Common use of Limitations on Responsibilities and Duties Clause in Contracts

Limitations on Responsibilities and Duties. Neither the Master Custodial Administration Agreement Administrator nor Custodian shall be responsible for the collection of contributions provided for under this Agreement, the selection of the investments for the Account, the purpose or propriety of any distribution made at the direction of the Participant or Plan Administrator pursuant to Article 5 of this Appendix, or any other action properly taken at the direction of the Employer, Plan Administrator, or Participant in accordance with the terms and conditions of this Agreement. Neither the Master Custodial Administration Agreement Administrator nor the Custodian shall be under any obligation to determine the accuracy or propriety of any such directions received from the Plan Administrator and shall be fully protected in acting in accordance therewith.

Limitations on Responsibilities and Duties. Neither the Master Custodial Administration Agreement Administrator nor Custodian shall be responsible for the collection of contributions provided for under this Agreement, the selection of the investments for the Account, the purpose or propriety of any distribution made at the direction of the Participant or Plan Administrator pursuant to Article 5 of this Appendix, or any other action properly taken at the direction of the Employer, Plan Administrator, or Participant in accordance with the terms and conditions of this Agreement. Neither the Master Custodial Administration Administr ation Agreement Administrator nor the Custodian shall be under any obligation to determine the accuracy or propriety of any such directions received from the Plan Administrator and shall be fully protected in acting in accordance therewith.