Common use of Direction by Committee Clause in Contracts

Direction by Committee. (a) A direction by the Committee to make a distribution from the Trust shall: (i) be made in writing; (ii) specify the amount of the payment to be distributed (net of the amount sufficient for the Employer to discharge its withholding obligation), the date such payment is to be made, the person to whom payment is to be made, and the address to which the payment is to be sent; (iii) specify the amount determined by the Employer to be sufficient for the Employer to discharge its withholding obligation; and (iv) be deemed to certify to the Trustee that such direction and any payment pursuant thereto are authorized under the terms of the Plan. (b) The Trustee shall be entitled to rely conclusively on the Committee’s certification of its authority to direct a payment without independent investigation. The Trustee shall have no liability to any person with respect to payments made in accordance with the provisions of this Section 4.

Direction by Committee. (a) a. A direction by the Committee to make a distribution from the Trust shall: (i) i. be made in writing; (ii) . specify the amount of the payment to be distributed (net of the amount sufficient for the Employer to discharge its withholding obligation), the date such payment is to be made, the person to whom payment is to be made, and the address to which the payment is to be sent; (iii) . specify the amount determined by the Employer to be sufficient for the Employer to discharge its withholding obligation; and (and iv) . be deemed to certify to the Trustee that such direction and any payment pursuant thereto are authorized under the terms of the Plan. (b) b. The Trustee shall be entitled to rely conclusively on the Committee’s certification of its authority to direct a payment without independent investigation. The Trustee shall have no liability to any person with respect to payments made in accordance with the provisions of this Section 44.3.