More Than One Administrator. If more than one individual is appointed as Administrator under Section 12.01, such individuals shall either exercise the duties of the Administrator in concert, acting by a majority vote or allocate such duties among themselves by written agreement delivered to the Employer and the Trustee. In such a case, the Trustee may rely upon the instruction of any one of the individuals appointed as Administrator regardless of the allocation of duties among them.
Appears in 3 contracts
Sources: Scudder Flexi Plan Agreement (Scudder Portfolio Trust/), Scudder Flexi Plan Agreement (Scudder Equity Trust), Scudder Flexi Plan Agreement (Scudder Investment Trust)
More Than One Administrator. If more than one individual is appointed as Administrator under Section 12.01Administrator, such individuals shall either exercise the duties of the Administrator in concert, acting by a majority vote or allocate such duties among themselves by written agreement delivered to the Employer and the Trustee. In such a case, the Trustee may rely upon the instruction of any one of the individuals appointed as Administrator regardless of the allocation of duties among them.
Appears in 3 contracts
Sources: 401(k) Plan Adoption Agreement (United States Lime & Minerals Inc), Prototype 401(k) Plan (Associated Estates Realty Corp), 401(k) Plan Adoption Agreement (Tro Learning Inc)
More Than One Administrator. If more than one individual is --------------------------- appointed as Administrator under Section 12.01Administrator, such individuals shall either exercise the duties of the Administrator in concert, acting by a majority vote or allocate such duties among themselves by written agreement delivered to the Employer and the Trustee. In such a case, the Trustee may rely upon the instruction of any one of the individuals appointed as Administrator regardless of the allocation of duties among them.
Appears in 1 contract
Sources: 401(k) Plan Adoption Agreement (Chandler Insurance Co LTD)