Joint Trusteeship Sample Clauses

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 Xxxxxxx 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.
Sample 1Sample 2
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
Sample 1
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")
Sample 1
Joint Trusteeship. Employer to notify employees annually as to amount of made to Xxxxxxx & Associates, Plan Administrators, and Xxxxxxx will provide an annual financial statement on the members account.
Sample 1
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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, Xxxxxx Square North, 0000 Xxxxx Xxxxxx Xxxxxx, Xxxxxxxxxx, Xxxxxxxx 00000-0000.

  • Duties of Delaware Trustee (a) The Delaware Trustee is appointed to serve as the trustee of the Trust in the State of Delaware for the sole purpose of satisfying the requirement of Section 3807(a) of the Statutory Trust Statute that the Trust have at least one trustee with a principal place of business in Delaware. It is understood and agreed by the parties hereto that the Delaware Trustee shall have none of the duties or liabilities of the Trustee. (b) The duties of the Delaware Trustee shall be limited to (i) accepting legal process served on the Trust in the State of Delaware, (ii) the execution of any certificates with respect to the Trust required to be filed with the Secretary of State which the Delaware Trustee is required to execute under Section 3811 of the Statutory Trust Statute and (iii) such other duties as are set forth in this Article VIII. To the extent that, at law or in equity, the Delaware Trustee has duties (including fiduciary duties) and liabilities relating thereto to the Trust or the Holders of the REMIC I Regular Interests or the Certificates, it is hereby understood and agreed by the parties hereto that such duties and liabilities are replaced by the duties and liabilities of the Delaware Trustee expressly set forth in this Agreement.

  • Successor Owner Trustee Any successor Owner Trustee appointed pursuant to Section 10.02 shall execute, acknowledge and deliver to the Administrator and to its predecessor Owner Trustee an instrument accepting such appointment under this Agreement, and thereupon the resignation or removal of the predecessor Owner Trustee shall become effective, and such successor Owner Trustee, without any further act, deed or conveyance, shall become fully vested with all the rights, powers, duties and obligations of its predecessor under this Agreement, with like effect as if originally named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses deliver to the successor Owner Trustee all documents and statements and monies held by it under this Agreement, and the Administrator and the predecessor Owner Trustee shall execute and deliver such instruments and do such other things as may reasonably be required for fully and certainly vesting and confirming in the successor Owner Trustee all such rights, powers, duties and obligations. No successor Owner Trustee shall accept appointment as provided in this Section unless at the time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section 10.01. Upon written acceptance of appointment by a successor Owner Trustee pursuant to this Section, the Administrator shall mail notice thereof to all Certificateholders, the Indenture Trustee, the Noteholders and the Rating Agencies. If the Administrator shall fail to mail such notice within 10 Business Days after acceptance of such appointment by the successor Owner Trustee, the successor Owner Trustee shall cause such notice to be mailed at the expense of the Administrator. Any successor Owner Trustee appointed hereunder shall promptly file an amendment to the Certificate of Trust with the Secretary of State of the State of Delaware as required by the Statutory Trust Act.

  • Appointment of Co-Trustee or Separate Trustee Notwithstanding any other provisions of this Agreement, at any time, for the purpose of meeting any legal requirements of any jurisdiction in which any part of the Trust Estate may at the time be located, the Seller and the Owner Trustee acting jointly shall have the power and shall execute and deliver all instruments to appoint one or more Persons approved by the Owner Trustee to act as co-trustee, jointly with the Owner Trustee, or separate trustee or separate trustees, of all or any part of the Trust Estate, and to vest in such Person, in such capacity, such title to the Issuer, or any part thereof, and, subject to the other provisions of this Section, such powers, duties, obligations, rights and trusts as the Seller and the Owner Trustee may consider necessary or desirable. If the Seller shall not have joined in such appointment within 15 days after the receipt by it of a request so to do, the Owner Trustee alone shall have the power to make such appointment. No co-trustee or separate trustee under this Agreement shall be required to meet the terms of eligibility as a successor trustee pursuant to Section 10.1 and no notice of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 10.3. Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and conditions: (i) all rights, powers, duties and obligations conferred or imposed upon the Owner Trustee shall be conferred upon and exercised or performed by the Owner Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Owner Trustee joining in such act), except to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed, the Owner Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations (including the holding of title to the Issuer or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Owner Trustee; (ii) no trustee under this Agreement shall be personally liable by reason of any act or omission of any other trustee under this Agreement; and (iii) the Seller and the Owner Trustee acting jointly may at any time accept the resignation of or remove any separate trustee or co-trustee. Any notice, request or other writing given to the Owner Trustee shall be deemed to have been given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Agreement and the conditions of this Article. Each separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Owner Trustee or separately, as may be provided therein, subject to all the provisions of this Agreement, specifically including every provision of this Agreement relating to the conduct of, affecting the liability of, or affording protection to, the Owner Trustee. Each such instrument shall be filed with the Owner Trustee and copies thereof given to the Seller and the Administrator. Any separate trustee or co-trustee may at any time appoint the Owner Trustee, its agent or attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Agreement on its behalf and in its name. If any separate trustee or co-trustee shall become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall vest in and be exercised by the Owner Trustee, to the extent permitted by law, without the appointment of a new or successor trustee. The Owner Trustee shall have no obligation to determine whether a co-trustee or separate trustee is legally required in any jurisdiction in which any part of the Trust Estate may be located.

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

  • Receiver or Trustee The Borrower shall make an assignment for the benefit of creditors, or apply for or consent to the appointment of a receiver or trustee for it or for a substantial part of its property or business; or such a receiver or trustee shall otherwise be appointed.

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