Common use of Limitation of Trustee's Liability Clause in Contracts

Limitation of Trustee's Liability. a) Any direction, instruction, or notice by the Trustee or to the Trustee by a Member, the Employer, the Plan Administrator, the Investment Manager, a Named Fiduciary, the Insurer, or other person pursuant to any of the provisions of this Plan and Trust shall be in writing and delivered by regular mail, and shall be effective only upon actual receipt. The Employer and the Trustee may agree in writing that any such direction, instruction, or notice may be given by alternative methods, including facsimile transmission, telephone, or electronic transmission to any e-mail address or fax or telephone number and shall, with regard to such alternate means of giving any such direction, instruction, or notice, provide for the use of identifying numbers or procedures that must be followed with regard to the giving of any such direction, instruction, or notice. The Employer shall inform the Plan Administrator, Named Fiduciary, Members, and any Investment Manager of such agreed upon alternative methods. The Trustee shall not be under any duty or obligation to act on any notice, instruction, or direction received in a form other than those agreed upon between the Employer and the Trustee. The Trustee may absolutely rely upon any and all such directions, instructions, or notices reasonably believed by it to be genuine and shall be fully protected in acting in accordance therewith. The Employer agrees to indemnify and hold the Trustee harmless against any loss, cost, claim damage, expense, and liability (including attorney's fees) and other costs it may incur in acting upon such notice, instructions, or directions. Except for the Trustee's own negligence, the Trustee shall incur no liability for any act or failure to act pursuant to this Agreement, unless a higher standard of care is imposed by ERISA. b) The Trustee is not liable for the acts or omissions of any Investment Manager, the Employer, the Plan Administrator, or the Insurer, nor is the Trustee under any obligation to invest or otherwise manage any asset of the Plan which is subject to the management of a properly appointed Investment Manager. The Employer, the Plan Administrator, the Trustee, and any properly appointed Investment Manager may execute a letter of agreement as a part of this Plan delineating the duties, responsibilities, fee structure, and liabilities of the Investment Manager with respect to any part of the Trust Fund under the control of the Investment Manager. c) The Trustee may assume that the Employer, the Plan Administrator, the Investment Manager, and the Insurer are appropriately discharging their duties under the Plan Documents and this Agreement unless and until it is notified to the contrary in writing by any person known to the Trustee to be a Member in the Plan, the Employer, or a governmental agency with jurisdiction. In the event the Trustee receives said written notice, then the Trustee shall take any actions it deems appropriate, including, if the Trustee so desires, applying to a court of competent jurisdiction and/or Federal regulatory authorities for guidance with respect to disposition of the Trust Fund. d) The Trustee shall have no authority or discretion for the management and control of the Trust Fund beyond implementation of instructions, notice, or directions received by the Trustee in accordance with this Agreement, it being contemplated that all Plan assets will be under the control or direction of the Insurer or a properly appointed Investment Manager, or subject to Member, Employer, Plan Administrator, or Named Fiduciary direction. The Trustee shall not be responsible for reviewing reports provided by the Insurer or any Investment Manager. The Trustee will be under no duty of inquiry or review with regard to any direction, instruction, or notice that it may receive in accordance with this Agreement. e) The duties and responsibilities of the Trustee shall be limited to those set forth in this Agreement and nothing contained in this Agreement shall be deemed, either expressly or by implication, to impose any additional duties, powers, or responsibilities on the Trustee.

