Common use of RECEIPT OF CONTRIBUTIONS Clause in Contracts

RECEIPT OF CONTRIBUTIONS. To receive any contributions paid to it under this Agreement in cash or in other property acceptable to the Trustee. The Trustee shall be responsible only for property actually received by it pursuant to this Agreement. The Trustee has delegated this duty to the Sub-Custodian.

RECEIPT OF CONTRIBUTIONS. To The Trustee shall receive any contributions paid to it under this Agreement in cash or in the form of such other property as it may from time to time deem acceptable and which shall have been delivered to it. All contributions so received, together with the income therefrom and any other increment thereon, shall be held, invested, reinvested and administered by the Trustee pursuant to the Trusteeterms of this Agreement without distinction between principal and income. The Trustee shall not be responsible for the calculation or collection of any contribution under the Plan, but shall be responsible only for property actually received by it pursuant to this Agreement. The Trustee has delegated this duty to the Sub-Custodian.