DUTIES AND INDEMNIFICATION. (a) The Trustee shall have the authority and discretion to manage and govern the Fund to the extent provided in this instrument, but does not guarantee the Fund in any manner against investment loss or depreciation in asset value, or guarantee the adequacy of the Fund to meet and discharge all or any liabilities of the Plan. (b) The Trustee shall not be liable for the making, retention or sale of any investment or reinvestment made by it, as herein provided, or for any loss to, or diminution of the Fund, or for any other loss or damage which may result from the discharge of its duties hereunder except to the extent it is judicially determined that the Trustee has failed to exercise the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character with like aims. (c) The Employer warrants that all directions issued to the Trustee by it or the Plan Administrator will be in accordance with the terms of the Plan and not contrary to the provisions of the Employee Retirement Income Security Act of 1974 and regulations issued thereunder. (d) The Trustee shall not be answerable for any action taken pursuant to any direction, consent, certificate, or other paper or document on the belief that the same is genuine and signed by the proper person. All directions by the Employer, Participant or the Plan Administrator shall be given in a manner and form prescribed by the Trustee and approved by the Service Company. The Employer shall deliver to the Trustee certificates evidencing the individual or individuals authorized to act as set forth in the Adoption Agreement or as the Employer may subsequently inform the Trustee in writing and shall deliver to the Trustee specimens of their signatures. (e) The duties and obligations of the Trustee shall be limited to those expressly imposed upon it by this instrument or subsequently agreed upon by the parties. Responsibility for administrative duties required under the Plan or applicable law not expressly imposed upon or agreed to by the Trustee shall rest solely with the Employer. (f) The Trustee shall be indemnified and saved harmless by the Employer from and against any and all liability to which the Trustee may be subjected, including all expenses reasonably incurred in its defense, for any action or failure to act resulting from compliance with the instructions of the Employer, the employees or agents of the Employer, the Plan Administrator, or any other fiduciary to the Plan, and for any liability arising from the actions or non-actions of any predecessor Trustee or fiduciary or other fiduciaries of the Plan. (g) The Trustee shall not be responsible in any way for the application of any payments it is directed to make or for the adequacy of the Fund to meet and discharge any and all liabilities under the Plan. (h) With respect to non-mutual fund investments, the Trustee in administering the Trust Fund is authorized and empowered to exercise generally, any of the powers which a trustee might customarily exercise in connection with investments held by the Trust Fund and to do all other acts that the Trustee may deem necessary or proper to carry out any of the powers and duties set forth in this Article XI.
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Samples: 401(k) Plan Document (East West Bancorp Inc), Non Standardized Adoption Agreement (Princeton Review Inc), Adoption Agreement (Shared Technologies Cellular Inc)
DUTIES AND INDEMNIFICATION. (aA) The Trustee shall have the authority and discretion to manage and govern the Fund to the extent provided in this instrument, but does not guarantee the Fund in any manner against investment loss or depreciation in asset value, or guarantee the adequacy of the Fund to meet and discharge all or any liabilities of the Plan.
(bB) The Trustee shall not be liable for the making, retention or sale of any investment or reinvestment made by it, as herein provided, or for any loss to, or diminution of the Fund, or for any other loss or damage which may result from the discharge of its duties hereunder hereunder, except to the extent it is judicially determined that the Trustee has failed to exercise the care, skill, prudence and diligence under the circumstances then prevailing that which a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character with like aims.
(cC) The Employer warrants that all directions issued to the Trustee by it or the Plan Administrator will be in accordance with the terms of the Plan and not contrary to the provisions of the Employee Retirement Income Security Act of 1974 and regulations issued thereunder.
(dD) The Trustee shall not be answerable for any action taken pursuant to any direction, consent, certificate, or other paper or document on the belief that the same is genuine and signed by the proper person. All directions by the Employer, Participant or the Plan Administrator shall be given in a manner and form prescribed by the Trustee and approved by the Service Company. The Employer shall deliver to the Trustee trustee certificates evidencing the individual or individuals authorized to act as set forth in the Adoption 103 Agreement or as the Employer may subsequently inform the Trustee in writing and shall deliver to the Trustee specimens of their signatures.
