Directed Trustee. Option 2: Discretionary Trustee.
Directed Trustee. A Trustee is a Directed Trustee to the extent that the Trustee’s investment powers are subject to the direction of another person. See Section 12.2(b).
Directed Trustee. A Trustee is a Directed Trustee with respect to the investment of Plan assets to the extent the Trustee is subject to the direction of the Plan Administrator, the Employer, a properly appointed Investment Manager, a Named Fiduciary, or Plan Participant. To the extent the Trustee is a Directed Trustee, the Trustee does not have any discretionary authority with respect to the investment of Plan assets. In addition, the Trustee is not responsible for the propriety of any directed investment made pursuant to this Section and shall not be required to consult or advise the Employer regarding the investment quality of any directed investment held under the Plan. The Trustee shall be advised in writing regarding the retention of investment powers by the Employer or the appointment of an Investment Manager or other Named Fiduciary with power to direct the investment of Plan assets. Any such delegation of investment powers will remain in force until such delegation is revoked or amended in writing. The Employer is deemed to have retained investment powers under this subsection to the extent the Employer directs the investment of Participant Accounts for which affirmative investment direction has not been received pursuant to Section 13.5(c). The Employer is a Named Fiduciary for investment purposes if the Employer directs investments pursuant to this subsection. Any investment direction shall be made in writing by the Employer, Investment Manager, or Named Fiduciary, as applicable. A Directed Trustee must act solely in accordance with the direction of the Plan Administrator, the Employer, any employees or agents of the Employer, a properly appointed Investment Manager or other fiduciary of the Plan, a Named Fiduciary, or Plan Participants. (See Section 13.5(c) for a discussion of the Trustee’s responsibilities with regard to Participant directed investments.) The Employer may direct the Trustee to invest in any media in which the Trustee may invest, as described in Section 12.4. However, the Employer may not borrow from the Trust or pledge any of the assets of the Trust as security for a loan to itself; buy property or assets from or sell property or assets to the Trust; charge any fee for services rendered to the Trust; or receive any services from the Trust on a preferential basis.
Directed Trustee. The corporate Trustee is only permitted to invest the assets of the Plan as directed by the Administrator, by the Employer, by an Investment Manager, by another Named Fiduciary < o or by a Participant in accordance with Section 16.3 of the Adoption Agreement with regard to Participant directed investments >.
Directed Trustee. The parties expressly acknowledge and agree that the Trustee is a directed trustee. In the management and control of the Trust Assets, the Trustee shall be subject to the direction of the Employer, Plan Administrator, Participants, Beneficiaries or Alternate Payees in the Plan and, to the extent applicable under the terms of this Agreement, the directions of Investment Managers. The Trustee shall not make any investment review of, consider the propriety of holding or selling, or vote any assets held in the Trust except as directed by the Plan Administrator, Investment Manager, Employer, Participant, Beneficiaries, Alternate Payees or Employer. The Trustee shall have no responsibility to review or make recommendations regarding investments made at the direction of the Employer, Plan Administrator, Participant, Beneficiaries, Alternate Payees or an Investment Manager. The Employer, Plan Administrator, Investment Manager, Participants, Beneficiaries, and Alternate Payees shall not issue any directions to the Trustee that are in violation of the terms of the Plan or this Agreement. The Participants, Beneficiaries and Alternate Payees may exercise direction to the Trustee only through the Recordkeeper, provided that if the Plan permits a Participant, Beneficiary or Alternate Payee to direct investments through a self-directed Brokerage Account, each such self-directed Brokerage Account shall be opened in the name of the Trustee with a Broker for the benefit of each affected Participant, Beneficiary or Alternate Payee. The Trustee shall have and exercise authority and control over such Brokerage Account, subject always to the terms of the Plan and to authorized directions from the Plan Administrator, Investment Manager, Participant, Beneficiary, Alternate Payee or Employer. Subject to the foregoing, the parties agree that Participants, Beneficiaries or Alternate Payees may relay trading instructions directly to the Broker.
Directed Trustee. The Trustee shall be a directed trustee. The Trustee shall have no discretion or authority with respect to the investment of the Trust Fund and shall act solely as a directed trustee of the funds contributed to the Trust Fund.
Directed Trustee. The Trustee does not have any of the investment responsibilities normally or statutorily incident to the office of Trustee. Rather, the Trustee acts solely as custodian of the Trust Fund and has only those powers and responsibilities that are necessary to enable it to perform its custodial functions. Except as otherwise provided by ERISA, the Trustee:
Directed Trustee. The Trustee that is designated as the Directed Trustee in the Adoption Agreement. The Directed Trustee shall be responsible for investing the assets of the Plan and perform the responsibilities of the Trustee set forth in the Plan in accordance with specific instructions provided by the Employer or the Plan Administrator (or Participant or Beneficiary) in accordance with instructions (either in writing or in any other form permitted by rules promulgated by the IRS or DOL) from one of the foregoing.
Directed Trustee. Notwithstanding any conflicting provisions of the Trust Agreement, FBTS will, unless and until otherwise agreed to in writing between the Company and FBTS, have no discretionary investment responsibility with respect to the NQSRP Trust. It is the intent of the Parties that FBTS be a directed trustee, and all discretionary investment responsibility will be exercised by the Company, pursuant to the provisions of Sections 7(B) and (C) of the Trust Agreement.
Directed Trustee. The Trustee shall hold the Trust Fund, without distinction between principal and income, as a nondiscretionary trustee pursuant to the terms of this Trust Agreement. Assets of the Trust may, absent direction from the Named Investment Fiduciary (as defined in Section 2.1) to the contrary, be held in an account maintained with an affiliate of the Trustee. Except as required by ERISA, the Trustee shall invest the Trust Fund as directed by the Named Investment Fiduciary, as defined herein, an Investment Manager, as defined herein, or a Plan participant or beneficiary, as the case may be, and the Trustee shall have no discretionary control over, nor any other discretion regarding, the investment or reinvestment of any asset of the Trust Fund.
