Common use of Investment Decisions Clause in Contracts

Investment Decisions. (a) The Trustee shall invest and reinvest the Trust Fund as follows: (i) To the extent that any portion of the Trust Fund shall be allocated to an Investment Fund other than the Employer Stock Fund, such portion of the Trust fund shall be invested and reinvested: (A) by the Trustee, in its discretion; or (B) if an Investment Manager is appointed to direct the investment of amounts allocated to such Investment Fund, in accordance with the directions of such Investment Manager; and (ii) to the extent that any portion of the Trust Fund is allocated to the Employer Stock Fund, such portion of the Trust Fund shall be invested and reinvested in Shares at such prices and at such times as the Trustee, in its discretion, may determine. The Trustee shall be under no duty or obligation to review any investment to be acquired, held or disposed of pursuant to directions of the Committee, any Investment Manager nor to make any recommendation with respect to the disposition or continued retention of any such investment. To the extent that the Trustee is subject to direction by the Committee or an Investment Manager, or the Trustee is acting pursuant to Section 4.04(c), the Bank hereby agrees to indemnify the Trustee and hold it harmless from and defend it against any claim or liability which may be asserted against the Trustee by reason of any action or inaction by it pursuant to a direction by the Committee or by an Investment Manager or failing to act in the absence of any such direction. (b) The Committee or an Investment Manager appointed pursuant to Section 4.03 may, from time to time, issue orders for the purchase or sale of securities directly to a broker. Written notification of the issuance of each such order shall be given promptly to the Trustee by the Committee or the Investment Manager, and the execution of each such order shall be confirmed by written advice to the Trustee by the broker. Such notification shall be authority for the Trustee to pay for securities purchased against receipt thereof and to deliver securities sold against payment therefor, as the case may be. (c) To the extent that neither the Committee nor an Investment Manager furnishes directions as to the investment of any portion of the Trust Fund that is subject to its direction, to the extent provided by ERISA, the Trustee shall invest and reinvest the Trust Fund in any savings account, time or other interest bearing deposit or in any other interest bearing obligation of any one or more banks, savings banks, savings and loan associations and other financial institutions, or any of them, including any subsidiary of the Bank, or, subject to Section 4.06, in any commingled, collective, common or group trust fund at least 75 % of the assets of which are invested in such savings accounts, time or other interest bearing deposits or other interest bearing obligations.

Investment Decisions. (a) The Trustee shall invest and reinvest the Trust Fund as follows: (i) To in accordance with the directions of the Committee, or, to the extent that any portion of the Trust Fund shall be allocated to an Investment Fund other than the Employer Stock Fund, such portion of the Trust fund shall be invested and reinvested: (A) by the Trustee, provided in its discretion; or (B) if an Investment Manager is appointed to direct the investment of amounts allocated to such Investment FundSection 3.3, in accordance with the directions of such an Investment Manager; and (ii) to the extent that any portion of the Trust Fund is allocated to the Employer Stock Fund, such portion of the Trust Fund shall be invested and reinvested in Shares at such prices and at such times as the Trustee, in its discretion, may determine. The Trustee shall be under no duty or obligation to review any investment to be acquired, held or disposed of pursuant to such directions of the Committee, any Investment Manager nor to make any recommendation with respect to the disposition or continued retention of any such investment. To The Trustee shall have no liability or responsibility for its action or inaction pursuant to the extent that direction of, or its failure to act in the Trustee is subject to direction by absence of directions from, the Committee or an Investment Manager, or except to the Trustee is acting pursuant to extent provided in Section 4.04(c), the Bank 5.2. The Employer hereby agrees to indemnify the Trustee and hold it harmless from and defend it against any claim or liability which may be asserted against the Trustee by reason of any action or inaction by it pursuant to a direction by the Committee or by an Investment Manager or failing to act in the absence of any such direction. (b) The Committee or an Investment Manager appointed pursuant to Section 4.03 3.3 may, at any time and from time to time, issue orders for the purchase or sale of securities directly to a broker; and in order to facilitate such transaction, the Trustee upon request shall execute and deliver appropriate trading authorizations. Written notification of the issuance of each such order shall be given promptly to the Trustee by the Committee or the Investment Manager, and the execution of each such order shall be confirmed by written advice to the Trustee by the broker. Such notification shall be authority for the Trustee to pay for securities purchased against receipt thereof and to deliver securities sold against payment therefor, as the case may be. (c) To the extent that neither the Committee nor an Investment Manager furnishes directions as to the investment of any portion of the Trust Fund that is subject to its direction, to the extent provided by ERISATrust, the Trustee shall invest and reinvest the Trust Fund in any savings accountstable-value investment currently available to the Trust. If no stable-value investment is currently available to the Trust, time or other interest bearing deposit or in any other interest bearing obligation of any one or more banks, savings banks, savings the Trustee shall invest and loan associations and other financial institutions, or any of them, including any subsidiary reinvest the portion of the Bank, or, Trust subject to Section 4.06, this section 3.4(c) in any commingled, collective, common or group trust fund at least 75 % an investment generally recognized as having the lowest investment risk of all investments available to the assets of which are invested in such savings accounts, time or other interest bearing deposits or other interest bearing obligationsTrust.

