Fiduciary Standard. The Trustee shall act with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims, provided, however, that the Trustee shall incur no liability to any person for any action taken pursuant to a direction, request or approval given by the Company which is contemplated by, and in conformity with, the terms of the Plan(s) and this Trust and is given in writing by the Company or in such other manner prescribed by the Trustee. The Trustee shall also incur no liability to any person for any failure to act in the absence of direction, request or approval from the Company which is contemplated by, and in conformity with, the terms of this Trust. In the event of a dispute between the Company and a party, the Trustee may apply to a court of competent jurisdiction to resolve the dispute.
Fiduciary Standard. In discharging their duties as managers (within the meaning of the Act) of the Company, the Managers shall be subject to fiduciary duties analogous to the duties imposed upon directors of a corporation under the Delaware General Corporation Law and applicable Delaware Law as applied to Delaware corporations in addition to exercising good faith and fair dealing in carrying out their several duties and obligations provided in this Agreement and in dealings with respect to the Company and its affairs. For the avoidance of doubt, such fiduciary duties shall run in favor of the Company and its Members, and such duties shall include, without limitation, the duty of loyalty and the duty of care. Whenever in this Agreement the Managers are permitted or required to act in their discretion, the Managers shall nevertheless act under such standards imposed by this Section 7.3(a), subject to the fiduciary safe harbor provisions of Section 7.3(b), and shall not be subject to any other or different standards imposed by this Agreement or any other agreement contemplated herein or by relevant provisions of Law or in equity or otherwise.
Fiduciary Standard. The Trustee shall hold and invest the Trust Fund as set forth in Articles VIII and IX and shall discharge its duties solely in the interest of Participants and their beneficiaries and:
Fiduciary Standard. Trustee shall act with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims, provided, however, that Trustee shall incur no liability to any person for any action taken pursuant to a direction, request or approval given by Company or a Participant which is contemplated by, and in conformity with, the terms of the Awards or this Trust and is given in writing by Company or Participant. In the event of a dispute between Company and a Participant, Trustee may apply to a court of competent jurisdiction to resolve the dispute.
Fiduciary Standard. The Trustee shall hold and invest the Trust Fund as set forth in Articles VIII and IX for the purpose of accumulating values to provide benefits to Participants. The Trustee shall invest the Trust Fund solely in the interest of the Participants and their Beneficiaries, for the exclusive purpose of providing benefits to such Participants and their Beneficiaries, and defraying reasonable expenses of administering the Plan. The Trustee shall act with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of alike character and with like aims. The Trustee shall diversify the investments of the Trust Fund so as to minimize the risk of large losses, unless under the circumstances it is clearly prudent not to do so. All actions of the Trustee shall be in accordance with the provisions of the Plan insofar as they are consistent with the provisions of ERISA. The diversification requirement and the prudence requirement insofar as it relates to diversification are waived to the extent that the Trustee invests in Qualifying Employer Securities and Employer Securities as provided in this Article. The prudence and diversification requirements are waived when Trust Fund assets are invested in deposits in a bank or similar financial institution supervised by the United States or a state; provided, if a portion of any Participant’s account balance invested in such deposits would exceed the amount insured by the Federal Deposit Insurance Corporation or similar federal insurance agency such Participant must request in writing that the balance in his account be so invested. Notwithstanding anything to the contrary herein, the Committee shall at all times have the power but not the obligation to make written directions to the Trustee concerning the investment of the Trust Fund; provided, such directions are not in violation of ERISA. A duly appointed Investment Manager shall have the power to direct the investment of any portion of the Trust Fund subject to its management; provided, such directions are not in violation of ERISA.
Fiduciary Standard. To act freely under all or any of the powers given to the Trustee in all matters concerning the trusts herein created, after forming a judgment based upon all the circumstances of any particular situation as to the wisest and best course to pursue in the best interest of the trusts and the beneficiaries hereunder, without the necessity of obtaining the consent or permission of any person interested therein or of any court, and notwithstanding that the Trustee may also be acting as trustee of other trusts, or as agent for other persons or corporations interested in the same matters; provided that the Trustee shall exercise such powers at all times in a fiduciary capacity primarily in the best interest of the beneficiaries hereunder. With respect to statutes contained in Title 60 of the Oklahoma Statutes, as amended, the provisions of Section 175.12 (Trustee selling to self as trustee of another trust) are waived as to any Trustee and the provisions of Sections 175.9 (Trustee lending funds to self, affiliate, etc.), 175.11 (Trustee buying from, or selling to, self, affiliate, etc.), 175.11a (Trustee employing affiliate or division) and 175.13 (Trustee purchasing stock, bond or securities of self, affiliate, etc.) are waived as to any individual Trustee. No Trustee shall deal with any person with respect to any of the trust assets for less than an adequate consideration in money or money’s worth.
Fiduciary Standard. The Committee and the Plan Administrator shall ------------------ exercise their powers in accordance with rules applicable alike to all similar cases, and they shall discharge all their powers and duties hereunder in accordance with the terms of this Plan, solely in the interests of Participants, Retirement Participants, Former Participants, Former Retirement Participants and Beneficiaries, and for the exclusive purpose of providing benefits to such persons, with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of like character and with like aims.
Fiduciary Standard. The Investment Advisory Act of 1940 imposes a fiduciary duty to ADVISER. ADVISER has a duty of utmost good faith to act solely in the best interest of CLIENT. Our fiduciary duty compels ADVISER, and its affiliates, to act with the utmost integrity in all of our dealings. In addition, ADVISER does not charge an advisory fee on assets sitting in cash/money market. By signing below CLIENT agrees that ADVISER will continue to not charge advisory fees on assets sitting in cash/money market even though a move from cash to investments will increase compensation to ADVISER. ADVISER maintains that all investments, and moves from cash/money market to investments, will be done in the best interest of CLIENT.
Fiduciary Standard. The Committee and the Plan Administrator shall ------------------ exercise their powers in accordance with rules applicable alike to all similar cases, and they shall discharge all their powers and duties under this Plan in accordance with the terms of this Plan, solely in the interest of Participants, Former Participants entitled to benefits under this Plan, Pensioners, Alternate Payees and Beneficiaries and for the exclusive purpose of providing benefits to Participants, Former Participants entitled to benefits under this Plan, Pensioners, Alternate Payees and Beneficiaries, with the care, skill prudence and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of like character and with like aims.
Fiduciary Standard. Transition Manager agrees to discharge its duties as Transition Manager as a fiduciary, as defined in the Illinois Pension Code (40 ILCS 5/1-101.2), with respect to the IPOPIF Account Assets involved in the Transition, and to assume the duties, responsibilities, and obligations of a fiduciary. The Transition Manager shall discharge its duties solely in the best interests of the IPOPIF, and in the event of opposing or nonaligned interests with other parties, including the Transition Manager’s, the best interests of the Fund will prevail. Transition Manager further agrees that it will comply with all Applicable Law or Regulations applying to Transition Manager’s performance of the Transition Services covered by this Agreement.
