Management of Trust Fund. The responsibility for making investments of the Trust Fund shall, for the duration of the Trust, repose with the Company and unless and until otherwise directed by the Company in writing, the Trustee shall not be required to take any action in regard to investments and property held in the Trust other than to collect the interest and dividends or other sums payable thereon. Unless otherwise requested in writing by the Company, and subject only to the provisions of Paragraph 2.5, the Trustee shall retain any and all assets of the Trust held by it from time to time hereunder, notwithstanding that the same may not be recognized as legal investments for trust funds under the laws of the state where the Trust Fund is administered or other applicable law. The Trustee shall deposit the assets of the Trust Fund, except to the extent the Trust Fund consists of Letters of Credit, or any part thereof, in one or more such banks (which may include the Trustee) or trust companies in the U.S., or invest and reinvest the Trust Fund, except to the extent the Trust Fund consists of Letters of Credit, or any part thereof, in any such stocks, bonds and securities as the Company shall direct in writing, notwithstanding that such Investments may not be recognized by the laws of the state where the Trust Fund is administered or other applicable law as legal investments for trust funds. The Domiciliary Commissioner and the Chief Regulatory Officer for Insurance in any other state, territory, district, commonwealth or possession of the U.S. where the Company is eligible for excess or surplus lines shall have the right to review the assets in the Trust to determine whether such assets are acceptable. Nothing herein contained is intended to relieve the Company from furnishing investments in the Trust Fund of the quality required by the Surplus Lines or Excess Lines Laws of all states where the Trust Fund is required as a condition of the Company’s eligibility. Each investment instruction from the Company shall be a representation by the Company that the investments specified therein meet such conditions and the conditions imposed by the definitions set forth in this Agreement. The Trustee shall also make or change any deposits and sell and dispose of any negotiable assets of the Trust, other than Letters of Credit, by and with the direction in writing of the Company. The Trustee shall be under no duty to give any investment advice to any person in connection with the Trust Fund but...
Management of Trust Fund. The assets of the Trust Fund shall be held in trust by the Trustee and accounted for in accordance with this Article 13, and shall be invested in accordance with Section 13.3 in the Investment Products specified by the Employer in the Plan Agreement and from time to time thereafter in writing (or in such other manner as shall be made available and agreed upon by the Employer and Xxxxxx). The Employer shall have the exclusive authority and discretion to select the Investment Products available under the Plan. In making that selection, the Employer shall use the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of like character and with like aims. The Employer shall cause the available Investment Products to be diversified sufficiently to minimize the risk of large losses, unless under the circumstances it is clearly prudent not to do so. It is especially intended that the Trustee shall have no discretionary authority to determine the investment of Trust assets. Notwithstanding the foregoing, assets of the Trust Fund shall also be invested in Employer Stock if so elected by the Employer and agreed to by Xxxxxx under the service agreement executed by the Employer and Xxxxxx pursuant to the establishment of the Plan.
Management of Trust Fund. The Trustees are responsible for the disbursement and management of the funds in the Granville Lake Mitigation Trust Fund in accordance with this Agreement and the Trust Agreement.
Management of Trust Fund. (a) Lloyd’s may, subject to Part 7.3 of the Corporations Law, from time to time direct the Trustee (or such other person as the Trustee may nominate from time to time for the purpose) in accordance with the Operational Agreement and this deed to invest or reinvest any part of the Trust Fund (except to the extent that that part of the Trust Fund consists of Letters of Credit) in a manner permitted under the Act:
Management of Trust Fund. (a) Xxxxx’x may, subject to Part 7.3 of the Corporations Law, from time to time direct the Trustee (or such other person as the Trustee may nominate from time to time for the purpose) in accordance with the Operational Agreement and this deed to invest or reinvest any part of the Trust Fund (except to the extent that that part of the Trust Fund consists of Letters of Credit)in a manner permitted under the Act:
Management of Trust Fund. 117 4.1 Plan Administrator........................................ 117 4.2 Trustee................................................... 117 4.3 Investment Manager........................................ 120 4.4 Plan Administrator or Employer Investment Directions...... 121 4.5
Management of Trust Fund. 6 (a) Employment of Agents........................................................ 6 (b) Resolution of Claims........................................................ 6
Management of Trust Fund. The Trustee shall have the following ------------------------------------ management powers:
Management of Trust Fund. (a) Except as otherwise provided under this section and Articles IV and V, the Trustee shall act as the investment fiduciary for the Trust with the exclusive power to manage, invest and reinvest the assets of the Trust Fund in accordance with and limited by the terms of this Trust Agreement, the Investment Policy Statement and applicable law. With respect to its appointment as the investment fiduciary of the Fund, the Trustee shall not be subject to the direction of any other person in the discharge of its duties, nor shall its authority be subject to delegation or modification, except that such power is specifically subject to (i) the authority of the Administrator to decide the reasonable level of liquid assets necessary to timely pay for the current and ongoing benefit and administrative expenses incurred under the Plan; (ii) the authority of the Board of Commissioners to allocate for management a portion or all of the Trust Fund to an Investment Manager, Insurance Contract or the Board itself as set forth in Article V; or (iii) any term of this Trust Agreement that provides otherwise, including the Board’s discretion to amend the Trust to provide otherwise.
Management of Trust Fund. The responsibility for making investments of the Trust Fund from time to time shall repose with the Agent, subject to Requirements and Directions of the Council; provided, however, that subject to Paragraph 2.7, all investments of the Trust Fund shall be, and the Agent shall only direct the Trustee to make and retain such investments as are of a kind permitted under the insurance laws of the Commonwealth of Kentucky, in effect from time to time. Unless and until otherwise directed by the Agent in writing, the Trustee shall not be required to take, and shall have no liability for omitting to take, any action in regard to investments and property held in the Trust Fund other than to collect the interest and dividends or other sums payable thereon. The Trustee shall deposit the Trust Fund, except to the extent the Trust Fund consists of Letters of Credit, or any part thereof, in one or more such banks (which may include the Trustee) or trust companies in the United States of America, or invest and reinvest the Trust Fund, except to the extent the Trust Fund consists of Letters of Credit, or any part thereof, in any such stocks, bonds and securities, the interest and dividends on which are payable in U.S. dollars, as the Agent shall direct in writing, notwithstanding that such investments may not be recognized by the laws of the Commonwealth of Kentucky as legal investments for trust funds, provided, that nothing herein contained is intended to relieve the Agent from furnishing investments in the Trust Fund of the quality required by the laws of the Commonwealth of Kentucky and each investment instruction from the Agent shall be a representation by the Agent that the investments specified therein meet such conditions and the conditions imposed by the definitions set forth in this Deed of Trust. The Trustee shall also make or change any deposits and sell and dispose of any negotiable assets of the Trust, other than Letters of Credit, by and with the direction in writing of the Agent. The Trustee shall be under no duty to give, and shall have no liability for omitting to give, any investment advice to any person in connection with the Trust Fund but shall always, provided the Trustee itself shall have received actual notice thereof, notify the Agent as to any rights to conversion, subscription, voting or other rights pertaining to any investments held in the Trust Fund and of any default in the payment of principal or interest. The Agent shall have the full, unq...
