Common use of Investments of Insurance Clause in Contracts

Investments of Insurance. The Pension Board or a duly authorized officer of the Company may direct the Trustee to apply for and maintain contracts of insurance with one or more companies for investment purposes pursuant to Section 2.05(m), using the proceeds of such insurance to fund the Trust. The Trustee shall be the policyholder and owner of such contracts. The Trustee, only as directed by the Pension Board or a duly authorized officer of the Company, shall exercise any and all investment options, decisions or rights that the Trustee has as policyholder and owner of such insurance policies held for investment purposes.

Investments of Insurance. The Pension ------------------------ Board or a duly authorized officer of the Company may direct the Trustee to apply for and maintain contracts of insurance with one or more companies for investment purposes pursuant to Section 2.05(m), using the proceeds of such insurance to fund the Trust. The Trustee shall be the policyholder and owner of such contracts. The Trustee, only as directed by the Pension Board or a duly authorized officer of the Company, shall exercise any and all investment options, decisions or rights that the Trustee has as policyholder and owner of such insurance policies held for investment purposes.