(eE) The duties and obligations of the Trustee shall be limited to those expressly imposed upon it by this instrument or subsequently agreed upon by the parties. Responsibility for administrative duties required under the Plan or applicable law not expressly imposed upon or agreed to by the Trustee shall rest solely with the Employer.
(fF) The Trustee shall be indemnified and saved harmless by the Employer from and against any and all liability to which the Trustee may be subjected, including all expenses reasonably incurred in its defense, for any action or failure to act resulting from compliance with the instructions of the Employer, the employees or agents of the Employer, the Plan Administrator, or any other fiduciary to the Plan, and for any liability arising from the actions or non-non actions of any predecessor Trustee or fiduciary or other fiduciaries of the Plan.
(gG) The Trustee shall not be responsible in any way for the application of any payments it is directed to make or for the adequacy of the Fund to meet and discharge any and all liabilities under the Plan.
(hH) With respect to non-mutual fund investments, the Trustee in administering the Trust Fund is authorized and empowered to exercise generally, generally any of the powers which a trustee might customarily exercise in connection with investments held by the Trust Fund and to do all other acts that the Trustee may deem necessary or proper to carry out any of the powers and duties set forth in this Article XI.
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DUTIES AND INDEMNIFICATION. (a) The Trustee RAVEN MOON and GORDON acknowledge that Escrow Agent is acting solely at their requesx xxx for their convenience. RAVEN MOON and GORDON shall have jointly and severally indemnify and hold Escrow Agent haxxxxxx from and against any and all costs, claims, and expenses, including reasonable attorneys' fees, incurred in connection with the authority and discretion performance of Escrow Agent's duties hereunder, except with respect to manage and govern the Fund to the extent provided actions or omissions taken or suffered by Escrow Agent in bad faith, in willful disregard of this instrument, but does not guarantee the Fund in any manner against investment loss or depreciation in asset valueAgreement, or guarantee the adequacy of the Fund to meet and discharge all or any liabilities of the Planinvolving gross negligence.
(b) The Trustee shall Escrow Agent is not a party to and is not bound by any agreement which may be liable for the making, retention evidenced by or sale of any investment or reinvestment made by it, as herein provided, or for any loss to, or diminution arise out of the Fund, or for any foregoing instructions other loss or damage which may result from the discharge of its duties hereunder except to the extent it is judicially determined that the Trustee has failed to exercise the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character with like aimsthan as expressly set forth therein.
(c) The Employer warrants that all directions issued to the Trustee by it or the Plan Administrator will Escrow Agent shall be protected in accordance with the terms of the Plan and not contrary to the provisions of the Employee Retirement Income Security Act of 1974 and regulations issued thereunder.
(d) The Trustee shall not be answerable for acting upon any action taken pursuant to any directionwritten notice, request, waiver, consent, certificatereceipt, or other paper or document on the belief that the same is or signature thereon which Escrow Agent in good faith believes to be genuine and which purports to be signed by the proper person. All directions by the Employer, Participant GORDON or the Plan Administrator shall be given in a manner and form prescribed by the Trustee and approved by the Service Company. The Employer shall deliver to the Trustee certificates evidencing the individual or individuals authorized to act as set forth in the Adoption Agreement or as the Employer may subsequently inform the Trustee in writing and shall deliver to the Trustee specimens any officer of their signaturesRAVEN MOON.
(ed) The In the event Escxxx Xxent shall be uncertain as to his duties and obligations or rights hereunder or shall receive written instructions from RAVEN MOON with respect to this Agreement which, in his sole opinion, are in conflict with any of the Trustee provisions of this Agreement, Escrow Agent shall be limited entitled to those expressly imposed upon it by this instrument or subsequently agreed upon by the parties. Responsibility for administrative duties required under the Plan or applicable law not expressly imposed upon or agreed to by the Trustee shall rest solely with the Employer.