Limitation of Trustee's Liability. a) Any direction, instruction, 6.1 The Trustee shall be accountable only for funds actually received by it hereunder and shall have no duty or notice liability to determine that the amount of the funds received by the Trustee or to the Trustee by a Member, the Employer, the Plan Administrator, the Investment Manager, a Named Fiduciary, the Insurer, or other person pursuant to any of it comply with the provisions of this Plan and Trust shall be in writing and delivered by regular mailthe Plan. If the Company has established a contract with an insurance company to carry out the purposes of the Plan, and shall be effective only upon actual receipt. The Employer and the Trustee may agree in writing that any such direction, instruction, or notice may be given by alternative methods, including facsimile transmission, telephone, or electronic transmission to any e-mail address or fax or telephone number and shall, with regard to such alternate means of giving any such direction, instruction, or notice, provide for the use of identifying numbers or procedures that must be followed with regard to the giving of any such direction, instruction, or notice. The Employer shall inform the Plan Administrator, Named Fiduciary, Members, and any Investment Manager of such agreed upon alternative methods. The Trustee shall not be under any duty or obligation to act on any notice, instruction, or direction received in a form other than those agreed upon between the Employer and the Trustee. The Trustee may absolutely rely upon any and all such directions, instructions, or notices reasonably believed by it to be genuine and shall be fully protected in acting in accordance therewith. The Employer agrees to indemnify and hold the Trustee harmless against any loss, cost, claim damage, expense, and liability (including attorney's fees) and other costs it may incur in acting upon such notice, instructions, or directions. Except for the Trustee's own negligence, the Trustee shall incur no liability for any act or failure to act pursuant to this Agreement, unless a higher standard of care is imposed by ERISA. b) The Trustee is not liable for the acts or omissions of any Investment Manager, the Employer, the Plan Administratorsuch insurance company, or the Insurer, nor is the Trustee be under any an obligation to invest or otherwise manage any asset the portion of the Plan Trust Fund, which is subject to the management of a properly appointed Investment Manager. The Employer, such insurance company. 6.2 Whenever the Plan AdministratorTrustee is required or authorized to take any action hereunder pursuant to any written direction or notice of the Committee or the Company, the Trustee, and acting in accordance with such direction or notice, shall not be responsible for the administration of such Plan or Trust, for the correctness of any properly appointed Investment Manager may execute a letter of agreement as a part of this Plan delineating payments or disbursements from the duties, responsibilities, fee structure, and liabilities of the Investment Manager with respect to any part of the Trust Fund under the control of the Investment Manager. c) The Trustee may assume that the Employer, the Plan Administrator, the Investment Manager, and the Insurer are appropriately discharging their duties under the Plan Documents and this Agreement unless and until it is notified to the contrary in writing by any person known to the Trustee to be a Member in the Plan, the EmployerTrust, or a governmental agency with jurisdiction. In the event the Trustee receives said written notice, then the Trustee shall take for any actions it deems appropriate, including, if the Trustee so desires, applying to a court of competent jurisdiction and/or Federal regulatory authorities for guidance with respect to disposition of the Trust Fund. d) The Trustee shall have no authority or discretion for the management and control of the Trust Fund beyond implementation of instructions, notice, or directions received other action taken by the Trustee in accordance with this Agreement, it being contemplated that all Plan assets will such written direction or notice. Such direction or notice shall be under sufficient protection to the control Trustee if contained in writing signed by the Committee or direction such other person authorized to execute documents on behalf of the Insurer Committee, in the case of direction or a properly appointed Investment Manager, or subject notice required to Member, Employer, Plan Administrator, or Named Fiduciary direction. The Trustee shall not be responsible for reviewing reports provided given by the Insurer Committee; or by any Investment Manager. The Trustee will be under no duty officer of inquiry or review with regard to any directionthe Company, instruction, in the case of direction or notice that it required to be given by the Company. 6.3 The Company shall indemnify and hold harmless the Trustee from and against any losses, costs, damages or expenses, including reasonable attorneys’ fees, which the Trustee may receive incur or pay out by reason of (i) the Trustee’s acting in accordance with this Agreement. e) The duties and responsibilities the directions of the Company or the Committee or failing to act in the absence of such directions; (ii) the Trustee’s exercise and performance of its powers and duties hereunder, unless the same are determined to be due to the Trustee’s gross negligence, bad faith or willful misconduct; (iii) any (alleged or actual) action or inaction on the part of the Company or the Committee, unless such losses, costs, damages, or expenses arise out of the Trustee’s gross negligence, bad faith, or willful misconduct; or (iv) the Plan at any time fails to be exempt from the requirements of Parts 2, 3 and 4 of Title I of the Employee Retirement Income Security Act of 1974, as amended. In addition, in the event that the Trustee shall be undertakes or defends any litigation (including but not limited to those set forth any audit, proceeding or any other administrative action of any state, local or federal taxing authority) arising in connection with the Trust Fund, the Company agrees to indemnity the Trustee against the Trustee’s reasonable costs, expenses, and liabilities (including, without limitation, reasonable attorneys’ fees and expenses) relating thereto and to be primarily liable for such payments. If the company does not pay such costs, expenses, and liabilities described in this Agreement and nothing contained paragraph in this Agreement shall be deemeda reasonably timely manner, either expressly or by implication, to impose any additional duties, powers, or responsibilities on the TrusteeTrustee may obtain payment from the Trust Fund.

