Joint Trusteeship Clause Samples

A Joint Trusteeship clause establishes that two or more parties will act together as trustees over certain assets or property. In practice, this means that all decisions regarding the management, investment, or distribution of the trust assets must be made collectively by the appointed trustees, rather than by a single individual. This arrangement ensures shared responsibility and oversight, reducing the risk of unilateral actions and promoting transparency in the administration of the trust.
Joint Trusteeship. The parties agree to not pursue joint trusteeship. All references to the Joint Trust will be removed from the collective agreement.
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Joint Trusteeship. Employer to notify employees annually as to amount of contributions made to D.A. Townley & Associates, Plan Administrators, and ▇▇▇▇▇▇▇ will provide an annual financial statement on the members account.
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Joint Trusteeship. The parties agree to not pursue joint trusteeship. All references to the Joint Trust will be removed from the collective agreement. 2. Contributions Employee Employer Consistent margins valuation basis 4.84 (blended) 12.0* 3. Operation of the pension plan a) If a future valuation requires contribution changes (up or down) as a result of normal cost changes, then the increase or decrease will be shared on a one-for-one basis between the university and plan members. b) In the event that there is sufficient surplus in the plan and the university decides to take a contribution holiday, the parties will negotiate one-time benefit improvements and/or a contribution holiday for plan members. For every $1 in contribution holiday for the university, $1 will be spent on one-time benefit improvement and/or an employee contribution holiday for plan members. c) The employee blended contribution rate will be no less than 4.84% and the university contribution rate will be no less than 10.5% except at the time when the plan has excess surplus as defined by Canada Revenue Agency (CRA). d) In the event there is excess surplus in the plan as defined by the CRA, and the university decides to take a contribution holiday, the parties will negotiate one-time benefit improvements and/or contribution holiday for plan members. For every $1 of contribution holiday for the university, $1 will be spent on one-time benefit improvement and/or an employee contribution holiday for plan members. No excess surplus valuation will be filed. Should the parties be unable to reach agreement on benefit improvement, the members’ share of excess surplus will be applied as a prospective accrual formula improvement. Article 28.02c) will be deleted from both Collective Agreements. e) The University will be entitled to reasonable compensation for administrative services of the plan. f) The supplemental retirement benefit arrangement will be included as part of the plan assets for valuation purposes. Page 91‌‌
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Joint Trusteeship. The Canadian Labour Congress and the Unions agree to Joint Trusteeship of the Pension Plan. The general approach agreed to in establishing Joint Trusteeship is as follows: 1) The Pension Trust Agreement between the Unions and the Employer will be developed through the Pension Advisory Committee by no later than one year following ratification of the collective agreement. Once developed, the Pension Trust Agreement will be recommended to each bargaining unit and the Executive Committee for ratification. 2) The Pension Advisory Committee will consider in its deliberations to develop a Pension Trust Agreement the ongoing administration of the plan, investment issues, the hiring of service providers (actuaries, fund managers, custodians, etc.), required contributions of the plan member and CLC as well as financing and amortization of future actuarial deficits. 3) The Canadian Labour Congress will be responsible for any audited actuarial deficit that exists on the date that the Trust Agreement for Joint Administration of the Plan comes into effect. At the point following the start of Joint Administration of the Plan, when the plan is in a surplus position the CLC’s responsibility for the prior deficit will end. 4) Trustees and plan members will be provided with training. 5) Benefit changes and the allocation of surplus are still to be resolved in collective bargaining. Trustees can agree to actuarially neutral benefit changes. 6) The voting strength in the Board of Trustees will be equally divided between the union/plan member representatives, and the employer. Union/plan member representation may include representatives of retirees. IAMAW Local Lodge 3111 CULR and COPE Local 225 will share equally both the union/plan member representation and the retiree representation on the Board. Board members will have alternates. 7) Trustees will be provided with liability insurance at the expense of the plan.
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Joint Trusteeship. The parties agree to not pursue joint trusteeship. All references to the Joint Trust will be removed from the collective agreement. 2. Contributions Employee Employer Consistent margins valuation basis 4.84 (blended) 12.0* 3. Operation of the pension plan
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Joint Trusteeship. Employer to notify employees annually as to amount of made to ▇▇▇▇▇▇▇ & Associates, Plan Administrators, and ▇▇▇▇▇▇▇ will provide an annual financial statement on the members account.
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Joint Trusteeship. The Employer and the Union agree in principle to the concept of Joint trusteeship of the Health Boniface General Hospital Retirement Plan. Subject to the resolution of those matters to be addressed by the Employee Benefits Issues Identification Committee, the parties agree to support changes to the plan to achieve joint trusteeship. This agreement signed this day of For the International MEMORANDUM OF AGREEMENT UNION OF OPERATING ENGINEERS, LOCAL Units) Re: Participation in Pension Plan The and the Union agree to participate in the Jointly Pension Plan in accordance with the Trust Agreement and Plan Text as established by the Board of Trustees as anticipated and in accordance with the September Memorandum of Understanding for Amalgamation of the Pension Plan for Employees of Participating Health Care Organizations in Manitoba (MHOPlan) and the Retirement Plan for Employees of the Health Sciences Centre and Boniface General Hospital et Plan). The parties agree that the plans' liabilities and assets, including surpluses, will be transferred from the existing plans to the successor plan. The contribution rate schedule as indicated in the Memorandum of Understanding of September may only be amended by the process outlined in the trust agreement or through collective bargaining. This agreement signed this day of For the Health Sciences Centre (All Units) (hereinafter called the "Union") HEALTH SCIENCES CENTRE The Employer and the Union agree to participate in the Provincial Health Care Labour Program and renew the Letter of Understanding on Redeployment principles attached to and forming part of this collective agreement. For the International Engineers, Local of Operating This agreement signed this day of \ INTERNATIONAL UNION OF OPERATING ENGINEERS, LOCAL (All Units) (hereinafter called the "Union")
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Related to Joint Trusteeship

