Duties of the Trustees. (a) In discharging their duties, the Trustees and the Delaware Tru stee shall:
(i) consult reasonably and cooperate in good faith with ISE Holdings, the Trust Beneficiary, each Controlled National Securities Exchange, as applicable, and the SEC, including in connection with any exercise of the remedies described in ARTICLE IV; and
(ii) (A) in performing their obligations with respect to voting any Trust Shares as described in Article IV, act in the public interests of the mar kets operated by each Controlled National Securities Exchange; (B) in performing their obligations relating to distributions paid to the Trust with respect to Trust Shares and Sales, the duty of the Trust and the Trustees shall be as set forth in the provi so set forth in the first sentence of Section 4.3(a) of this Agreement; and (C) in all other circumstances, act in the best interests of ISE Holdings. In the event of any conflict between the duties of the Trust and the Trustees referred to in clauses (A), (B), and (C) of the immediately preceding sentence, the duties referred to in such clause (A) shall prevail.
(b) The Trustees and the Delaware Trustee need perform only those duties as are specifically set forth in this Agreement and as are contemplated by any other agreement to which the Trustees, the Delaware Trustee or the Trust are a party that was entered into in accordance with the terms of this A greement, and no others and no implied covenants or obligations shall be read into this Agreement against or for the benefit of the Trustees.
(c) The duties and responsibilities of the Trustees and of the Delaware Trustee shall be as provided by this Agreement and the Delaware Act.
(d) The Trustees and the Delaware Trustee may consult with counsel acceptable to ISE Holdings.
(e) In the absence of a Trustee’s or Delaware Trustee’s gross negligence, misconduct or bad faith on its part, such Trustee or Delaware Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon notices, certificates or opinions that by any provision of this Agreement are permitted or required to be furnished to such Trustee or Delaware Trustee; provided, that such notices, certificates or opinions conform to the requirements of this Agreement. A Trustee or Delaware Trustee may rely on any document believed by it to be genuine and to have been signed or presented by the proper Person. Such Trustee or Delaware Trustee need not investigate any fact...
Duties of the Trustees. 8.1 The Trustees shall establish a Beneficiary register in which they shall record the following:
8.1.1 the number of Participation Units Allocated to each Beneficiary as set out in the Allocation Notice;
8.1.2 the Allocation Date in respect of each Beneficiary; and
8.1.3 all distributions of income and/or capital made to Beneficiaries in terms of this Trust Deed.
8.2 The Trustees shall procure that all shares owned by the Trust are registered in the name of the Trust or its nominee.
8.3 The Trustees shall not incur liabilities other than as specifically permitted by this Trust Deed.
8.4 The Trustees shall not, prior to the expiry of the Lock-in Period be entitled to:
8.4.1 Encumber any Trust Shares;
8.4.2 Sell any Trust Shares;
8.4.3 enter into any agreement in respect of any votes attached to any Trust Shares or enter into any derivative transaction in respect of any Trust Shares; or
8.4.4 agree, whether or not subject to any suspensive or resolutive condition, to do any of the foregoing; other than as specifically permitted by this Trust Deed;
8.5 The Trustees shall not make any distribution of capital or income from the assets of this Trust to the Beneficiaries or otherwise in a manner other than that specified in this Trust Deed.
8.6 The Trustees shall make a copy of the Trust Deed available to the Beneficiaries upon request.
8.7 The Trustees shall procure that any employees’ tax as provided for in the Fourth Schedule of the Income Tax Act, 58 of 1962 (as amended), which is payable by Harmony or the Trust in relation to the benefits received by the Beneficiaries in terms of this Trust Deed, is timeously collected by Harmony or the Trust from the relevant Beneficiary and paid to the South African Revenue Service. For the avoidance of doubt, any employees’ tax payable by Harmony or the Trust:
8.7.1 will be deducted from any remuneration payable to the Beneficiary; or
8.7.2 will be withheld from the proceeds of the sale of any Harmony Shares held for the Beneficiary’s benefit which are to be distributed to the Beneficiary following the expiry of the Lock-in Period.
8.8 Each Beneficiary appoints the Trustees as his agent and authorizes the Trustees to dispose of sufficient Trust Shares in accordance with clause 8.7 in order to settle any employees’ tax due.