Limitation of Trustee's Liability. a) Any direction, instruction, 6.1 The Trustee shall be accountable only for funds actually received by it hereunder and shall have no duty or notice liability to determine that the amount of the funds received by the Trustee or to the Trustee by a Member, the Employer, the Plan Administrator, the Investment Manager, a Named Fiduciary, the Insurer, or other person pursuant to any of it comply with the provisions of this Plan and Trust shall be in writing and delivered by regular mailthe Plan. If the Company has established a contract with an insurance company to carry out the purposes of the Plan, and shall be effective only upon actual receipt. The Employer and the Trustee may agree in writing that any such direction, instruction, or notice may be given by alternative methods, including facsimile transmission, telephone, or electronic transmission to any e-mail address or fax or telephone number and shall, with regard to such alternate means of giving any such direction, instruction, or notice, provide for the use of identifying numbers or procedures that must be followed with regard to the giving of any such direction, instruction, or notice. The Employer shall inform the Plan Administrator, Named Fiduciary, Members, and any Investment Manager of such agreed upon alternative methods. The Trustee shall not be under any duty or obligation to act on any notice, instruction, or direction received in a form other than those agreed upon between the Employer and the Trustee. The Trustee may absolutely rely upon any and all such directions, instructions, or notices reasonably believed by it to be genuine and shall be fully protected in acting in accordance therewith. The Employer agrees to indemnify and hold the Trustee harmless against any loss, cost, claim damage, expense, and liability (including attorney's fees) and other costs it may incur in acting upon such notice, instructions, or directions. Except for the Trustee's own negligence, the Trustee shall incur no liability for any act or failure to act pursuant to this Agreement, unless a higher standard of care is imposed by ERISA. b) The Trustee is not liable for the acts or omissions of any Investment Manager, the Employer, the Plan Administratorsuch insurance company, or the Insurer, nor is the Trustee be under any an obligation to invest or otherwise manage any asset the portion of the Plan Trust Fund which is subject to the management of a properly appointed Investment Manager. The Employer, such insurance company. 6.2 Whenever the Plan AdministratorTrustee is required or authorized to take any action hereunder pursuant to any written direction or notice of the Committee or the Company, the Trustee, and acting in accordance with such direction or notice, shall not be responsible for the administration of such Plan or Trust, for the correctness of any properly appointed Investment Manager may execute a letter of agreement as a part of this Plan delineating payments or disbursements from the duties, responsibilities, fee structure, and liabilities of the Investment Manager with respect to any part of the Trust Fund under the control of the Investment Manager. c) The Trustee may assume that the Employer, the Plan Administrator, the Investment Manager, and the Insurer are appropriately discharging their duties under the Plan Documents and this Agreement unless and until it is notified to the contrary in writing by any person known to the Trustee to be a Member in the Plan, the EmployerTrust, or a governmental agency with jurisdiction. In the event the Trustee receives said written notice, then the Trustee shall take for any actions it deems appropriate, including, if the Trustee so desires, applying to a court of competent jurisdiction and/or Federal regulatory authorities for guidance with respect to disposition of the Trust Fund. d) The Trustee shall have no authority or discretion for the management and control of the Trust Fund beyond implementation of instructions, notice, or directions received other action taken by the Trustee in accordance with this Agreement, it being contemplated that all Plan assets will such written direction or notice. Such direction or notice shall be under sufficient protection to the control Trustee if contained in writing signed by the Committee or direction such other person authorized to execute documents on behalf of the Insurer Committee, in the case of direction or a properly appointed Investment Manager, or subject notice required to Member, Employer, Plan Administrator, or Named Fiduciary direction. The Trustee shall not be responsible for reviewing reports provided given by the Insurer Committee; or by any Investment Manager. The Trustee will be under no duty officer of inquiry or review with regard to any directionthe Company, instruction, in the case of direction or notice that it required to be given by the Company. 6.3 The Company shall indemnify and hold harmless the Trustee from and against any losses, costs, damages or expenses, including reasonable attorneys' fees, which the Trustee may receive incur or pay out by reason of (i) the Trustee's acting in accordance with this Agreement. e) The duties and responsibilities the directions of the Company or the Committee or failing to act in the absence of such directions; (ii) the Trustee's exercise and performance of its powers and duties hereunder, unless the same are determined to be due to the Trustee's negligence, bad faith or willful misconduct; (iii) any (alleged or actual) action or inaction on the part of the Company or the Committee, unless such losses, costs, damages, or expenses arise out of the Trustee's negligence, bad faith, or willful misconduct; or (iv) the Plan at any time fails to be exempt from the requirements of Parts 2, 3 and 4 of Title I of the Employee Retirement Income Security Act of 1974, as amended. In addition, in the event that the Trustee shall be undertakes or defends any litigation (including but not limited to those set forth any audit, proceeding or any other administrative action of any state, local or federal taxing authority) arising in connection with the Trust Fund, the Company agrees to indemnify the Trustee against the Trustee's reasonable costs, expenses, and liabilities (including, without limitation, reasonable attorneys' fees and expenses) relating thereto and to be primarily liable for such payments. If the company does not pay such costs, expenses, and liabilities described in this Agreement and nothing contained paragraph in this Agreement shall be deemeda reasonably timely manner, either expressly or by implication, to impose any additional duties, powers, or responsibilities on the TrusteeTrustee may obtain payment from the Trust Fund.

