Common use of No Discretion Clause in Contracts

No Discretion. The Master Custodial Administration Agreement Administrator shall have no discretionary control over, or any other discretion regarding, the investment of the Master Custodial Account or the administration of the Participating Plan. The Employer hereby instructs the Master Custodial Administration Agreement Administrator to act solely in accordance with instructions received from the Employer, the Plan Administrator, the Investment Manager, or other authorized person, as the case may be, with respect to the investment of the assets held in the Custodial Account and the administration of the Participating Plan. To the extent permitted by applicable law, the Master Custodial Administration Agreement Administrator shall have (a) no duty or obligation to review any investment to be acquired, held or disposed of pursuant to proper instructions or to make any recommendation with respect to the acquisition, disposition or continued retention of any investment, and (b) no liability or responsibility for following any such direction, or failing to act in the absence of any such direction.

No Discretion. The Master Custodial Administration Agreement Administrator shall have no discretionary control over, or any other discretion regarding, the investment of the Master Custodial Account or the administration of the Participating Plan. The Employer hereby instructs the Master Custodial Administration Agreement Administrator to act solely in accordance with instructions received from the Employer, the Plan Administrator, the Investment Manager, or other authorized person, as the case may be, with respect to the investment of the assets held in the Custodial Account and the administration of the Participating Plan. To the extent permitted by applicable law, the Master Custodial Administration Agreement Administrator shall have have (a) no duty or obligation to review any investment to be acquired, held or disposed of pursuant to proper instructions or to make any recommendation with respect to the acquisition, disposition or continued retention of any investment, and (b) no liability or responsibility for following any such direction, or failing to act in the absence of any such direction.