Investment Decisions. (a) The Trustee shall invest and reinvest the Trust Fund as follows: (i) To the extent that any portion of the Trust Fund shall be allocated to an Investment Fund other than the Employer Stock Fund, such portion of the Trust fund shall be invested and reinvested: (A) by the Trustee, in its discretion; or (B) if an Investment Manager is appointed to direct the investment of amounts allocated to such Investment Fund, in accordance with the directions of such Investment Manager; and (ii) the Plan Administrator, or, to the extent that any portion provided in Article V in accordance with the directions of the Trust Fund is allocated to the Employer Stock Fund, such portion of the Trust Fund shall be invested and reinvested in Shares at such prices and at such times as the Trustee, in its discretion, may determinean Investment Manager. The Trustee shall be under no duty or obligation to review any investment to be acquired, held or disposed of pursuant to such directions of the Committee, any Investment Manager nor to make any recommendation with respect to the disposition or continued retention of any such investment. To The Trustee shall have no liability or responsibility for its actions or inaction pursuant to the extent that direction of, or its failure to act in the Trustee is subject to direction by absence of directions from, the Committee Plan Administrator or an Investment Manager, or except to the Trustee is acting pursuant to Section 4.04(c), the Bank extent provided in Article V. The Company hereby agrees to indemnify the Trustee and hold it harmless from and defend it against any claim or liability which may be asserted against the Trustee by reason of any action or inaction by it pursuant to a direction by the Committee Plan Administrator or by an Investment Manager or failing to act in the absence of any such direction. (b) The Committee Plan Administrator or an Investment Manager appointed pursuant to Section 4.03 section 2.3 may, at any time and from time to time, issue orders for the purchase or sale of securities directly to a broker; and in order to facilitate such transaction, the Trustee upon request shall execute and deliver appropriate trading authorizations. Written notification of the issuance of each such order shall be given promptly to the Trustee by the Committee Plan Administrator or the Investment Manager, and the execution of each such order shall be confirmed by written advice to the Trustee by the broker. Such notification shall be authority for the Trustee to pay for securities purchased against receipt thereof and to deliver securities sold against payment therefor, as the case may be. (c) To the extent that neither the Committee Plan Administrator nor an Investment Manager furnishes directions as to the investment of any portion of the Trust Fund that is subject to its direction, to the extent provided by ERISAFund, the Trustee shall invest and reinvest the Trust Fund (i) in Shares and (ii) to the extent that it is not practicable to invest and reinvest the Trust Fund in Shares, in any savings account, time or other interest bearing deposit in or in any other interest bearing obligation of any one or more banks, savings banks, savings and loan associations associations, banks and other financial institutions, or any of them, including any subsidiary of the BankCompany, or, subject to Section 4.06section 2.5, in any commingled, collective, common or group trust fund at least 75 75% of the assets of which are invested in such savings accounts, time or other interest bearing deposits or other interest bearing obligations. (d) Unless the Plan Administrator directs the Trustee otherwise, the Trustee shall have the power and authority, to be exercised in its sole discretion at any time and from time to time, to issue and place orders for the purchase or sale of securities directly with qualified brokers or dealers. Such orders may be placed with such qualified broker and/or dealers who also provide investment information or other research or statistical services to the Trustee in its capacity as a fiduciary or investment manager for other clients.