Limitation of Trustee's Liability. a) Any direction, instruction, or notice by the Trustee or to the Trustee by a Memberthe Named Fiduciary, the Employer, the Plan Administrator, the Investment Manager, a Named Fiduciary, the Insurer, or other person pursuant to any of the provisions of this Plan and Trust shall be in writing and delivered by regular mail, and shall be effective only upon actual receipt. Any direction, instruction, or notice from the Trustee to the Named Fiduciary, the Employer, the Plan Administrator, the Investment Manager, a Participant, the Insurer, or other person pursuant to any of the provisions of this Trust shall be considered effective when the Trustee mails it to the last address of the intended recipient which is contained in the Trustee’s records. The Employer and the Trustee may agree in writing that any such direction, instruction, or notice may be given by alternative methods, including facsimile transmission, telephone, or electronic transmission to any e-mail address or address, fax or telephone number and shall, with regard to such alternate means of giving any such direction, instruction, or notice, provide for the use of identifying numbers or procedures that must be followed with regard to the giving of any such direction, instruction, or notice. The Employer shall inform the Named Fiduciary, the Plan Administrator, Named Fiduciary, Members, and any Investment Manager and Participants of such agreed upon alternative methods. The Trustee shall not be under any duty or obligation to act on any notice, instruction, or direction received in a form other than those agreed upon between the Employer Named Fiduciary, the Employer, the Plan Administrator, and the Trustee. The Trustee may absolutely rely upon any and all such directions, instructions, or notices reasonably believed by it to be genuine and shall be fully protected in acting in accordance therewith. The Employer agrees to indemnify and hold the Trustee harmless against any loss, cost, claim claim, damage, expense, and liability (including attorney's ’s fees) and other costs it may incur in acting upon such notice, instructions, or directions. Except for the Trustee's ’s own negligence, the Trustee shall incur no liability for any act or failure to act pursuant to this Trust Agreement, unless a higher standard of care is imposed by ERISA. b) The Trustee is not liable for the acts or omissions of any Investment Managerthe Named Fiduciary, the Employer, the Plan Administrator, the Investment Manager, or the Insurer, nor is the Trustee under any obligation to invest or otherwise manage any asset of the Plan which is subject to the management of a properly appointed Investment Manager. The Employer, the Plan Administrator, the Trustee, A Named Fiduciary and any properly appointed Investment Manager may execute a letter of agreement as a part of this Plan Trust delineating the duties, responsibilities, fee structure, and liabilities of the Investment Manager with respect to any part of the Trust Fund under the control of the Investment Manager. c) The Trustee may assume that the Named Fiduciary, the Employer, the Plan Administrator, the Investment Manager, and the Insurer are appropriately discharging their duties under the Plan Documents and this Trust Agreement unless and until it is notified to the contrary in writing by any person known to the Trustee to be a Member Participant in the Plan, the Employer, or a governmental agency with jurisdiction. In the event the Trustee receives said written notice, then the Trustee shall take any actions it deems appropriate, including, if the Trustee so desires, applying to a court of competent jurisdiction and/or Federal regulatory authorities for guidance with respect to disposition of the Trust Fund. d) The Trustee shall have no authority or discretion responsibility for the management and control of the Trust Fund beyond implementation of instructions, notice, or directions received by the Trustee in accordance with this Trust Agreement, it being contemplated that all Plan assets will be under the control or direction of the Insurer or a properly appointed Investment Manager, or subject to MemberNamed Fiduciary, Employer, Plan Administrator, or Named Fiduciary Participant direction. The Trustee shall not be responsible for reviewing reports provided by the Insurer or any Investment Manager. The Trustee will be under no duty of inquiry or review with regard to any direction, instruction, or notice that it may receive in accordance with this AgreementTrust Agreement except as set forth in Section.04. e) The duties and responsibilities of the Trustee shall be limited to those set forth in this Trust Agreement and nothing contained in this Trust Agreement shall be deemed, either expressly or by implication, to impose any additional duties, powers, or responsibilities on the Trustee.

