Common use of Delegation by Trustee Clause in Contracts

Delegation by Trustee. The Holder expressly authorizes the Trustee to delegate to the Agent the performance of the following duties of the Trustee: (a) receiving Contributions; (b) receiving transfers of Property; (c) investing and reinvesting the Property as directed by the Holder; (d) registering and holding the Property in the Trustee’s name, the Agent’s name, in the name of their respective nominees or in bearer form as determined by the Agent from time to time; (e) maintaining records, including information concerning the Survivor and the designation of beneficiaries, where applicable; (f) providing to the Holder statements of account at least annually; (g) preparing all government filings and forms; (h) making Distributions pursuant to the provisions hereof; and (i) such other duties and obligations of the Trustee as the Trustee in its sole discretion may from time to time determine. The Holder acknowledges that, to the extent the Trustee delegates any such duties, the Trustee shall thereby be discharged from performing such duties, subject to paragraph 3.

Delegation by Trustee. The Holder expressly authorizes the Trustee to delegate to the Agent the performance of the following duties of the Trustee: (a) receiving Contributionscontributions; (b) receiving transfers of Property; (c) investing and reinvesting the Property as directed by the Holder; (d) registering and holding the Property in the Trustee’s name, the Agent’s name, in the name of their respective nominees or in bearer form as determined by the Agent from time to time; (e) maintaining records, including information concerning the Survivor and the designation of beneficiaries, where applicable; (f) providing to the Holder statements of account at least annually; (g) preparing all government filings and forms; (h) making Distributions pursuant to the provisions hereof; and (i) such other duties and obligations of the Trustee as the Trustee in its sole discretion may from time to time determine. The Holder acknowledges that, to the extent the Trustee delegates any such duties, the Trustee shall thereby be discharged from performing such duties, subject to paragraph 33 [Appointment of Agent].