Investment Decisions. (a) The Trustee shall invest and reinvest the Trust Fund as follows: (i) To in accordance with the directions of the Committee, or, to the extent that any portion of the Trust Fund shall be allocated to an Investment Fund other than the Employer Stock Fund, such portion of the Trust fund shall be invested and reinvested: (A) by the Trustee, provided in its discretion; or (B) if an Investment Manager is appointed to direct the investment of amounts allocated to such Investment FundSection 3.3, in accordance with the directions of such an Investment Manager; and (ii) to the extent that any portion of the Trust Fund is allocated to the Employer Stock Fund, such portion of the Trust Fund shall be invested and reinvested in Shares at such prices and at such times as the Trustee, in its discretion, may determine. The Trustee shall be under no duty or obligation to review any investment to be acquired, held or disposed of pursuant to such directions of the Committee, any Investment Manager nor to make any recommendation with respect to the disposition or continued retention of any such investment. To The Trustee shall have no liability or responsibility for its action or inaction pursuant to the extent that direction of, or its failure to act in the Trustee is subject to direction by absence of directions from, the Committee or an Investment Manager, or except to the Trustee is acting pursuant to extent provided in Section 4.04(c), the Bank 5.1. The Employer hereby agrees to indemnify the Trustee and hold it harmless from and defend it against any claim or liability which may be asserted against the Trustee by reason of any action or inaction by it pursuant to a direction by the Committee or by an Investment Manager or failing to act in the absence of any such direction. (b) The Committee or an Investment Manager appointed pursuant to Section 4.03 3.3 may, at any time and from time to time, issue orders for the purchase or sale of securities directly to a broker; and in order to facilitate such transaction, the Trustee upon request shall execute and deliver appropriate trading authorizations. Written notification of the issuance of each such order shall be given promptly to the Trustee by the Committee or the Investment Manager, and the execution of each such order shall be confirmed by written advice to the Trustee by the broker. Such notification shall be authority for the Trustee to pay for securities purchased against receipt thereof and to deliver securities sold against payment therefortherefore, as the case may be. (c) To the extent that neither the Committee nor an Investment Manager furnishes directions as to the investment of any portion of the Trust Fund that is subject to its direction, to the extent provided by ERISATrust, the Trustee shall invest and reinvest the Trust Fund in any savings accountstable-value investment currently available to the Trust. If no stable-value investment is currently available to the Trust, time or other interest bearing deposit or in any other interest bearing obligation of any one or more banks, savings banks, savings the Trustee shall invest and loan associations and other financial institutions, or any of them, including any subsidiary reinvest the portion of the Bank, or, Trust subject to Section 4.06, this section 3.4(c) in any commingled, collective, common or group trust fund at least 75 % an investment generally recognized as having the lowest investment risk of all investments available to the assets of which are invested in such savings accounts, time or other interest bearing deposits or other interest bearing obligationsTrust.

Investment Decisions. (a) The Trustee shall invest and reinvest the Trust Fund as follows: (i) To in accordance with the extent that any portion directions of the Trust Fund shall be allocated to an Investment Fund other than the Employer Stock Fund, such portion of the Trust fund shall be invested and reinvested: (A) by the Trustee, in its discretionCommittee; or (Bii) if to the extent that an Investment Manager is appointed to direct the investment of amounts allocated to such any Investment Fund, in accordance with the directions of such Investment Manager; and (ii) to the extent that any portion of the Trust Fund is allocated to the Employer Stock Fund, such portion of the Trust Fund shall be invested and reinvested in Shares at such prices and at such times as the Trustee, in its discretion, may determine. The Trustee shall be under no duty or obligation to review any investment to be acquired, held or disposed of pursuant to directions of the Committee, Committee or any Investment Manager nor to make any recommendation with respect to the disposition or continued retention of any such investment. To the extent that the Trustee is subject to direction by the Committee or an Investment Manager, the Trustee shall have no liability or responsibility for its actions or inaction pursuant to the direction of, or its failure to act in the absence of directions from, the Committee or an Investment Manager, except to the extent provided in section 5.2. To the extent that the Trustee is acting pursuant subject to Section 4.04(c)direction by the Committee or an Investment Manager, the Bank Company hereby agrees to indemnify the Trustee and hold it harmless from and defend it against any claim or liability which may be asserted against the Trustee by reason of any action or inaction by it pursuant to a direction by the Committee or by an Investment Manager or failing to act in the absence of any such