Limitation of Trustee's Liability. a) Any direction, instruction, or notice by the Trustee or to the Trustee by a Memberthe Named Fiduciary, the Employer, the Plan Administrator, the Investment Manager, a Named Fiduciary, the Insurer, or other person pursuant to any of the provisions of this Plan and Trust shall be in writing and delivered by regular mail, and shall be effective only upon actual receipt. Any direction, instruction, or notice from the Trustee to the Named Fiduciary, the Employer, the Plan Administrator, the Investment Manager, a Participant, the Insurer, or other person pursuant to any of the provisions of this Trust shall be considered effective when the Trustee mails it to the last address of the intended recipient which is contained in the Trustee’s records. The Employer and the Trustee may agree in writing that any such direction, instruction, or notice may be given by alternative methods, including facsimile transmission, telephone, or electronic transmission to any e-mail address or address, fax or telephone number and shall, with regard to such alternate means of giving any such direction, instruction, or notice, provide for the use of identifying numbers or procedures that must be followed with regard to the giving of any such direction, instruction, or notice. The Employer shall inform the Named Fiduciary, the Plan Administrator, Named Fiduciary, Members, and any Investment Manager and Participants of such agreed upon alternative methods. The Trustee shall not be under any duty or obligation to act on any notice, instruction, or direction received in a form other than those agreed upon between the Employer Named Fiduciary, the Employer, the Plan Administrator, and the Trustee. The Trustee may absolutely rely upon any and all such directions, instructions, or notices reasonably believed by it to be genuine and shall be fully protected in acting in accordance therewith. The Employer agrees to indemnify and hold the Trustee harmless against any loss, cost, claim claim, damage, expense, and liability (including attorney's ’s fees) and other costs it may incur in acting upon such notice, instructions, or directions. Except for the Trustee's ’s own negligence, the Trustee shall incur no liability for any act or failure to act pursuant to this Trust Agreement, unless a higher standard of care is imposed by ERISA. b) The Trustee is not liable for the acts or omissions of any Investment Managerthe Named Fiduciary, the Employer, the Plan Administrator, the Investment Manager, or the Insurer, nor is the Trustee under any obligation to invest or otherwise manage any asset of the Plan which is subject to the management of a properly appointed Investment Manager. The Employer, the Plan Administrator, the Trustee, A Named Fiduciary and any properly appointed Investment Manager may execute a letter of agreement as a part of this Plan Trust delineating the duties, responsibilities, fee structure, and liabilities of the Investment Manager with respect to any part of the Trust Fund under the control of the Investment Manager. c) The Trustee may assume that the Named Fiduciary, the Employer, the Plan Administrator, the Investment Manager, and the Insurer are appropriately discharging their duties under the Plan Documents and this Trust Agreement unless and until it is notified to the contrary in writing by any person known to the Trustee to be a Member Participant in the Plan, the Employer, or a governmental agency with jurisdiction. In the event the Trustee receives said written notice, then the Trustee shall take any actions it deems appropriate, including, if the Trustee so desires, applying to a court of competent jurisdiction and/or Federal regulatory authorities for guidance with respect to disposition of the Trust Fund. d) The Trustee shall have no authority or discretion responsibility for the management and control of the Trust Fund beyond implementation of instructions, notice, or directions received by the Trustee in accordance with this Trust Agreement, it being contemplated that all Plan assets will be under the control or direction of the Insurer or a properly appointed Investment Manager, or subject to MemberNamed Fiduciary, Employer, Plan Administrator, or Named Fiduciary Participant direction. The Trustee shall not be responsible for reviewing reports provided by the Insurer or any Investment Manager. The Trustee will be under no duty of inquiry or review with regard to any direction, instruction, or notice that it may receive in accordance with this AgreementTrust Agreement except as set forth in Section .04. e) The duties and responsibilities of the Trustee shall be limited to those set forth in this Trust Agreement and nothing contained in this Trust Agreement shall be deemed, either expressly or by implication, to impose any additional duties, powers, or responsibilities on the Trustee.