Common use of Limitation on Duties and Powers of the Trustee Clause in Contracts

Limitation on Duties and Powers of the Trustee. Unless expressly provided for in this Trust Agreement or otherwise properly delegated and assumed by agreement of the Trustee, the Trustee shall not be required to exercise a duty or power of the Company, the Committee, or any other fiduciary under this instrument. If the Trustee appoints an investment manager to manage and invest some or all of the Trust assets (an “Investment Manager”), the Investment Manager shall have, and the Trustee shall not have, the express and implied duties and powers under this Trust Agreement with respect to investment of Trust assets subject to the Investment Manager’s control. The Trustee shall have no obligation or power to exercise discretionary authority or control with respect to investment of the assets managed by the Investment Manager, or to render advice regarding the investment of such assets. The Trustee shall not be liable for the investment performance of the assets managed by the Investment Manager, other than as provided in Section 6.2. The powers and duties of the Trustee with respect to such Trust assets shall be limited to the following:

Appears in 4 contracts

Samples: Executive Severance Agreement (SpartanNash Co), Executive Severance Agreement (SpartanNash Co), Executive Severance Agreement (SpartanNash Co)

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Limitation on Duties and Powers of the Trustee. Unless expressly provided for in this Trust Agreement or otherwise properly delegated and assumed by agreement of the Trustee, the Trustee shall not be required to exercise a duty or power of the Company, the Committee, or any other fiduciary under this instrument. If the Trustee appoints an investment manager Investment Manager (defined in Section 6.4 below) is appointed to manage and invest some or all of the Trust assets (an “Investment Manager”)assets, the Investment Manager shall have, and the Trustee shall not have, the express and or implied duties and powers under this Trust Agreement with respect to investment of Trust assets subject to the Investment Manager’s 's control. The Trustee shall have no obligation or power to exercise discretionary authority or control with respect to investment of the assets managed subject to management by the Investment Manager, Manager or to render advice regarding the investment of such assets, unless required by ERISA Section 405. The Trustee shall not be liable for the investment performance of the assets managed subject to management by the Investment Manager, other than as provided in Section 6.2. The powers and duties of the Trustee with respect to such Trust assets shall be limited to the following:

Appears in 4 contracts

Samples: Executive Severance Agreement (Spartan Stores Inc), Executive Severance Agreement (Spartan Stores Inc), Executive Severance Agreement (Spartan Stores Inc)

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Limitation on Duties and Powers of the Trustee. Unless expressly provided for in this Trust Agreement or otherwise properly delegated and assumed by agreement of the Trustee, the Trustee shall not be required to exercise a duty or power of the CompanySpartan Stores, the Committee, or any other fiduciary under this instrument. If the Trustee appoints an investment manager to manage and invest some or all of the Trust assets (an “Investment Manager”), the Investment Manager shall have, and the Trustee shall not have, the express and implied duties and powers under this Trust Agreement with respect to investment of Trust assets subject to the Investment Manager’s control. The Trustee shall have no obligation or power to exercise discretionary authority or control with respect to investment of the assets managed by the Investment Manager, or to render advice regarding the investment of such assets. The Trustee shall not be liable for the investment performance of the assets managed by the Investment Manager, other than as provided in Section 6.2. The powers and duties of the Trustee with respect to such Trust assets shall be limited to the following:

Appears in 3 contracts

Samples: Executive Severance Agreement (SpartanNash Co), Severance Agreement (Spartan Stores Inc), Executive Severance Agreement (Spartan Stores Inc)

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