MANAGEMENT BY THE ADMINISTRATOR Clause Samples

MANAGEMENT BY THE ADMINISTRATOR. (i) If the Plan so provides, the Administrator may direct any or all investments of the Trust Fund, and the Trustee generally shall follow the directions of the Administrator the investment and reinvestment of any part of the Trust Fund. Investments made at the direction of the Administrator may consist to the extent authorized by the plan of investments in group annuity contracts containing terms and conditions acceptable to the Administrator, investment companies, collective pension and profit sharing trusts sponsored by financial institutions not affiliated with the Trustee, real estate investment trusts, guarantied investment contracts, deposits at banks and other depositor institutions, and any other investment, provided that, for any investment directed by the Administrator, the investment is reasonably satisfactory' to the Trustee from a systems and operations standpoint. The terms and conditions of the declaration of trust for any such collective pension and profit sharing trust are incorporated herein by reference. If the Administrator and the Trustees agree in writing, the Administrator may transmit the funds directly to third parties such as insurance companies, investment companies, or dealers to settle any investment transaction directed by the Administrator. (ii) The Trustee shall be under no duty or obligation to review any investment to be acquired, held, or disposed of in accordance with the Administrator's directions or to make any recommendations with respect to the acquisition, disposition, or continued retention of any investment directed by the Administrator. Nevertheless, the Trustee may refuse to comply with any direction of the Administrator, or dispose of any investment held at the direction of the Administrator and reinvest the proceeds, if it reasonably determines that it may be required to take such an action under the Employee Retirement Income Security Act of 1974, as amended ("ERlSA").