Common use of General Trustee’s Powers Clause in Contracts

General Trustee’s Powers. The Trustee shall have, without exclusion, all powers conferred on Trustees by applicable law, unless expressly provided otherwise in this Trust Agreement, provided, however, that if an insurance policy is held as an asset of the Trust, the Trustee shall have no power to name a beneficiary of the policy other than the Trust, to assign the policy (as distinct from conversion of the policy to a different form) other than to a successor Trustee, or to loan to any person the proceeds of any borrowing against such policy.

General Trustee’s Powers. The Trustee shall have, without exclusion, all powers conferred on Trustees by applicable law, unless expressly provided otherwise in this Trust Agreementherein, provided, however, that if an insurance policy is held as an asset of the Trust, the Trustee shall have no power to name a beneficiary of the policy other than the Trust, to assign the policy (as distinct from conversion of the policy to a different form) other than to a successor Trustee, or to loan to any person the proceeds of any borrowing against such policy.

General Trustee’s Powers. The Trustee shall have, without exclusion, all powers conferred on Trustees by applicable law, unless expressly provided otherwise in this Trust Agreementherein, provided, however, that if an insurance policy is held as an asset of the Trust, the Trustee shall have no power to name a beneficiary of the policy other than the Trust, to assign the policy (as distinct from conversion of the policy to a different form) other than to a successor Trustee, or to loan to any person the proceeds of any borrowing against such policy.

General Trustee’s Powers. The Trustee shall have, subject to Employer direction, without exclusion, all powers conferred on Trustees by applicable law, unless expressly provided otherwise in this Trust Agreementherein, provided, however, that if an insurance policy is held as an asset of the Trust, the Trustee shall have no power to name a beneficiary of the policy other than the Trust, to assign the policy (as distinct from conversion of the policy to a different form) other than to a successor Trustee, or to loan to any person the proceeds of any borrowing against such policy.