Fiduciary Standards. Each fiduciary shall:
(a) discharge his or her duties in accordance with this Plan and Trust to the extent they are consistent with ERISA;
(b) use that degree of care, skill, prudence and diligence that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims;
(c) act with the exclusive purpose of providing benefits to Participants and their Beneficiaries, and defraying reasonable expenses of administering the Plan;
(d) diversify Plan investments, to the extent such fiduciary is responsible for directing the investment of Plan assets, so as to minimize the risk of large losses, unless under the circumstances it is clearly prudent not to do so; and
(e) treat similarly situated Participants and Beneficiaries in a uniform and nondiscriminatory manner.
Fiduciary Standards. The Trustee shall invest and reinvest income in the same Fund in accordance with the investment objectives established by the Employer, provided that:
(a) such investments are prudent under the Employee Retirement Income Security Act of 1974 and the regulations promulgated thereunder,
(b) such investments are sufficiently diversified or otherwise insured or guaranteed to minimize the risk of large losses, and
(c) such investments are similar to those which would be purchased by another professional money manager for a like plan with similar investment objectives.
Fiduciary Standards. Subject to paragraphs 13.6 and 13.8 hereof, the Trustee, Employer and Custodian, as applicable, shall invest and reinvest principal and income of the Trust in accordance with the funding policy and investment objectives established by the Employer, provided that:
Fiduciary Standards. Subject to paragraphs 13.6 and 13.8 hereof, the Trustee, if discretionary, shall invest and reinvest principal and income of the Trust in accordance with the funding policy and investment objectives established by the Employer, provided that:
(a) such investments are prudent under ERISA, as amended, and the Regulations thereunder,
(b) such investments are sufficiently diversified to minimize the risk of large losses,
(c) such investments are made in accordance with the provisions of this Plan and Trust document, and
(d) such investments are made 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 a like character with like aims.
Fiduciary Standards. 47 15.3 Company is ERISA Plan Administrator.............................. 47 15.4
Fiduciary Standards. The rights and obligations of the Blackstone Partners and the NBCU Parties to each other and to each of the Subject Partnerships under this Agreement and under each of the Subject Partnership Agreements shall be governed by the fiduciary standards generally applicable to and between the Partners in each of the Subject Partnerships.
Fiduciary Standards. Subject to paragraphs 13.6 and 13.8 hereof, the Trustee, shall invest and reinvest principal and income of the Trust, provided that:
(a) such investments are prudent under ERISA, as amended, and the Regulations thereunder,
(b) such investments are sufficiently diversified to minimize the risk of large losses,
(c) such investments are made in accordance with the provisions of this Plan and Trust document, and
(d) such investments are made 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 a like character with like aims.
Fiduciary Standards. The Trustee (or any investment manager appointed pursuant to Article SECOND hereof) shall (i) discharge its duties hereunder with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims; (ii) subject to the investment funds specified in the Plan, if any, and to the extent required by ERISA, 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; and (iii) discharge its duties in accordance with the provisions of the Plan and this Agreement insofar as such provisions are consistent with ERISA. The Trustee (or any investment manager appointed pursuant to Article SECOND hereof) shall not engage in any transaction that it knows or should know violates section 406 of ERISA. Notwithstanding the foregoing, the Trustee (or any investment manager appointed pursuant to Article SECOND hereof) may, in accordance with any appropriate exemption provided under ERISA or upon the approval of the Secretary of the Department of Labor, enter into any transaction otherwise prohibited under section 406 of ERISA. The Trustee shall not be responsible for the administration of the Plan, for determining the funding policy of the Plan, or the adequacy of the Trust Fund to meet and discharge liabilities under the Plan. The Trustee shall not be responsible for any failure of the Committee or the Company to discharge any of their respective responsibilities with respect to the Plan nor be required to enforce payment of any contributions to the Trust Fund.
Fiduciary Standards. 67. The Fund will ensure that high-integrity fiduciary principles and standards are applied to its activities, and, to this end, the secretariat will work towards ensuring that each implementing entity applies such fiduciary principles and standards when implementing activities financed by the Fund. The secretariat will support the strengthening of the capacities of direct access implementing entities, where needed, to enable them to attain functional equivalency with the World Bank’s fiduciary principles and standards, on the basis of modalities that will be developed by the Board.
Fiduciary Standards. The Trustees (and any person or entity to which the Trustees shall delegate any duties) including the Investment Manager shall discharge their duties under this Trust Agreement solely in the interest of the Participants and Beneficiaries of the Program and in accordance with governing State and federal law and the terms of the Program and this Trust Agreement. Such duties shall be discharged for the exclusive purpose of providing VLOSAP Benefits to the Participants and Beneficiaries and paying expenses of the Program. In addition, the Trustees shall discharge their duties in accordance with the fiduciary standards established by Sections 21-201 through 21-210 of the State Personnel and Pensions Article of the Maryland Annotated Code, or successor provisions.
