7(3) per participating employee from the transfer of premiums to the trust on a bi-weekly basis. Likewise, the Trust will provide the County on a bi-weekly basis employees’ plan elections (e.g., Employee Only, Employee + 1, or Employee + 2 or more). The Trust will be responsible for reconciling any billing discrepancies with their healthcare carrier plans. Any discrepancies identified will be paid or withheld from a future scheduled payment.
(2) The Trust will be responsible for reimbursing the County up to a maximum of $2,274 for start-up administrative costs incurred by the County. The County shall invoice the Trust for all such costs incurred.
(3) In addition to any other deductions required by this Article and/or MOU, the County shall deduct the following amounts from the employee’s pay warrant in accordance with the Section 125 Plan for ongoing administrative costs associated with the active plan under the Trust:
(4) The Trust fund shall be administered by healthcare benefit Trustee(s) who shall serve in a legally recognized fiduciary capacity. The Trust shall maintain fiduciary liability insurance coverage for Trustees. The County may request to be listed as an additional insured on an endorsement of the administrator’s errors and omission policy.
(5) The Trust will be responsible for all accounting practices relating to the disbursement of all trust funds. Accounting practices will be in accordance with industry standards for trust fiduciaries, including the prompt payment of any premiums due to health plan providers. To the extent that the County may be required to obtain information from the Trust for the purpose of completing its annual financial statements, the Trust will cooperate in providing necessary information.
(6) The Trust will be responsible for all policies relating to the investment of trust funds, including reserves. Investment practices will be in accordance with industry fiduciary standards and best practices.
(7) The parties agree that the County, to include its officers, employees, or agents, shall have no fiduciary or administrative responsibility or liability whatsoever with respect to the Trust or the plans funded by the Trust, including but not limited to the accounting deci...
Administration of Trust. In administering this Trust, the Trustee shall administer the same for the benefit of all Participants and Beneficiaries as herein provided, without discrimination in favor of one or some Participants or Beneficiaries as against one or some other Participants or Beneficiaries. Whenever action is required by the Trustee hereunder, the same may be taken by any individual designated as agent for the purpose. The Trustee shall notify the Authority of any change of agent. The Trustee shall be entitled to rely upon information or instructions received from an agent of the Authority whose authority to act was last certified to the Trustee by a vote of the Board. Any information or instruction from the Authority to the Trustee shall be in writing and shall be effective upon delivery to the Trustee. The Trustee shall be under no duty or responsibility to inquire into the acts or omissions of the Authority, nor shall the Trustee have any liability therefore. Should it become necessary to perform some act hereunder and there is neither direction nor information nor instructions from the Authority on file with the Trustee relating thereto, and no such information or instructions can be obtained after reasonable inquiry, the Trustee shall have full power and authority to act in the Trustee’s discretion, consistently with the purpose of this Trust; and in so acting or in following any instructions from the Authority, the Trustee shall be fully protected and shall be absolved from all liability except from fraud or bad faith. The duties, powers and responsibilities of the Trustee shall be limited as specifically provided herein. No person serving as a Trustee hereunder shall be liable or responsible to anyone for any matter or thing whatsoever, provided only that such person has acted in good faith. The Trustee in performing any act hereunder shall be entitled to rely upon any affidavit, certificate, letter, notice, telegram or other paper or electronic document believed by the Trustee to be genuine and upon any information or evidence believed by the Trustee to be sufficient; and the Trustee shall be protected in all payments hereunder if made in good faith and without actual knowledge of the happening of an event or a change in conditions which would affect such payments. The Trustee shall take no action nor make any determination inconsistent with any qualification or ruling of the Internal Revenue Service, an arbitrator or the courts with respect to the Trust. In the...