Duties of the Trustees. The Trustees shall:
5.1 provide FMR with such information pertaining to the Trust as the Investment Manager may reasonably request;
5.2 compensate FMR for its services under this Agreement as set forth in Schedule B attached hereto;
5.3 vote all proxies with respect to the non-mutual fund holdings in the Trust; and
5.4 approve the Guidelines attached as Schedule A hereto as may be revised from time to time in accordance with this Agreement; and
5.5 provide FMR with true and correct copies of the Declaration of Trust, and any and all amendments thereto. FMR agrees to hold such copies confidential and, except as otherwise required by law, not to deliver said copies to any other party, without the prior written consent of the Trustees.
Duties of the Trustees. The Trustees shall be obliged to fulfil the Trust Object as recorded in clause 3 as soon as is reasonably possible, but within the subsistence of the Trust as set out in clause 21 below. marketing and information; establishing and maintaining the capacity for administering medical examinations; establishing and maintaining locations for Claims Lodgement Officers to execute their duties; establishing and maintaining information technology, budgeting and general administration systems. The Trustees shall use their reasonable endeavours to procure that the personnel of the Trust (including the Claims Lodgement Officers, the Accredited Practitioners, the Medical Certification Panel, the Trust Certification Committee, the Payment Administrator, the Medical Reviewing Authority and the Certification Reviewing Authority) and any third party service providers comply with the provisions of this Trust Deed insofar as the provisions are capable of applying to them. Apart from the common law duties which attach to the office of trustee, the Trustees shall be subject to the duties laid down in the Trust Property Control Act, namely, to: ensure that the original of this Trust Deed is filed with the Master in accordance with the provisions of the Trust Property Control Act; refrain from acting as Trustees until they are in possession of a letter of authority from the Master to so act; receive and hold the Trust Fund for the benefit of the Eligible Claimants who are entitled to Benefits; take possession of all documents of title and other documents relating to the affairs of the Trust for safekeeping; ensure that proper books are kept for the affairs of the Trust; keep all assets of the Trust Fund separate from their own personal property and if applicable registered in the name of the Trust so that they may be identified as assets of the Trust Fund; refrain from holding or disposing of any assets of the Trust Fund for their personal benefit, or for the benefit of their estates, and generally to act in a prudent and responsible manner as would be expected from persons who are in charge of the affairs of another person; unless compelled by law or an order of court or for any other practical reasons, refrain from disclosing any records containing the identity of the Lodging Claimants, the Lodging Deceased Individuals or the affairs of the Trust, except as permitted by the provisions of this Trust Deed; while the Trust is in force, take and hold possession of all assets compr...
Duties of the Trustees. If this Agreement and the Plan are terminated, the Trustees will:
(a) make provisions out of the Fund for the payment of expenses incurred up to the date of termination and the expenses incidental to such termination;
(b) arrange for a final audit and report of their transactions and accounts for the purpose of terminating their trusteeship; and
(c) pay the residue of the Fund, if any, as follows:
Duties of the Trustees. (a) In discharging their duties, the Trustees and the Delaware Trustee shall: (i) consult reasonably and cooperate in good faith with ISE Holdings, the Trust Beneficiary, each Controlled National Securities Exchange, as applicable, and the SEC, including in connection with any exercise of the remedies described in ARTICLE IV; and
Duties of the Trustees. In addition to the duties imposed by laws of the State of New York and City of New York, and the duties stated elsewhere in this agreement, the Trustees shall have the duty to:
a. Enter into any legal agreements with legal counsel, including agreements relating to compensation, as may be necessary to effectuate the purposes of this Trust Agreement;
b. Transfer to the Trust Property all property, monies, and assets payable or donated to the Trust which the Trustees may hereafter come to possess, unless the Trustees in their discretion determine that such property, monies, and assets shall be returned to their source;
c. Keep Trust Property separate from any of the Trustees’ personal funds or any other funds;
d. Operate as a fiduciary in relation to the Trust Property and the trust purpose as stated in this Trust Agreement;
e. File all reports required under Chapter 11 of Title 3 of the New York City Administrative Code, and
f. Comply with all provisions of Chapter 11 of Title 3 of the New York City Administrative Code and Rules of the New York City Conflicts of Interest Board.
