Common use of Fiduciary Powers Clause in Contracts

Fiduciary Powers. Each of the Subsidiaries of Acquiror has properly administered all accounts for which it acts as fiduciary, including accounts for which it serves as trustee, agent, custodian or investment advisor, in accordance with the terms of the governing documents and applicable state and federal law and regulations and common law where the failure to so administer such accounts would reasonably be expected to have a Material Adverse Effect. None of the Subsidiaries of Acquiror or any of its respective directors, officers or employees has committed any breach of trust with respect to any such fiduciary account, and the accountings for each such fiduciary account are true and correct in all material respects and accurately reflect the assets of such fiduciary account, where any such failures or inaccuracies would reasonably be expected to have a Material Adverse Effect.

Fiduciary Powers. Each of the Subsidiaries of Acquiror Heritage has properly administered all accounts for which it acts as fiduciary, including accounts for which it serves as trustee, agent, custodian or investment advisor, in accordance with the terms of the governing documents and applicable state and federal law and regulations and common law where the failure to so administer such accounts would reasonably be expected to have a Material Adverse Effect. None of the Subsidiaries of Acquiror Heritage or any of its respective directors, officers or employees has committed any breach of trust with respect to any such fiduciary account, and the accountings for each such fiduciary account are true and correct in all material respects and accurately reflect the assets of such fiduciary account, where any such failures or inaccuracies would reasonably be expected to have a Material Adverse Effect.