direction. (b) The Committee or an An Investment Manager appointed pursuant to Section 4.03 maysection 2.3 shall, from time to time, issue orders for the purchase or sale of securities directly to a broker. Written notification of the issuance of each such order shall be given promptly to the Trustee by the Committee or the Investment Manager, and the execution of each such order shall be confirmed by written advice to the Trustee by the broker. Such notification shall be authority for the Trustee to pay for securities purchased against receipt thereof and to deliver securities sold against payment therefor, as the case may be. (c) To the extent that neither the Committee nor an Investment Manager furnishes directions as to the investment of any portion of the Trust Fund that is subject to its direction, to the extent provided by ERISA, the Trustee shall invest and reinvest the Trust Fund (i) in Shares and (ii) to the extent that it is not practicable to invest and reinvest the Trust Fund in Shares, in any savings account, time or other interest bearing deposit or in any other interest bearing obligation of any one or more banks, savings banks, savings and loan associations associations, banks and other financial institutions, or any of them, including the Trustee or any subsidiary of the BankCompany, or, subject to Section 4.06section 2.5, in any commingled, collective, common or group trust fund at least 75 75% of the assets of which are invested in such savings accounts, time or other interest bearing deposits or other interest bearing obligations.

Investment Decisions. (a) The Trustee shall invest and reinvest the Trust Fund as follows: (i) To in accordance with the extent that any portion directions of the Trust Fund shall be allocated to an Investment Fund other than the Employer Stock Fund, such portion of the Trust fund shall be invested and reinvested: (A) by the Trustee, in its discretionCommittee; or (Bii) if to the extent that an Investment Manager is appointed to direct the investment of amounts allocated to such any Investment Fund, in accordance with the directions of such Investment Manager; and (ii) to the extent that any portion of the Trust Fund is allocated to the Employer Stock Fund, such portion of the Trust Fund shall be invested and reinvested in Shares at such prices and at such times as the Trustee, in its discretion, may determine. The Trustee shall be under no duty or obligation to review any investment to be acquired, held or disposed of pursuant to directions of the Committee, Committee or any Investment Manager nor to make any recommendation with respect to the disposition or continued retention of any such investment. To the extent that the Trustee is subject to direction by the Committee or an Investment Manager, the Trustee shall have no liability or responsibility for its actions or inaction pursuant to the direction of, or its failure to act in the absence of directions from, the Committee or an Investment Manager, except to the extent provided in section 5.2. To the extent that the Trustee is acting pursuant subject to Section 4.04(c)direction by the Committee or an Investment Manager, the Bank Company hereby agrees to indemnify the Trustee and hold it harmless from and defend it against any claim or liability which may be asserted against the Trustee by reason of any action or inaction by it pursuant to a direction by the Committee or by an Investment Manager or failing to act in the absence of any such direction. (b) The Committee or an Investment Manager appointed pursuant to Section 4.03 maysection 2.3 shall, from time to time, issue orders for the purchase or sale of securities directly to a broker. Written notification of the issuance of each such order shall be given promptly to the Trustee by the Committee or the Investment Manager, and the execution of each such order shall be confirmed by written advice to the Trustee by the broker. Such notification shall be authority for the Trustee to pay for securities purchased against receipt thereof and to deliver securities sold against payment therefor, as the case may be. (c) To the extent that neither the Committee nor an Investment Manager furnishes directions as to the investment of any portion of the Trust Fund that is subject to its direction, to the extent provided by ERISA, the Trustee shall invest and reinvest the Trust Fund (i) in Shares and (ii) to the extent that it is not practicable to invest and reinvest the Trust Fund in Shares, in any savings account, time or other interest bearing deposit or in any other interest bearing obligation of any one or more banks, savings banks, savings and loan associations associations, banks and other financial institutions, or any of them, including the Trustee or any subsidiary of the BankCompany, or, subject to Section 4.06section 2.5, in any commingled, collective, common or group trust fund at least 75 75% of the assets of which are invested in such savings accounts, time or other interest bearing deposits or other interest bearing obligations. (d) Subject to the preceding provisions of this Section 2.4, the Trustee shall have the power and authority to be exercised in its sole discretion at any time and from time to time to issue and place orders for the purchase or sale of securities directly with qualified brokers or dealers. Such orders may be placed with such qualified brokers and/or dealers who also provide investment information or other research or statistical services to the Trustee in its capacity as a fiduciary or investment manager for other clients.