Duties of the Trustees. In addition to any other duties conferred upon them in this Trust Deed, the Trustees shall – manage the affairs of the Trust; appoint members of Committees; hold meetings of the Board of Trustees for the proper and efficient management of the Trust, and also to regulate the meetings of the members. hold meetings of the members for the proper and efficient dissemination of the affairs of the Trust to the members and also to appoint Trustees.
Duties of the Trustees. It shall be the duty of the Trustees to faithfully and diligently administer this Trust as would diligent and prudent persons acting in their own behalf; to exercise prudence and economy in the business of the Trust; to act in good faith, and only for the best interests of the Trust; and, at the termination of the Trust, to render and to deliver all the properties and funds of the Trust. The Trustees may be removed at any time by the Trustor by written notice to the Trustees. The Trustees shall not have the power to remove a Trustee from office. The Trustees may resign by providing at least sixty (60) days prior written notice to the Trustor. Until the accounts of a Trustee are settled and a Trustee is discharged, a Trustee shall continue to have all the powers and discretions granted to it under this agreement or conferred by law. In the event of any vacancy of the Trustees occurring by death, disability, removal, resignation, or for any other reason, the Trustor may by written instrument appoint a successor Trustee. The successor Trustee, on executing a written acceptance of the trusteeship and on the settlement of the accounts and discharge of the prior Trustee, shall be vested, without further act on the part of anyone, with all the estate, title, powers, duties, immunities, and discretions granted to the original Trustee. In the event of the death, disability, removal, resignation of Xxxxx Xxxxxx, M.D., following which there are no remaining Trustees that are licensed as a physician under Chapter 630 of the Nevada Revised Statutes (or the equivalent successor thereto), the Trustor will appoint a replacement Physician Trustee who must be licensed as a physician under Chapter 630 of the Nevada Revised Statutes (or the equivalent successor thereto) within ninety (90) days. No Trustee, agent, or other representative appointed pursuant to any provision of this Trust instrument shall be liable for any act or default on the part of any co-trustee, agent, attorney, employee, or representative. No Trustee licensed as a physician will be liable for a violation of Chapter 89 or Chapter 630 of the Nevada Revised Statutes (or the equivalent successor thereto). No Trustee shall be liable for any negligence or error in judgment, or for any act or omission, except for his or her own willful breach of trust. No Trustee shall be required to give any bond or surety to secure the performance of the Trust. Every act or thing done or omitted, and every power exercised or o...
Duties of the Trustees. 9.1. In addition to any duties imposed upon them under law enforced from time to time :
9.2. The Trustees shall take and maintain written minutes of all their meetings. An official minute book shall be retained at the Trust's principal office.
9.3. The Trustees shall, at the expense of the Trust, keep proper books of account. The books of account together with all other papers and documents connected with or relating to the Trust must be kept at the Trust's principal office unless otherwise agreed upon by the Trustees.
9.4. The financial year of the Trust shall terminate on the last day of February in each and every year, or such other date as may be determined by the Board of Trustees.
9.5. Annual financial statements shall be prepared for each financial year, in accordance with generally accepted accounting principles, and shall reflect all assets, liabilities, income and expenditure and the financial position of the Trust. The annual financial statements must be available within six (6) months of the end of the financial year, to which they relate.
9.6. Copies of the annual financial statements shall be made available to the Founder and major donors. The annual financial statements shall be audited in accordance with generally accepted accounting practice. The first annual financial statements of the Trust shall be prepared for the end of the financial year following the date of the Master's Letters of Authority authorising the first Trustees to act as Trustees in terms of the Trust Property Control Act, or if that date is within three (3) months of the date of the Letters of Authority, the same date the next year. All monies received on behalf of the Trust shall be paid by the Trustees into a banking account or other account maintained by the Trustees at a registered commercial bank or building society or other financial institution in terms of the Financial Institutions (Investment of Funds) Xxx 0000 and all payments made on behalf of the Trust and all receipts of the Trust shall be transacted through such account.
