Power to do any Necessary Act. Generally take all action, whether or not expressly authorized, which the Trustee may deem necessary or desirable, acting reasonably, for the fulfillment of its duties hereunder. Without limiting the generality of the foregoing, this may include seeking, in accordance with the Applicable Laws, the advice and direction of a court of competent jurisdiction with respect to any matter concerning the PRT.
Power to do any Necessary Act. To do all acts which it may deem necessary or proper and to exercise any and all powers under the Plan and this Agreement upon such terms and conditions as it may deem in the best interests of the Trust.
Power to do any Necessary Act. To do all such acts, take all such proceedings, and exercise all such rights and privileges, not specifically mentioned, as the Trustees consider necessary to administer the Trust Fund.
Power to do any Necessary Act. Generally take all action, whether or not expressly authorized, which the Trustee may deem necessary or advisable, acting reasonably, for the fulfillment of its duties hereunder. Without limiting the generality of the foregoing, this may include seeking, in accordance with the Applicable Laws, the advice and direction of the NEB or a Court with respect to:
(i) the Beneficiary or Beneficiaries of the Trust at any particular time where the Beneficiary has ceased to exist or a Default exists in respect of the Beneficiary; or
(ii) the distribution or division of the Fund in the event of the sale of the Pipeline or a portion thereof.
Power to do any Necessary Act. To perform all acts, take all proceedings, and exercise all rights and privileges not specifically mentioned in this Agreement as the Trustee may deem necessary to administer the Trust Fund, and to carry out the purposes of the Trust Fund, including but not limited to the making of elections required or permitted under Applicable Legislation. The powers listed above will be exercised by the Trustee only upon Instructions provided to the Trustee, and the Trustee will have no discretion to manage or invest the Trust Fund other than upon the Instructions. The Trustee will be under no liability for any investment or payment made by the Trustee pursuant to any Instructions and will be under no duty to make inquiry to ensure that any such investment or payment made pursuant to Instructions is made in accordance with the provisions of the Plan.
Power to do any Necessary Act. Generally take all action, whether or not expressly authorized, which the Trustee may deem necessary or advisable, acting reasonably, for the fulfillment of its duties hereunder. Without limiting the generality of the foregoing, this may include seeking, in accordance with the Applicable laws, the advice and direction of:
(i) the Court or the NEB with respect to the Beneficiary or Beneficiaries of the Trust at any particular time where the Beneficiary has ceased to exist or a Default exists in respect of the Beneficiary; or
(ii) the NEB with respect to the distribution or division of the Fund in the event of the sale of the Pipeline or a portion thereof.
Power to do any Necessary Act. Subject to compliance with the standard of care described in Section 16.1, generally take all action, whether or not expressly authorized, which the Trustee may deem necessary or desirable for the fulfillment of its duties hereunder.
Power to do any Necessary Act. To do all such acts, undertake all such proceedings and exercise all such rights and privileges, although not specifically mentioned herein, as necessary or proper for the accomplishment of the foregoing powers or otherwise in the best interests of the Fund. ARTICLE V --------- COMPENSATION, EXPENSES AND TAXES --------------------------------
5.01 The Company may elect to pay (a) the expenses incurred by the Trustees in performance of appropriate duties, including reasonable fees for legal services rendered to the Trustees; (b) such compensation to the Trustees, other than to a Trustee who is a full-time paid employee of the Company, as may be agreed upon in writing from time to time between the Company and the Trustees; (c) all other proper charges and disbursements of the Trustees; (d) administrative expenses of the Plan including premiums for any surety bond covering fiduciaries of the Plan and trust which may be required under Section 412 of ERISA and (e) the fees and retainers of the Plan's actuary, consultant, custodian, administrator and counsel. If the Company does not elect to pay all or part of these expenses, the Trustees shall pay these expenses and charge the payment thereof against the assets of the Fund. Until paid, any such fees and expenses shall constitute a charge against the Fund. All taxes of any kind whatsoever that may be levied or assessed under existing or future laws upon, or in respect of, the Fund or the income thereof, and any expense directly relating to the investments of the Fund such as brokerage commissions and registration charges, shall be paid from the Fund.
Power to do any Necessary Act. To exercise, generally, any of the powers which an individual owner might exercise in connection with property either real, personal, or mixed held by the Fund, and to do all such acts, take all such proceedings, and execute all such rights and privileges, although not specifically mentioned herein, as the Trustees may deem necessary or desirable to administer the Fund and to carry out the purposes of the Agreement.
