Common use of Investment Responsibilities Clause in Contracts

Investment Responsibilities. Initial investment decisions are the responsibility of the Depositor and the Depositor is responsible to direct the Custodian in writing, or other acceptable form and manner authorized by the Custodian, regarding how all amounts are to be invested. Consistent with Article IV, the Responsible Individual may redirect the Custodian regarding the investment of contributions and earnings. Subject to the policies and practices of the Custodian, the Responsible Individual may delegate investment authority by appointing an Authorized Agent in writing in a form and manner acceptable to the Custodian. Upon receipt of instructions from the Responsible Individual and proof of acceptance by the Authorized Agent, the Custodian will accept investment direction and may fully rely on those instructions as if the Custodian had received the instructions from the Responsible Individual.