Common use of Failure to Direct Clause in Contracts

Failure to Direct. In the event that an appointed Investment Manager shall fail to direct the Trustee with respect to investment of all or any portion of the cash held in an Investment Fund under its management, the Trustee shall invest such cash in accordance with the directions of the Employer, as maintained by the Recordkeeper.

Failure to Direct. In the event that an appointed Investment Manager shall fail to direct provide direction the Trustee Board of Trustees with respect to investment of all or any portion of the cash held in an Investment Fund under its management, the Trustee Board of Trustees shall invest such cash only when appropriate, and in accordance with suitable fashion, to the directions best interest of the Employer, as maintained by the RecordkeeperTrust.