  • Relevant Trustee Following the payment in full of principal of, and interest on, the Notes, the Certificate Paying Agent shall assume the role of Relevant Trustee hereunder and shall perform the obligations of the Relevant Trustee set forth herein. At least five (5) Business Days prior to the final payment in full of principal of, and interest on, the Notes, the Servicer shall deliver a written notification to the Certificate Paying Agent, which notice shall set forth the date upon which the Certificate Paying Agent will assume the role of Relevant Trustee (the “Assumption Date”). For the avoidance of doubt, the obligations and duties of the Certificate Paying Agent as Relevant Trustee under the Transaction Documents shall be limited to the express duties of the Relevant Trustee, and shall not be deemed to include any duty or obligation of the Indenture Trustee, the Issuer, or any other Person. In the performance of its obligations as Relevant Trustee, the Certificate Paying Agent shall be entitled to all of the same rights, protections, indemnities and immunities as the Indenture Trustee under the Indenture, which rights, protections, indemnities and immunities are incorporated herein by reference. The parties hereby agree to amend the Transaction Documents prior to the Assumption Date to provide for such terms and conditions as may be necessary or desirable in connection with the assumption of the role of Relevant Trustee by the Certificate Paying Agent.

  • Liquidating Trustee Upon dissolution of the Partnership, unless the business of the Partnership is continued pursuant to Section 12.2, the Board of Directors shall select one or more Persons to act as Liquidating Trustee. The Liquidating Trustee (if other than the General Partner) shall be entitled to receive such compensation for its services as may be approved by holders of at least a majority of the Outstanding Common Units. The Liquidating Trustee (if other than the General Partner) shall agree not to resign at any time without 15 days’ prior notice and may be removed at any time, with or without cause, by notice of removal approved by holders of at least a majority of the Outstanding Common Units. Upon dissolution, removal or resignation of the Liquidating Trustee, a successor and substitute Liquidating Trustee (who shall have and succeed to all rights, powers and duties of the original Liquidating Trustee) shall within 30 days thereafter be approved by the holders of at least a majority of the Outstanding Common Units. The right to approve a successor or substitute Liquidating Trustee in the manner provided herein shall be deemed to refer also to any such successor or substitute Liquidating Trustee approved in the manner herein provided. Except as expressly provided in this Article XII, the Liquidating Trustee approved in the manner provided herein shall have and may exercise, without further authorization or consent of any of the parties hereto, all of the powers conferred upon the Board of Directors and the General Partner under the terms of this Agreement (but subject to all of the applicable limitations, contractual and otherwise, upon the exercise of such powers, other than the limitation on sale set forth in Section 7.11(b)) necessary or appropriate to carry out the duties and functions of the Liquidating Trustee hereunder for and during the period of time required to complete the winding up and liquidation of the Partnership as provided for herein.

  • Independent Trustee A Trustee who is an "Independent Trustee," as that term is defined in the Delaware Act, shall be deemed to be independent and disinterested for all purposes when making any determinations or taking any action as a Trustee.

  • Appointment of the Owner Trustee The Seller hereby appoints the Owner Trustee as trustee of the Issuer effective as of the date hereof, to have all the rights, powers and duties set forth herein.

  • Delaware Trustee The name and business address of the trustee of the Trust in the State of Delaware is Wilmington Trust Company, ▇▇▇▇▇▇ Square North, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇.