Common use of DUTIES OF THE TRUSTEES Clause in Contracts

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. The Trustees shall be obliged to develop an annual financial and operational plan to accomplish the Trust Object, including but not limited to: marketing and information; prioritising locating and medical examination of potential Eligible Claimants; 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 comprising the Trust Fund from time to time, including title deeds and other documents and to ensure their preservation and safe keeping for the duration of the Trust; and exercise the provisions of clause 28 in respect of a Founder that defaults in its payment obligations to the Trust.

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. SECTION NINE REMOVAL, RESIGNATION, AND REPLACEMENT OF THE TRUSTEES The Trustees shall may be obliged removed at any time by the Trustor by written notice 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 belowTrustees. The Trustees shall be obliged not have the power to develop an annual financial and operational plan to accomplish the Trust Object, including but not limited to: marketing and information; prioritising locating and medical examination of potential Eligible Claimants; 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 systemsremove 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 use their reasonable endeavours continue to procure 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 personnel 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. SECTION TEN LIABILITY OF THE TRUSTEES 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 obligation incurred by the Trustees or any of them in the administration of the Trust (including or in connection with any business, property, or concern of the Claims Lodgement OfficersTrust, the Accredited Practitionerswhether ostensibly in their own names or in capacity as Trustee, the Medical Certification Panelshall be done, the Trust Certification Committeeomitted, the Payment Administratorexercised, the Medical Reviewing Authority or incurred by them as Trustees and the Certification Reviewing Authority) and any third party service providers comply not as individuals. Every person contracting or dealing with the provisions Trustees or having any debt, claim, or judgment against them or any of this Trust Deed insofar as the provisions are capable of applying to them. Apart from the common law duties which attach them shall look only 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 funds 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 property of the Trust for safekeeping; ensure that proper books are kept payment or satisfaction. No Trustee shall ever be personally liable for or on account of any contract, debt, tort, claim, damage, judgment, or decree arising out of, or preservation of, the affairs Trust estate or the conduct of any business 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 comprising the Trust Fund from time to time, including title deeds and other documents and to ensure their preservation and safe keeping for the duration of the Trust; and exercise the provisions of clause 28 in respect of a Founder that defaults in its payment obligations to the Trust.. SECTION ELEVEN

DUTIES OF THE TRUSTEES. The Trustees Trustee prior to the occurrence of an Event of Default and after the curing of all Events of Default that may have occurred, shall be obliged undertake to fulfil perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred and remains uncured, the Trust Object as recorded in clause 3 as soon as is reasonably possible, but within the subsistence Trustee shall exercise such of the Trust rights and powers vested in it by this Agreement and use the same degree of care and skill in their exercise as set out a prudent person would exercise or use under the circumstances in clause 21 belowthe conduct of such person's own affairs. The Trustees In case an Event of Default or other default by the Servicer or the Depositor hereunder shall occur and be obliged to develop an annual financial and operational plan to accomplish continuing, the Trust ObjectTrustee, including but not limited to: marketing and information; prioritising locating and medical examination of potential Eligible Claimants; establishing and maintaining shall, at 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 written direction of the Trust (including majority of the Claims Lodgement OfficersCertificateholders, the Accredited Practitionersor may, the Medical Certification Panel, the Trust Certification Committee, the Payment Administrator, the Medical Reviewing Authority proceed to protect and enforce its rights and the Certification Reviewing Authority) and rights of the Certificateholders under this Agreement by a suit, action or proceeding in equity or at law or otherwise, whether for the specific performance of any third party service providers comply with covenant or agreement contained in this agreement or in aid of the provisions execution of any power granted in this Trust Deed insofar Agreement or for the enforcement of any other legal, equitable or other remedy, as the provisions are capable of applying to them. Apart from the common law duties which attach to the office of trusteeTrustee, the Trustees shall be being advised by counsel, and subject to the duties laid down in foregoing, shall deem most effectual to protect and enforce any of the Trust Property Control Actrights of the Trustee and the Certificateholders. The Trustee, namelyupon receipt of all resolutions, to: ensure certificates, statements, opinions, reports, documents, orders or other instruments furnished to the Trustee that the original are specifically required to be furnished pursuant to any provision 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 Agreement shall examine them to determine whether 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 conform on their face -91- to the affairs requirements of this Agreement. If any such instrument is found not to conform on its face to the Trust for safekeeping; ensure that proper books are kept for requirements of this Agreement in a material manner, the affairs Trustee shall notify the person providing such Agreement of the Trust; keep all assets of the Trust Fund separate from their own personal property such non-conformance, and if applicable registered the instrument is not corrected to the its satisfaction, the Trustee will provide notice thereof to the Certificateholders and take such further action as directed by the Certificateholders. No provision of this Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act or its own misconduct, its negligent failure to perform its obligations 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 benefitcompliance with this Agreement, or for the benefit of their estates, and generally to act in a prudent and responsible manner as any liability that would be expected from persons who are in charge imposed by reason of the affairs of another personits willful misfeasance or bad faith; unless compelled by law or an order of court or for any other practical reasonsprovided, refrain from disclosing any records containing the identity of the Lodging Claimantshowever, 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 comprising the Trust Fund from time to time, including title deeds and other documents and to ensure their preservation and safe keeping for the duration of the Trust; and exercise the provisions of clause 28 in respect of a Founder that defaults in its payment obligations to the Trust.that: