Division of Authority Sample Clauses

Division of Authority. Except for the express obligations and duties set forth in Section 5.2, the Independent Committee shall have no other authority with respect to the Trust, including for the avoidance of doubt, any obligation or duty to choose or supervise the Manager or any officers, employees or other persons who may manage the business and affairs of the Trust. For the avoidance of doubt, the Manager shall have all other rights, duties and responsibilities to manage and operate the Trust pursuant to Sections 2.2 and 4.2. Notwithstanding anything contrary in this Trust Agreement, no Independent Committee Member shall perform any functions as a commodity pool operator with respect to the Trust. Independent Committee Members shall perform only those functions specifically required of the Independent Committee Members in their capacity as the audit committee pursuant to Section 5.2(a) hereto, as required under the Listing Standards.
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Division of Authority. Except for the express obligations and duties set forth in Section 5.2, the Board of Trustees shall have no other authority with respect to the Trust, including for the avoidance of doubt, any obligation or duty to choose or supervise the Manager or any officers, employees or other persons who may manage the business and affairs of the Trust. For the avoidance of doubt, the Manager shall have all other rights, duties and responsibilities to manage and operate the Trust, including: (a) all authority, power and rights necessary or advisable to manage the Trust; (b) any duties to be performed in connection with the Trust as a commodity pool operator or a commodity trading advisor pursuant to the CEA; (c) selection and ongoing monitoring of investment advisers, commodity trading advisors and other agents of the Trust; (d) the selection of underwriters for the initial public offering of Shares in the Trust; (e) the marketing of Shares and solicitation of investors; (f) the management and supervision of the Trust’s activities relating to commodity interests; (g) the engagement of service providers to the Trust (except the Trust’s registered public accounting firm that must be retained by the Audit Committee pursuant to Section 5.2(a) hereto, as required under the Listing Standards); (h) the provision, through itself or its agents, of clerical, bookkeeping, transfer agency, custodial and other administrative services on behalf of the Trust; and (i) all other authority, power and rights necessary or advisable to otherwise effectuate and carry out the Trust’s purposes, business and objectives. Notwithstanding anything contrary in this Trust Agreement, no Board Trustee shall perform any functions as a commodity pool operator with respect to the Trust, except those functions specifically required of (x) the Board Trustees who compose the Audit Committee pursuant to Section 5.2(a) hereto, as required under the Listing Standards, and (y) as may be required to effect the termination of the Manager as the Trust’s commodity pool operator pursuant to Section 5.2(d) hereto.
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Related to Division of Authority

  • Delegation of Authority The General Partner may delegate any or all of its powers, rights and obligations hereunder, and may appoint, employ, contract or otherwise deal with any Person for the transaction of the business of the Partnership, which Person may, under supervision of the General Partner, perform any acts or services for the Partnership as the General Partner may approve.

  • Termination of Authority Immediately upon the Executive terminating or being terminated from his employment with the Company for any reason, notwithstanding anything else appearing in this Agreement or otherwise, the Executive will stop serving the functions of his terminated or expired position(s) and shall be without any of the authority or responsibility for such position(s).

  • Limitation of Authority No person is authorized to make any representations concerning the Funds or the Shares except those contained in the Prospectus of each Fund and in such printed information as the Distributor may subsequently prepare. No person is authorized to distribute any sales material relating to any Fund without the prior written approval of the Distributor.

  • Reservation of Authority Nothing in this subpart shall limit the authority of the Secretary to take action to enforce conditions or violations of law, including actions necessary to prevent evasions of this subpart.

  • Representation of Authority Each individual executing this Agreement on behalf of a party hereto hereby represents and warrants that he or she is, on the date he or she signs this Agreement, duly authorized by all necessary and appropriate action to execute this Agreement on behalf of such party and does so with full legal authority.

  • Evidence of Authority The Custodian shall be protected in acting upon any instructions, notice, request, consent, certificate or other instrument or paper believed by it to be genuine and to have been properly executed by or on behalf of the Fund. The Custodian may receive and accept a certified copy of a vote of the Board of Directors of the Fund as conclusive evidence (a) of the authority of any person to act in accordance with such vote or (b) of any determination or of any action by the Board of Directors pursuant to the Articles of Incorporation as described in such vote, and such vote may be considered as in full force and effect until receipt by the Custodian of written notice to the contrary.

  • Scope of Authority Committee meetings will be used for communications between the parties, to share information and to address concerns. The committee will have no authority to conduct any negotiations or modify any provision of this Agreement. The committee’s activities and discussions will not be subject to the grievance procedure in Article 30.

  • Grant of Authority As of the Effective Date, GlobalSign hereby grants to Subscriber the authority for the term set forth in Section 7 to use the enclosed Digital Certificate to create Digital Signatures or to use the Digital Certificate in conjunction with Private Key or Public Key operations.

  • Lack of Authority No Member, other than the Manager or a duly appointed Officer, in each case in its capacity as such, has the authority or power to act for or on behalf of the Company, to do any act that would be binding on the Company or to make any expenditure on behalf of the Company. The Members hereby consent to the exercise by the Manager of the powers conferred on them by Law and this Agreement.

  • Warranty of Authority Each person signing this Amendment warrants that he or she is duly authorized to do so and to bind the respective party.

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