Common use of Approval of Investments Clause in Contracts

Approval of Investments. Before making any new invest-ment or reinvestment of any funds of this Trust, the Trustees shall submit to the Executive Committee of the Company, or its designated subcommittee, a list of such securities in which it proposes to invest such funds and the amount proposed to be invested in each security, and the Trustees shall proceed to purchase, or refrain from purchasing, such securities in accordance with the acceptance or rejection, in whole or in part, of such proposals by the Executive Committee of the Company, or its designated subcommittee. Acceptance or rejection of such proposals, or any of them by the said Committee, shall be signified in writing and delivered to the Trustees within thirty (30) days of the submission of such proposals by the Trustees, provided however, that if no written acceptance or rejection of such proposals, or any of them, shall be so delivered by the said Committee within the time herein limited therefor, the Trustees shall be warranted and protected in assuming that all of the proposed investments which have not been specifi-cally rejected as aforesaid, meet with the complete approval of said Executive Committee or its designated subcommittee.

Approval of Investments. Before obtaining any loan or making any new invest-ment investment or reinvestment of any funds of this Trust, the Trustees shall submit to the Executive Committee of the Company, or its designated subcommittee, a proposal of the terms of any such loan, or a list of any such securities in which it proposes pro-poses to invest such funds and the amount proposed to be invested in each security, and the Trustees shall proceed to act on such loan, to purchase, or refrain from purchasing, such securities in accordance with the acceptance or rejection, in whole or in part, of such proposals by the Executive Committee of the Company, or its designated subcommittee. Acceptance or rejection of such proposalspro-posals, or any modification thereof, or any of them by the said Committee, shall be signified in writing and delivered to the Trustees within thirty (30) days of the submission of such proposals by the Trustees, provided however, that if no written modification, acceptance or rejection of such proposals, or any of them, shall be so delivered by the said Committee within the time herein limited therefor, the Trustees shall be warranted and protected in assuming that all of the proposed loans or investments which have not been specifi-cally specifically modified or rejected as aforesaid, meet with the complete approval of said Executive Committee Committee, or its designated subcommittee.

Approval of Investments. Before obtaining any loan or making any new invest-ment investment or reinvestment of any funds of this Trust, the Trustees shall submit to the Executive Committee of the Company, or its designated subcommittee, a proposal of the terms of any such loan, or a list of any such securities in which it proposes pro- poses to invest such funds and the amount proposed to be invested in each security, and the Trustees shall proceed to act on such loan, to purchase, or refrain from purchasing, such securities in accordance with the acceptance or rejection, in whole or in part, of such proposals by the Executive Committee of the Company, or its designated subcommittee. Acceptance or rejection of such proposalspro- posals, or any modification thereof, or any of them by the said Committee, shall be signified in writing and delivered to the Trustees within thirty (30) days of the submission of such proposals by the Trustees, provided however, that if no written modification, acceptance or rejection of such proposals, or any of them, shall be so delivered by the said Committee within the time herein limited therefor, the Trustees shall be warranted and protected in assuming that all of the proposed loans or investments which have not been specifi-cally specifically modified or rejected as aforesaid, meet with the complete approval of said Executive Committee Committee, or its designated subcommittee.

Approval of Investments. Before making any new invest-ment investment or reinvestment of any funds of this Trust, the Trustees shall submit to the Executive Committee of the Company, Company or its designated subcommittee, a list of such securities in which it proposes to invest such funds and the amount proposed to be invested in each security, security and the Trustees shall proceed to purchase, purchase or refrain from purchasing, such securities in accordance with the acceptance or rejection, in whole or in part, of such proposals by the Executive Committee of the Company, Company or its designated subcommittee. Acceptance or rejection of such proposals, proposals or any of them by the said Committee, shall be signified in writing and delivered to the Trustees within thirty (30) days of the submission of such proposals by the Trustees, provided however, that if no written acceptance or rejection of such proposals, proposals or any of them, shall be so delivered by the said Committee within the time herein limited therefortherefore, the Trustees shall be warranted and protected in assuming that all of the proposed investments which have not been specifi-cally specifically rejected as aforesaid, meet with the complete approval of said Executive Committee or its designated subcommittee.

Approval of Investments. Before making any new invest-invest- ment or reinvestment of any funds of this Trust, the Trustees shall submit to the Executive Committee of the Company, or its designated subcommittee, a list of such securities in which it proposes to invest such funds and the amount proposed to be invested in each security, and the Trustees shall proceed to purchase, or refrain from purchasing, such securities in accordance with the acceptance or rejection, in whole or in part, of such proposals by the Executive Committee of the Company, or its designated subcommittee. Acceptance or rejection of such proposals, or any of them by the said Committee, shall be signified in writing and delivered to the Trustees within thirty (30) days of the submission of such proposals by the Trustees, provided however, that if no written acceptance or rejection of such proposals, or any of them, shall be so delivered by the said Committee within the time herein limited therefor, the Trustees shall be warranted and protected in assuming that all of the proposed investments which have not been specifi-specifi- cally rejected as aforesaid, meet with the complete approval of said Executive Committee or its designated subcommittee.

Approval of Investments. Before obtaining any loan or making any new invest-ment investment or reinvestment of any funds of this Trust, the Trustees shall submit to the Executive Committee of the Company, or its designated subcommittee, a proposal of the terms of any such loan, or a list of any such securities in which it proposes to invest such funds and the amount proposed to be invested in each security, and the Trustees shall proceed to act on such loan, to purchase, or refrain from purchasing, such securities in accordance with the acceptance or rejection, in whole or in part, of such proposals by the Executive Committee of the Company, or its designated subcommittee. Acceptance or rejection of such proposals, or any modification thereof, or any of them by the said Committee, shall be signified in writing and delivered to the Trustees within thirty (30) days of the submission of such proposals by the Trustees, provided however, that if no written modification, acceptance or rejection of such proposals, or any of them, shall be so delivered by the said Committee within the time herein limited therefor, the Trustees shall be warranted and protected in assuming that all of the proposed loans or investments which have not been specifi-cally specifically modified or rejected as aforesaid, meet with the complete approval of said Executive Committee Committee, or its designated subcommittee.