(f) The Trustee refrain from taking any proposed action until, at his option, he shall be indemnified in writing by RAVEN MOON and saved harmless by GORDON or either of them or shall have received an order of a Court; xxxxxxed, however, that he may, in such event, deposit such documents as may be the Employer from subject matter of such proposed action with an applicable court of competent jurisdiction and, upon giving notice to the other parties hereto of the same, shall be relieved and against discharged of any further obligation and responsibilities with respect thereto. Escrow Agent shall be a fiduciary to RAVEN MOON with respect to the issued shares and all liability to which the Trustee may be subjected, including all expenses reasonably incurred in its defense, for any action or failure to act resulting from compliance with the instructions funds delivered upon exercise by GORDON of the Employer, the employees or agents of the Employer, the Plan Administrator, or any other fiduciary to the Plan, and for any liability arising from the actions or non-actions of any predecessor Trustee or fiduciary or other fiduciaries of the Planoptions.
(g) The Trustee shall not be responsible in any way for the application of any payments it is directed to make or for the adequacy of the Fund to meet and discharge any and all liabilities under the Plan.
(h) With respect to non-mutual fund investments, the Trustee in administering the Trust Fund is authorized and empowered to exercise generally, any of the powers which a trustee might customarily exercise in connection with investments held by the Trust Fund and to do all other acts that the Trustee may deem necessary or proper to carry out any of the powers and duties set forth in this Article XI.
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DUTIES AND INDEMNIFICATION. (a) The Trustee shall have the authority and discretion to manage and govern the Fund to the extent provided in this instrument, but does not guarantee the Fund in any manner against investment loss or depreciation in asset value, or guarantee the adequacy of the Fund to meet and discharge all or any liabilities of the Plan.
(b) The Trustee shall not be liable for the making, retention or sale of any investment or reinvestment made by it, as herein provided, or for any loss to, or diminution of the Fund, or for any other loss or damage which may result from the discharge of its duties hereunder except to the extent it is judicially determined that the tile Trustee has failed to exercise the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character with like aims.
(c) The Employer warrants that all directions issued to the Trustee by it or the Plan Administrator will be in accordance with the terms of the Plan and not contrary to the provisions of the Employee Retirement Income Security Act of 1974 and regulations issued thereunder.
(d) The Trustee shall not be answerable for any action taken pursuant to any direction, consent, certificate, or other paper or document on the belief that the same is genuine and signed by the proper person. All directions by the Employer, Participant or the Plan Administrator shall be given in a manner and form prescribed by the Trustee and approved by the Service Company. The Employer shall deliver to the Trustee certificates evidencing the individual or individuals authorized to act as set forth in the Adoption Agreement or as the Employer may subsequently inform the Trustee in writing and shall deliver to the Trustee specimens of their signatures.
(e) The duties and obligations of the Trustee shall be limited to those expressly imposed upon it by this instrument or subsequently agreed upon by the parties. Responsibility for administrative duties required under the Plan or applicable law not expressly imposed upon or agreed to by the Trustee shall rest solely with the Employer.
(f) The Trustee shall be indemnified and saved harmless by the Employer from and against any and all liability to which the Trustee may be subjected, including all expenses reasonably incurred in its defense, for any action or failure to act resulting from compliance with the instructions of the Employer, the employees or agents of the Employer, the Plan Administrator, or any other fiduciary to the Plan, and for any liability arising from the actions or non-actions of any predecessor Trustee or fiduciary or other fiduciaries of the Plan.
(g) The Trustee shall not be responsible in any way for the application of any payments it is directed to make or for the adequacy of the Fund to meet and discharge any and all liabilities under the Plan.
(h) With respect to non-mutual fund investments, the Trustee in administering the Trust Fund is authorized and empowered to exercise generally, any of the powers which a trustee might customarily exercise in connection with investments held by the Trust Fund and to do all other acts that the Trustee may deem necessary or proper to carry out any of the powers and duties set forth in this Article XI.
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