Investment Decisions. (a) The Trustee shall invest and reinvest the Trust Fund as follows: (i) To in accordance with the extent that any portion directions of the Trust Fund shall be allocated to an Investment Fund other than the Employer Stock Fund, such portion of the Trust fund shall be invested and reinvested: (A) by the Trustee, in its discretionCommittee; or (Bii) if to the extent that an Investment Manager is appointed to direct the investment of amounts allocated to such any Investment Fund, in accordance with the directions of such Investment Manager; and (ii) to the extent that any portion of the Trust Fund is allocated to the Employer Stock Fund, such portion of the Trust Fund shall be invested and reinvested in Shares at such prices and at such times as the Trustee, in its discretion, may determine. The Trustee shall be under no duty or obligation to review any investment to be acquired, held or disposed of pursuant to directions of the Committee, Committee or any Investment Manager nor to make any recommendation with respect to the disposition or continued retention of any such investment. To the extent that the Trustee is subject to direction by the Committee or an Investment Manager, the Trustee shall have no liability or responsibility for its actions or inaction pursuant to the direction of, or its failure to act in the absence of directions from, the Committee or an Investment Manager, except to the extent provided in section 5.2. To the extent that the Trustee is acting pursuant subject to Section 4.04(c)direction by the Committee or an Investment Manager, the Bank Company hereby agrees to indemnify the Trustee and hold it harmless from and defend it against any claim or liability which may be asserted against the Trustee by reason of any action or inaction by it pursuant to a direction by the Committee or by an Investment Manager or failing to act in the absence of any such direction. (b) The Committee or an Investment Manager appointed pursuant to Section 4.03 maysection 2.3 shall, from time to time, issue orders for the purchase or sale of securities directly to a broker. Written notification of the issuance of each such order shall be given promptly to the Trustee by the Committee or the Investment Manager, and the execution of each such order shall be confirmed by written advice to the Trustee by the broker. Such notification shall be authority for the Trustee to pay for securities purchased against receipt thereof and to deliver securities sold against payment therefor, as the case may be. (c) To the extent that neither the Committee nor an Investment Manager furnishes directions as to the investment of any portion of the Trust Fund that is subject to its direction, to the extent provided by ERISA, the Trustee shall invest and reinvest the Trust Fund (i) in Shares and (ii) to the extent that it is not practicable to invest and reinvest the Trust Fund in Shares, in any savings account, time or other interest bearing deposit or in any other interest bearing obligation of any one or more banks, savings banks, savings and loan associations associations, banks and other financial institutions, or any of them, including the Trustee or any subsidiary of the BankCompany, or, subject to Section 4.06section 2.5, in any commingled, collective, common or group trust fund at least 75 75% of the assets of which are invested in such savings accounts, time or other interest bearing deposits or other interest bearing obligations. (d) Subject to the preceding provisions of this section 2.4, the Trustee shall have the power and authority to be exercised in its sole discretion at any time and from time to time to issue and place orders for the purchase or sale of securities directly with qualified brokers or dealers. Such orders may be placed with such qualified brokers and/or dealers who also provide investment information or other research or statistical services to the Trustee in its capacity as a fiduciary or investment manager for other clients.

Investment Decisions. (a) The Trustee shall invest and reinvest the Trust Fund as follows: (i) To the extent that any portion of the Trust Fund shall be allocated to an Investment Fund other than the Employer Stock Fund, such portion of the Trust fund shall be invested and reinvested: (A) by the Trustee, in its discretion; or (B) if an Investment Manager is appointed to direct the investment of amounts allocated to such Investment Fund, in accordance with the directions of such Investment Manager; and (ii) to the extent that any portion of the Trust Fund is allocated to the Employer Stock Fund, such portion of the Trust Fund shall be invested and reinvested in Shares at such prices and at such times as the Trustee, in its discretion, may determine. The Trustee shall be under no duty or obligation to review any investment to be acquired, held or disposed of pursuant to directions of the Committee, any Investment Manager nor to make any recommendation with respect to the disposition or continued retention of any such investment. To the extent that the Trustee is subject to direction by the Committee or an Investment Manager, or the Trustee is acting pursuant to Section 4.04(c), the Bank hereby agrees to indemnify the Trustee and hold it harmless from and defend it against any claim or liability which may be asserted against the Trustee by reason of any action or inaction by it pursuant to a direction by the Committee or by an Investment Manager or failing to act in the absence of any such direction. (b) The Committee or an Investment Manager appointed pursuant to Section 4.03 may, from time to time, issue orders for the purchase or sale of securities directly to a broker. Written notification of the issuance of each such order shall be given promptly to the Trustee by the Committee or the Investment Manager, and the execution of each such order shall be confirmed by written advice to the Trustee by the broker. Such notification shall be authority for the Trustee to pay for securities purchased against receipt thereof and to deliver securities sold against payment therefor, as the case may be. (c) To the extent that neither the Committee nor an Investment Manager furnishes directions as to the investment of any portion of the Trust Fund that is subject to its direction, to the extent provided by ERISA, the Trustee shall invest and reinvest the Trust Fund in any savings account, time or other interest bearing deposit or in any other interest bearing obligation of any one or more banks, savings banks, savings and loan associations and other financial institutions, or any of them, including any subsidiary of the Bank, or, subject to Section 4.06, in any commingled, collective, common or group trust fund at least 75 % of the assets of which are invested in such savings accounts, time or other interest bearing deposits or other interest bearing beating obligations.

Investment Decisions. (a) The Trustee shall invest and reinvest the Trust Fund as follows: (i) To in accordance with the directions of the Committee, or, to the extent that any portion of the Trust Fund shall be allocated to an Investment Fund other than the Employer Stock Fund, such portion of the Trust fund shall be invested and reinvested: (A) by the Trustee, provided in its discretion; or (B) if an Investment Manager is appointed to direct the investment of amounts allocated to such Investment FundSection 3.3, in accordance with the directions of such an Investment Manager; and (ii) to the extent that any portion of the Trust Fund is allocated to the Employer Stock Fund, such portion of the Trust Fund shall be invested and reinvested in Shares at such prices and at such times as the Trustee, in its discretion, may determine. The Trustee shall be under no duty or obligation to review any investment to be acquired, held or disposed of pursuant to such directions of the Committee, any Investment Manager nor to make any recommendation with respect to the disposition or continued retention of any such investment. To The Trustee shall have no liability or responsibility for its action or inaction pursuant to the extent that direction of, or its failure to act in the Trustee is subject to direction by absence of directions from, the Committee or an Investment Manager, or except to the Trustee is acting pursuant to extent provided in Section 4.04(c), the Bank 5.1. The Employer hereby agrees to indemnify the Trustee and hold it harmless from and defend it against any claim or liability which may be asserted against the Trustee by reason of any action or inaction taken by it pursuant to a direction by the Committee or by an Investment Manager or failing to act in the absence of any such direction. (b) The Committee or an Investment Manager appointed pursuant to Section 4.03 3.3 may, at any time and from time to time, issue orders for the purchase or sale of securities directly to a broker; and in order to facilitate such transaction, the Trustee upon request shall execute and deliver appropriate trading authorizations. Written notification of the issuance of each such order shall be given promptly to the Trustee by the Committee or the Investment Manager, and the execution of each such order shall be confirmed by written advice to the Trustee by the broker. Such notification shall be authority for the Trustee to pay for securities purchased against receipt thereof and to deliver securities sold against payment therefor, as the case may be. (c) To the extent that neither the Committee nor an Investment Manager furnishes directions as to the investment of any portion of the Trust Fund that is subject to its direction, to the extent provided by ERISATrust, the Trustee shall invest and reinvest the Trust Fund in any savings accountstable-value investment currently available to the Trust. If no stable-value investment is currently available to the Trust, time or other interest bearing deposit or in any other interest bearing obligation of any one or more banks, savings banks, savings the Trustee shall invest and loan associations and other financial institutions, or any of them, including any subsidiary reinvest the portion of the Bank, or, Trust subject to Section 4.06, this section 3.4(c) in any commingled, collective, common or group trust fund at least 75 % an investment generally recognized as having the lowest investment risk of all investments available to the assets of which are invested in such savings accounts, time or other interest bearing deposits or other interest bearing obligationsTrust.